Introduction: When Regulators Walk into the Bitcoin Conference

On April 27, SEC Chair Paul Atkins took the stage at Bitcoin 2026 in Las Vegas, becoming the first sitting SEC chair to attend a Bitcoin conference in history. In this context, BitFuFu's showcased hosted mining products and Bitcoin Bancorp's displayed ATM patents represent two industrial paths: the computational power side and the retail access side.

1. BitFuFu: Hosted Logic in a Downward Cycle of Computational Power

The roundtable topic at Bitcoin 2026 “Is hosted mining filling the gap as computational power declines?”—BitFuFu's participation in this discussion is no coincidence. The March monthly report shows a slight decrease in the company's own computational power due to the disposal of old machines, but the total managed computational power of 25.9 EH/s still grew by 25.7% year-on-year: as the marginal costs of self-built mines rise, professional hosting becomes an alternative route for small and medium investors and institutions to enter the mining market. The $9.5/T S21 XP rate is the company's lowest to date, combined with no lock-in period and direct payment structure, it holds clear commercial appeal as BTC rises to $79,000. The 29.4% year-on-year increase in cloud mining revenue for FY2025 validates this logic operationally.

2. Bitcoin Bancorp: ATM Patent and Cold Wallet Integration

Bitcoin Bancorp's core asset is its patents, not its market value. The US9135787 and US10332205 foundational patents cover the core operating protocol of Bitcoin ATMs. In a global context where about 38,000 Bitcoin ATMs face pressures of compliance and technological upgrades, holding foundational IP provides unique leverage in licensing negotiations. The integration solution with Tangem merges ATM purchasing with self-custody of cold wallets into a single step, directly lowering the entry threshold for new users—this direction highly aligns with the reverse discussion at the Bitcoin 2026 conference stating, "Self-custody remains important in the context of institutionalization."

On the opening day when BTC hit $79,000 and the SEC chair stepped onto the Bitcoin conference stage, BitFuFu showcased a $9.5/T hosting entry, and Bitcoin Bancorp presented their ATM patent and cold wallet integration solution. Although the scales of the two companies differ significantly, both are participating in this accelerating institutionalization of the market with verifiable products and IP.

Data Source: https://bbx.com/ Cryptocurrency concept stock information database, compiled based on announcements from publicly listed companies worldwide and SEC/TSE disclosure documents from yesterday.

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