Introduction: Breaking the Pure Coin Hoarding Narrative, Crypto Treasury Enters "Advanced Financialization"
On August 10, 2026, as we examine the latest SEC filings and on-chain data from the US stock market, the way public market entities are handling crypto assets has completely surpassed the primary stage of "buy and hold." Whether it’s MARA using Coinbase credit to pledge spot assets in exchange for $600 million in fiat ammunition, or BitFuFu treating Bitcoin as an operating tool for prepaying computing power costs, or Remixpoint and Chainlink focusing on generating interest and repurchase on-chain, it all indicates that crypto treasuries are evolving into sophisticated capital operating gears.
1. MARA's $600 Million Credit and BitFuFu's Computing Power Tactics: Spot Pledge and Operational Prepay
The 8-K filing disclosed by MARA Holdings ($MARA) yesterday showcased the solid leverage of top mining companies in credit structure.
By signing spot collateral loan agreements with Coinbase Credit and Two Prime Lending, MARA successfully secured an additional $600 million in loans, raising its total credit facilities to $750 million (including the restructuring of the previous $150 million limit). This method of "using spot as collateral to obtain fiat" enables MARA to acquire extremely cheap funds for business expansion without dumping spot assets on the secondary market, causing liquidity shocks.
Complementing this is BitFuFu ($FUFU)’s pragmatic approach. Although it produced 112 BTC in July, its holdings decreased from 1,671 to 1,314 BTC. The company wisely monetized this portion of spot to pre-lock in the expenditure for new computing power services starting in August that will last for 330 days. For operational entities, using crypto reserves at the right time to exchange for future long-term productivity is the core strategy to smooth out industry cycle fluctuations.
2. Remixpoint's Interest-Bearing Loop and Chainlink's Reserve Buyback: Capital Efficiency and Ecological Rights Confirmation
If the mining side is a game of computing power and credit, then on the treasury operation side, Remixpoint and Chainlink epitomize a compliant model of “interest-bearing and buyback.”
Remixpoint's Dual Engine of Lending and Staking: As of July 31, Japan's Remixpoint has lent approximately 1,501.27 BTC, earning risk-free loan fees of 12.44 BTC (approximately 133 million yen) within six months; simultaneously, it staked 901.45 ETH and 13,920 SOL into PoS, earning rewards of 28.89 million yen. This approach of transforming static reserves into a dynamic interest-generating machine injects high cash flow certainty into its corporate valuation.
Chainlink's Buyback of 140,000 LINK: On-chain tracking confirms that Chainlink successfully completed the buyback of 139,956.08 LINK (worth approximately $1.13 million) through CoWSwap in the secondary market and allocated it to its official reserves. This action not only provides direct buying support for the token ecosystem but also demonstrates the project's long-term intent to use operational profits to enrich the “on-chain central bank” treasury.
The set of data disclosed last weekend once again verifies that corporate crypto treasuries are entering deep waters. From massive spot collateral loans to precise operational computing power cashing, to cross-chain staking lending and secondary market buybacks, public market players are no longer satisfied with being mere custodians of “crypto digital gold,” but aim to become super operators controlling leverage, yield, and capital efficiency.
Data source: https://bbx.com/ Crypto concept stock information database, organized based on announcements from globally listed companies and SEC/TSE disclosure documents from last weekend.
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