Two Prime Reports Record Q3 2025 with $827 Million in Total Committed Loan Volume; $2.55 Billion in Loans Since March 2024
Two Prime's Growth: Two Prime Lending Limited has issued over $2.55 billion in bitcoin-backed loans since its launch in March 2024, with $827 million issued in Q3 2025 alone, making it one of the largest bitcoin-backed lenders globally.
Clientele and Services: The firm serves a diverse range of institutional clients, including bitcoin miners, hedge funds, and corporate treasuries, offering tailored lending arrangements and sophisticated derivatives strategies to meet their unique business needs.
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- Share Acquisition: Oasis Management increased its stake in Hut 8 Corp. by 2,004,953 shares in Q4 2025, with an estimated transaction value of $88.38 million, demonstrating strong confidence in the company and enhancing its investment portfolio in digital infrastructure.
- Increased Ownership: Following the acquisition, Oasis's total holdings in Hut 8 rose to 2,307,683 shares, valued at $106.01 million, representing 6.87% of its reportable U.S. equity assets, reflecting a strategic focus on Hut 8's growth potential.
- Strong Financial Performance: Hut 8 reported revenue of $83.5 million in Q3, a significant year-over-year increase, with $70 million from compute services, and a net income of $50.6 million alongside an adjusted EBITDA of $109 million, showcasing its diversified and profitable business model.
- Optimistic Market Outlook: With a market capitalization of $5.51 billion and 13,696 bitcoins valued at approximately $1.6 billion, Hut 8 solidifies its leadership in digital assets and high-performance computing, attracting long-term investors to focus on the commercialization of its development pipeline.
Market Performance: ProShares Bitcoin Strategy ETF shares have decreased by 1.6%, while shares of Bitcoin Trust have fallen by 1.4%.
Investment Trends: The decline in shares reflects ongoing volatility and investor sentiment in the cryptocurrency market.
Market Performance: RIO Tinto's stock has decreased by 2.7%, indicating a decline in investor confidence or market conditions.
Company Update: Maraholding's shares have fallen by 4.5%, reflecting potential challenges or negative news affecting the company.
- Market Performance: Coinbase Global's stock has decreased by 3.3%, indicating a downturn in the cryptocurrency exchange market.
- Bitcoin Farms Impact: Bitcoin Farms also experienced a decline, with their value dropping by 3%.
- Strategic Adjustments: The strategy sector has seen a more significant decrease of 7%, reflecting challenges in the broader market.
- Overall Trend: The overall trend suggests a bearish sentiment in the cryptocurrency and related sectors.

Market Performance: Riot Platforms' shares decreased by 1.9%, while U.S.-listed shares of Hut 8 Mining fell by 2.9%.
Company Overview: Marah Holdings also experienced a decline of 2.9% in its share value.
- Market Performance: Coinbase Global's stock has decreased by 2.4%, indicating a downturn in its market performance.
- Bitfarms Decline: Bitfarms has seen a larger drop of 2.8%, reflecting challenges in the cryptocurrency mining sector.
- Strategy Impact: The overall strategy sector has experienced a significant decline of 4.2%, suggesting broader issues affecting strategic investments.
- Industry Trends: These declines highlight ongoing volatility and challenges within the cryptocurrency and related markets.





