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Kimi B's head of the department: There is a bubble in the AI industry, but the fundamentals are solid; the price increase of APIs is due to tight computing power

According to a report by 21 Finance, Huang Zhenxin, the head of Kimi B-end at Moonshot AI, stated in a recent communication meeting that there is indeed a bubble in the current AI industry, but the fundamentals are very solid. Enterprises can now clearly calculate the return on investment (ROI), and the substantial transformation in productivity brought by AI has already occurred.Regarding the recent phenomenon of widespread price increases among model vendors, Huang Zhenxin pointed out that the core reason lies in the rising global computing power costs, and chip production capacity cannot meet the explosive growth in Token demand. He emphasized that evaluating the cost-performance ratio of models should not only look at the unit price of input and output but should also focus on the Cache hit rate. It is reported that Kimi's original factory Cache hit rate has reached over 90%, significantly reducing actual computing costs.In addition, Huang Zhenxin revealed that Kimi will continue to challenge innovations in underlying architecture to sustain the Scaling Law, and its Muon optimizer, which has been validated on a large scale, is now widely adopted by several mainstream large models in the industry. Regarding the "last mile" of enterprise AI implementation, he believes that as the foundational capabilities of models continue to strengthen, the technical paradigms at the application layer will also continue to simplify.

BlackRock deposited approximately $257 million in BTC and ETH into Coinbase Prime, and Hyperscale Data assets have fully covered its market capitalization

According to BBX data, yesterday institutional funds showed a divergence in their perception of the bottom for Bitcoin, with the core dynamics as follows:BlackRock, Inc. (NYSE: $BLK) yesterday, related entities under the company deposited 2,700 BTC (approximately $169 million) and 52,956 ETH (approximately $88.17 million) into Coinbase Prime institutional custody accounts, totaling about $257 million; reports also indicated "possible additional deposits." This deposit occurred against the backdrop of BTC approaching the key technical support level of $59,000, leading to divergent market interpretations: the optimistic interpretation believes that BlackRock is actively accumulating at the extremely low fear index of 18, signaling institutional-level bottom investment; the cautious interpretation suggests this could be passive rebalancing due to IBIT redemptions or internal asset rebalancing, and does not necessarily represent new buying. Regardless of the intent, the scale of $257 million accounts for about 0.5% of IBIT's current approximately $48 billion to $50 billion AUM, which is relatively small, but as a signal of institutional behavior in an extremely fearful market environment, it holds significant emotional reference value.Hyperscale Data Inc (NYSE: $GPUS) recently disclosed its balance sheet showing that the company holds a total of approximately $94.8 million in cash, restricted cash, Bitcoin, and silver, equivalent to 100.42% of the company's total market value of common stock—meaning the physical assets held by the company fully cover the current total market value. The company holds a 10-year, $1.2 billion AI computing power master service agreement (MSA), providing 20 megawatts of AI computing capacity for its Michigan facility, allowing for the continuous accumulation of Bitcoin and precious metals through cash flow from this contract without incurring debt. This business model—locking in cash flow with AI computing contracts and continuously accumulating hard assets with zero leverage—has been referred to by analysts as "the de-leveraged digital asset reserve model against the Strategy," providing a stark contrast in the current market context where Strategy leverage models are under pressure.

The U.S. Department of Justice has seized cloud computing accounts used by Huibang Group for laundering billions of dollars in cryptocurrency fraud proceeds

According to The Block, the U.S. Department of Justice has seized a cloud computing account used by Huione Group, which is accused of laundering billions of dollars in cryptocurrency scam proceeds. Assistant Attorney General A. Tysen Duva stated that the account constituted technical support, enabling the transfer and concealment of scam funds through Southeast Asian scam centers. This action is part of "Operation Choke Point," under which the U.S. Financial Crimes Enforcement Network had previously identified Huione Group as a primary money laundering concern.The statement claims that Huione's subsidiaries are suspected of assisting criminals in transferring funds from investment scams, cyber theft, and other illegal blockchain activities, ultimately injecting them into the legitimate banking system, with a significant amount of theft reportedly linked to North Korea. Huione's "Huione Guarantee" had previously posted advertisements for stolen credit cards, identity information, malware profits, and human trafficking services on Telegram channels. Blockchain analytics firm Elliptic pointed out that Huione launched the stablecoin USDH under financial pressure last year and developed a proprietary product line that includes a decentralized exchange, wallets, and "Huione Chain" (Xone).
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