BitMine Becomes Top ETH Holder
Monday saw major moves in corporate crypto treasuries, signaling deeper institutional adoption. BitMine Immersion Technologies (BMNR), just 35 days post-launch, now holds the world’s largest corporate ether treasury—over 833,000 ETH worth $2.9 billion—making it the third-largest overall crypto holder behind MSTR and MARA. Backed by names like Bill Miller III, Cathie Wood, Galaxy, and Kraken, BMNR aims to acquire 5% of all ETH and explore staking revenue. Its stock rose 6%.

Meanwhile, Verb Technology (VERB) announced a $558 million Toncoin initiative with Kingsway Capital and over 100 institutional backers including Blockchain.com and Ribbit Capital. The firm will rebrand to TON Strategy Co. (TSC), aligning with Telegram’s TON ecosystem. VERB shares jumped 65%, though TON dipped 8%.

Also, French chipmaker Sequans (SQNS) added 85 BTC ($10M) to its treasury, now totaling 3,157 BTC. SQNS stock edged up 1% after the news.

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Palantir Breaks $1B Revenue Mark
Palantir (PLTR) beat Wall Street expectations, reporting its first-ever $1 billion quarterly revenue—well above the $940 million forecast. Adjusted earnings per share hit 16 cents, topping the expected 14 cents. The AI software company raised its full-year revenue outlook to $4.142–$4.150 billion, up from prior guidance of $3.89–$3.90 billion.

U.S. revenue jumped 68% year-over-year to $733 million, with government contracts rising 53% to $426 million. CEO Alex Karp emphasized operational efficiency, saying the company aims to 10x revenue while reducing headcount. Palantir also signed 66 deals worth at least $5 million and reported a 144% jump in net income to $326.7 million.

PLTR shares rose 3% after hours and have more than doubled this year, fueled by growing investor confidence in its AI products and U.S. government ties. Its market cap now exceeds $379 billion, placing it among the top 10 U.S. tech companies, ahead of Salesforce and IBM.

Aramco Profit Beats Expectations Slightly
Saudi Aramco reported second-quarter net income of $24.5 billion, beating expectations of $23.7 billion, despite a year-over-year revenue drop to $101 billion (378.83 billion SAR), down from $113.5 billion. The decline was driven by lower crude and chemicals prices, partially offset by increased trading volume.

CEO Amin Nasser said oil demand is expected to rise by over 2 million barrels per day in the second half of 2025. Capital spending rose slightly to $12.3 billion, while production reached 9.356 million barrels per day in June.

Despite macro headwinds—including depressed crude prices and U.S. trade tariffs—Aramco anticipates stronger earnings as OPEC+ begins unwinding 2.2 million barrels per day in voluntary cuts.

Aramco’s gearing ratio rose to 6.5% amid increased bond issuance. It declared a Q3 base dividend of $21.1 billion, keeping its yield at 5.5%, ahead of Exxon and Chevron. The dividend remains crucial for Saudi Arabia’s Vision 2030 economic transition.

Tesla Approves Musk’s $29B Payday
Tesla’s board has approved a new $29 billion pay package for CEO Elon Musk, awarding him 96 million restricted shares—an “interim award” following legal setbacks to his original $56 billion 2018 grant. The new deal, which only requires Musk to stay in a leadership role until 2027, boosts his stake in Tesla from 13% to 15%.

Unlike the performance-based 2018 package, this award has no operational targets—prompting some critics to call it a “fog-the-mirror” grant. The award’s value assumes Tesla’s stock remains over $300, with Musk paying a strike price of $23.34 per share.

Tesla has shielded the plan from legal challenges by requiring any opposing shareholder to hold 3% of Tesla stock—roughly $3 billion. The move follows Tesla’s relocation from Delaware to Texas, where corporate governance laws are more favorable.

While many retail investors support Musk, some institutional investors and pension funds have criticized the board for prioritizing Musk’s compensation over performance.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.