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Bitmine Becomes 2nd Largest Crypto Treasury Company: Now Holding $6.6B In Ethereum

by admin August 20, 2025

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BitMine, a publicly traded company renowned for its bold treasury strategy, has officially become the second-largest crypto treasury company in the world. The firm now holds more than $6.6 billion worth of Ethereum (ETH), totaling 1.52 million tokens — a staggering 1.26% of the total ETH supply.

This milestone underscores BitMine’s aggressive accumulation strategy, which has set it apart from other institutions and corporate treasuries in the crypto space. What makes this move even more significant is BitMine’s long-term vision: the company has set a target of holding 5% of Ethereum’s total supply, meaning they are already 25% of the way toward their ambitious goal.

The announcement sends a strong signal to markets and institutional investors. Ethereum’s growing role as both a financial and technological backbone of Web3 is attracting corporations to treat ETH not just as an asset, but as a strategic reserve. BitMine’s approach mirrors the conviction once seen in Bitcoin-focused treasury strategies, but it places Ethereum front and center in the evolving digital asset economy.

BitMine Becomes The Leading Ethereum Treasury

BitMine has cemented its position as the largest Ethereum treasury in the world, now holding over $6.6 billion worth of ETH, up from $4.9 billion just last week. This rapid increase highlights the company’s aggressive accumulation strategy and its conviction in Ethereum’s long-term value. The treasury currently accounts for 1.52 million ETH, making BitMine the undisputed leader in Ethereum corporate holdings.

BitMine Latest Crypto Transactions | Source: Arkham Intelligence

Globally, BitMine now ranks as the second crypto treasury company overall, second only to Michael Saylor’s Strategy, which dominates Bitcoin holdings. This milestone underscores the shifting landscape of institutional crypto adoption, where Ethereum is increasingly being recognized as more than just the leading smart contract platform — it is becoming a core reserve asset.

Notably, BitMine now holds more ETH than Sharplink Gaming, The Ether Machine, and The Ethereum Foundation combined. This marks a turning point in the treasury race, where corporations are no longer competing on Bitcoin alone but are diversifying into Ethereum at unprecedented levels.

This growing trend is likely to continue as ETH gains momentum, supported by strong institutional demand, ETF inflows, and broader adoption across decentralized finance and real-world asset tokenization. Analysts believe that if BitMine maintains its current pace, its treasury strategy could reshape how companies manage long-term reserves in the digital economy.

ETH Facing Critical Test

Ethereum is currently trading near $4,310 after a sharp retrace from its recent peak above $4,790. The chart highlights that ETH has entered a consolidation phase after weeks of strong bullish momentum, with price now testing key support levels.

ETH is trading above key demand levels | Source: ETHUSDT chart on TradingView

The 50-day moving average is trending upward and currently sits near $3,560, well below current price levels, signaling that the broader bullish structure remains intact. Meanwhile, the 100-day and 200-day moving averages at $3,048 and $2,575, respectively, also confirm strong long-term support. This alignment suggests that despite the pullback, Ethereum’s broader trend is still positioned for growth.

If ETH manages to hold this level, a rebound back toward resistance at $4,600–$4,800 is likely in the short term. However, a breakdown below support could open the door for a deeper retrace toward $3,800. The coming sessions will be key to determining direction.

Featured image from Dall-E, chart from TradingView

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August 20, 2025 0 comments

Product Reviews

Softbank reportedly considered buying Intel’s foundry division outright before investing $2 billion into the company as equity

by admin August 20, 2025

SoftBank today announced its intent to purchase a historic $2 billion worth of Intel shares—a roughly 2% stake—making it one of the largest shareholders of the American chipmaker. However, the Financial Times reports that just days before the deal was inked, Softbank actually considered buying Intel’s foundry division outright.

This follows another unprecedented report that the White House is considering a 10% stake in Intel, utilizing grants from the CHIPS Act and converting them into equity.

Intel received that CHIPS Act money on the promise of never spinning off the fabs the funds directly impacted, as they serve an important geopolitical role in the race for bleeding-edge semiconductors. Intel is one of the last companies in the cutting-edge process race with TSMC, whose roots in Taiwan have provoked long-simmering concerns about its vulnerability and the stability of leading-edge semiconductor supply in the event that China should invade the island in pursuit of reunification.

Dutch Firm Amdax To Launch Bitcoin Treasury Company, Eyes 1% Of BTC Supply

by admin August 19, 2025

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Leading Netherlands-based crypto services firm Amdax today announced plans to launch a Bitcoin (BTC) treasury company called AMBTS B.V. (AMBTS), with the goal of listing it on Euronext Amsterdam.

Amdax Unveils Bitcoin Treasury Firm

In a move that underscores the growing trend of European companies embracing Bitcoin strategies, Dutch crypto services provider Amdax revealed it is laying the groundwork for a dedicated Bitcoin treasury company to be listed on Amsterdam’s Euronext stock exchange.

AMBTS will operate as a privately held company with an independent governance structure and a singular focus on BTC accumulation. The company aims to acquire as much as 1% of the total Bitcoin supply, raising capital from private investors in stages to achieve that ambitious target.

At current market prices, holding 1% of Bitcoin’s supply – roughly 210,000 BTC – would require an investment of approximately $24 billion. Presently, only Strategy holds more than 1% of the supply, with 628,946 BTC on its balance sheet.

Amdax emphasized Bitcoin’s low correlation with traditional asset classes as a key driver of institutional interest. The firm noted that persistent inflation, geopolitical instability, and increasing regulatory clarity have strengthened BTC’s appeal, reflected in its recent price performance.

According to Amdax, proceeds from the initial financing round will be used to “make a head start with the BTC accumulation strategy,” which the firm expects will also boost its equity value over time.

For background, Amdax has been operating as a licensed cryptocurrency services provider for more than five years. In 2020, it became the first Dutch crypto company to register with the Dutch Central Bank (DCB). Commenting on the development, Lucas Wensing, CEO of Amdax, said:

While Bitcoin has been the best performing major asset in the past 10 years with fast adoption as digital capital, it is still relatively small in investment portfolios. With now over 10% of BTC supply held by corporations, governments and institutions, we think the time is right to establish a Bitcoin treasury company with the aim to obtain a listing on Euronext Amsterdam.

BTC Adoption In Europe Gaining Momentum

Although European companies were initially hesitant to embrace BTC, many are now warming up to the cryptocurrency. A supportive regulatory environment and growing institutional adoption in the US have contributed to Europe’s shifting stance toward digital assets.

For instance, UK-based firm The Smarter Web Company recently expanded its cryptocurrency holdings to 1,825 BTC after purchasing an additional 225 BTC. Similarly, Satsuma Technology, also based in the UK, raised $135 million to increase its BTC exposure.

Meanwhile, Norway’s sovereign wealth fund disclosed that its indirect BTC exposure rose 192% year-on-year, highlighting the increasing role of BTC in European institutional portfolios. At press time, BTC trades at $116,100, down 1.8% in the past 24 hours.

Bitcoin trades at $116,100 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, chart from TradingView.com

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August 19, 2025 0 comments

Esports

Puzzle & Dragons studio claims former executive embezzled $2.35 million of company funds

by admin August 18, 2025

GungHo Online Entertainment, the studio behind Puzzles & Dragons, has claimed that a former senior executive embezzled ¥346 million ($2.35 million) by creating fake work and outsourcing orders to misappropriate company funds.

In a statement released on August 14, 2025 (via Automaton), GungHo Online Entertainment alleged that a former senior executive, who was dismissed for disciplinary reasons, had “engaged in misconduct” over the last few years, including the “misappropriation of company funds through the place of fictitious work orders” (via Google Translate).

“The company became aware of the suspicion of fraudulent activity by the former employee and conducted an initial investigation with the support of forensic teams from external law and accounting firms to determine whether the former employee had engaged in fraudulent activity and to clarify the facts of the matter,” GungHo Online Entertainment wrote in the statement.

GungHo Online Entertainment goes on to allege that, as a result of this initial investigation, it “confirmed” the former employee had embezzled approximately ¥246 million ($1.67 million) of company funds by using a third-party job-ordering service to create “fictitious work orders” which named the company as the client and the former employee as the contractor.

In addition, GungHo Online Entertainment alleges that it “confirmed” the former executive had “fraudulently paid outsourcing fees to a business partner despite the fact that no work had actually been performed,” resulting in a further loss of ¥100 million ($680,000).

In response, the company formed an internal investigation team, led by two independent, external auditors and supported by forensic teams from external law and accounting firms.

The investigation has been conducting interviews with those involved and aimed to provide a “detailed investigation into the facts of the fraudulent conduct in question through digital forensics of the devices used by the former employee.”

The team has also been investigating whether there were any similar cases, “analyzing the causes, and formulating measures to prevent recurrence.”

As a result of this alleged misconduct, the employee in question was dismissed on July 24, 2025.

GungHo Online Entertainment claimed in its statement that the alleged fraud was “maliciously and independently committed by the former employee, who was a senior executive with discretion and authority.” The company also claimed the former employee “engaged in cover-up efforts to avoid detection.”

In the statement, GungHo Online Entertainment revealed that it “has been consulting with investigative authorities and holding discussions regarding filing criminal charges.”

“The company is currently in concrete discussions regarding the acceptance of charges against the former employee and is fully cooperating with the investigative activities of the investigative authorities,” the statement reads.

“Therefore, in consideration of the potential hindrance to the investigative activities, the company will refrain from disclosing the details of this misconduct.”

GungHo Online Entertainment apologised for the “inconvenience and concern” the alleged incident may have caused to relevant parties, but said the impact on the company’s financial results for the fiscal year ending March 31, 2026, is expected to be “minor.”

GungHo Online Entertainment is currently facing a shareholder revolt, with the company due to hold an extraordinary general meeting on September 24, 2025, where shareholders will vote on whether to oust its current CEO and president, Kazuki Morishita.

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August 18, 2025 0 comments

NFT Gaming

UK Bitcoin Reserve Company Buys More BTC, Stock Continues to Rise

by admin June 25, 2025

In brief

The Smarter Web Company’s stock has surged 254% this month as it built up Bitcoin reserves of 543.52 BTC, with shares rising from £4.50 to £292.50 since its April IPO.
CEO Andrew Webley told Decrypt this makes it “the most successful IPO in the UK ever” and says the success has inspired over 21 copycat companies to announce similar Bitcoin reserve strategies.
The Bristol-based web design firm has raised over $74.9 million since April to fund Bitcoin purchases, aiming to reach 1,000 BTC within the next 3-4 months.

The Smarter Web Company has seen its stock surge 254% this month as it brings its total Bitcoin reserve holdings up to 543.52 BTC.

Based in Bristol, the Smarter Web Company is a British web design and online marketing firm that began accepting Bitcoin as a means of payment in 2023. Its Bitcoin reserve began following its IPO in April.

It raised $2.86 million (£2.1 million) upon listing on the Aquis Stock Exchange Growth Market on April 25, and has since seen its stock rise from £4.50 to £292.50 as of writing. That’s a return of more than 6,400%.

Its market cap has also risen by 254% since the start of June, following Bitcoin purchases on June 5, June 10, June 13, June 19 and yesterday.

CEO Andrew Webley told Decrypt this percentage makes the firm’s listing “the most successful IPO in the UK ever,” and notes the sudden increase in its share price has inspired a wave of copycat firms.

“Ironically, since we started […] there’s over 21 [companies] that have come out claiming to do what we do since we listed two months ago,” he said.

In fact, he also notes that two UK-listed firms announced a BTC reserve policy the same day he spoke to Decrypt: GSTechnologies and TruSpine Technologies.

And without naming names, he suggests that some of the 21 firms he has counted have not actually acquired any Bitcoin, despite announcing a BTC reserve policy.

“The UK’s potentially getting into a bit of a dangerous place actually with, you know, people who are claiming to do it rather than doing it,” he says, adding that he has reported the issue to Acquis.

As with Strategy in the U.S., the funds for the Smarter Web Company’s purchases have come primarily from the sale of ordinary shares. Webley told Decrypt that the firm has raised a little over $74.9 million, or £55 million, in total since April.

“We don’t have any debt, and we’ve never raised money at a discount either, so we always raise at the market price,” he added.

In terms of what led to his interest in Bitcoin and to his company establishing a BTC reserve, Webley says that the cryptocurrency is the “best asset in the world” because of its fixed supply and decentralization.

“I do believe in Bitcoin,” he said. “I think recent history has proven that approach, so that’s what I like about Bitcoin and why I keep our assets in Bitcoin rather than cash.”

Webley also acknowledges that Bitcoin isn’t without risks, given that it’s “quite a volatile asset.” But he believes it has become “more stable and less volatile” over the past six to 12 months.

“This weekend is a good example, with the American action against Iran, and Bitcoin was incredibly chilled out; I think it might have moved 3% or 4% at most, something like that,” he said.

The Smarter Web Company aims to bring its reserve up to 1,000 BTC in the next four months, although Webley suspects that it may actually achieve this milestone within three months.

Such growth might invite the question as to where the firm’s BTC policy will leave its original lines of business, although Webley affirms that the policy is meant to complement and support the latter, and not replace it somewhere down the line.

“If our business can grow, much bigger than it would have been, through the power of Bitcoin, so that more people know about us, so more people know about our services, then for somebody that believes in Bitcoin, that’s quite cool,” he said.

Edited by Stacy Elliott.

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June 25, 2025 0 comments

Product Reviews

The $50 Billion Company That Does Almost Nothing

by admin June 21, 2025

Something strange is happening on Wall Street. It isn’t Elon Musk, AI, or a late-night post from Donald Trump. It’s a crypto company called Circle Internet Group, and it’s making the market feel like the glory days of the dot-com bubble are back.

Circle went public on June 5. In just eleven trading sessions, its stock exploded by an almost unprecedented 675%, adding over $42 billion to its market cap. The company now trades at a valuation that puts it in the same league as tech unicorns and AI moonshots, commanding a price that has investors paying, in essence, $295 for every $1 of its earnings.

There’s just one problem. Circle doesn’t have revolutionary AI. It doesn’t build sleek consumer gadgets. Its business model is shockingly simple.

Here’s how it works: You give Circle a dollar. They give you a digital token, called USDC, worth that same dollar. They then take your actual dollar, invest it in something safe like short-term U.S. Treasury bonds, and collect the interest.

You get the token. They get the profit. That’s it. That’s the entire business.

This has led critics to label Circle as little more than a glorified “money wrapper.” So why is Wall Street treating it like the next Tesla?

The answer is one word: stablecoin.

USDC is a stablecoin, a digital token pegged to a stable asset, in this case, the U.S. dollar. The idea is that for every USDC token, there’s a real dollar sitting in a reserve account. This makes it incredibly useful for crypto traders who need the speed of digital assets without the wild volatility of Bitcoin.

And now, the bulls are betting that stablecoins are about to go mainstream. The Senate just passed the “Genius Act,” landmark legislation that paves the way for banks, fintechs like PayPal, and even retailers like Walmart and Amazon to use stablecoins for payments. Suddenly, the dream of crypto becoming a real alternative to Visa or Mastercard seems within reach.

Analysts are salivating. Citi predicts the stablecoin market could hit $3.7 trillion by 2030. In that scenario, Circle, as a neutral platform not tied to any single bank, is perfectly positioned to cash in.

But there’s a catch. The business model that seems so brilliant in a high-interest-rate environment is also its greatest weakness.

“Circle’s whole business is literally glued to Fed policy,” one user wrote in a viral post on Reddit’s r/wallstreetbets. “It’s a Treasury ETF in a trench coat.”

If the Federal Reserve cuts rates, Circle’s main revenue stream shrinks. There’s also nothing stopping bigger players from launching their own lookalike stablecoins, erasing Circle’s edge overnight. If everyone’s offering the same thing, Circle’s moat starts looking very shallow. And yet, Wall Street is piling in like it’s the next OpenAI. What if regulators change their tune? The entire model could be at risk. The business is remarkably fragile.

When contacted by Gizmodo, a spokesperson said the company was in a post-IPO “quiet period,” legally restricting it from making promotional statements.

For now, the hype is winning. Circle’s stock is on fire, fueled by the promise of a future where we all pay for our coffee with digital dollars. But beneath the surface, this $50 billion company doesn’t innovate or disrupt. It just holds your cash, gives you a digital receipt, and pockets the interest. And in the bizarre world of 2025 finance, that’s apparently enough to be crowned the new king of Wall Street.

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June 21, 2025 0 comments

Product Reviews

Chinese company Netease is making an AAA action-adventure game called ‘Blood Message’

by admin June 21, 2025

NetEase, the Chinese video game company that published Marvel Rivals and Bungie’s Destiny: Rising, has announced its first single-player AAA game. It’s a story-driven third-person action-adventure game called Blood Message, and as Polygon notes, it’s in the vein of Uncharted and Assassin’s Creed. The story is set in the final years of the Tang Dynasty, which ruled imperial China from 618 to 907. In Blood Message, players take control of a nameless messenger and his son “to deliver a message that holds the fate of their war-torn homeland.”

Players will have to journey through desolate deserts and the vast wilderness of East and Central Asia. The trailer shows the messenger and his son fighting enemies in the desert, surviving avalanches, working with mysterious characters and discovering ancient artifacts. It also shows the game’s cinematic cutscenes, stealth and survival mechanics, as well as the landscapes players can expect to see.

“We are ushering players into a new generation of high adventure with Blood Message,” said Zhipeng Hu, the Lead Producer and NetEase Executive Vice President. “As our first completely single-player focused experience from NetEase Games, after two decades of deep dedication to the gaming industry, we are prepared to deliver a truly epic and cinematic experience for players around the world.”

NetEase has yet to announce a release date, but Blood Message will be available for consoles and the PC. The game’s announcement shows that Chinese developers are increasingly making more inroads into the AAA space. Black Myth: Wukong, which is widely considered as the first AAA game from China, was originally released last year and will be available on the Xbox in August.

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June 21, 2025 0 comments

NFT Gaming

Company Plans $109B Bitcoin Holding by 2027 as Market Goes FUD

by admin June 20, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Bitcoin market is currently a tale of two cities. For the everyday trader, a palpable sense of uncertainty hangs in the air, while in the corporate world, it’s full steam ahead.

This division has placed the OG crypto at a fascinating juncture, with conflicting signals making it difficult to predict its next immediate move. While long-term sentiment appears overwhelmingly bullish, new innovations on the horizon are capturing the attention of those looking for the next explosive growth opportunity.

A Market Holding Its Breath

If you’ve been tracking $BTC lately, you likely have noticed the sideways chop. The lack of a clear directional trend is mirrored in market sentiment.

The closely watched Crypto Fear & Greed index has recently been hovering in neutral territory, showing indecisiveness among investors, in stark contrast to the greed that’s been dominating the previous weeks.

Crypto research firm Santiment has highlighted this split sentiment in its social media analysis, noting a near-even divide between bullish and bearish comments from traders.

This level of peak fear, uncertainty, and doubt (FUD) among the general public hasn’t been seen since Trump’s tariff war rattled the markets earlier in the year.

Interestingly, Santiment suggests this is often a bullish contrarian indicator, as markets have a history of moving against the expectations of the retail crowd.

Corporate Confidence Paints a Different Picture

While retail traders are on tenterhooks, corporate treasuries are opening their wallets. The long-term perspective for $BTC appears decidedly bullish, driven by significant corporate inflows.

A prime example is healthcare tech firm Semler Scientific, which recently announced an ambitious plan to increase its $BTC holdings to a staggering 105K by 2027. At current prices, this represents a multi-billion-dollar commitment, signaling a profound belief in $BTC’s future as a reliable store of value.

Santiment’s data shows that while smaller wallets have been selling, the large whale wallets have been consistently accumulating.

This divergence has historically been a recipe for bullish momentum. Smart money is positioning for a significant upward move in the long run.

If the market enters a bullish move, the best altcoin projects like Bitcoin Hyper ($HYPER), which plans to expand the Bitcoin ecosystem, could see explosive inflows as they capitalize on the digital gold’s longevity.

The Evolution of Bitcoin: Enter Bitcoin Hyper ($HYPER)

While $BTC has solidified its role as digital gold, its network’s growth is limited by slow transaction speeds, despite unmatched security. Bitcoin Hyper ($HYPER) is engineered to solve this core design flaw.

Despite being Bitcoin’s new Layer-2 solution, Hyper relies on the speed and efficiency of the Solana Virtual Machine (SVM). The integration brings what the Bitcoin ecosystem has been missing: lightning-fast transactions, low fees, and the full capacity for smart contracts, opening doors to new applications.

By bridging Bitcoin’s robust security with Solana’s high-performance architecture, Bitcoin Hyper allows for a whole new ecosystem to flourish on the world’s most trusted blockchain.

All Eyes on $HYPER

The buzz around $HYPER is already palpable. The project’s presale has seen remarkable success with $1.4M in funding, demonstrating strong investor confidence.

This isn’t just about speculation; it’s about fundamental value propositions. By enabling developers to build sophisticated applications on a Bitcoin-secured layer, Bitcoin Hyper could capture a significant portion of the value that will be created in this new ecosystem.

$HYPER is an opportunity to get in on the ground floor of what could be the next major evolution in the crypto space. The project is trying to unlock Bitcoin’s full potential as both a store of value and a comprehensive dApp ecosystem.

If you don’t want to miss the next evolution of Bitcoin, buy $HYPER for $0.01195 now in presale with impressive 527% staking rewards. We predict $HYPER could go as high as $0.32 by the end of 2025, giving you a potential ROI of 2,577% if you bought today.

Building Bitcoin’s Future at This Very Moment

As the broader market looks for the next bull run catalyst, innovative solutions like Bitcoin Hyper that address core blockchain challenges are poised for significant attention and growth.

While $BTC’s price continues its consolidation, the development of its ecosystem is more important than ever.

Remember this is not financial advice, and you should do your own research before making any investments. Only invest what you can afford.

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June 20, 2025 0 comments

Product Reviews

Intel claims 18A, the node Pat bet the company on, is either 25% faster or 38% more efficient than Intel 3. Though that’s a node Intel didn’t have enough faith in to release for desktops or laptops

by admin June 19, 2025

Intel has been deep diving on its upcoming 18A chip node at the VLSI Symposium in Japan. And if the company’s claims are to be believed, 18A is looking pretty sweet. Among other factoids, Intel says it’s either up to 25% faster at the same power level, or up to 38% more efficient at the same frequency compared with the Intel 3 node. That’s very promising for laptop battery life in particular.

Of course, Intel 3 is a node of which we have absolutely zero experience. That’s because Intel has never used Intel 3 for a consumer chip, choosing instead to go with TSMC’s N3 node for both its Lunar Lake laptop chip and latest Arrow Lake desktop and mobile CPU family, as used for the Intel Core Ultra 9 285K.

The most advanced Intel node in the PC is Intel 7, which is a rebrand of Intel’s infamous 10nm technology, which ended up arriving the better part of a decade late. Anyway, what to make of these claims from Intel?

Specifically and compared to Intel 3, Intel says that in low voltage 0.65 V operation, 18A is either 18% faster or 38% more efficient, while in high voltage 1.1 V mode, it’s 25% faster or 36% more efficient. In other words, in low voltage mode you can either run the same clock speed as Intel 3 and use 38% less power, or use the same power and enjoy 18% faster clocks.

Meanwhile, in the high performance, high voltage mode, you can choose between either 25% higher clocks for the same power consumption as Intel 3 or the same clocks with 36% lower consumption.

Intel didn’t fancy its own Intel 3 node for Arrow Lake. (Image credit: Ordinary Uncle Tony)

Any way you slice it, these are very nice numbers. It’s just hard to draw too many conclusions given the scarcity of comparable Intel chips on the Intel 3 node. For now, it’s only the Xeon 6 Granite Rapids server CPU, launched earlier this year, that’s built on Intel 3.

Moreover, the fact that Intel passed over Intel 3 for Lunar Lake and Arrow Lake hardly seems like a vote of confidence in its own manufacturing tech. The point being that Intel also made some bullish claims about Intel 3 and an 18% performance-per-watt increase over Intel 4, but it seems like we’ll never get an Intel 3 chip in a PC.

What’s more, even if these claims are accurate, there’s the question of yields. Can Intel actually produce 18A chips at scale? Answers to all these questions will presumably come later this year when the Panther Lake mobile CPU with an 18A CPU die is supposed to be released.

If Intel’s numbers are accurate, Panther Lake ought to be a much more efficient laptop CPU, enabling clearly improved battery life. At least, that’s compared to Intel 3. Exactly how 18A compares with TSMC N3, which is the node used by Intel for Lunar Lake’s CPU cores is a separate matter.

The takeaway here, then, is that this is all very complicated. Intel has released some very promising numbers. But they involve comparison with another Intel node which itself is only available in a range of server chips and it’s unclear how 18A stacks up against TSMC’s competing technology.

The proof will be in the processing, so to speak, when Panther Lake arrives at the end of this year. It’s been a long time coming, but no CPU has ever felt as critical for Intel as Panther Lake.

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June 19, 2025 0 comments

Game Updates

Nexus Mods’ new owner is a company whose co-founder has already had to reassure folks that NFTs and crypto aren’t incoming

by admin June 17, 2025

Yesterday, modding site Nexus Mods announced a change in ownership that’ll see its founder step back. Not much info was provided in the announcement as to who the new owners were, but it’s now been confirmed to be a company called Chosen.

As we reported yesterday, the ownership change announcement penned by Nexus mods founder Robin ‘Dark0ne’ Scott didn’t go into much detail as to the identity of those being handed the reigns. A Victor and a Marinus were cited as having “come on board to lead this next chapter”, along with links to their Nexus Mods profiles that only offered brief bios.

We reached out to Nexus Mods yesterday in order to try and learn more about the identity of the new owners, and were provided with a statement by community lead Mathew Elliott.

“We didn’t go into too much detail about the new ownership in the initial post, but the community has been quick to put on their investigator hats, digging into the new owners’ identities, backgrounds, beliefs, even their favorite football teams, and speculating on what this might mean for modding,” it said, “A bit of Reddit or Twitter sleuthing will surface most of what they’ve found.” It added that the new owners are “very hands-on and are now embedded directly with the team in our offices.”

The community sleuthing Elliott referenced was this ResetEra thread, which saw users RandomlyRandom67 and chocobalt conclude that the new owners are a company called Chosen, with co-founders Victor Folmann and Marinus Elgaard believed to be the Victor and Marinus referred to in Scott’s post. This has now been confirmed via a stickied comment on Scott’s original post.

In it, Folmann, Elgaard, and Nikolaj Nyholm address Scott’s post not mentioning Chosen by name, writing: “This post wasn’t about Chosen — it was about Robin and the legacy he built over 24 years. We’re the new owners and ultimate decision-makers at Nexus Mods. We’ll share more about ourselves when we’ve earned that right. For now, we’re focused on listening, learning, and making modding even easier, and yes, you’ll see us around in the community being active.”

The trio assert that they don’t plan to start charging for mods or revoking lifetime premium subscriptions, adding in terms of monetisation in general: “We’re not changing the core model. No aggressive monetisation. No paid mods. If anything, we’re aiming for fewer ads, not more.”

Chosen, which was only founded in January 2025, state their aim as being to “partner with founders to help scale what they’ve built—amplifying their impact, supporting their team and culture, and ensuring the business thrives for the long term.” Basically, they look to be in the business of buying into or buying up community-focused platforms (their website cites previous work with the likes of EA FC community databases FUTBIN and RenderZ), and running them, with founders offered the chance to stay on board or take a “quick, straightforward exit” that Chosen claim shouldn’t leave them worrying about their creation going down the pan.

Folmann’s LinkedIn activity came under scrutiny following the aforementioned ResetEra sleuthing, including a ‘Gaming startup monetisation cheat sheet’ that mentions NFTs and crypto, originally posted seven months ago. When a commenter fretted about these features being added to Nexus Mods, Folmann responded “100% agree — not happening”.

Another post from four months ago sees him predict that in 2025 “AI will enable solo devs to create $100M hits and 2-person teams to build AAA games”, and claim “AI-powered modding will revolutionise game development”.

We’ve reached out to Nexus Mods and Chosen for comment.

It’ll be interesting to see how all of this plays out, but originally announcing the ownership change in a way that left folks needing to do some pretty in-depth detective work to find out exactly who was taking over seems a strange and counterproductive move on Nexus Mods’ part, at least from a PR perspective.

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June 17, 2025 0 comments