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Ethereum Foundation Sets Treasury Strategy to Back DeFi, Cut Spending Over Time

by admin June 5, 2025



In brief

  • Following community feedback, the policy seeks to normalize the foundation’s approach to selling ETH.
  • The foundation plans to reduce annual expenses from 15% to 5% over the next five years.
  • It’s also adopting a set of “Defipunk” principles to screen DeFi protocols before deploying its treasury assets.

The Ethereum Foundation has published a new treasury policy that aims to reshape how its reserves are held and invested, seeking to rewrite the playbook in a way better suited to the on-chain world it helped create.

The new set of treasury policies marks two key moves from the non-profit organization that stewards development for the Ethereum ecosystem. 

It aims to reduce annual spending from 15% of assets to just 5% by 2030 and will also seek to utilize its treasury for DeFi protocols.

Those prospects are projected to “earn acceptable returns on treasury assets” while staying “consistent with Ethereum’s underlying principles,” Hsiao-Wei Wang, co-executive director at the foundation, wrote Wednesday.

The new policies formalize a lower spending trajectory and a rule-based approach for converting the foundation’s Ethereum reserves into cash.

It plans to achieve this by committing to reduced annual operating expenses and creating a predictable “glide path and baseline” toward spending, Wang explained.

The foundation “expects to remain a long-term steward, but envisions its scope gradually narrowing,” Wang claimed.

The rule-based conversion, meanwhile, works by automatically selling Ethereum (ETH) only when cash reserves fall below the 2.5-year expense buffer (approximately 37.5% of the treasury), Wang wrote.

For every quarter, the Ethereum Foundation will sell a portion of its Ethereum reserves based on the amount of cash required, converting the Ethereum to fiat through exchanges or on-chain swaps.

The target cash reserve, calculated as annual operating spend, multiplied by the desired runway, “directly informs the size and the cadence of ETH sales,” Wang noted.

Decrypt approached the Ethereum Foundation to learn more.

Ethereum goes ‘Defipunk’

In the note, the foundation introduced “Defipunk,” a new term that describes how “cypherpunk” values can be applied to DeFi (decentralized finance) and the broader Ethereum ecosystem.

The term is derived from and borrows core ideas in the Cypherpunk Manifesto, written by American programmer and mathematician Eric Hughes in 1993.

In the manifesto, Hughes argues that privacy is essential for a free and open society. To keep it, individuals need to build practical defenses through cryptography and code, rather than relying on the authority of governments or corporations.



The foundation has established criteria for projects it seeks to support, aligning with the vision.

“For privacy to be widespread, it must be part of a social contract,” Hughes wrote.

The Ethereum Foundation echoes this, with Wang noting that privacy has “inherent network effects,” and yet has received “very little attention so far.”

“Strong, early institutional support” from entities such as the Ethereum Foundation could be “uniquely valuable in flipping the equilibrium” for privacy in the decentralized finance sector, Wang wrote.

Edited by Sebastian Sinclair

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June 5, 2025 0 comments
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21Shares sets 3-for-1 share split for its spot Bitcoin ETF
NFT Gaming

21Shares sets 3-for-1 share split for its spot Bitcoin ETF

by admin June 3, 2025



21Shares US LLC announced a 3-for-1 share split for its flagship ARK 21Shares Bitcoin exchange-traded fund, ARKB, aiming to make the fund more accessible to retail investors.

The move, announced in a company press release on June 2, will take effect at the opening of markets on June 16. The split will triple the number of shares available, reducing the price per share without affecting the fund’s overall value. 

21Shares stated that the split is intended “to make shares more accessible to a broader base of investors and enhance trading efficiency.” ARKB will continue to trade under its current ticker, with no changes to its net asset value, investment strategy, or underlying Bitcoin (BTC) holdings. 

The fund is a physically backed spot Bitcoin ETF that tracks the New York Variant of the Chicago Mercentile Exchange CF Bitcoin Reference Rate. It provides direct access to Bitcoin in a regulated investment environment. 

ARKB, which is now trading at $104.33, has gained about 27% in the last quarter and nearly 12% this year. The fund currently holds 45,410 Bitcoin, which is worth about $4.82 billion, as per SoSoValue data.

On June 2, it recorded a trading volume of $53.68 million and a single-day outflow of 700 BTC, or roughly $73.9 million. Coinbase Custody is the main custodian, with BitGo and Anchorage Digital Bank helping to lower counterparty risk.

The share split comes at a time when interest in crypto ETFs is growing rapidly, following the Securities and Exchange Commission’s landmark approval of spot Bitcoin funds in January 2024.

Since then, the ETF market has expanded rapidly, with $125 billion now held across 11 U.S.-listed Bitcoin ETFs. According to data from SoSoValue, the sector has drawn $5.26 billion in net inflows over the past month alone.

21Shares is positioning the split as part of a strategy to drive retail participation. With Bitcoin recently climbing above $100,000, lowering the per-share cost could attract new investors while maintaining institutional appeal.

The company launched the first physically-backed crypto exchange-traded product in 2018. In addition to ARKB, its U.S. offerings include the ARK 21Shares Active Bitcoin Futures Strategy ETF, which trades Bitcoin futures, and the ARK 21Shares Blockchain and Digital Payments ETF, which targets companies building products in blockchain infrastructure and digital finance.



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June 3, 2025 0 comments
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10,620,000,000 in 24 Hours, Shiba Inu Sets Unexpected Volume Record
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10,620,000,000 in 24 Hours, Shiba Inu Sets Unexpected Volume Record

by admin June 2, 2025


Shiba Inu’s (SHIB) trading volume has crashed within the last 24 hours as prices continue to experience downward movement within the same time frame. After breaching the $0.000013 support, SHIB has continued to fluctuate despite bullish sentiment in the community.

Shiba Inu volume plunges despite market activity

According to CoinMarketCap data, Shiba Inu recorded a 12.3% decline in volume to $135.73 million. This amounts to 10,620,000,000 SHIB within the past 24 hours. This massive crash is one of the highest among altcoins within this period. This suggests that the dog-themed meme coin remains troubled as investors monitor trends.

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SHIB’s volatility had plunged the meme coin to a depth of $0.00001272 as the sell pressure mounted before posting a recovery. It is changing hands at $0.00001283, representing a 0.43% increase in the last 24 hours.

The 10.62 billion tokens are unusual compared to the performance of other altcoins. The king of the meme coins, Dogecoin, also suffered a similar decline, with an 8.78% drop to $979.47 million.

This unexpected drop might have triggered large holders to sell off in either a profit-taking or portfolio rebalancing move.

Meanwhile, SHIB’s burn mechanism, designed to reduce circulating supply, has also dramatically dropped. In the last 24 hours, the burn rate plummeted by 20.64% as only 16,457,713 SHIB tokens were incinerated.

SHIB’s June historic red streak and 2025 hopes

As U.Today reported, June is a bearish month for the meme coin. Shiba Inu has never closed the month of June in the positive. It has always posted red candles for the altcoin.

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Technical indicators of SHIB have not shown enough promise that the token could reverse this trend. Most of the metrics for a potential rebound remain in the red zone and bearish.

Despite these signals, traders remain optimistic that SHIB might register a surprise in 2025. They anticipate a possible rally soon and see this period as a consolidation phase for the meme coin.



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June 2, 2025 0 comments
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New Lego Lord Of The Rings & Harry Potter Sets Are Unique Bookshelf Decorations
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New Lego Lord Of The Rings & Harry Potter Sets Are Unique Bookshelf Decorations

by admin May 28, 2025



Lego couldn’t have picked a better reference to use in the Lord of the Rings: Book Nook. The 1,201-piece set features a buildable Balrog figure with a placard that reads: “You shall not pass.” This pays homage to the conversation between Gandalf, who is represented as a Lego minifigure, and a Balrog in the movie adaptation of The Fellowship of the Ring. In the J.R.R. Tolkien novel, the exchange is worded “cannot pass” instead of “shall not pass.”

Lego’s new Book Nook display models can be displayed in multiple different ways. After building the frame that houses Balrog and Gandalf, you can close it like a book, as shown above, and wedge it between two Lord of the Rings books on your bookshelf. Every time you look at it, the Balrog will remind you that you should probably read The Hobbit before The Lord of the Rings.

For big readers who own numerous copies of The Lord of the Rings and The Hobbit, this Lego set looks like a cool way to spice up a shelf filled with collectible editions of Tolkien’s fantasy stories.

That said, it’s also the cheapest Lord of the Rings Lego set in print right now–by a considerable margin. The only other Lord of the Rings Lego sets currently being produced are the 5,471-piece Barad-dur tower for $460, the sprawling 6,167-piece Rivendell replica for $500, and the recently released recreation of The Shire for $270.

For that reason, the Balrog Book Nook could be of interest to fans who read all of their books on Kindle. You can display the Balrog and Gandalf minifigure with the frame unfolded. The base has flames extending upward on both sides of the Balrog. When opened, the Book Nook is 17.5 inches wide, 8.5 inches tall, and 6.5 inches deep. Alternatively, you can remove the Balrog and Gandalf minifigure from the base altogether.

If you need more Lord of the Rings books to keep the Balrog Book Nook company, check out our newly published roundup of new and upcoming Tolkien book box sets and budget-friendly collector’s editions.



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May 28, 2025 0 comments
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Circle
NFT Gaming

Circle Sets The Record Straight: No Talks Of Sale To Coinbase Or Ripple

by admin May 27, 2025


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

Circle, the issuer of the USDC stablecoin, has firmly denied reports suggesting it is engaged in informal discussions regarding a potential sale to either US-based crypto exchange Coinbase or blockchain payment company Ripple. 

This denial comes in light of a report from PYMNTS, which highlighted that Circle remains focused on its initial public offering (IPO), initially filed in April.

Circle Focuses On IPO Despite Ongoing Acquisition Interest

A spokesperson for Circle stated to the news outlet, “Circle is not for sale. Our long-term goals remain the same.” This statement follows claims made by Seeking Alpha, which referenced a paywalled article from Fortune indicating that Circle was seeking a valuation of at least $5 billion in its negotiations with Coinbase and Ripple as well as in its upcoming IPO.

Earlier reports had indicated that Circle rejected a takeover bid from Ripple, which ranged between $4 billion and $5 billion, citing the offer as too low. While Ripple has expressed ongoing interest in acquiring Circle, it has not made a decision regarding a new offer, as Circle continues to pursue its IPO.

Circle’s IPO plans have seen a resurgence after a previous delay in December 2022. The company announced on April 1, 2024, that it had engaged investment banks to underwrite the IPO, although the exact timing for the public offering has yet to be determined. 

The renewed interest in public offerings within the cryptocurrency sector is partly attributed to a wave of digital asset megadeals propelled by a crypto-friendly administration under President Donald Trump and a more relaxed regulatory environment in the US.

Ripple, Coinbase, Pursue Major Growth Strategies

In recent weeks, Ripple made headlines by acquiring prime brokerage Hidden Road for $1.25 billion, a move that positions it as the first cryptocurrency firm to own and operate a multi-asset prime broker. 

Coinbase, on the other hand, has also been active in expanding its reach. On May 9, the company announced plans to acquire Dubai-based crypto derivatives exchange Deribit for $2.9 billion, aiming to strengthen its position in the global derivatives market.

In addition to its IPO endeavors, Circle has also been pursuing strategic acquisitions. On January 21, the company announced its acquisition of Hashnote, the issuer of the USYC stablecoin, which is incubated by Cumberland Labs, the largest tokenized treasury and money market fund globally. 

The stablecoin issuer’s CEO Jeremy Allaire remarked that this acquisition would unlock significant potential in a market increasingly driven by institutional adoption, where participants expect market structures akin to traditional finance.

The daily chart shows XRP’s price consolidation. Source: XRPUSDT on TradingView.com

When writing, XRP, the fourth largest cryptocurrency in terms of market cap, trades at $2.31, failing to seize Bitcoin’s (BTC) momentum after reaching a new all-time high, with the altcoin registering losses of 9% in the past fourteen days. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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May 27, 2025 0 comments
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Gail and Ellie in The Last of Us
Esports

The Last of Us Season 2 ending sets up a bold & divisive Season 3

by admin May 26, 2025



You’ve just seen the words “Seattle Day One” at the end of The Last of Us Season 2 and you’re confused about what’s going to happen in Season 3. Don’t worry, you’re in the right place.

Anyone who played The Last of Us Part 2 knew the second season wasn’t going to be an easy watch. After all, Joel’s brutal death at the hands (and golf club) of Abby is the catalyst for the story, sending Ellie on a bloody, traumatic path of revenge to Seattle.

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In the finale, after torturing Nora for information about Abby and her crew’s whereabouts, she travels alone to the city’s aquarium to confront them. It… doesn’t go well, to the point she returns to the theater and they decide to go home.

Unfortunately, this is where things get even worse for Ellie, and the ending of The Last of Us Season 2 has teed up a bold shift.

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How does The Last of Us Season 2 end?

HBO

The Last of Us Season 2 ends with Abby killing Jesse at the theater and holding Ellie and Tommy at gunpoint. It’s then implied that Abby shoots Ellie, before the episode cuts to Abby three days earlier at the WLF base.

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Ellie steals a boat to get to the aquarium, but a huge wave knocks her into the sea, and she ends up washing up on the shore of the Seraphites’ island. Just as they’re about to hang her, they’re called to help in the village (if you played Part 2, you know what’s happening here), so they leave her, allowing Ellie to get back to the boat and continue her route to the aquarium.

When she arrives, Abby is nowhere to be found – but she encounters Owen and Nora. As Owen grabs his gun, Ellie shoots him – and the bullet goes straight through him and hits Nora (bear in mind that she was kind to Dina when Abby killed Joel and she clearly disagrees with her actions).

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Then comes a brutal twist: Nora is pregnant, and she asks Ellie to perform an emergency cesarean to recover the baby. Ellie panics, and Nora slips away before she can do anything. As Ellie sits alone in shock, struggling to accept what she’s done, Tommy and Jesse arrive and take her back to the theater.

Later, Tommy maps out the route to get back to Jackson, and he asks Ellie if she’ll be able to live with the fact that Abby gets to live. “I guess I’ll have to,” she says.

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As Jesse and Ellie patch things up, they hear a clatter outside. As they run to make sure Tommy is okay, they burst through the doors… and Abby is waiting for them. She shoots Jesse in the head, killing him instantly, and holds Tommy at gunpoint on the ground.

Ellie begs her to let Tommy live and explains that she’s responsible for Owen and Nora’s deaths, as well as the fact that Joel killed the Fireflies to save her, so she’s the one Abby wants.

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“I let you live… and you wasted it,” Abby tells her, before turning the gun on her. As she pulls the trigger, the screen cuts to black.

‘Seattle Day One’ is the set-up for The Last of Us Season 3

Before the finale ends, the episode cuts to Abby lying on a couch. Manny walks in and tells her that Isaac wants to see them, so she gets up and walks along the corridor. As she steps outside, it’s revealed that she’s staying in a stadium that’s been converted into a WLF base.

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She looks over the railing, and she steps away, three words appear on the screen: “Seattle Day One.”

This could be a bit confusing to someone who’s never played the game. Cast your mind back to when Ellie and Dina arrived in the city – the same words appeared on the screen.

In short, the ending of Episode 7 has confirmed that Season 3 will almost exclusively follow Abby in those same three days in Seattle, all leading to that fateful confrontation with Ellie in the theater.

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That’s not to say we won’t get any scenes with Ellie in the next season, but it will primarily focus on Abby, as confirmed by Catherine O’Hara. “It’s the Abby story,” she told Variety.

This comes straight from the game, with Part 2 switching the player’s POV and forcing people to play as Abby for a substantial portion of the story. It’s a bold, ingenious move, forcing you to have compassion for Joel’s killer – and, despite the game’s acclaim, it remains incredibly divisive to this day.

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Also, Season 3 may be longer than seven episodes, so the show may expand Abby’s story (and manage to incorporate Ellie more than fans of the game may be expecting).

“I think there’s a decent chance that Season 3 will be longer than Season 2, just because the manner of that narrative and the opportunities it affords us are a little different,” Craig Mazin told Collider.

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Without any spoilers, let’s just say that Season 2 hasn’t even got halfway through the story of the game – and if things go to plan, the show will end with a fourth season.

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“But certainly, there’s no way to complete this narrative in a third season. Hopefully, we’ll earn our keep enough to come back and finish it in a fourth. That’s the most likely outcome,” he added.

After you’ve watched the finale, check out what else is coming out this year with our 2025 TV show calendar. You can also read our list of the best video game movies and the best TV shows of all time.

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May 26, 2025 0 comments
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Dell Pro Max Plus
Gaming Gear

Dell’s super-powered new mobile workstation has one crucial feature which sets it apart from all the competition

by admin May 25, 2025



  • Dell Pro Max Plus laptop is the first to feature an enterprise-grade discrete NPU
  • It features a Qualcomm AI 100 PC Inference Card with 32 AI-cores and 64GB memory
  • This offers the opportunity to carry out high-intensity AI tasks, even on the move

Dell has unveiled an AI PC with a never-before-seen feature it hopes will spur on the next levels of productivity.

Revealed at Dell Technologies World 2025, the new Dell Pro Max Plus laptop is the first to feature an enterprise-grade discrete NPU, offering the opportunity to carry out high-intensity AI tasks even on the move.

The mobile workstation features a Qualcomm AI 100 PC Inference Card with 32 AI-cores and 64GB memory, which Dell says should be more than enough to handle the needs of AI engineers and data scientists deploying large models for edge inferencing.


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Dell Pro Max Plus

(Image credit: Dell Technologies)

Speaking at the event, company CEO Michael Dell addressed the upcoming Windows 10 end of life, hinting that for many users, the ideal solution is to buy an AI PC such as the Dell Pro Max Plus.

“Personal productivity is being reinvented by AI,” Dell said, “the install base of a billion and half PCs is ageing, and it’s being replaced with AI innovation.”

“The Windows 10 end of life is coming, and we are ready – Dell is the leader in commercial AI PCs, and we’re further distancing ourselves from the competition.”

The CEO highlighted the new Dell Pro Max device during his keynote address, noting it would be ideal for developers and scientists, offering up to 20 petaflops of performance due to embedded Nvidia GB300 hardware, and up to 800GB of memory – enough to run and train models with a trillion parameters.

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“Today’s PCs are becoming AI workstations – blazing fast, all-day battery life powered by NPU and GPU innovation,” Dell declared.

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May 25, 2025 0 comments
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GameFi Guides

Ethereum, Solana and Dogecoin Jump as Bitcoin Sets Another Record Price

by admin May 25, 2025



Bitcoin keeps rising Thursday, inching up to yet another all-time high mark after beating its four-month-old record on Wednesday. And that momentum appears to be spreading to other top coins, which have put up even larger daily gains than Bitcoin.

As of this writing, Bitcoin just hit a new record price of $111,808, per data from CoinGecko, continuing upward after first breaching the $110,000 mark late Wednesday. Bitcoin is now up 4.5% on the day and 22% over the last 30 days.

The leading cryptocurrency by market cap has completed a significant rebound after dipping to under $75,000 in early April amid President Trump’s growing global trade war. As Trump’s tariffs push has cooled amid deals with key trading partners, investors are again growing comfortable with risk-on assets, propelling crypto and stocks alike.

Other the last day, Ethereum, Solana, and Dogecoin have all jumped by about 7%, beating Bitcoin’s own daily gain.

Ethereum currently sits at $2,662, pushing its monthly gain to a whopping 56%, while Solana is priced at $179 (up 24% this month) and Dogecoin has barked its way up to $0.242 for a nearly 41% spike in the last 30 days.



Looking broadly to the top 100 coins by market cap, the biggest gainers over the past day are Worldcoin (WORLD), up 36% and propelled by a sizable $135 million token sale announced Wednesday, along with the HYPE token of decentralized exchange Hyperliquid (up 23%) and rising meme coin Fartcoin with its 17% climb.

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May 25, 2025 0 comments
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Tolkien Collectible Book Sets Are Up For Preorder - Myths, Legends, Tales Of Middle-earth
Game Updates

Tolkien Collectible Book Sets Are Up For Preorder – Myths, Legends, Tales Of Middle-earth

by admin May 24, 2025



J.R.R. Tolkien fans can soon add two display-worthy book box sets to their collection. Tolkien Myths and Legends Box Set, which features lesser-known original works and translations of classic English literature, releases on June 10. It will be followed up on August 19 by new editions of The Great Tales of Middle-earth, which is comprised of the final three prose novels set in Tolkien’s iconic fantasy world. The new hardcover box sets feature lavish cover art and display cases. They are considered the fifth and sixth entries in a series of hardcover book box sets that debuted last year with the The History of Middle-earth, which was published by William Morrow in its entirety across four beautiful collections.

$125 | Releases June 10

The Tolkien Myths and Legends Box Set is a unique collection of J.R.R. Tolkien’s work, because it doesn’t contain stories about Middle-earth. Instead, as the title suggests, it compiles classic myths and legends, two of which were written by the author, while the other two were personal translations of some of his favorite works that inspired him.

Like the vast majority of his posthumously published work, these were pieced together and edited by his son, Christopher Tolkien. Each hardcover book comes with a double-sided dust jacket. Just like The History of Middle-earth Box Sets, one side features elaborate artwork, while the other side has a more subdued aesthetic with solid colors. The four books come packaged in an eye-catching display case.

Sir Gawain and the Green Knight / Orfeo / Pearl: Translations of a trio of classic epic poems juxtaposed with Tolkien’s famous 1953 lecture on Sir Gawain.

The Legend of Sigurd and Gudrún: An epic verse poem by Tolkien. It was inspired by classic poetry and Norse mythology. Along with Tolkien’s composition, you’ll find notes and commentary from Christopher Tolkien.

The Fall of Arthur: A narrative poem written by Tolkien that chronicles King Arthur’s final days. The book includes extensive notes made by Tolkien while drafting his only Arthurian legend. Fans of The Silmarillion will want to read this one, as it clearly inspired the plot of Tolkien’s Arthurian-esque Middle-earth book.

Beowulf: One of the most famous–and the oldest known—epic poem of Old English literature, Beowulf has received many translations. Tolkien wrote his translation in 1926 and then circled back later. In addition to the translation of the original poem, this book contains a plethora of commentary by Tolkien himself, which will give readers a glimpse into the mind of Tolkien the scholar.

If you’re interested in the Myths and Legends Box Set, you should also check out The Collected Poems of J.R.R. Tolkien, a massive three-volume hardcover box that released last fall. The gorgeous box set, which is on sale for nearly 50% off, compiles Tolkien’s life’s work as a poet and clocks in at over 1,700 pages.

$125 | Releases August 19

The Great Tales of Middle-earth is a must-read collection for all dedicated fans of The Lord of the Rings. Though understandably not nearly as well-known as The Hobbit, LOTR, or even The Silmarillion, the trio of novels in this set are the final pieces of prose fiction that take place across the author’s iconic brilliant fantasy world. All of the stories take place during Middle-earth’s First Age, so while written and published later than Tolkien’s other books, these are the oldest full-length stories in Middle-earth.

The new 2025 hardcover editions come with reversible dust jackets and feature special color plates, pencil drawings, and illustrated maps by Christopher Tolkien and beloved LOTR illustrator Alan Lee.

Here are the three books you’ll find in the beautiful display case, which features a fire-breathing dragon.

The Children of Húrin (2007): Written after The Silmarillion as a standalone prequel story, The Children of Húrin takes place 6,000 years before the events of LOTR. The story follows the cursed son of Húrin, named Túrin, during an era of intense and constant war and widespread devastation caused by the Dark Lord Morgoth. If you’ve read The Silmarillion, you will recognize some of the names found in this novel.

Beren and Lúthien (2017): Another very early tale set in Middle-earth, Beren and Lúthien was reworked and revised over time and eventually became part of The Silmarillion. This compilation of Lúthien and Beren’s story was originally published in 2017. It shows the evolution of the love story between the mortal man Beren and immortal elf Lúthien.

The Fall of Gondolin (2018): Founded by King Turgon, the eponymous city of elves was concealed for many years before Lord Morgoth’s quest to destroy elven life across Middle-earth. The Fall of Gondolin’s main protagonist is Túrin’s cousin, Tuor, and his family. Tuor is married to Turgon’s daughter, Idril. The story follows their attempt to save their child after the Gondolin (unsurprisingly) falls.

It’s worth noting that The Great Tales of Middle-earth is already available as a hardcover box set. While it won’t match Myths and Legends or the four History of Middle-earth Box Sets, the 2018 hardcover collection is on sale for only $50 (was $100) at Amazon. Alternatively, you can purchase each book individually in hardcover or paperback.

The Great Tales of Middle-earth Editions:

J.R.R. Tolkien – The History of Middle-earth Box Sets (2024)

The History of Middle-earth was originally published over a 14-year stretch from 1983 to 1996. While creating his fantasy world, Tolkien took extensive notes, building a backstory for Middle-earth across three different ages and 6,500-plus years. You could argue that the author’s dedication to crafting the setting that would become home to a pair of landmark fantasy novels turned Middle-earth into the most believable character Tolkien created. His mythopoeic writings formed what is commonly referred to as Tolkien’s legendarium.

At the time of Tolkien’s death in 1973, the exhaustive backstory of Middle-earth remained unpublished. Over the next few years, his son and literary executor, Christopher Tolkien, undertook the daunting project of editing, expanding, and curating the legendarium into publishable works. The legendarium would become a 12-volume series titled The History of Middle-earth.

Though The Silmarillion is now included in modern editions of the series–it’s Book 1 in the newest box sets–the collection of myths was first published in 1977. If it had been Tolkien’s decision, The Silmarillion would have been published after The Hobbit. When his publisher turned down the manuscript, Tolkien pivoted to the story that would become The Lord of the Rings.

Over the years, he continued to revise and expand The Silmarillion. Early drafts and branching stories penned while reworking the manuscript would become key components of his legendarium. As such, The History of Middle-earth, in part, showcases Tolkien’s development as a worldbuilder. This is why The Silmarillion is presented as the first book in The History of Middle-earth. To get the most out of the sprawling Middle-earth character study, it’s wise to read the interconnected myths within The Silmarillion.

For the 2024 hardcover box set releases, publisher William Morrow reorganized The History of Middle-earth into 15 separate books, including the invaluable reference Index. The series is a substantial undertaking, as it clocks in 5,328 pages across its 15 volumes. With Amazon’s current prices, you can get all four box sets for $262 (was $475), which saves you over $200.

Check out all four of the 2024 Middle-earth box sets below. An alternative to the 15-book collection is the weighty three-volume hardcover set released in 2020. Totaling 5,440 pages–over 1,800 pages per book–The Complete History of Middle-earth Box Set is an understated, brilliantly designed trio of hardcovers that’s available for $138 (was $250). For a sampling of what the series has to offer, there’s a five-book paperback box set for $28 (was $50).

$63.37 (was $125)

The History of Middle-earth Box Set 1 comes with four hardcover books with reversible dust jackets adorned with brand-new scenic landscape artwork. If you prefer a “quieter” look, the opposite side has a traditional artwork with solid color backgrounds. All four dust jackets have different primary colors, regardless of which side you want to use for display, which gives it a unique, eye-catching appearance.

The History of Middle-earth Box Set 1 released in February 2024 and is discounted by roughly 50% at Amazon. Together, the four hardcover books listed below total 1,536 pages.

  • The Silmarillion
  • Unfinished Tales
  • Book of Lost Tales, Part I
  • Book of Lost Tales, Part II

$57.18 (was $100)

  • The Lays of Beleriand
  • The Shaping of Middle-earth
  • The Lost Road

The History of Middle-earth Box Set 2 is the only collection with three books instead of four. As a result, the set sold for $100 when it released in May 2024. Right now, you can get the 1,264-page collection for only $57.

$68 (was $125)

  • Morgoth’s Ring
  • The War of the Jewels
  • The Peoples of Middle-earth
  • The History of Middle-earth Index

Published in September 2024, The History of Middle-earth Box Set 4 concludes the series and even comes with a standalone edition of the Index, which is a handy book to reference while poring over the sprawling Middle-earth histories, lore, and stories. You can purchase the 1,264-page collection for $68 (was $125) at Amazon.

More J.R.R. Tolkien Book Box Sets

The Lord of the Rings: Deluxe Illustrated Box Set (2024)

William Morrow’s new hardcover box sets with reversible covers are far from the only stunning Tolkien collections that are worth checking out. The Lord of the Rings has received many different box sets over the years, including a superb high-end edition last fall. The Lord of the Rings: Deluxe Illustrated Box Set remastered the fan-favorite 1992 set with illustrations by Alan Lee. With over 50 new drawings and paintings, silver foil-stamped covers, and hybrid cloth-leather bindings, these editions are truly a sight to behold. The foil-stamped clothboard display case holds all three parts of The Lord of the Rings as well as three exclusive art cards and two foldout maps by Christopher Tolkien.

The LOTR Deluxe Illustrated Box Set launched with an eye-watering $325 price, but Amazon is currently selling it for $146–a savings of 55% ($179).

The Deluxe Illustrated Box Set wasn’t the only collectible LOTR set released last year. William Morrow also published budget-friendly Collector’s Editions of The Fellowship of the Ring, The Two Towers, The Return of the King, The Hobbit, and The Silmarillion. The three parts of LOTR were later collected in one handsome Collector’s Edition Box Set. Each book in the hardcover Collector’s Edition series has stained edges, foil-stamped cover art, a ribbon bookmark, and maps as endpapers. All five Collector’s Editions are available individually for around $20 or less.

Tolkien Illustrated Editions.

Though not box sets, we’d be remiss to not mention the Tolkien Illustrated Editions when discussing collectible versions of Tolkien’s masterworks. Each of these beautiful hardcover books features drawings, sketches, and paintings composed by Tolkien himself while he built Middle-earth with words. The books have foil-stamped covers, sprayed page edges with elvish script, a ribbon bookmark, and a pair of removable maps.

Deluxe Special Editions of Tolkien Illustrated versions of The Silmarillion, The Hobbit, and The Lord of the Rings have cloth board bindings with quarterbound ribbed leather, clouthbound slipcases, an art card, and an illustrated booklet.

More Tolkien Book Deals

The list below includes deals on an assortment of editions of The Lord of the Rings, The Hobbit, The Silmarillion, and more. One standout here is The Silmarillion Special Edition, which was published in 2021 and feels like a natural pairing with The Lord of the Rings Deluxe Illustrated Box Set. This foil-stamped, clothbound edition has a slipcase with custom artwork and comes with a pair of full-color posters.



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May 24, 2025 0 comments
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GB200 Grace Blackwell Superchip
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DGX B200 Blackwell node sets world record, breaking over 1,000 TPS/user

by admin May 24, 2025



Nvidia has reportedly broken another AI world record, breaking the 1,000 tokens per second (TPS) barrier per user with Meta’s Llama 4 Maverick large language model, according to Artificial Analysis in a post on LinkedIn. This breakthrough was achieved with Nvidia’s latest DGX B200 node, which features eight Blackwell GPUs.

Nvidia outperformed the previous record holder, SambaNova, by 31%, achieving 1,038 TPS/user compared to AI chipmaker SambaNova’s prior record of 792 TPS/user. According to Artificial Analysis’s benchmark report, Nvidia and SambaNova are well ahead of everyone in this performance metric. Amazon and Groq achieved scores just shy of 300 TPS/user — the rest, Fireworks, Lambda Labs, Kluster.ai, CentML, Google Vertex, Together.ai, Deepinfra, Novita, and Azure, all achieved scores below 200 TPS/user.

Blackwell’s record-breaking result was achieved using a plethora of performance optimizations tailor-made to the Llama 4 Maverick architecture. Nvidia allegedly made extensive software optimizations using TensorRT and trained a speculative decoding draft model using Eagle-3 techniques, which are designed to accelerate inference in LLMs by predicting tokens ahead of time. These two optimizations alone achieved a 4x performance uplift compared to Blackwell’s best prior results.


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Accuracy was also improved using FP8 data types (rather than BF16), Attention operations, and the Mixture of Experts AI technique that took the world by storm when it was first introduced with the DeepSeek R1 model. Nvidia also shared a variety of other optimizations its software engineers made to the CUDA kernel to optimize performance further, including techniques such as spatial partitioning and GEMM weight shuffling.

TPS/user is an AI performance metric that stands for tokens per second per user. Tokens are the foundation of LLM-powered software such as Copilot and ChatGPT; when you type a question into ChatGPT or Copilot, your individual words and characters are tokens. The LLM takes these tokens and outputs an answer based on those tokens according to the LLM’s programming.

The user part (of TPS/user) is aimed at single-user-focused benchmarking, rather than batching. This method of benchmarking is important for AI chatbot developers to create a better experience for people. The faster a GPU cluster can process tokens per second per user, the faster an AI chatbot will respond to you.

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May 24, 2025 0 comments
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