為其比特幣購買Mara Holdings，並免費獲得採礦業務

最近，我對比特幣（BTC-USD）財政部公司非常感興趣，這既在這些公司如何獲得法定資本方面都非常感興趣

In a previous article, I discussed how executives at publicly-listed companies ultimately have a fiduciary duty to maximize shareholder value, and how this can intersect with the pursuit of Bitcoin (BTC-USD) on the part of company management. In the context of a public company, any activity should ideally generate a return for the company’s shareholders, and executives should pursue the avenues that can most rapidly grow capital.

在上一篇文章中，我討論了公開上市公司的高管最終如何承擔最大化股東價值的信託義務，以及這如何與公司管理公司的追求比特幣（BTC-USD）相交。在上市公司的背景下，任何活動都應理想地為公司的股東帶來回報，而高管應追求最迅速增長資本的途徑。

In the case of Bitcoin, it is an asset that can rapidly appreciate in U.S. dollar terms, and as such, it can be a valuable addition to a company’s treasury. If a company is able to generate fiat capital at low cost—for example, through a U.S. government loan program during a time of low interest rates—then it can use that capital to buy Bitcoin and realize outsized gains as the cryptocurrency appreciates.

就比特幣而言，這是一項可以以美元計算來迅速欣賞的資產，因此，這可能是公司財政部的寶貴補充。如果一家公司能夠以低成本（例如，通過在低利率的時候通過美國政府貸款計劃）產生法定資本，那麼隨著加密貨幣的欣賞，它可以利用該資本購買比特幣並實現巨大的收益。

Of course, a company should ideally be generating gains through its primary business operations, but in the case of a so-called “Zombie Stock” or a company that is struggling to maintain profitability, allocating a portion of a company’s capital to Bitcoin may be a good way to rapidly grow shareholder value.

當然，理想情況下，公司應該通過其主要業務運營產生收益，但是在所謂的“殭屍股票”或正在努力維持盈利能力的公司中，將公司資本的一部分分配給比特幣可能是快速增長股東價值的好方法。

One stock that comes to mind is Marathon Digital (NASDAQ:MARA). The company has been quite open about its belief that Bitcoin is the best performing asset of the past decade, and it is a coin that is sure to continue gaining in popularity throughout the world.

想到的一種股票是馬拉松數字（NASDAQ：MARA）。該公司對自己的信念非常開放，認為比特幣是過去十年中表現最好的資產，並且它肯定會在世界範圍內繼續受歡迎。

Earlier this year, Marathon Digital was able to obtain a U.S. government loan to help fund its Bitcoin mining operations. In total, the company was able to secure a 10-year loan for up to $700 million from the U.S. government at a fixed rate of 5%.

今年早些時候，Marathon Digital能夠獲得美國政府貸款，以幫助資助其比特幣採礦業務。總的來說，該公司能夠以5％的固定利率從美國政府那裡獲得10年的貸款，最高7億美元。

That compares to rates of around 4% on U.S. Treasury bonds. Of course, there is no guarantee that the government would provide such favorable terms on a loan today, but it highlights how executives at publicly-listed companies can obtain capital on favorable terms and use it to generate outsized returns for shareholders.

相比之下，美國國債的比率約為4％。當然，不能保證政府在今天的貸款上提供如此有利的條款，但它突出了公開上市公司的高管如何以有利的條件獲得資本並使用它來為股東帶來超大的回報。

In the case of Marathon Digital, it was able to use the government loan to buy Bitcoin at a time when the cryptocurrency was trading in the mid-$60,000 range. Since then, Bitcoin has risen to new highs above $73,000.

就馬拉松數字數字而言，它可以使用政府貸款在加密貨幣在60,000美元範圍內交易的時候購買比特幣。從那時起，比特幣已上升至73,000美元以上的新高點。

Even at these levels, executives at Marathon Digital believe that the cryptocurrency has plenty of room for appreciation. In the past, executives at the company have said that they see Bitcoin rising to six-figures, and they are not planning to sell any of their coins until Bitcoin reaches at least $500,000.

即使在這些水平上，馬拉松數字的高管也認為加密貨幣有足夠的欣賞空間。過去，該公司的高管們說，他們看到比特幣上升到六位數，並且他們不打算在比特幣至少達到500,000美元之前出售其任何硬幣。

At current rates, that would generate total gains of more than 400% from the average price at which Marathon Digital bought Bitcoin with the U.S. government loan.

以目前的速度，這將使馬拉松數字使用美國政府貸款購買比特幣的平均價格超過400％。

Of course, no one can predict how cryptocurrencies will perform in the future. But given the rapid pace at which Bitcoin has appreciated in recent years, I think there is potential for more gains from here.

當然，沒有人可以預測將來的加密貨幣的性能。但是，鑑於比特幣在近年來對比特幣欣賞的速度很快，我認為從這裡有更多收益。

And with executives at Marathon Digital focused on maximizing shareholder value, I think this is a stock that investors may want to consider for their portfolio.

隨著馬拉松數字的高管著重於最大化股東價值，我認為這是投資者可能想考慮其投資組合的股票。

Post Merger Integration Is Key For Sono Group (OTCMKYS:MSNXF)

後合併集成是Sono組的關鍵（OTCMKYS：MSNXF）

Sono Group (OTCMKYS:MSNXF) is a German startup that is developing a modular electric vehicle platform. The company plans to launch its first model, the Sono Sion, in 2024. The Sion is a five-seater hatchback that will be powered by a 350 km (217 miles) range battery and will have a starting price of €34,900.

Sono Group（OTCMKYS：MSNXF）是一家正在開發模塊化電動汽車平台的德國初創公司。該公司計劃於2024年推出其第一款車型Sono Sion。 Sion是五座掀背車，將由350公里（217英里）範圍的電池供電，起價為34,900歐元。

Sono Group is also developing a solar technology that can be integrated into the vehicle’s bodywork. The company claims that its solar panels can generate up to 80 km (50 miles) of extra range per day from sunlight.

Sono Group還正在開發一種可以集成到車輛車身的太陽能技術。該公司聲稱，其太陽能電池板可以每天與Sunlight的額外範圍高達80公里（50英里）。

Sono Group says it has secured all the necessary permits and is now focused on completing the development of the Sion and preparing for mass production. The company plans to start delivering the first vehicles to customers in Europe in the second half of 2024.

Sono Group表示，它已獲得所有必要的許可，現在專注於完成Sion的發展並準備大規模生產。該公司計劃在2024年下半年開始向歐洲的客戶運送第一輛車。

Sono Group is a promising startup that is working on innovative electric vehicle technology. The company has a strong management team with experience in the automotive industry. Sono Group is also well-funded and has a clear vision for the future.

Sono Group是一家有前途的初創公司，正在從事創新電動汽車技術。該公司擁有一支強大的管理團隊，在汽車行業擁有經驗。 Sono Group也獲得了充分的資金，對未來有清晰的願景。

However, Sono Group faces several challenges. The company will need to overcome technical hurdles in developing its solar technology and integrating it into the vehicle platform without compromising on aesthetics or functionality. Sono Group will also need to navigate the complexities of launching a new vehicle model in multiple markets.

但是，Sono Group面臨著幾個挑戰。該公司將需要克服技術障礙，以開發其太陽能技術並將其集成到車輛平台中，而不會損害美學或功能。 Sono Group還需要瀏覽在多個市場上推出新車輛模型的複雜性。

Despite these challenges, I believe that Sono Group has the potential to succeed. The company is developing a unique and compelling electric vehicle offering that could appeal to a broad audience. Sono Group is also well-positioned to benefit from the growing demand for sustainable transportation solutions.

儘管面臨這些挑戰，但我相信Sono Group具有成功的潛力。該公司正在開發一種獨特而引人注目的電動汽車產品，可以吸引廣泛的受眾。 Sono Group也有充分的位置，可以從對可持續運輸解決方案不斷增長的需求中受益。

Overall, I believe that Sono Group is a

總的來說，我相信Sono Group是一個