Huma Finance 2.0 Officially Launches on Solana, Bringing Composable Yield to DeFi Users

By: blockbeats|2025/04/10 21:30:03

Source: Huma Finance

Huma Finance 2.0 Officially Launches on Solana, Bringing Composable Yield to DeFi Users

The first Payment Financial Network, Huma Finance, today announced the launch of Huma 2.0, a permissionless, compliant, and composable yield platform built on Solana. This platform opens up stable real yield generated from global payment financing derived from everyday commercial trading activities to users worldwide, marking a significant advancement where the previously elusive double-digit stable yield category, outside the realm of institutional finance, is now widely accessible to individual users. The existing permissioned service has been concurrently rebranded as Huma Institutional, continuing to serve institutions and accredited investors. Users can immediately start depositing on the brand-new Huma 2.0 platform.

Huma 2.0 provides users with diversified liquidity provision participation modes, launching two primary modes to cater to different needs: Classic Mode is designed for users seeking a stable double-digit USDC yield (currently at 10.5% APY, updated monthly) while offering a base reward called Huma Feathers; Maxi Mode is suited for users looking to maximize their accumulation of Huma Feathers, offering a 5x baseline reward rate (but without receiving USDC yield). Users can switch the mode of their existing positions at any time.

DeFi composability is a core feature of Huma 2.0 achieved through the PayFi Strategy Token (PST). This liquid interest LP token enables holders to integrate their Huma positions with leading Solana ecosystem protocols. At launch, users can swap PST for USDC through the aggregator Jupiter, marking the initial step of the integration plan with top Solana DeFi platforms. Subsequently, support will quickly follow on Kamino to use $PST as collateral and to trade future yields via RateX. Participation does not require locking, but users can opt for a 3-month or 6-month term that significantly boosts Huma Feather rewards through a multiplier. It is noteworthy that in the early stages of launch, these reward multipliers will see a substantial increase as part of a limited-time promotion, with particularly attractive bonuses in the Maxi Mode. These features provide users with enhanced flexibility and choice in managing their positions.

In just two years, Huma Finance's Payment Financial Network has rapidly scaled, processing over $3.8 billion in transactions, generating $8 million in annualized revenue. Huma assists partners in earning revenue from its payment finance business. Unlike DeFi yields relying on token incentives, market speculation, or traditional finance's low rates, payment finance yield directly stems from the fees paid by enterprise usage of the network for payment financing and settlement liquidity. Funds typically circulate rapidly within a few days, compounding continuously from fees generated by real-world economic activities. This mechanism enables Huma to consistently offer a stable double-digit USDC yield. Its sustainable model has garnered endorsements from top investors and been recognized by industry analysts such as Messari—payment finance is poised to leverage a $30 trillion market scale.

"Huma 2.0 is not just another yield product—it represents a structural shift." Huma Finance Co-Founder Erbil Karaman stated, "By providing payment institutions with a 24/7 operational and remarkably capital-efficient novel liquidity source, we are creating a new form of yield rooted in real economic activity, with composability and transparency. It finally allows DeFi to tap into a long-standing institutional-exclusive yield source without compromising DeFi's core strengths."

The launch of Huma 2.0 comes at a significant transformation period for the global financial and DeFi ecosystem. As traditional payment infrastructures like SWIFT face challenges in speed and transparency, with trillions of dollars still inefficiently deployed, the demand for blockchain-based modern solutions is increasingly evident—reportedly, stablecoin annual transaction volumes have surpassed $35 trillion. Seizing the opportunity, Huma 2.0 provides efficient settlement liquidity, enabling individuals worldwide to benefit from foundational financial activities—a realm previously dominated by institutions.

Crucially, the revenue generated by payment finance does not fluctuate with the crypto market cycle. Regardless of market boom or slump, underlying economic activities like payment and trade continue to operate, providing a stable source of revenue for Huma. This stability makes double-digit fixed income particularly valuable in bear markets, shining even brighter when speculative gains fade. As DeFi matures, the market is now prepared for such revenue rooted in real-world business (rather than token speculation). Payment finance as the foundational layer is fostering new DeFi strategies, such as Solmate, recently launched by Splyce—combining Huma's $PST yield with SOL liquidity staking, bridging DeFi and productive economic purposes.

Huma 2.0 marks a crucial step in building the new financial future, fundamentally expanding the scope of the financial revolution through an open and inclusive participation model. Early participants can enjoy various reward multipliers, including historical deposit user bonuses and promotion bonuses. As the platform expands more DeFi integrations and plans to become the launch platform's first major project for Jupiter's LFG 2.0—Huma continues to build a truly inclusive financial system.

To learn more about Huma 2.0 or get involved, please visit this link or follow @humafinance on X platform.

About Huma Finance

Huma is the first Payment Finance (PayFi) network, utilizing an open liquidity protocol stack, covering key areas such as cross-border payments, stablecoin debit cards, and trade financing applications. The network targets a market exceeding $30 trillion in total size, aiming to accelerate fund movement in an ever-active world.

This article is a contribution and does not represent the views of BlockBeats.

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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