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The creator who once posted a meme and won Elon Musk's $1 million prize
Original Title: "Creator Who Took Away $1 Million from X, Once Shilled a Memecoin"
Original Author: Eric, Foresight News
On February 4, 2025, Beijing Time, X announced the results of its $1 million creator prize competition launched two weeks ago. The event was only open to U.S. users, and participants were required to write an original article of at least 1000 words. The article with the highest "Home Timeline" reading by X's paid users would take home the million-dollar prize.
With the example of "How to Completely Change Your Life in One Day" which garnered 170 million views, many speculated that the winning article would likely be a similar self-help piece. However, the answer was both surprising and expected.
Writing Articles to Make Money Rather Than Trading Coins
Creator X, now a millionaire through a single article, under the account name Beaver, wrote the article "Deloitte, a $74 billion cancer metastasized across America," which received 45 million views.
The winning article was an in-depth investigative report exposing scandals within the U.S. government. Through analysis of public documents such as federal contracts, state contracts, documented default events, lawsuits, audits, and more, the author uncovered a history of "government-business collusion" involving hundreds of billions of dollars: Over the past 20 years, Deloitte has been awarded a total of $40 billion in federal and state government contracts. However, the various systems it developed, including the unemployment claims system, either ended up embezzled of billions due to system vulnerabilities or were abandoned after multiple budget increases.
In summary, $40 billion spent by the government on systems resulted in a total loss of $34 billion. More alarmingly, there has been extensive employee movement between Deloitte and the U.S. government, allowing Deloitte to infiltrate all aspects of the government, "like cancer cells spreading through the bloodstream," continuously siphoning taxpayers' money without traceable origins or eradication.
A look at Beaver's account reveals its main theme to be "concern for the country and the people," with topics almost entirely related to government, politics, and livelihood. In addition, Beaver launched a website called SomaliScan, which compiles public data on government budgets, expenditures, federal grants, workforce, and includes a range of politically related information such as political donations. The conclusion about the corrupt relationship between Deloitte and the government was derived from analyzing this data.
On February 3, just as Beaver had teased, the contents of the massive "Epstein Files" were curated into a complex relationship map on the website.
Interestingly, this political commentator had issued a meme token, SS (9NrkmoqwF1rBjsfKZvn7ngCy6zqvb8A6A5RfTvR2pump), for the website on January 2 this year. BlockBeats reminds users: Meme coin trading is highly volatile, heavily reliant on market sentiment and hype, with no actual value or use case. Investors should be mindful of the risks.
This token initially had a lackluster performance but saw a phase-high on January 28 after Beaver's article gained tens of millions of views. It surged again at the time of the award announcement today. Compared to SS's dismal performance and the $1 million prize, this may be a rare example where we can hardly find "writing articles is more profitable than trading coins."
Beaver had previously stated on January 25 that all the prize money from this competition would be used to buy SS. 10% of the total SS supply was reserved for the hackathon, 20% was locked up, and Beaver only kept 4.5%.
It is certain that Beaver is not a "crypto person," and the market value of less than $4 million also indicates that this meme coin is not very popular. Those willing to spend real money to buy SS are most likely supporters of Beaver and SomaliScan. It is worth mentioning that the SomaliScan website also has donation channels supporting Bitcoin, Ethereum, SOL, and XMR donations. If you enjoy watching excitement and don't mind getting involved, you can support this "democracy fighter" who dares to expose US government scandals.
Netizens' Common Topics: Politics, Money, and Emotions
There are three enduring topics on the Chinese internet: political trends, economic situations/how to make money, and personal emotions.
This X-launched event exclusively for US users, the top three happened to correspond to these three points:
· The champion article "Deloitte, a $740 Billion Value that has Spread to Cancer Across the United States" tells the story of US government corruption;
· The runner-up article "Detailed Explanation of President Trump's Tariff Strategy: Step-by-Step Guide on How to Operate" provides an investment plan for adapting to the changes in Trump's tariff policy through analysis.
· Third Place (Official Favorite) article "Complete Guide: How to Achieve Extreme Focus," another soulful self-improvement piece from Daniel Koe.
Even the highly viewed Chinese articles on X cannot escape these topics.
If you read these articles carefully, you will find that they are not particularly fancy in their wording, mostly stating facts and reasoning, meeting the emotional or practical needs of readers. For creators, the conclusion is also very simple: at least on the X platform, if you want to get more exposure, either tell an unknown new story, whether about yourself or societal issues; or provide a detailed "how-to guide," whether on making money, adjusting mindset, or even, as shown in the image above, how to find a specific video ID.
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Sun Valley Releases 2025 Financial Report: Bitcoin Mining Revenue Reaches $670 Million, Accelerating Transformation to AI Infrastructure Platform
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.
• 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."
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.
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
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.
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.
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
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.
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.
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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