I graduated from Yale School of Management and have held positions such as Chief Investment Officer and International Strategic Advisor at Citibank, JPMorgan, and Goldman Sachs. I returned to my country and began to explore the field of Bitcoin.

Let me introduce myself. I am based in Shanghai, born in 1993, graduated with a master's degree in the UK, and currently work at a company listed on the A-share market. To be honest, I don't have much of a connection to Bitcoin; I just heard during the big boom in 2017 that it was particularly profitable, so I started researching the mechanisms and principles of Bitcoin. Additionally, I have a strong interest in exploring side hustles for income, which led to my first foray into cryptocurrency.
It was in May 2018, during the peak hype around EOS, when I thought the price was still low, so I bought EOS and HT for a total of 22,500 RMB on the Huobi exchange. As a result, the market began to plummet, and to this day, I am still stuck in it, with my assets now down to 14,000 (as shown in the picture below). Because I met some big shots in the crypto space while studying in the UK, I later communicated with them. From their veiled comments, I figured out how they were making money. It’s actually quite similar to Sun Yuchen's approach... they first raise a sum through private placement for an ICO, then hold a large number of nodes, open a few accounts themselves, and when Bitcoin is in the spotlight, they aggressively pump the price and then cut the retail investors' profits... If you look at various air coins on exchanges, you will find that after the third month, they start to plummet continuously because they’ve raised money and run away. Only world-class cryptocurrencies like Bitcoin and ETH are not easy to hype because it’s hard for a few big players to manipulate such a large market.
Later, I began to study Bitcoin's primary market, commonly known as mining. However, the traditional mining model made me feel that the investment was too high. The upfront capital investment, mainly the cost of purchasing mining machines, was significant, and the subsequent cash flow from the output of Bitcoin equivalent to RMB was not stable enough. So, I gave up that idea. For a long time, my side income was zero, haha...
Just then, a turning point appeared. A childhood friend told me he was working on a project that rented out mining machines to mine Bitcoin, and I became interested in learning about their project. Their profit model can be summarized in three points:
1. Self-operated mining farms with large-scale procurement of mining machines, creating marginal benefits from purchasing. Centralized management can better leverage the residual value of computing power in the mining farm.
2. They have their own token, BHP, which tokenizes this intangible asset of computing power.