QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: The following discu ssion about our mar ket risk exposures involves forward-looking statements.
+Added: The following discussion about our market risk exposures involves forward-looking statements.
Actual results could differ materially from those projected in the forward-looking statements.
Market Price Risk of Bitcoin.
−Removed: We hold a significant amount of bitcoin, as such, we are exposed to the impact of market price changes in bitcoin on its bitcoin holdings.
+Added: We hold a significant amount of bitcoin, and as such, we are exposed to the impact of market price changes in bitcoin on our bitcoin holdings.
This exposure would generally manifest itself in the following areas:
1 unchanged sentence
• We occasionally enter into derivative financial instruments to manage our exposure resulting from fluctuations in the price of bitcoin.
−Removed: At December 31, 2023, we held approximately 15,126 bitcoin and the fair value of a single bitcoin was approximately $42,288, meaning that the fair value of our bitcoin holdings on that date was approximately $639.7 million.
+Added: As of December 31, 2024, we held approximately 44,893 bitcoin, of which, 10,374 were loaned or collateralized, for a total fair value of approximately $4.2 billion.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.