Daily Observation of Cryptocurrency Concept Stocks: Dell Tests $500 Million BTC Treasury, Sony's Soneium Ecosystem Launches a New Era of "Using Currency to Sustain the Network"

1. The Defense of the King of AI Hardware: Dell's $500 Million "Digital Treasury" Pilot

Dell Technologies (NYSE: $DELL) officially confirmed the launch of a $500 million Bitcoin treasury pilot program at its annual financial analysis meeting yesterday.

Michael Dell's statement at the meeting, "Scarcity is the hard currency of the digital age," quickly ignited Wall Street. Dell's logic is not speculative: with the explosion in demand for AI servers, Dell needs an asset that can flow seamlessly across borders and has strong purchasing power to smooth its massive supply chain costs. Converting $500 million (about 5% of its cash reserves) into BTC is seen as a key step for Dell in transforming from a "traditional hardware vendor" to an "AI financial architect."

2. "Using Currency to Support the Network": The Balance Sheet Logic of Sony's Soneium Ecosystem

Japanese giant Sony (TSE: 6758) disclosed the latest treasury data for its Layer 2 network Soneium last night. Uniquely, Sony is not only operating the network but also using its massive consumer electronics cash flow to purchase BTC and ETH as "settlement collateral" for the network.

This model is referred to as "using currency to support the network": Sony utilizes its held crypto assets as settlement backing among its hundreds of millions of PlayStation and electronic devices worldwide. This deep binding of "treasury reserves" with "business scenarios" has given Sony's stock price a "Web3 premium" that surpasses the traditional consumer electronics industry.

3. From "Selling Shovels" to "Keeping Gold": Canaan's $200 Million Strategic Turnaround

As a leading mining machine manufacturer, Canaan (NASDAQ: $CAN) announced its "Inventory-First" strategy in a strategic white paper released yesterday. The company plans to raise $200 million through financing tools and combine it with a portion of profits from mining machine sales, aiming to establish a long-term held BTC treasury.

This shift means Canaan is no longer satisfied with being the "contractor" of the crypto world but aims to leverage its precise grasp of computing power cycles to achieve secondary leverage of assets. The market believes this marks the full entry of the mining machine manufacturing industry into an era of "self-production, self-sales, and self-retention" of assets.

"Collaborative Entry" of Cross-Industry Giants

From the signals on March 18, we can see that participants in crypto treasuries have spread from the "radicals (MSTR/mining companies)" to "pragmatic giants (Dell/Sony)." These giants are not pursuing short-term price fluctuation profits but are committed to using crypto assets as the "underlying operating system" for their global business operations. This proliferation of "functional holding of currency" is providing unprecedented long-term value support for the coin-stock market.

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Data source: https://bbx.com/ Crypto concept stock information database, compiled based on announcements from global listed companies and SEC/TSE disclosure documents from yesterday.