Recently, it has been said that issuing coins is better than issuing stocks, but I am genuinely curious about the relationship between going to the US stock market to issue stocks and our yellow skin? Except for the Japanese stock Metaplanet, there are almost only three US mining stocks with liquidity, MSTR, CRCL, COIN, and MARA, RIOT, CLSK, which have a total of around 5 billion yuan, all of which are white and cannot be whiter. The shareholders are all blue blood companies from American institutions. Why is this pile of yellow coin stocks that Canaan started not working and not receiving a premium? The first long-term inclusion in the category of Chinese concept stocks, as is well known, has been a significant reduction in the past few years. The operation of second capital is not about doing business, but about building relationships. The company has already been sold to institutions by Mahler Gobi, all of whom are professional managers with Wall Street backgrounds. Who will honestly do Nima's business with you. You see, MARA's animal is very typical. For several years, it has been continuously acquiring and maintaining the market premium of leading companies at no cost, while issuing ATM shares and selling them to machine (leek) structures (vegetables). Huangpi is suitable for conducting business and establishing relationships in places that are restricted by compliance regulations and away from home. It's better to just issue a coin instead of Hong Kong. Under the premise that the maintenance cost of the US and Hong Kong stock markets is not low (several million US dollars per year) and the market value limit is not exceeded, I cannot see the significance of issuing stocks in the market with trading volume lower than that of Matcha and Gate.