NewzIntel.com

Category: Finance

  • MIL-OSI Asia-Pac: WFSFAA reminds student loan repayers to resume loan repayments from April 2025

    Source: Hong Kong Government special administrative region

    The following is issued on behalf of the Working Family and Student Financial Assistance Agency:
     
         The Working Family and Student Financial Assistance Agency (WFSFAA) today (December 23) reminded student loan repayers that the five-year interest-free deferral of loan repayments will end on March 31, 2025, and interest accrual will resume from April 1. The first repayment due date falls on May 1 (for repayment by monthly instalments) or July 1, 2025 (for repayment by quarterly instalments). 
     
         The Student Finance Office (SFO) of the WFSFAA will issue notifications for resumption of loan repayments and the repayment schedules to student loan repayers in January 2025, followed by demand notes in mid-April and early June 2025 to repayers who repay by monthly and quarterly instalments respectively. Charging of the annual administrative fee will also resume for all loan repayment accounts under non-means-tested loan schemes. For details about the resumption of student loan repayments, please visit the WFSFAA website (www.wfsfaa.gov.hk/resumption_e.htm).
     
         For the convenience of repayers, the SFO provides a variety of electronic repayment methods, including the Payment by Phone Service or Faster Payment System accessible from the “SFO E-link – My Bills” online platform, autopay service and internet banking payment services.
     
         A spokesman for the WFSFAA reminded student loan repayers that interest expenses can be reduced if they apply for early lump sum or partial repayment in respect of any individual or all loan account(s). Such applications can be submitted via the “SFO E-link” online platform (www.wfsfaa.gov.hk/lspartial_e.htm).

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: OSCE Enhances Capacities to Detect Terrorism Financing during the Fundraising Phase

    Source: Organization for Security and Co-operation in Europe – OSCE

    Headline: OSCE Enhances Capacities to Detect Terrorism Financing during the Fundraising Phase

    Participants in the seminar work on practical cases under the guidance of the expert, Astana, 17-18 December 2024. (OSCE/Yerlen Badykhan) Photo details

    On 17-18 December 2024, the OSCE Programme Office in Astana, in collaboration with key national agencies, held a training workshop focused on detecting the financing of terrorism during the fundraising phase. The workshop aimed to strengthen Kazakhstan’s capacity to counter the complex challenges posed by financial crimes linked to terrorism.
    The event brought together 22 participants representing the Financial Monitoring Agency, the Ministry of Interior, the National Security Committee, and the Prosecutor General’s Office of Kazakhstan. They engaged in expert-led sessions designed to enhance their understanding of identifying suspicious financial activities and disrupting terrorist fundraising efforts at an early stage, namely during fundraising activities.
    The expert provided in-depth insights into the mechanisms used for fundraising, including the misuse of non-profit organizations, crowdfunding platforms, and informal money transfer systems. Participants gained hands-on experience in organizing the collection and analysis of operational information related to countering the financing of terrorism, as well as methods for obtaining data on available financial assets and cash flows of individuals under audit. The sessions also covered advanced approaches for identifying relevant information on individuals involved in investigations, analyzing channels used for collecting funds to finance terrorism, and detecting suspicious transaction patterns. Apart from that, participants learned to identify vulnerabilities in financial reporting systems and apply international good practices to trace and prevent illicit funds from reaching terrorist networks.
    Case studies and practical exercises emphasized the importance of early detection tools and inter-agency co-operation. The workshop highlighted the role of financial intelligence and proactive investigation methods in addressing evolving threats in the financing landscape.
    Head of the Division for Countering Financing of Terrorism at the Financial Monitoring Agency, Sayat Maltayev, shared his feedback: “The training sessions were highly practical and directly applicable to our daily work. The skills and tools shared during this workshop will undoubtedly strengthen our ability to detect and prevent the financing of terrorism at its sources”.
    This workshop underscores the continued commitment of the OSCE Programme Office in Astana to support Kazakhstan’s efforts in combating financial crimes and fostering a more secure and transparent financial system. By equipping professionals with critical knowledge and tools, Kazakhstan is enhancing its capacities to address emerging threats posed by the financing of terrorism.

    MIL OSI Europe News –

  • MIL-OSI: Financing facility update

    Source: GlobeNewswire (MIL-OSI)

    23 December 2024

    ICG Enterprise Trust announces increased credit facility

    ICG Enterprise Trust plc (‘ICGT’) has increased the size of its revolving credit facility (‘RCF’) from €240m to €300m to accommodate portfolio growth. This change was effective from 20 December 2024.

    There are no other changes to the terms previously disclosed on 1 June 2023 and 5 June 2024.

    At 13 December 2024, ICGT had total available liquidity of £84m (31 July 2024: £126m). This comprised £8m cash and £76m (€92m) undrawn RCF. Pro forma for the increase announced today, ICGT would have had total available liquidity of £134m.

    Enquiries

    Analyst / Investor enquiries                                                                                                
    Chris Hunt, Head of Corporate Development and Shareholder Relations
    +44 (0) 20 3545 2000

    Media                                                                                                                    
    Clare Glynn, Corporate Communications, ICG                                                    
    +44 (0) 20 3545 1395

    Website                                                                                 
    www.icg-enterprise.co.uk

    About ICG Enterprise Trust

    ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US, while offering the added benefit to shareholders of daily liquidity.

    We invest in companies directly as well as through funds managed by Intermediate Capital Group plc (‘ICG’) and other leading private equity managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

    Disclaimer

    The information contained herein does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, any securities in any jurisdiction where such an offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on ICG Enterprise Trust PLC (the “Company”) or its affiliates or agents. Equity securities in the Company have not been and will not be registered under the applicable securities laws of the United States, Australia, Canada, Japan or South Africa (each an “Excluded Jurisdiction”). The equity securities in the Company referred to herein and on the pages that follow may not be offered or sold within an Excluded Jurisdiction, or to any U.S. person (“U.S. Person”) as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or to any national, resident or citizen of an Excluded Jurisdiction.

    The information on the pages herein may contain forward looking statements. Any statement other than a statement of historical fact is a forward looking statement. Actual results may differ materially from those expressed or implied by any forward looking statement. The Company does not undertake any obligation to update or revise any forward looking statements. You should not place undue reliance on any forward looking statement, which speaks only as of the date of its issuance.

    The MIL Network –

  • MIL-OSI: Periodic announcement on the acquisition of the Bank‘s own shares and its results (week 7)

    Source: GlobeNewswire (MIL-OSI)

    This announcement contains information on transactions of the acquisition of own shares of AB Šiaulių bankas (the Bank) carried during the period specified below under the Bank’s own share buy-back programme announced on 31 October 2024. 

    The period during which the acquisition of the Bank’s own shares under the programme was carried out – 04.11.2024 – 20.12.2024. 

    Period covered by this periodic report – 16.12.2024 – 20.12.2024. 

    Other information: 

    Transaction overview 
    Date  Total number of shares purchased on the day ( units)  Weighted average price (EUR)  Total value of transactions (EUR) 
    2024.12.16 90,000 0.829 74,580.03
    2024.12.17 75,000 0.828 62,115.00
    2024.12.18 80,000 0.828 66,240.00
    2024.12.19 75,000 0.826 61,950.03
    2024.12.20 50,000 0.825 41,250.01
    Total acquired during the current week  370,000 0.827 306,135.07
    Total acquired during the programme period  3,010,461 0.826 2,486,973.54
           
     

    The Bank’s own bought-back shares: 9,890,461 units.  

    Following the above transactions, the Bank will own a total of 10,260,461 units of own shares representing 1.55 % of the Bank’s issued shares. 

    Further detailed information on the transactions is attached. 

    This information is also available at: www.sb.lt   

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    Attachment

    The MIL Network –

  • MIL-OSI: Šiaulių bankas to invest additional €60 million to finance the renovation of multi-apartment buildings in Lithuania

    Source: GlobeNewswire (MIL-OSI)

    On 20 December, 2024, Šiaulių bankas AB and the European Investment Bank (EIB) signed amendments to the Pre-financing and Contingent loan agreements concluded in 2016 to increase the Bank’s investment by €60 million – up to €255 million from €195 million – to finance the modernization programme of multi-apartment buildings in Lithuania.

    “The multi-apartment building modernisation fund under Bank’s administration has signed financing contracts for almost €200 million this year alone. The demand for renovation projects is gaining pace and we have committed to increase Šiaulių Bankas’ investments in renovation financing by €60 million after discussions with the Ministry of Environment of Lithuania and the EIB. This way we continue to contribute to a more sustainable and country and wellbeing,” says Vytautas Sinius, CEO of Šiaulių Bankas.

    Šiaulių Bankas has been involved in the financing market for the modernization of multi-apartment buildings in Lithuania for more than 12 years. During this period, the Bank and its partners have financed the renovation of more than 3,000 projects total loan worth exceeding €1.2 billion.

    “The Ministry of the Environment appreciates the cooperation with Šiaulių bankas, the financial intermediary chosen by the EIB, which, recognising the importance of renovation, has made it possible to finance the long-standing modernisation of multi-apartment buildings. The additional funding will ensure the continuity of the loan funds created with EU funds and a smooth transition to new financial instruments. I hope that these additional funds will accelerate the implementation of renovation projects,” said Povilas Poderskis, Minister of the Environment.

    “This collaboration between Šiaulių bankas and EIB represents another significant step in strengthening our long-term partnership in the housing sector. We are pleased to support this initiative at a time when financing for renovation and energy efficiency is most needed. By contributing to the Government’s goals in this critical sector, we are helping to drive sustainable development and support the creation of greener, more resilient homes, while advancing broader climate objectives,” said Junona Bumelytė, EIB Fund and Structuring Officer.

    Šiaulių Bankas launched the €200 million SB Modernisation Fund 2, financed by Šiaulių bankas itself, the Government, with the EIB as fund manager, as well as Swedbank, the European Bank for Reconstruction and Development (EBRD), and pension funds managed by the Šiaulių bankas Group this year. This fund has already signed financing agreements for almost all allocated amount to renovate up to 300 multi-apartment buildings across Lithuania.

    The aim is to renovate most of the multi-apartment buildings in Lithuania by 2050. Two thirds of these buildings are currently energy class D and below. Modernized buildings save energy while improving living conditions and increasing value.

    Additional information:

    Tomas Varenbergas

    Head of Investment Management Division

    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI Economics: ADB, Vastu Housing Finance to Enhance Access to Affordable and Sustainable Housing in India

    Source: Asia Development Bank

    NEW DELHI, INDIA (23 December 2024) – The Asian Development Bank (ADB) and Vastu Housing Finance Corporation Limited (Vastu) have entered into a senior secured loan agreement of up to $70 million to enhance access to affordable and sustainable housing loans in India’s underserved states. This financing will be utilized to provide loans to economically weaker sections and low-income groups, with an emphasis on female borrowers. At least 15% of the funds will be allocated to first-time borrowers.

    “ADB aims to address the critical housing shortage in India while promoting environmentally friendly housing that enhances climate resilience for homeowners by focusing on lower-income households and sustainable housing,” said PSOD Director General Suzanne Gaboury. “This partnership with Vastu illustrates ADB’s commitment to supporting financial inclusion and sustainable development in India, in alignment with the country’s national financial inclusion strategy.”

    According to the Reserve Bank of India, shortfalls of 45 million houses for economically weaker communities and 50 million for low-income groups account for 95% of India’s overall housing deficit. These groups often struggle to access credit due to high mortgage costs and limited credit history. This highlights the necessity for affordable housing finance companies that provide loans to new borrowers and self-employed individuals in rural and semi-urban areas.

    Sandeep Menon, Founder, MD & CEO, Vastu, said, “Vastu is poised to expand our reach and deepen our impact in extending affordable housing finance to the credit-underserved segments, with a focus on women borrowers. We are glad to partner with ADB to further this vision. Together, we aim to bridge the credit gap for India’s emerging middle-class and lower-income households.”

    Vastu is a technology-driven affordable housing finance company that focuses on self-employed customers in growing peri-urban and rural cities and towns. With a strong presence in semi-urban and rural areas, Vastu offers affordable housing loans and loans against property, emphasizing sustainability and financial inclusion.

    ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members—49 from the region. 

    MIL OSI Economics –

  • MIL-OSI United Kingdom: Serious Fraud Office launches 2025 Trainee Investigator Programme

    Source: United Kingdom – Executive Government & Departments

    The Serious Fraud Office (SFO) has opened applications for its 2025 Trainee Investigators Programme.

    Launched in 2018, the programme has run successfully for over six years, equipping trainees with the core skills necessary for a career investigating major crime.

    Trainees receive hands-on investigation training and gain valuable, first-hand experience working alongside the SFO’s operational teams to tackle the largest and most complex economic crime cases in the UK. Successful applicants will work with and be offered guidance from some of the country’s most experienced investigators and lawyers.

    The programme is open to anyone with an interest in the law, with applications accepted from 20 December 2024 to 12 January 2025. Since its creation, the scheme has welcomed over 100 trainees from all walks of life, including university graduates, career changers and individuals with a long-held interest in the law and criminal justice.

    Serious Fraud Office Chief Investigator Mick Gallagher said: “Our Trainee Investigator Programme offers applicants the chance to work on the largest and most high-profile economic crime cases here in the UK.

    “It allows people from all walks of life the opportunity to immerse themselves in fraud investigation training, equipping them with the core operational skills needed as they’re guided through the stages of an investigation.

    “The feedback we receive from those who have completed the Programme in previous years has been overwhelmingly positive and we’re very proud of our training investigators.”

    Applicants will be notified this Spring if they have been successful applying to the Programme. Graduates who successfully complete the 15-month Programme will be promoted to the role of Investigator.

    Updates to this page

    Published 23 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Eight-year ban for former footballer who ran London sports academy

    Source: United Kingdom – Executive Government & Departments

    Kieron Minto-St.Aimie received a director’s disqualification for claiming a £25,000 Covid loan his company was not entitled to.

    • Kieron Minto-St.Aimie is a former professional footballer who went on to run a sports academy in Brent. 
    • His company received the £25,000 Covid Bounce Back Loan after he overstated its turnover. 
    • He was disqualified as a company director for eight years at London’s Royal Courts of Justice.  

    A former professional footballer has been banned from being a company director for eight years.  

    Kieron Minto-St.Aimie claimed a £25,000 Covid Bounce Back Loan for the St Aimie’s Sports Academy Community Interest Company in Brent, when it was entitled to much less. 

    Elizabeth Pigney, Chief Investigator at the Insolvency Service, said: “Kieron Minto-St.Aimie successfully applied for a Covid Bounce Back loan by overstating his company’s turnover. 

    His eight-year disqualification should serve as a warning to others that the justice system will not allow business owners to make false declarations to obtain funds that were so crucially needed by other small and medium-sized businesses during the pandemic.

    The former footballer, aged 35, of Pound Lane in London, began his career at Queens Park Rangers before spells at clubs including Oxford United and Barnet. 

    He opened St.Aimie’s Sports Academy, on Harlesden Road in Brent, as its sole director in 2016.  

    Before its closure in January 2023, the academy was known in the local community for providing football coaching and mentoring to children and young people.  

    In May 2020, Minto-St.Aimie applied for a Covid Bounce Back loan of £25,000.  

    However, in order to obtain the £25,000 he overstated the company’s turnover by £60,000 as it should have only been entitled to around £10,000 under the scheme based on its actual turnover.  

    On 6 December 2024, the judge at London’s Royal Courts of Justice disqualified Minto-St.Aimie as a company director for eight years.

    Further information 

    Updates to this page

    Published 23 December 2024

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: BLOG: How we’re tackling rogue landlords

    Source: City of Liverpool

    One year ago, Liverpool City Council launched a Private Sector Housing Intelligence and Enforcement Task Force, and the results have made a real difference in our city. Tom Mullan from the team reflects on the last year...

    This anniversary gives us a chance to celebrate the team’s achievements in disrupting rogue landlords, improving housing conditions and creating safer communities. Through multi-agency collaboration, intelligence sharing and enforcement, the Task Force has delivered significant outcomes that benefit our city and its residents.

    The Task Force, established with funding from the Ministry of Housing, Communities and Local Government’s (MHCLG) Pathfinders Programme, was tasked with establishing new and innovative ways to combat landlords who:

    • Ignore their legal obligation to license properties
    • Fail to meet safety standards for tenants
    • Use properties for illegal activities, like drug-related crime or human trafficking

    Cllr Sam East, Cabinet Member for Housing, emphasised the importance of the initiative: “This Task Force was established to proactively target and disrupt rogue and criminal landlords and managing agents operating in the private sector in Liverpool and the threats they pose to our city’s vulnerable residents, safe neighbourhoods and community cohesion. The team’s collaborative, intelligence-led, multi-agency approach is a real success.”

    Some of our achievements so far…

    Improved housing safety
    Over 129 serious hazards were identified in private rental properties, with 139 enforcement notices issued, including 21 Housing Act Improvement Notices and a further 8 Emergency Prohibition Orders.

    Disrupting criminal activity
    Joint operations with Merseyside Police and the Home Office resulting in the seizure of £13 million (street value) of cannabis and the emergency closure of eight properties.

    Creating trusting relationships
    Established service level data sharing agreements with the other local authorities in the Liverpool City Region and our external partners to foster joint working in tackling rogue and criminal landlords.

    Safeguarding vulnerable residents
    Investigated over 20 properties linked to human trafficking and sexual exploitation, working with our third sector partner, Changing Lives, to provide support for victims.

    Investigating Trading Standards
    Proactively investigated and enforced trading standards compliance on over 40 managing and letting agents operating in Liverpool.

    Making an impact across the country
    Submitted 586 intelligence reports to a national database, helping disrupt criminal operations locally and nationwide, and partnered with Shelter to develop e-learning modules for agents on tenant rights, deposit security and consumer protections.

    Cllr Laura Robertson-Collins, Cabinet Member for Neighbourhoods, Communities & Streetscene, said: “The targeted work across the city has had a real impact, improving housing conditions and creating safer neighbourhoods for our residents. Their proactive partnership working with Merseyside Police, housing providers and local voluntary organisations is helping to restore pride in our communities and make a real difference in people’s lives.”

    Making a difference in our communities

    Beyond the numbers, the Task Force’s work is creating safer, more stable communities:

    In Norris Green, operations reduced drug-related crime and anti-social behaviour by targeting rogue landlords and unsafe properties.

    Cllr Kevin Pilnick reflects on the work in his ward: “The team’s targeted operations in the Norris Green area have made a real difference.  Their work with the Council’s community co-ordinators and neighbourhood managers, alongside other stakeholder agencies, is helping to reduce anti-social behaviour and drug-related crime.”

    Working together to make an impact

    This progress is the result of teamwork across the council and partnerships with external agencies. Here’s what some of our partners had to say:

    Sarah Clarke, from Changing Lives, said: “The collaborative working that we undertake with the Task Force in Liverpool provides us with critical opportunities to offer safeguarding to victims of adult sexual exploitation and human trafficking who face significant harm from organised crime groups.  We cannot safeguard in silo and the joint working has evidenced this.”

    Peter Yoh, Head of Liverpool City Region Housing at Riverside: “The partnership working and intelligence sharing is proving vital to the success in making a real difference to customers of the private rented sector living within our communities.  Our collaborative approach with the Council’s Task Force is resulting in enforcement action being taken against irresponsible landlords, which is stabilising communities and sustaining tenancies.”

    Merseyside Police said: “Merseyside Police works in close partnership with the Task Force and other partner agencies from the voluntary and community sector, establishing a multi-agency approach to engaging the local community and gathering intelligence for detecting and disrupting sexual exploitation and supporting victims.”

    Looking Ahead

    With three months left in its current phase, the Task Force is already embedding its strategies into Liverpool City Council’s long-term private sector housing operations. The aim is to make our proactive, intelligence-led approach a standard for how we handle housing enforcement.

    If you have any concerns about rogue and criminal landlords, please contact privatesectorhousing.intel@liverpool.gov.uk or use our freephone number 0800 707 6245.

    MIL OSI United Kingdom –

  • MIL-OSI: Himax to Unveil State-of-the-Art WiseEye Module Solutions at CES 2025 Empowering Seamless AIoT Integration

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, Dec. 23, 2024 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (“Himax” or “Company”) (Nasdaq: HIMX), an industry leader in fabless display driver ICs and other semiconductors, today announced that the Company and its AI ecosystem partners will unveil a suite of innovative, production-ready AIoT applications at CES 2025, powered by Himax’s groundbreaking ultralow power WiseEye Module solutions. These designs will showcase intuitive, user-friendly AI capabilities set to transform multiple industries by improving productivity, scalability, automation, and efficiency, all while delivering better performance and lower power consumption. Himax’s ultralow power WiseEye Module solutions are leading the AIoT revolution with their advanced, efficient, and scalable AI-driven technologies.

    The Himax WiseEye Module seamlessly integrates ultralow power WiseEye AI processors and proprietary always-on CMOS sensors, designed with compact form factors, high integration, and plug-and-play functionality. Characterized by remarkably low power consumption at just single-digit milliwatts, it is ideal for battery-powered endpoint devices that cater to everyday life. The WiseEye Module incorporates versatile AI models from in-house or third-party partners, enabling no-code/low-code AI development for use cases like people counting, gesture recognition, human detection, face recognition, and audio command classification. This simplifies the AI development process, reducing cost and time, allowing AI developers, even those with limited AI expertise, to easily integrate advanced AI features into their systems and applications. Given their versatility, WiseEye Modules are poised to become foundational technology for a wide range of IoT applications.

    At the event, a visionary and innovative lineup of ultralow power WiseEye Module solutions will be on display, showcasing their potential to revolutionize AI-powered applications across industries.

    • WiseEye PalmVein Module: Offers secure, reliable contactless biometric authentication by utilizing unique vein patterns, ensuring robust security and privacy through on-device inferencing
    • AI Baby Cry Detection Module: Accurately detects infant and child crying even in noisy environments, enhancing child safety and enabling timely, automated caregiving
    • Dynamic Gesture Module: Enables intuitive human-machine interaction, supporting a wide range of static and dynamic gestures for seamless control, enhancing accessibility and convenience without the need for traditional input methods
    • Human Sensing Module: Provides precise and energy-efficient human presence detection, creating more responsive and convenient environments in smart homes and offices
    • People Flow Management Solution: Improves space optimization and operational efficiency by analyzing human movement patterns, enabling better resource planning and allocation

    More compelling joint demonstrations with ecosystem partners will also be showcased at the event, including the world-first AI agent SenseCAP Watcher developed with Seeed Studio, mixed reality eye-tracking solutions with Ganzin, and AI-enabled thermal sensing modules in collaboration with leading thermal sensor partners, among others.

    “Our WiseEye™ Modules are designed to drive innovation and enhance lives through advanced, seamless AI integration, all while consuming ultralow power,” said Mark Chen, Vice President of Smart Sensing Business at Himax. “At Himax, we are dedicated to advancing the future of AI vision with innovative, ultralow power, easy-to-adopt AI solutions, enabling seamless integration of advanced vision AI into diverse IoT applications that power the next generation of intelligent, connected devices, enhancing everyday life,” concluded Mark.

    Himax invites all interested parties to stop by our exhibition booth at The Venetian Las Vegas Hotel (3355 Las Vegas Boulevard S, Las Vegas, Nevada, U.S.A.) Venetian Tower Suite 34-208 to experience the Company and partners’ cutting-edge WiseEye Module solutions. To schedule a meeting or booth tour, please contact Himax at: Himax_CES2025@himax.com.tw.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,683 patents granted and 390 patents pending approval worldwide as of September 30, 2024.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

    Company Contacts:

    Eric Li, Chief IR/PR Officer
    Himax Technologies, Inc.
    Tel: +886-6-505-0880
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Karen Tiao, Investor Relations
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

    Mark Schwalenberg, Director
    Investor Relations – US Representative
    MZ North America
    Tel: +1-312-261-6430
    Email: HIMX@mzgroup.us
    www.mzgroup.us

    The MIL Network –

  • MIL-OSI USA: FACT SHEET: President  Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade Practices in the Semiconductor  Sector

    US Senate News:

    Source: The White House
    A resilient and secure supply of foundational semiconductors is critical to U.S. national and economic security.  These semiconductors are essential to key sectors of the U.S. economy, powering cars, medical devices, critical infrastructure, key aerospace and defense systems, and the goods and services we rely on every day.
    The People’s Republic of China (PRC) routinely engages in non-market policies and practices, as well as industrial targeting, of the semiconductor industry that enables PRC companies to significantly harm competition and create dangerous supply chain dependencies in foundational semiconductors.  
    Today, the Biden-Harris Administration is taking additional action to protect American workers and businesses from the PRC’s unfair trade practices in the semiconductor sector and support a healthy domestic industry for foundational semiconductors. 
    These actions include:
    Launching a Section 301 investigation to examine the PRC’s targeting of foundational semiconductors.
    The Office of the U.S. Trade Representative is launching a Section 301 investigation to examine the PRC’s targeting of foundational semiconductors (also known as legacy or mature node chips) for dominance and the impact on the U.S. economy.
    In addition, the investigation will initially assess the impact of the PRC’s acts, policies, and practices on the production of silicon carbide substrates or other wafers used as inputs into semiconductor fabrication.
    PRC semiconductors often enter the U.S. market as a component of finished goods. This Section 301 investigation will examine a broad range of the PRC’s non-market acts, policies, and practices with respect to the semiconductor sector, including to the extent these semiconductors are incorporated as components into downstream products for critical industries like defense, automotive, medical devices, aerospace, telecommunications, and power generation and the electrical grid. 
    Awarding and catalyzing billions of dollars in semiconductor manufacturing projects across the country.
    The Biden-Harris Administration has championed efforts to ensure more chips are made in America by American workers, in particular through CHIPS and Science Act funding, which allocates at least $2 billion for mature semiconductors.  This was a key part of President Biden’s vision for renewing American economic leadership and a vibrant American industrial base.
    The United States is investing across the semiconductor supply chain—including the upstream materials critical to chip manufacturing such as silicon carbide and wafers.  To date, the Department of Commerce has catalyzed billions of dollars in private sector investments that will serve the American auto and defense industries, including the Texas Instruments projects in Texas and Utah, the GlobalFoundries projects in Vermont and New York, and the Bosch project in California.  Many of these investments also include supply agreements with customers across critical infrastructure industries to maximize the predictability, volume, and quality of domestically manufactured chips needed to power complex technology.  These investments are compounded and sustained by this Administration’s 48D Advanced Manufacturing Investment Credit, which will provide up to a 25% tax incentive for the manufacturing of semiconductors, semiconductor manufacturing equipment, and wafer production.
    Reducing national security risks in federal supply chains.
    Semiconductors are key components of U.S. critical infrastructure that have many military applications. It is vital that federal agencies procure secure and trusted chips. 
    To clean up federal procurement of semiconductors, the Biden-Harris Administration is:
    Implementing a statutory provision in the James M. Inhofe National Defense Authorization Act for FY 2023 that prohibits executive agencies from procuring or obtaining products and services that include chips from certain Chinese fabs and other entities of concern.
    Releasing a Request for Information (RFI) to gauge the best ways for government contractors to scale up their use of domestically manufactured chips, particularly for critical infrastructure.  The RFI intends to solicit commercial ideas from industry that may inform future policymaking in support of the government-wide effort to leverage existing manufacturing capacity.
    Issuing guidance to help the Federal Government – the world’s largest buyer – organize its demand for domestic semiconductors so that agencies can mitigate the risk posed by undue dependence on foreign manufacturing, limited competition, and possible higher manufacturing costs.  This effort includes agencies developing strategies to dual or multiple source semiconductors, increasing transparency for critical infrastructure supply chains, and providing the government’s demand for the products and services that use these chips.
    Prioritizing supply chain resilience and bolstering our toolkit to address non-market policies and practices.
    President Biden made supply chain resilience a Day One priority in his Administration.  The first-ever U.S. Government Quadrennial Supply Chain Review, published on December 19, provides an in-depth assessment of the United States’ critical supply chains, actions taken over the last four years to make each supply chain more resilient, and necessary steps to increase U.S. resilience in the future. 
    The Review includes a comprehensive strategy to respond to non-market policies and practices because they pose a significant challenge in critical industries covered in the supply chain report.  The strategy details the types of comprehensive action necessary to combat non-market policies and practices, including procurement policies. 
    Working with our partners around the world to strengthen cooperation on semiconductor supply chains and address shared concerns about China’s unfair practices.
    Semiconductor supply chains are critical not only to the United States but to all of our allies and partners.  The Biden-Harris Administration has closely consulted with allies and partners on promoting economic resilience and addressing the PRC’s non-market practices in the semiconductor supply chain, including through the following efforts:
    The State Department launched the CHIPS and Science Act’s International Technology Security and Innovation (ITSI) Fund, which has thus far partnered with eight countries – Costa Rica, Panama, Vietnam, Indonesia, India, Kenya, the Philippines, and Mexico – to promote semiconductor supply chain development, security, and diversification.
    The Department of Commerce announced the Indo-Pacific Economic Framework for Prosperity (IPEF) Agreement Relating to Supply Chain Resilience with 13 diverse partner countries across the Indo-Pacific, led by the United States, to coordinate more resilient supply chains for semiconductors and other industries.
    Within the G7, the United States has championed efforts to bolster economic resilience and address harmful market distortions and global excess capacity in key sectors resulting from non-market policies and practices.   This led to the establishment of mechanisms to jointly monitor and respond to these detrimental practices, including in the semiconductor sector.  
    President Biden recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition.  The Biden-Harris Administration will continue to collaborate with allies and partners on this critical issue in the coming days and weeks.  

    MIL OSI USA News –

  • MIL-OSI: Bitget Ranks Among Top 3 Crypto Exchanges for Futures Trading in November Report

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Dec. 23, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has shared its monthly transparency report highlighting the ecosystem’s strong performance in November 2024. The cryptomarket saw a sharp increase, with Bitcoin surging past $106,000. At Bitget, this ATH trend was replicated, with Bitget Token (BGB) rising from approximately $1.44 to $1.70, marking an increase of around 18%. This upward trend was driven by Bitget’s global expansion and significant growth in trading volumes, user engagement, and platform security, especially achieving the third position worldwide in global futures trading.

    Bitget retained over 45 million users with a daily trading volume of $10 billion, while USDT-M futures trading volume surged to $16 billion, and daily spot trading volume doubled, reaching $400 million. Its Protection Fund, growing impressively from $400 million+ to over $600 million, supports strong security and user trust on the platform.

    In November, Bitget’s top-performing spot tokens saw impressive growth, led by UNICE at 2666.71%. Additionally, 13 tokens were listed on Poolx, and 5 tokens among these were also featured in Pre-market listings, showcasing strong interest and dual exposure for these assets.

    Bitget hosted “Pitch n’ Slay” event in Bangkok. Under Bitget’s Blockchain4Her program, the competition provided exposure, capital and guidance for female entrepreneurs in the blockchain space and offered a chance to secure up to $100,000 in funding by Foresight Ventures. Pitch n’ Slay showcased the power of collaboration in creating inclusive pathways for women in blockchain, aligning with Bitget’s commitment to fostering a diverse and thriving blockchain ecosystem.

    Bitget introduced VND Bank Transfer in Vietnam. It enables users to deposit VND through VietQR and withdraw funds via bank transfers to purchase popular crypto such as BTC, ETH, USDT, SOL, and BGB through Bitget’s cash conversion feature.

    Bitget Wallet introduced a comprehensive memecoin trading toolkit, enabling users to discover high-potential tokens, analyze critical data, and trade seamlessly across multiple chains. Additionally, it launched the Refer2Earn Program, encouraging user growth through passive income, and a $20M Telegram Mini-App Support Program to empower developers and drive innovation in the Telegram ecosystem.

    Bitget’s strong performance shows it shines again as the top global players in the crypto industry. The company will keep focusing on innovation, user engagement, and market expansion in the rapidly evolving crypto sector, ongoingly bridging CeFi and DeFi, and expanding access to decentralized finance.

    For more information, please visit the monthly report here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44eb3496-f2b3-4044-a147-b66820609d72

    The MIL Network –

  • MIL-OSI: Tower Semiconductor Releases 300mm 65nm 3.3V-Based BCD Power Management Platform

    Source: GlobeNewswire (MIL-OSI)

    Delivering high-efficiency power, high-performance analog, and high-density digital in a single power management platform for mobile, AI, and data center applications 

    MIGDAL HAEMEK, Israel, December 23, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), a leading foundry of high-value analog semiconductor solutions, today announced its new 300mm 65nm 3.3V-based BCD Power management platform, PML, in addition to its successful 5V-based offering already in high-volume production in Japan and that which is being qualified in Albuquerque, New Mexico, USA, manufacturing site. This new, cutting-edge platform addresses the stringent low-voltage requirements of mobile devices and meets the growing demands for high power efficiency and power density in AI and data center applications.

    The advanced 300mm BCD PML offering comprises LDMOS devices with ultra-low on-resistance and best-in-class figure-of-merit, achieving highest power conversion efficiency for fast switching converters. In addition, it features power devices with wide voltage range and a nominal 3.3V gate voltage that can be substantially overdriven and underdriven addressing products such as PMIC, Audio IC, and high-power voltage regulators for GPU and CPU. These advantages enable users to achieve outstanding performance in power consumption and extend battery life in battery operated applications.

    “Our new PML platform exemplifies Tower Semiconductor’s continuous success in providing cutting-edge power management technology solutions,” said Shimon Greenberg, General Manager of Power Management Business Unit. “Specifically designed for advanced power management applications, this innovation empowers our customers to develop industry-leading products with a competitive edge that address the evolving demands of the strategic mobile, AI, and data center markets”.

    For additional information on Tower’s PM technology platform, please visit here.

    About Tower Semiconductor         

    Tower Semiconductor Ltd. (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, provides technology, development, and process platforms for its customers in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor focuses on creating a positive and sustainable impact on the world through long-term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, displays, integrated power management (BCD and 700V), photonics, and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as process transfer services including development, transfer, and optimization, to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor owns two facilities in Israel (150mm and 200mm), two in the U.S. (200mm), two in Japan (200mm and 300mm) which it owns through its 51% holdings in TPSCo, shares a 300mm facility in Agrate, Italy, with ST as well as has access to a 300mm capacity corridor in Intel’s New Mexico factory. For more information, please visit: www.towersemi.com.

    Safe Harbor Regarding Forward-Looking Statements

    This press release includes forward-looking statements, which are subject to risks and uncertainties. Actual results may vary from those projected or implied by such forward-looking statements. A complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this press release or which may otherwise affect Tower’s business is included under the heading “Risk Factors” in Tower’s most recent filings on Forms 20-F and 6-K, as were filed with the Securities and Exchange Commission (the “SEC”) and the Israel Securities Authority. Tower does not intend to update, and expressly disclaim any obligation to update, the information contained in this release.

    Tower Semiconductor Investor Relations Contact: Noit Levy | +972-4-604-7066 | noitle@towersemi.com
    Tower Semiconductor Company Contact: Orit Shahar | +972-74-7377440 | oritsha@towersemi.com

    Attachment

    The MIL Network –

  • MIL-OSI: Enlight Announces the Financial Close for Project Roadrunner

    Source: GlobeNewswire (MIL-OSI)

    The debt financing package includes $550 million of construction loans

    Roadrunner consists of 290 MW of solar generation and 940 MWh of energy storage capacity, and is expected to reach full COD by the end of 2025

    TEL AVIV, Israel, Dec. 23, 2024 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, today announced that the Company has arranged the debt financing (the “Debt Financing”) for project Roadrunner (“Roadrunner” or “the Project”), located near Tuscon, Arizona, USA.

    As part of the Debt Financing, Enlight, through its subsidiary Clenera Holdings LLC, has entered into a loan agreement with a consortium of four leading global banks including BNP Paribas Securities Corp, Crédit Agricole, Natixis CIB, and Norddeutsche Landesbank Girozentrale (Nord/LB), totaling $550 million, which are expected to convert into a $290 million term loan and $320 million of tax equity funding upon the Project’s COD. The term loan is structured with an amortization tenor of 20-25 years and is to be fully repaid 5 years from the Project’s COD (mini perm). The loans are subject to an all-in interest rate of SOFR + 1.5%-1.75%, which rises by 0.125% after four years. Paragon Energy Capital served as Clenera’s exclusive financial advisor on the transaction.

    During the Project’s construction period, the Company’s equity investment is expected to amount to 10% of the expected total Project cost of $610 million. The debt financing arrangements are expected to enable the Company to recycle the entire equity investment upon COD subject to minimum project coverage ratios. The Company expects to conclude a tax equity transaction during 2025, noting that the project has secured safe harbor status.

    Roadrunner (also known as Apache Solar II) is the second-largest project in Enlight’s history, consists of 290 MW solar generation and 940 MWh of energy storage capacity, and is expected to reach full COD by the end of 2025. Construction at the 1200-acre site has already begun, and all procurement contracts have been signed. The Project has a 20-year busbar power purchase agreement covering its entire output with the Arizona Electric Power Cooperative (AEPCO), and is expected to generate revenues of $51-54 million and EBITDA1 of $41-44 million in its first full year of operation. A summary of the Project’s financial information appears in the tables below:

    (as expected at COD)

    Total project cost

    Term debt

    Upfront tax equity

    Sponsor equity upon COD
     

    $ 610 million

    $ 290 million

    $320 million

    $0
     

    Total project cost net of tax equity

    Revenues in first full year

    EBITDA in first full year1
     

    $ 290 million

    $51-54 million

    $41-44 million

    1EBITDA is a non-IFRS financial measure. This figure represents EBITDA for the project and excludes all ITC and PTC proceeds, as well as the impact of a potential tax equity transaction. The tax equity partner’s share is expected to range between 10-15% of the Project’s EBITDA during the first years of operation.

    Roadrunner is being built in the Sulphur Springs Valley region near Tucson, Arizona. Arizona possesses one of highest rates of growth in data centers in the U.S., driving a significant increase in the demand for electricity. The area’s high altitude, mild weather, and very high irradiance make it especially suitable for a utility-scale solar plant. The Project is located in a sparsely populated area and integrates with the larger Apache Generating Station, a diverse energy complex used by AEPCO.

    After the completion of Apex in Montana and Atrisco in New Mexico, Roadrunner is one of several major solar and energy storage projects that Enlight and Clenera are now constructing in the U.S. These include Country Acres (392 MW and 688 MWh) and Quail Ranch (128 MW and 400 MWh). Along with additional projects planned to be built in the years to come, these projects are driving Enlight’s massive expansion into the U.S. renewable energy market. This is best illustrated by the growing run rate of Enlight’s U.S. revenue base, which is expected to reach $195-207 million annually after the completion of the projects now under construction.

    The Company’s next projects in Arizona are Snowflake (600 MW and 1,900 MWh) and CO Bar (1,211 MW and 824 MWh). The two mega projects have almost completed their development phase, and are scheduled to begin construction in the coming months. Each of the two projects are set to achieve grid connection of 1.0 GW, one of the largest in the US. These grid connections generate potential additional development opportunities in the future through the Company’s “Connect and Expand” strategy, which seeks to leverage existing interconnect infrastructure with additional generation capacity.

    Nir Yehuda, CFO of Enlight, commented, “We appreciate our financial partners’ support and commitment in arranging the debt financing for project Roadrunner, which has made it possible for us to progress with its construction. Roadrunner is expected to begin commercial operation by the end of 2025. We look forward to continued collaboration on Country Acres and Quail Ranch, projects which we are now in the process of building and financing.”

    “We are grateful to have established our business as a reliable partner for these financial institutions,” said Adam Pishl, President and CEO of Clenera. “We have demonstrated our ability to build projects on time and on budget, and manage operational solar and storage farms that generate consistent long-term returns. It is exciting to close this deal and fuel our continued growth with projects across America.”

    Aashish Mohan, Co-Head of Energy, Resources & Infrastructure Americas, at BNP Paribas, commented, “BNP Paribas is proud to have supported Clenera and Enlight as Coordinating Lead Arranger on this landmark clean energy project financing. Supporting premier platforms like Clenera squarely fits our energy transition ambitions, and we look forward to partnering with the company again as they continue to execute on their high-quality pipeline.”

    Daniel Feigin, Head of Energy & Infrastructure Group, North America at Crédit Agricole CIB, said, “Crédit Agricole CIB’s collaboration with Enlight and Clenera on this landmark project in Arizona is a testament to the power of partnership and innovation. Roadrunner will provide clean, low-cost energy and storage. We are honored to have played a crucial role in helping a world class developer bringing this project to financial close and contributing to our mission of facilitating clean power generation and economic growth.”

    Nasir Khan, Managing Director & Head of Infrastructure & Energy Finance Americas at Natixis CIB, said, “We are thrilled to announce the successful close our first transaction with Enlight and Clenera, and would especially like to thank the teams for their professionalism and partnership over the past several months. Natixis CIB is committed to driving the energy transition through financing high-quality landmark projects such as Roadrunner, and we look forward to seeing it reach completion in the next year.”

    Sondra Martinez, Managing Director and Head of Originations at NORD/LB New York, commented, “Nord/LB is thrilled to support Clenera and Enlight on the Roadrunner transaction. This transaction represents our commitment to partnerships and supporting clients as they advance the energy transition.”

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its US IPO (NASDAQ: ENLT) in 2023. Learn more at enlightenergy.co.il.

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI: Hyperscale Data Enters into an Agreement for a Financing of up to $25 Million

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Dec. 23, 2024 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), announced today that it has entered into a Securities Purchase Agreement (the “Agreement”) providing for up to $25 million of financing (the “Financing”) from Ault & Company, Inc., a related party (“A&C”). Pursuant to the Agreement, Hyperscale Data has agreed to issue and sell to A&C up to $25 million in shares of Series G Convertible Preferred Stock (the “Preferred Shares”). The Preferred Shares will be senior to all other classes of preferred stock the Company has outstanding except with respect to the Series C Convertible Preferred Stock (the “Series C Preferred Stock”), with which it ranks in parity, as well as senior to the Company’s Class A common stock (“Common Stock”).

    Each Preferred Share shall have a stated value of $1,000.00 per share and, upon stockholder approval, shall be convertible at the holder’s option into shares of Common Stock at a conversion price equal to the greater of (i) $0.10 per share (the “Floor Price”), which Floor Price shall not, except for voting rights purposes, be adjusted for stock dividends, stock splits, stock combinations and other similar transactions and (ii) the lesser of (A) $6.74, or (B) a 5% premium to the closing sale price of the Common stock on the day immediately prior to the date of conversion (the “Conversion Price”). The Conversion Price will be subject to standard anti-dilution provisions in connection with any stock split, stock dividend, subdivision or similar reclassification of the Common Stock. The Preferred Stock also has “full ratchet” price protection in the event the Company should issue securities at a lower price than the Conversion Price. The Preferred Stock shall pay a dividend at an annual rate of 9.5%, which the Company may, during the first two years, pay in shares of Common Stock.

    Further, A&C will receive warrants (“Warrants”) to purchase up to approximately 4.25 million shares of Common Stock, presuming that the full amount of the Preferred Shares is sold, exercisable for five years at $5.92 per share, subject to adjustment.

    The proceeds from the Financing will be used for expansion of the MI data center to support infrastructure upgrades necessary to support the growing demands of high-performance computing services powering Artificial Intelligence solutions, repayment of outstanding indebtedness and general working capital purposes.

    “The conversion price of the Preferred Shares is nearly a 25% premium over the current market price. That A&C is willing to invest an additional up to $25 million, beyond the $75 million in shares of a virtually identical series of preferred stock, the Series C Preferred Stock of which it has already purchased approximately $50 million, on those terms should be a clear indicator of our belief that the market has been undervaluing the Company, which I’ve been highlighting for years. This transaction is more than a number—it’s a declaration of my steadfast confidence in our data centers, the crane company, the lending firm, and the exceptional portfolio companies we’ve nurtured over the past seven years. Each is a vital component of our collective success,” said Milton “Todd” Ault III, Executive Chairman of Hyperscale Data and Chairman & CEO of A&C.

    The Agreement provides for several closings through December 31, 2025, though such dates may be extended by A&C as set forth in the Agreement. The consummation of the transactions contemplated by the Agreement, specifically the conversion of the Preferred Shares and the exercise of the Warrants in an aggregate number in excess of 19.99% on the execution date of the Agreement, are subject to various customary closing conditions as well as regulatory and stockholder approval. In addition to customary closing conditions, the closing of the Financing is also conditioned upon the receipt by A&C of financing to consummate the transaction.

    Additional information regarding the securities described above and the terms of the Financing will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission (“SEC”).

    The Preferred Shares and Warrants will be issued in reliance upon the exemption from the securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”) as promulgated by SEC under the Securities Act.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

  • MIL-OSI: Bitget Partners with Fiat24 to Advance PayFi Solutions for Crypto

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Dec. 23, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has announced a strategic partnership with Fiat24, a Swiss-regulated fintech company that develops modern banking solutions powered by blockchain technology. The collaboration focuses on exploring PayFi solutions for major cryptos like Ethereum (ETH) and Bitget Token (BGB), as well as stablecoins such as USD Coin (USDC). This initiative aims to provide seamless, efficient, and secure payment solutions that bridge traditional and decentralized financial ecosystems.

    Bitget has recently made significant progress in the PayFi space with the launch of services such as Bitget Pay and Bitget Card. Bitget Pay enables low-fee, instant crypto payments, while the Bitget Card allows users to seamlessly convert crypto into fiat for real-world transactions using a globally accepted debit card.

    Fiat24, on the other hand, offers a regulated Swiss-based payment system to users across 65 countries and regions, providing access to a crypto-friendly Swiss offshore bank account paired with a Mastercard debit card. This blockchain-driven approach ensures transparency, security, and user ownership.

    The partnership between Bitget and Fiat24 combines Bitget’s comprehensive crypto ecosystem with Fiat24’s innovative infrastructure. Together, they aim to expand the use cases for ETH, BGB, and stablecoins, driving accessibility and adoption of PayFi solutions globally.

    “We are excited to collaborate with Fiat24 to advance crypto payments and simplify access to financial services for users worldwide, especially the unbanked,” said Gracy Chen, CEO at Bitget. “PayFi will be one of Bitget and BGB’s long-term strategies and a key approach to enhancing the real-world impact of crypto assets. Together with our partners, we envision a future where crypto payments become the norm.”

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e693ef7b-cac1-4f78-9c91-fcb74f563615

    The MIL Network –

  • MIL-OSI: Partners Value Investments L.P. Announces Renewal of Normal Course Issuer Bids

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) — Partners Value Investments L.P. (the “Partnership”) (TSX VENTURE: PVF) announced today that it has received approval from the TSX Venture Exchange (the “Exchange”) to renew its normal course issuer bids to purchase up to 3,521,732 of its non‐voting equity limited partnership units (the “Equity LP Units”), representing approximately 5% of its currently outstanding Equity LP Units; and to purchase up to 938,226 of its non‐voting Class A preferred limited partnership units, Series 1 (the “Preferred LP Units”), representing approximately 5% of its currently outstanding Preferred LP Units (collectively, the “Bids”). The period of the Bids will be effective from January 3, 2025 to January 2, 2026, or such earlier date that the Partnership completes its purchases.

    Purchases by the Partnership pursuant to the Bids will be made by its broker, RBC Capital Markets, through the facilities of the Exchange, other designated exchanges and alternative trading systems in Canada. The price which the Partnership will pay for any Equity LP Units and Preferred LP Units purchased will be the market price of the Equity LP Units and Preferred LP Units at the time of acquisition. Any Equity LP Units and/or Preferred LP Units acquired through the Bids will be cancelled. As of December 13, 2024, there were 70,434,631 Equity LP Units outstanding and 18,764,512 Preferred LP Units outstanding.

    Of the 3,533,556 Equity LP units and 938,350 Preferred LP Units approved for purchase under the Partnership’s prior normal course issuer bids that commenced on January 3, 2024 and will be expiring on January 2, 2025, the Partnership purchased 278,324 Equity LP Units at an average price of $102.02 and did not make any purchase of Preferred LP Units through the facilities of the Exchange, other designated exchanges or an alternative trading system in Canada.

    The Partnership believes that, from time to time, the market price of its securities may not adequately reflect their value. In such circumstances, the Partnership believes the purchase of its outstanding securities may represent an appropriate and desirable use of its available funds. All Equity LP Units and Preferred LP Units acquired by the Partnership under the Bids will be cancelled.

    In connection with the Bids, the Partnership entered into an automatic purchase plan with its designated broker, RBC Capital Markets. The automatic purchase plan will allow for the purchase of Equity LP Units and Preferred LP Units when the Partnership would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Outside of these periods, Equity LP Units and Preferred LP Units will be repurchased in accordance with management’s discretion and in compliance with applicable law.

    For further information, contact Investor Relations at ir@pvii.ca or 416-643-7621.

    Note: This news release contains “forward-looking information” within the meaning of Canadian provincial securities laws and “forward-looking statements” within the meaning of applicable Canadian securities regulations. Expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward- looking information and forward-looking statements.

    Although the Partnership believes that its anticipated future results, performance or achievements expressed or implied by the forward-looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve known and unknown risks, uncertainties and other factors, many of which are beyond its control, which may cause the actual results, performance or achievements of the Partnership to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements and information.

    Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements and information include, but are not limited to: the financial performance of Brookfield Corporation and Brookfield Asset Management Ltd., the impact or unanticipated impact of general economic, political and market factors; the behavior of financial markets, including fluctuations in interest and foreign exchanges rates; global equity and capital markets and the availability of equity and debt financing and refinancing within these markets; strategic actions including dispositions; changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates); the effect of applying future accounting changes; business competition; operational and reputational risks; technological change; changes in government regulation and legislation; changes in tax laws, catastrophic events, such as earthquakes, hurricanes, or pandemics/epidemics; the possible impact of international conflicts and other developments including terrorist acts; and other risks and factors detailed from time to time in the Partnership’s documents filed with the securities regulators in Canada.

    The Partnership cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on the Partnership’s forward-looking statements and information, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, the Partnership undertakes no obligation to publicly update or revise any forward-looking statements and information, whether written or oral, that may be as a result of new information, future events or otherwise.

    The MIL Network –

  • MIL-OSI: Boralex adds another 97 MW in its expanding UK portfolio

    Source: GlobeNewswire (MIL-OSI)

    EDINBURGH, United Kingdom, Dec. 23, 2024 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) is pleased to announce that it has entered into a joint venture for the development, construction and operation of the proposed 145MW Clashindarroch Wind Farm Extension and adjacent 50MW Battery Energy Storage System (BESS), for a total capacity of 195MW. The project is located near Dufftown in Moray, Scotland. Boralex has been developing this project for a number of years on behalf of Clashindarroch Wind Farm Extension Ltd.

    Esbjorn Wilmar, Country Director of Boralex in the United Kingdom said: “We are delighted to have become co-owners of this exciting project. We already have extensive experience in the area through the initial development of the 177MW Dorenell Wind Farm. We now look forward to taking Clashindarroch Wind Farm Extension through the remaining stages of development.”

    Nicolas Wolff, Executive Vice President and General Manager of Boralex in Europe said: “This latest achievement by our UK team will enable us to accelerate the deployment of our Strategic Plan. Through this joint venture, we are adding to our already solid portfolio, supported by our organic developments and the recent acquisition of the 50MW Sallachy wind project.”

    Today’s announcement comes at a pivotal moment in the UK. Earlier in the month, the UK government unveiled its Clean Power Action Plan, setting out how it wants to achieve its grid decarbonisation targets by 2030. This plan, seen as a landmark for the clean energy sector, aims to unlock £40 billion annually from the private sector for investments in infrastructure and renewable energy. It also states that onshore wind capacity should be almost doubled to meet the decarbonisation target, from 14GW installed today to 27GW by 2030.

    The Company submitted a Section 36 application to the Scottish Government. The application is currently under consideration by the Government’s Energy Consents Unit (ECU). The Clashindarroch Wind Farm Extension application consists of up to 22 wind turbines each with an installed capacity of up to 6.6MW, as well as a battery storage facility of up to 50MW.

    On this transaction, CMS acted as Boralex’s legal advisers.

    About Boralex

    At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has more than doubled to over 3.1 GW. We are developing a portfolio of more than 7.2 GW in wind, solar projects and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader. Boralex’s shares are listed on the Toronto Stock Exchange under the ticker symbol BLX.

    For more information, visit boralex.com or sedarplus.com. Follow us on Facebook, LinkedIn and Instagram.

    For more information

    MEDIA  INVESTOR RELATIONS 
    Camille Laventure 
    Senior Advisor, Public Affairs and External Communications
    Boralex Inc. 

    438-883-8580 
    camille.laventure@boralex.com  

    		 Stéphane Milot 
    Vice President, Investor Relations 

    Boralex Inc. 

    514-213-1045 
    stephane.milot@boralex.com  

    Source: Boralex Inc.        

    The MIL Network –

  • MIL-OSI Video: The Future of Growth: Rethinking Prosperity for All

    Source: World Economic Forum (video statements)

    Explore how the World Economic Forum’s Future of Growth initiative is shaping sustainable and inclusive economic models for the 21st century. https://initiatives.weforum.org/future-of-growth-initiative/home

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/ 
    Twitter ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #WorldEconomicForum #InclusiveGrowth #Sustainability #InvestingInPeople #wef25

    https://www.youtube.com/watch?v=uquQHM8z0Yw

    MIL OSI Video –

  • MIL-OSI: TeraWulf to Deliver over 70 MW of Data Center Infrastructure for G42’s US Operations

    Source: GlobeNewswire (MIL-OSI)

    Core42, a Subsidiary of G42, will utilize the facility to expand its industry-leading AI Infrastructure offerings tailored to US customers

    Strategic Expansion of TeraWulf’s Platform into AI-Driven HPC Hosting, Complementing Profitable Bitcoin Mining Operations

    Management to Host Conference Call and Live Audio Webcast at 8:00 a.m. Eastern Time Today

    EASTON, Md., Dec. 23, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced the signing of long-term data center lease agreements with Core42, a G42 company specializing in sovereign cloud, AI infrastructure, and digital services.

    Under the data center lease agreements, TeraWulf will deliver over 70 megawatts (MW)1 of turn-key data center infrastructure to host Core42’s deployment at the Lake Mariner facility in Upstate New York. The infrastructure will be released for production in phases between Q1 and Q3 2025.

    TeraWulf will customize the data halls to support Core42’s GPU clusters, which will feature state-of-the-art Dell Integrated Rack Scalable Solutions, the Dell IR5000. These integrated racks include direct liquid cooled Dell PowerEdge XE9680L GPU servers and will come online in phases.

    The data center leases reflect TeraWulf’s strategic extension into AI-driven computing, complementing its profitable Bitcoin mining operations and aligning with the Company’s mission to leverage scalable, sustainable energy to power the digital economy.

    Leadership Commentary

    “Our strategic relationship with G42, and most specifically with Core42, positions TeraWulf at the intersection of two of today’s most transformative computational networks: AI compute and Bitcoin mining,” said Paul Prager, Chief Executive Officer of TeraWulf. “The surging demand for scalable, energy-efficient infrastructure presents a tremendous opportunity. Our ability to rapidly deliver customized, predominantly zero-carbon-powered solutions solidifies our position as a leader in the digital infrastructure space. This agreement not only diversifies our revenue streams but also significantly enhances our long-term earnings potential.”

    Nazar Khan, Chief Technology Officer of TeraWulf, emphasized the strength of the collaboration by remarking, “Core42’s entrepreneurial vision and impressive growth trajectory make them an exceptional partner. Together, we are uniquely equipped to meet the growing demand for AI-driven computing solutions.”

    “TeraWulf’s Lake Mariner facility represents an ideal match for Core42’s expanding next-generation digital infrastructure in North America,” said Edmondo Orlotti, Chief Growth Officer of Core42. “The facility’s access to predominantly zero-carbon power, combined with TeraWulf’s demonstrated ability to rapidly deploy customized data center solutions, aligns perfectly with our commitment to sustainable, high-performance AI compute infrastructure.” 

    Arthur Lewis, President of the Infrastructure Solutions Group at Dell Technologies commented: “Dell Technologies is committed to empowering organizations of all types with tools like the Dell AI Factory to thrive in a data-driven world. With TeraWulf and Core42, we’re delivering industry-leading, liquid-cooled server solutions that enable scalable, sustainable data center infrastructure, accelerating AI innovation across industries.”

    Financial Highlights

    The data center leases include two five-year renewal options, providing a long-term, stable, high-margin revenue stream for TeraWulf. Additionally, the data center lease agreements include provisions for expanding near-term hosting capacity for Core42 by an additional 135 MW gross, which is equivalent to 108 MW of critical IT load, underscoring the potential for future scalability and revenue growth.

    Advisors

    TeraWulf is being advised by JP Morgan and Morgan Stanley as financial advisors and Milbank LLP and Stutzman, Bromberg, Esserman & Plifka, P.C. as legal advisors.

    Conference Call and Webcast Details

    TeraWulf will host a conference call to discuss the partnership with Core42. Hosting the call and webcast will be Paul Prager, Chief Executive Officer, Nazar Khan, Chief Technology Officer, Patrick Fleury, Chief Financial Officer, Kerri Langlais, Chief Strategy Officer, and John Larkin, Director of Investor Relations.

    Date: December 23, 2024
    Time: 8:00 a.m. Eastern Time
    Participant Dial-In: 1-877-407-0789 or 1-201-689-8562

    Investors are invited to submit questions ahead of the call to info@terawulf.com. The management team will address as many questions as possible during the live call.

    All interested parties may also access a live webcast of the event at www.investors.terawulf.com, under the “News and Events” tab, or by using the following link:

    https://viavid.webcasts.com/starthere.jsp?ei=1702352&tp_key=2f26f643b7

    For those unable to participate during the live webcast, a replay will be available at www.investors.terawulf.com.

    All questions pertaining to G42 can be addressed to media@g42.ai.

    All questions pertaining to Core42 can be addressed to communications@core42.ai.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and hosting HPC workloads. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including hydroelectric and nuclear power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    About Core42

    Core42, a G42 company, empowers individuals, enterprises, and nations to unlock the full potential of AI through its comprehensive enablement capabilities. As a leading provider of sovereign cloud, AI infrastructure, and services, our mission is to accelerate the achievements of others and help them reach their most ambitious goals.

    To learn more, please visit www.core42.ai and follow Core42 LinkedIn, Core42 Instagram, Core42 X.

    About G42

    G42 is a global leader in creating visionary artificial intelligence capabilities for a better tomorrow. Born in Abu Dhabi and operating around the world, G42 champions AI as a powerful force for good. Its people are constantly reimagining what technology can do, applying advanced thinking and innovation to accelerate progress and tackle society’s most pressing problems.

    G42 is joining forces with nations, corporations and individuals to create the infrastructure for tomorrow’s world. From molecular biology to space exploration and everything in between, G42 realizes exponential possibilities, today.

    For further information visit www.g42.ai.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com 

    Media:
    media@terawulf.com 

    ____________________________
    1     Represents gross capacity. Critical IT capacity is as follows: 2 MW for the Wulf Den, 16 MW for CB-1, and 42 MW for CB-2.

    The MIL Network –

  • MIL-OSI USA: NCDHHS Invests $20 Million in Transportation Program for People Experiencing a Mental Health Crisis

    Source: US State of North Carolina

    Headline: NCDHHS Invests $20 Million in Transportation Program for People Experiencing a Mental Health Crisis

    NCDHHS Invests $20 Million in Transportation Program for People Experiencing a Mental Health Crisis
    hejones1

    The North Carolina Department of Health and Human Services today announced a $20 million investment made possible by the NC General Assembly in Non-Law Enforcement Transportation, a promising practice of providing trauma-informed transportation for people in mental health crisis who need to be transported from emergency rooms to residential treatment. In the past, much of this transportation was provided by law enforcement; but non-law enforcement transportation provides a safe, therapeutic alternative for people already in mental health distress. 

    “People in crisis need health care, not handcuffs,” said NC Health and Human Services Secretary Kody H. Kinsley. “This program helps people experiencing a mental health crisis receive safe transportation to the inpatient care that they need.”

    Currently, many counties across North Carolina rely on law enforcement to transport individuals experiencing a mental health crisis.  This often involves the use of police vehicles, lights, sirens and, in some cases, handcuffs — all of which can unintentionally turn a routine transfer into a traumatic experience. The new transportation program aims to decriminalize and destigmatize the process of seeking mental health care.

    “We want people and families feeling comfortable reaching out for mental health crisis support when they need it,” said Kelly Crosbie, MSW, LCSW, Director of the NCDHHS Division of Mental Health, Developmental Disabilities, and Substance Use Services. “Knowing a person may be transported in police custody can be a deterrent for people reaching out for the care that they need. This new program is part of our work to strengthen the North Carolina mental health crisis system, ensuring people in crisis can access support without fear or stigma.”

    NCDHHS is working closely with many community partners to ensure the mental health crisis transportation program is designed to effectively reduce the burden on law enforcement to conduct mental health-related transportation services and ensure officers can focus on their core responsibilities.

    The new transportation program will initially operate in two regions of the state, which will be identified through a competitive request for proposal process. The RFP is now open, allowing qualified transportation vendors to apply for funding. Eligible transportation vendors can access and apply for the RFP on the NCDHHS website. 

    The initiative is part of NCDHHS’s broader $835 million investment to transform North Carolina’s behavioral health system, including efforts to build a crisis response system, decrease emergency department boarding times and provide faster access to care for all North Carolinians in need of mental health treatment.

    El Departamento de Salud y Servicios Humanos de Carolina del Norte anunció hoy una inversión de $ 20 millones hecha posible por la Asamblea General de Carolina del Norte en Transporte No Policial, una práctica prometedora de proporcionar transporte informado sobre el trauma para las personas en crisis de salud mental que necesitan ser transportadas de las salas de emergencia al tratamiento residencial. En el pasado, gran parte de este transporte era proporcionado por la policía; pero el transporte no policial proporciona una alternativa segura y terapéutica para las personas que ya tienen problemas de salud mental.   

    “Las personas en crisis necesitan atención médica, no esposas”, dijo el secretario de Salud y Servicios Humanos de Carolina del Norte, Kody H. Kinsley. “Este programa ayuda a las personas que experimentan una crisis de salud mental a recibir transporte seguro a la atención hospitalaria que necesitan”.

    Actualmente, muchos condados de Carolina del Norte dependen de la aplicación de la ley para transportar a las personas que experimentan una crisis de salud mental. Esto a menudo implica el uso de vehículos policiales, luces, sirenas y, en algunos casos, esposas, todo lo cual puede convertir involuntariamente una transferencia de rutina en una experiencia traumática. El nuevo programa de transporte pretende eliminar la penalización y el estigma del proceso de búsqueda de atención de salud mental.

    “Queremos que las personas y las familias se sientan cómodas buscando apoyo para crisis de salud mental cuando lo necesiten”, dijo Kelly Crosbie, MSW, LCSW, directora de la División de Salud Mental, Discapacidades del Desarrollo y Servicios de Uso de Sustancias del NCDHHS. “Saber que una persona puede ser transportada bajo custodia policial puede ser un elemento que desanime a las personas que buscan la atención que necesitan. Este nuevo programa es parte de nuestro trabajo para fortalecer el sistema de crisis de salud mental de Carolina del Norte, asegurando que las personas en crisis puedan acceder al apoyo sin miedo ni estigma”.

    El NCDHHS está trabajando en estrecha colaboración con muchos socios comunitarios para garantizar que el programa de transporte de crisis de salud mental esté diseñado para reducir efectivamente la carga de las fuerzas del orden público para llevar a cabo servicios de transporte relacionados con la salud mental y garantizar que los oficiales puedan concentrarse en sus responsabilidades principales.

    El nuevo programa de transporte operará inicialmente en dos regiones del estado, que se identificarán a través de un proceso competitivo de solicitud de propuestas. El proceso de solicitud de propuestas (RFP, por sus siglas en inglés) ya está abierto, lo que permite a los proveedores de transporte calificados solicitar fondos. Los proveedores de transporte elegibles pueden acceder y aplicar para el RFP en el sitio web del NCDHHS. Haga clic aquí para ver la aplicación.

    La iniciativa es parte de la inversión más amplia de $ 835 millones del NCDHHS para transformar el sistema de salud conductual de Carolina del Norte, incluidos los esfuerzos para construir un sistema de respuesta a crisis, reducir los tiempos de espera en el departamento de emergencias y proporcionar un acceso más rápido a la atención para todos los habitantes de Carolina del Norte que necesitan tratamiento de salud mental.

    Dec 20, 2024

    MIL OSI USA News –

  • MIL-OSI Security: United States Charges Dual Russian and Israeli National as Developer of LockBit Ransomware Group

    Source: United States Attorneys General

    Defendant Rostislav Panev in Custody Pending Extradition from Israel to the United States

    Note: A copy of the superseding criminal complaint can be found here.

    A superseding criminal complaint filed in the District of New Jersey was unsealed today charging a dual Russian and Israeli national for being a developer of the LockBit ransomware group.

    In August, Rostislav Panev, 51, a dual Russian and Israeli national, was arrested in Israel pursuant to a U.S. provisional arrest request with a view towards extradition to the United States. Panev is currently in custody in Israel pending extradition on the charges in the superseding complaint.

    “The Justice Department’s work going after the world’s most dangerous ransomware schemes includes not only dismantling networks, but also finding and bringing to justice the individuals responsible for building and running them,” said Attorney General Merrick B. Garland. “Three of the individuals who we allege are responsible for LockBit’s cyberattacks against thousands of victims are now in custody, and we will continue to work alongside our partners to hold accountable all those who lead and enable ransomware attacks.”

    “The arrest of Mr. Panev reflects the Department’s commitment to using all its tools to combat the ransomware threat,” said Deputy Attorney General Lisa Monaco. “We started this year with a coordinated international disruption of LockBit — the most damaging ransomware group in the world. Fast forward to today and three LockBit actors are in custody thanks to the diligence of our investigators and our strong partnerships around the world. This case is a model for ransomware investigations in the years to come.”

    “The arrest of alleged developer Ratislav Panev is part of the FBI’s ongoing efforts to disrupt and dismantle the LockBit ransomware group, one of the most prolific ransomware variants across the globe,” said FBI Director Christopher Wray. “The LockBit group has targeted both public and private sector victims around the world, including schools, hospitals, and critical infrastructure, as well as small businesses and multi-national corporations.  No matter how hidden or advanced the threat, the FBI remains committed to working with our interagency partners to safeguard the cyber ecosystem and hold accountable those who are responsible for these criminal activities.” 

    “The criminal complaint alleges that Rotislav Panev developed malware and maintained the infrastructure for LockBit, which was once the world’s most destructive ransomware group and attacked thousands of victims, causing billions of dollars in damage,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “Along with our domestic and international law enforcement partner actions to dismantle LockBit’s infrastructure, the Criminal Division has disrupted LockBit’s operations by charging seven of its key members (including affiliates, developers, and its administrator) and arresting three of these defendants — including Panev. We are especially grateful for our partnerships with authorities in Europol, the United Kingdom, France, and Israel, which show that, when likeminded countries work together, cybercriminals will find it harder to escape justice.”

    “As alleged by the complaint, Rostislav Panev for years built and maintained the digital weapons that enabled his LockBit coconspirators to wreak havoc and cause billions of dollars in damage around the world,” said U.S. Attorney Philip R. Sellinger for the District of New Jersey. “But just like the six other LockBit members previously identified and charged by this office and our FBI and Criminal Division partners, Panev could not remain anonymous and avoid justice indefinitely. He must now answer for his crimes. Today’s announcement represents another blow struck by the United States and our international partners against the LockBit organization, and our efforts will continue relentlessly until the group is fully dismantled and its members brought to justice.”

    According to the superseding complaint, documents filed in this and related cases, and statements made in court, Panev acted as a developer of the LockBit ransomware group from its inception in or around 2019 through at least February 2024. During that time, Panev and his LockBit coconspirators grew LockBit into what was, at times, the most active and destructive ransomware group in the world. The LockBit group attacked more than 2,500 victims in at least 120 countries around the world, including 1,800 in the United States. Their victims ranged from individuals and small businesses to multinational corporations, including hospitals, schools, nonprofit organizations, critical infrastructure, and government and law-enforcement agencies. LockBit’s members extracted at least $500 million in ransom payments from their victims and caused billions of dollars in other losses, including lost revenue and costs from incident response and recovery.

    LockBit’s members comprised “developers,” like Panev, who designed the LockBit malware code and maintained the infrastructure on which LockBit operated. LockBit’s other members, called “affiliates,” carried out LockBit attacks and extorted ransom payments from LockBit victims. LockBit’s developers and affiliates would then split ransom payments extorted from victims.

    As alleged in the superseding complaint, at the time of Panev’s arrest in Israel in August, law enforcement discovered on Panev’s computer administrator credentials for an online repository that was hosted on the dark web and stored source code for multiple versions of the LockBit builder, which allowed LockBit’s affiliates to generate custom builds of the LockBit ransomware malware for particular victims. On that repository, law enforcement also discovered source code for LockBit’s StealBit tool, which helped LockBit affiliates exfiltrate data stolen through LockBit attacks. Law enforcement also discovered access credentials for the LockBit control panel, an online dashboard maintained by LockBit developers for LockBit’s affiliates and hosted by those developers on the dark web.

    The superseding complaint also alleges that Panev exchanged direct messages through a cybercriminal forum with LockBit’s primary administrator, who, in an indictment unsealed in the District of New Jersey in May, the United States alleged to be Dimitry Yuryevich Khoroshev (Дмитрий Юрьевич Хорошев), also known as LockBitSupp, LockBit, and putinkrab. In those messages, Panev and the LockBit primary administrator discussed work that needed to be done on the LockBit builder and control panel.

    Court documents further indicate that, between June 2022 and February 2024, the primary LockBit administrator made a series of transfers of cryptocurrency, laundered through one or more illicit cryptocurrency mixing services, of approximately $10,000 per month to a cryptocurrency wallet owned by Panev. Those transfers amounted to over $230,000 during that period.

    In interviews with Israeli authorities following his arrest in August, Panev admitted to having performed coding, development, and consulting work for the LockBit group and to having received regular payments in cryptocurrency for that work, consistent with the transfers identified by U.S. authorities. Among the work that Panev admitted to having completed for the LockBit group was the development of code to disable antivirus software; to deploy malware to multiple computers connected to a victim network; and to print the LockBit ransom note to all printers connected to a victim network. Panev also admitted to having written and maintained LockBit malware code and to having provided technical guidance to the LockBit group.

    The LockBit Investigation

    The superseding complaint against, and apprehension of, Panev follows a disruption of LockBit ransomware in February by the United Kingdom (U.K.)’s National Crime Agency (NCA)’s Cyber Division, which worked in cooperation with the Justice Department, FBI, and other international law enforcement partners. As previously announced by the Department, authorities disrupted LockBit by seizing numerous public-facing websites used by LockBit to connect to the organization’s infrastructure and by seizing control of servers used by LockBit administrators, thereby disrupting the ability of LockBit actors to attack and encrypt networks and extort victims by threatening to publish stolen data. That disruption succeeded in greatly diminishing LockBit’s reputation and its ability to attack further victims, as alleged by documents filed in this case.

    The superseding complaint against Panev also follows charges brought in the District of New Jersey against other LockBit members, including its alleged primary creator, developer, and administrator, Dmitry Yuryevich Khoroshev. An indictment against Khoroshev unsealed in May alleges that Khoroshev began developing LockBit as early as September 2019, continued acting as the group’s administrator through 2024, a role in which Khoroshev recruited new affiliate members, spoke for the group publicly under the alias “LockBitSupp,” and developed and maintained the infrastructure used by affiliates to deploy LockBit attacks. Khoroshev is currently the subject of a reward of up to $10 million through the U.S. Department of State’s Transnational Organized Crime (TOC) Rewards Program, with information accepted through the FBI tip website at www.tips.fbi.gov/.

    A total of seven LockBit members have now been charged in the District of New Jersey. Beyond Panev and Khoroshev, other previously charged LockBit defendants include:

    • In July, two LockBit affiliate members, Mikhail Vasiliev, also known as Ghostrider, Free, Digitalocean90, Digitalocean99, Digitalwaters99, and Newwave110, and Ruslan Astamirov, also known as BETTERPAY, offtitan, and Eastfarmer, pleaded guilty in the District of New Jersey for their participation in the LockBit ransomware group and admitted deploying multiple LockBit attacks against U.S. and foreign victims. Vasiliev and Astamirov are presently in custody awaiting sentencing.
    • In February, in parallel with the disruption operation described above, an indictment was unsealed in the District of New Jersey charging Russian nationals Artur Sungatov and Ivan Kondratyev, also known as Bassterlord, with deploying LockBit against numerous victims throughout the United States, including businesses nationwide in the manufacturing and other industries, as well as victims around the world in the semiconductor and other industries. Sungatov and Kondratyev remain at large.
    • In May 2023, two indictments were unsealed in Washington, D.C., and the District of New Jersey charging Mikhail Matveev, also known as Wazawaka, m1x, Boriselcin, and Uhodiransomwar, with using different ransomware variants, including LockBit, to attack numerous victims throughout the United States, including the Washington, D.C., Metropolitan Police Department. Matveev remains at large and is currently the subject of a reward of up to $10 million through the U.S. Department of State’s TOC Rewards Program, with information accepted through the FBI tip website at www.tips.fbi.gov/.

    The U.S. Department of State’s TOC Rewards Program is offering rewards of:

    Information is accepted through the FBI tip website at tips.fbi.gov.

    Khoroshev, Matveev, Sungatov, and Kondratyev have also been designated for sanctions by the Department of the Treasury’s Office of Foreign Assets Control for their roles in launching cyberattacks.

    Victim Assistance

    LockBit victims are encouraged to contact the FBI and submit information at www.ic3.gov/. As announced by the Department in February, law enforcement, through its disruption efforts, has developed decryption capabilities that may enable hundreds of victims around the world to restore systems encrypted using the LockBit ransomware variant. Submitting information at the IC3 site will enable law enforcement to determine whether affected systems can be successfully decrypted.

    LockBit victims are also encouraged to visit www.justice.gov/usao-nj/lockbit for case updates and information regarding their rights under U.S. law, including the right to submit victim impact statements and request restitution, in the criminal litigation against Panev, Astamirov, and Vasiliev.

    The FBI Newark Field Office, under the supervision of Acting Special Agent in Charge Nelson I. Delgado, is investigating the LockBit ransomware variant. Israel’s Office of the State Attorney, Department of International Affairs, and Israel National Police; France’s Gendarmerie Nationale Cyberspace Command, Paris Prosecution Office — Cyber Division, and judicial authorities at the Tribunal Judiciare of Paris; Europol; Eurojust; the U.K.’s NCA; Germany’s Landeskriminalamt Schleswig-Holstein, Bundeskriminalamt, and the Central Cybercrime Department North Rhine-Westphalia; Switzerland’s Federal Office of Justice, Public Prosecutor’s Office of the Canton of Zurich, and Zurich Cantonal Police; Spain’s Policia Nacional and Guardia Civil; Japan’s National Police Agency; Australian Federal Police; Sweden’s Polismyndighetens; Canada’s Royal Canadian Mounted Police; Politie Dienst Regionale Recherche Oost-Brabant of the Netherlands; and Finland’s National Bureau of Investigation have provided significant assistance and coordination in these matters and in the LockBit investigation generally.

    Trial Attorneys Debra Ireland and Jorge Gonzalez of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Andrew M. Trombly, David E. Malagold, and Vinay Limbachia for the District of New Jersey are prosecuting the charges against Panev and the other previously charged LockBit defendants in the District of New Jersey.

    The Justice Department’s Cybercrime Liaison Prosecutor to Eurojust, Office of International Affairs, and National Security Division also provided significant assistance.

    Additional details on protecting networks against LockBit ransomware are available at StopRansomware.gov. These include Cybersecurity and Infrastructure Security Agency Advisories AA23-325A, AA23-165A, and AA23-075A. 

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI Canada: Joint statement from Premier Ranj Pillai and Minister Sandy Silver on Canada’s 2024 Fall Economic Statement

    Source: Government of Canada regional news

    Joint statement from Premier Ranj Pillai and Minister Sandy Silver on Canada’s 2024 Fall Economic Statement
    zaburke

    Premier Ranj Pillai and Minister of Finance Sandy Silver have issued the following joint statement:

    “This week, federal House Leader Karina Gould delivered an update on how Canada’s finances and economy are doing along with measures to address critical issues for Canadians in the 2024 Fall Economic Statement. Many of these issues are keenly felt in the Yukon and our government is pleased to see the statement recognizes the importance of reducing everyday costs, fostering innovation, adjusting to the current realities of global trade and promoting investment.

    “We are happy to see that the Government of Canada has responded to repeated requests from our government by including a proposal to amend the Yukon Environmental and Socio-Economic Assessment Act in the Fall Economic Statement. The proposed amendment would allow certain projects, identified with consent from affected Yukon First Nations, to be exempt from re-assessments. Such a change will help combine a strong regulatory framework that protects the Yukon environment with one that eases the way for investment. We look forward to this legislative change creating a more efficient assessment process and are happy to see them move forward after several years of advocacy from our government and support from First Nations governments.

    “Canada’s Premiers have been continually asking for bail reform, so it is heartening to see that the statement commits to amending the Criminal Code to specifically address the bail system. The federal government has also put forward $1.3 billion in new funding towards a comprehensive border security package and we await more details on what this package will look like. This announcement promises to strengthen Canada-U.S. relations and could help curb the flow of fentanyl into the Yukon. 

    “Meeting housing needs is another major area that our government is working with the Government of Canada to address and is crucial to making life in the Yukon more affordable. The statement includes programs that lay the groundwork for putting housing within reach of more Canadians through the Affordable Housing Fund and Canada is also extending the Federal Community Housing Initiative to include residents of non-profit and co-op housing. Our government will examine how these programs will work within the Yukon to increase our housing supply or improve access to existing housing stock. Our government will also make sure that Yukoners can take advantage of the Canada Greener Homes Affordability Program mentioned in this statement, which will fund retrofits to make homes more energy efficient.

    “We are ready to discuss the programs and initiatives mentioned in the Fall Economic Statement with the Government of Canada and find ways to ensure these measures bring the most benefits to Yukoners, as well as laying out our priorities for the territory for the future.”
     

    Media contact

    Laura Seeley
    Cabinet Communications
    867-332-7627
    laura.seeley@yukon.ca 
     

    News release #:
    Related information:
    Investing in Jobs and Growth (Government of Canada news release)
    2024 Fall Economic Statement

    MIL OSI Canada News –

  • MIL-OSI: 41/2024・Trifork Group AG announces agreement on partial divestment of a Trifork Labs portfolio company

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 41 / 2024
    Schindellegi, Switzerland – 20 December 2024

    Trifork announces agreement on partial divestment of a Trifork Labs portfolio company

    The shareholders of a portfolio company in Trifork Labs have today entered into an agreement to divest 30% of the existing shares to an equity fund investor. Trifork has participated pro-rata and will continue as a minority shareholder in the company.

    Financial impact of the partial sale for Trifork
    The undisclosed transaction valuation exceeds the book value of the company previously recorded in Trifork Labs and therefore has a material positive impact on both realized and unrealized gains recorded in Trifork Labs. The transaction will contribute with a financial gain of EURm 9.6 in Q4 2024. More information about the transaction and its impact on Trifork Group will be shared in the Annual Report 2024.

    Comment from Jørn Larsen, CEO of Trifork Group
    “I am happy to see that Trifork Labs continues to build on its outstanding investment track record in disruptive technology innovators early in their entrepreneurial journeys. Trifork Labs has historically contributed to funding the Group’s investments in organic growth and acquisitions. Looking at our existing portfolio, we are confident that more success stories will emerge in the future, ensuring strong value creation for Trifork Group’s shareholders over time.”

    Contact
    Frederik Svanholm, Group Investment Director & Head of IR
    frsv@trifork.com, +41 79 357 7317

    About Trifork Group  
    Trifork is a pioneering global technology partner that empowers enterprise and public sector customers with innovative solutions. With 1,278 professionals across 76 business units in 15 countries, Trifork delivers expertise in inspiring, building, and running advanced software solutions across diverse sectors, including public administration, healthcare, manufacturing, logistics, energy, financial services, retail, and real estate. Trifork Group AG is a publicly listed company on Nasdaq Copenhagen. Learn more at trifork.com.

    About Trifork Labs
    Trifork Labs leads the venture-financed R&D activities of the Trifork Group. Trifork Labs has been active in founding, co-founding, and investing in innovative B2B software companies for more than 20 years. Today, the portfolio consists of 25 companies from around the world. Previous successful exits include global successes such as Chainalysis, Tradeshift, and Humio. By centering innovation efforts around companies founded either by Trifork’s own employees or externally by customers, partners, or entrepreneurs, the Group learns about new technologies and new possibilities of software while providing portfolio companies access to Trifork’s technical support, commercial experience, global customer base, investor network, and capital. Learn more at labs.trifork.com.

    Attachment

    The MIL Network –

  • MIL-OSI Security: U.S. Charges Dual Russian And Israeli National As Developer Of Lockbit Ransomware Group

    Source: Office of United States Attorneys

    Defendant Rostislav Panev in Custody Pending Extradition from Israel to the United States

    NEWARK, N.J. – A superseding criminal complaint filed in the District of New Jersey was unsealed today charging a dual Russian and Israeli national for being a developer of the LockBit ransomware group, U.S. Attorney Philip R. Sellinger announced.

    In August, Rostislav Panev, 51, a dual Russian and Israeli national, was arrested in Israel pursuant to a U.S. provisional arrest request with a view towards extradition to the United States. Panev is currently in custody in Israel pending extradition on the charges lodged in the superseding complaint.

    “As alleged by the complaint, Rostislav Panev for years built and maintained the digital weapons that enabled his LockBit coconspirators to wreak havoc and cause billions of dollars in damage around the world. But just like the six other LockBit members previously identified and charged by this office and our FBI and Criminal Division partners, Panev could not remain anonymous and avoid justice indefinitely. He must now answer for his crimes. Today’s announcement represents another blow struck by the United States and our international partners against the LockBit organization, and our efforts will continue relentlessly until the group is fully dismantled and its members brought to justice.”

    U.S. Attorney Philip R. Sellinger

    “The Justice Department’s work going after the world’s most dangerous ransomware schemes includes not only dismantling networks, but also finding and bringing to justice the individuals responsible for building and running them,” said Attorney General Merrick B. Garland. “Three of the individuals who we allege are responsible for LockBit’s cyberattacks against thousands of victims are now in custody, and we will continue to work alongside our partners to hold accountable all those who lead and enable ransomware attacks.”

    “The arrest of Mr. Panev reflects the Department’s commitment to using all its tools to combat the ransomware threat,” said Deputy Attorney General Lisa Monaco. “We started this year with a coordinated international disruption of LockBit — the most damaging ransomware group in the world. Fast forward to today and three LockBit actors are in custody thanks to the diligence of our investigators and our strong partnerships around the world. This case is a model for ransomware investigations in the years to come.”

    “The arrest of alleged developer Rostislav Panev is part of the FBI’s ongoing efforts to disrupt and dismantle the LockBit ransomware group, one of the most prolific ransomware variants across the globe,” said FBI Director Christopher Wray. “The LockBit group has targeted both public and private sector victims around the world, including schools, hospitals, and critical infrastructure, as well as small businesses and multi-national corporations. No matter how hidden or advanced the threat, the FBI remains committed to working with our interagency partners to safeguard the cyber ecosystem and hold accountable those who are responsible for these criminal activities.”

    “The criminal complaint alleges that Rotislav Panev developed malware and maintained the infrastructure for LockBit, which was once the world’s most destructive ransomware group and attacked thousands of victims, causing billions of dollars in damage,” said Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division. “Along with our domestic and international law enforcement partner actions to dismantle LockBit’s infrastructure, the Criminal Division has disrupted LockBit’s operations by charging seven of its key members (including affiliates, developers, and its administrator) and arresting three of these defendants — including Panev. We are especially grateful for our partnerships with authorities in Europol, the United Kingdom, France, and Israel, which show that, when likeminded countries work together, cybercriminals will find it harder to escape justice.”

    “For five years, Panev helped to grow LockBit into a ransomware machine of deception and extortion,” said Acting Special Agent in Charge Nelson I. Delgado of the FBI Newark Field Office.  “His reach was far and wide but FBI Newark and our international law enforcement partners were able to disrupt his reign. Panev’s arrest marks a victory against these conspirators, and is a step towards upholding justice and neutralizing these criminals.”

    According to the superseding complaint, documents filed in this and related cases, and statements made in court, Panev acted as a developer of the LockBit ransomware group from its inception in or around 2019 through at least February 2024. During that time, Panev and his LockBit coconspirators grew LockBit into what was, at times, the most active and destructive ransomware group in the world. The LockBit group attacked more than 2,500 victims in at least 120 countries around the world, including 1,800 in the United States. Their victims ranged from individuals and small businesses to multinational corporations, including hospitals, schools, nonprofit organizations, critical infrastructure, and government and law-enforcement agencies. LockBit’s members extracted at least $500 million in ransom payments from their victims and caused billions of dollars in other losses, including lost revenue and costs from incident response and recovery.

    LockBit’s members comprised “developers,” like Panev, who designed the LockBit malware code and maintained the infrastructure on which LockBit operated. LockBit’s other members, called “affiliates,” carried out LockBit attacks and extorted ransom payments from LockBit victims. LockBit’s developers and affiliates would then split ransom payments extorted from victims.

    As alleged in the superseding complaint, at the time of Panev’s arrest in Israel in August, law enforcement discovered on Panev’s computer administrator credentials for an online repository that was hosted on the dark web and stored source code for multiple versions of the LockBit builder, which allowed LockBit’s affiliates to generate custom builds of the LockBit ransomware malware for particular victims. On that repository, law enforcement also discovered source code for LockBit’s StealBit tool, which helped LockBit affiliates exfiltrate data stolen through LockBit attacks. Law enforcement also discovered access credentials for the LockBit control panel, an online dashboard maintained by LockBit developers for LockBit’s affiliates and hosted by those developers on the dark web.

    The superseding complaint also alleges that Panev exchanged direct messages through a cybercriminal forum with LockBit’s primary administrator, who, in an indictment unsealed in the District of New Jersey in May, the United States alleged to be Dimitry Yuryevich Khoroshev (Дмитрий Юрьевич Хорошев), also known as LockBitSupp, LockBit, and putinkrab. In those messages, Panev and the LockBit primary administrator discussed work that needed to be done on the LockBit builder and control panel.

    Court documents further indicate that, between June 2022 and February 2024, the primary LockBit administrator made a series of transfers of cryptocurrency, laundered through one or more illicit cryptocurrency mixing services, of approximately $10,000 per month to a cryptocurrency wallet owned by Panev. Those transfers amounted to over $230,000 during that period.

    In interviews with Israeli authorities following his arrest in August, Panev admitted to having performed coding, development, and consulting work for the LockBit group and to having received regular payments in cryptocurrency for that work, consistent with the transfers identified by U.S. authorities. Among the work that Panev admitted to having completed for the LockBit group was the development of code to disable antivirus software; to deploy malware to multiple computers connected to a victim network; and to print the LockBit ransom note to all printers connected to a victim network. Panev also admitted to having written and maintained LockBit malware code and to having provided technical guidance to the LockBit group.

    The LockBit Investigation

    The superseding complaint against, and apprehension of, Panev follows a disruption of LockBit ransomware in February by the U.K. National Crime Agency (NCA)’s Cyber Division, which worked in cooperation with the Justice Department, FBI, and other international law enforcement partners. As previously announced by the Department, authorities disrupted LockBit by seizing numerous public-facing websites used by LockBit to connect to the organization’s infrastructure and by seizing control of servers used by LockBit administrators, thereby disrupting the ability of LockBit actors to attack and encrypt networks and extort victims by threatening to publish stolen data. That disruption succeeded in greatly diminishing LockBit’s reputation and its ability to attack further victims, as alleged by documents filed in this case.

    The superseding complaint against Panev also follows charges brought in the District of New Jersey against other LockBit members, including its alleged primary creator, developer, and administrator, Dmitry Yuryevich Khoroshev. An indictment against Khoroshev unsealed in May alleges that Khoroshev began developing LockBit as early as September 2019, continued acting as the group’s administrator through 2024, a role in which Khoroshev recruited new affiliate members, spoke for the group publicly under the alias “LockBitSupp,” and developed and maintained the infrastructure used by affiliates to deploy LockBit attacks. Khoroshev is currently the subject of a reward of up to $10 million through the U.S. Department of State’s Transnational Organized Crime (TOC) Rewards Program, with information accepted through the FBI tip website at www.tips.fbi.gov/.

    A total of seven LockBit members have now been charged in the District of New Jersey. Beyond Panev and Khoroshev, other previously charged LockBit defendants include:

    • In July, two LockBit affiliate members, Mikhail Vasiliev, also known as Ghostrider, Free, Digitalocean90, Digitalocean99, Digitalwaters99, and Newwave110, and Ruslan Astamirov, also known as BETTERPAY, offtitan, and Eastfarmer, pleaded guilty in the District of New Jersey for their participation in the LockBit ransomware group and admitted deploying multiple LockBit attacks against U.S. and foreign victims. Vasiliev and Astamirov are presently in custody awaiting sentencing.
    • In February, in parallel with the disruption operation described above, an indictment was unsealed in the District of New Jersey charging Russian nationals Artur Sungatov and Ivan Kondratyev, also known as Bassterlord, with deploying LockBit against numerous victims throughout the United States, including businesses nationwide in the manufacturing and other industries, as well as victims around the world in the semiconductor and other industries. Sungatov and Kondratyev remain at large.
    • In May 2023, two indictments were unsealed in Washington, D.C., and the District of New Jersey charging Mikhail Matveev, also known as Wazawaka, m1x, Boriselcin, and Uhodiransomwar, with using different ransomware variants, including LockBit, to attack numerous victims throughout the United States, including the Washington, D.C., Metropolitan Police Department. Matveev remains at large and is currently the subject of a reward of up to $10 million through the U.S. Department of State’s TOC Rewards Program, with information accepted through the FBI tip website at www.tips.fbi.gov/.

    The U.S. Department of State’s Transnational Organized Crime (TOC) Rewards Program is offering rewards of:

    Information is accepted through the FBI tip website at tips.fbi.gov.

    Khoroshev, Matveev, Sungatov, and Kondratyev have also been designated for sanctions by the Department of the Treasury’s Office of Foreign Assets Control for their roles in launching cyberattacks.

    Victim Assistance

    LockBit victims are encouraged to contact the FBI and submit information at www.ic3.gov. As announced by the Department in February, law enforcement, through its disruption efforts, has developed decryption capabilities that may enable hundreds of victims around the world to restore systems encrypted using the LockBit ransomware variant. Submitting information at the IC3 site will enable law enforcement to determine whether affected systems can be successfully decrypted.

    LockBit victims are also encouraged to visit www.justice.gov/usao-nj/lockbit for case updates and information regarding their rights under U.S. law, including the right to submit victim impact statements and request restitution, in the criminal litigation against Panev, Astamirov, and Vasiliev.

    The FBI Newark Field Office, under the supervision of Acting Special Agent in Charge Nelson I. Delgado, is investigating the LockBit ransomware variant. Israel’s Office of the State Attorney, Department of International Affairs, and Israel National Police; France’s Gendarmerie Nationale Cyberspace Command, Paris Prosecution Office — Cyber Division, and judicial authorities at the Tribunal Judiciare of Paris; Europol; Eurojust; the United Kingdom’s National Crime Agency; Germany’s Landeskriminalamt Schleswig-Holstein, Bundeskriminalamt, and the Central Cybercrime Department North Rhine-Westphalia; Switzerland’s Federal Office of Justice, Public Prosecutor’s Office of the Canton of Zurich, and Zurich Cantonal Police; Spain’s Policia Nacional and Guardia Civil; Japan’s National Police Agency; Australian Federal Police; Sweden’s Polismyndighetens; Canada’s Royal Canadian Mounted Police; Politie Dienst Regionale Recherche Oost-Brabant of the Netherlands; and Finland’s National Bureau of Investigation have provided significant assistance and coordination in these matters and in the LockBit investigation generally.

    Assistant U.S. Attorneys Andrew M. Trombly, David E. Malagold, and Vinay Limbachia for the District of New Jersey and Trial Attorneys Debra Ireland and Jorge Gonzalez of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) are prosecuting the charges against Panev and the other previously charged LockBit defendants in the District of New Jersey.

    The Justice Department’s Cybercrime Liaison Prosecutor to Eurojust, Office of International Affairs, and National Security Division also provided significant assistance.

    Additional details on protecting networks against LockBit ransomware are available at StopRansomware.gov. These include Cybersecurity and Infrastructure Security Agency Advisories AA23-325A, AA23-165A, and AA23-075A. 

    The charges and allegations contained in the superseding complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

    Defense counsel: Frank Arleo, Esq.

    MIL Security OSI –

  • MIL-OSI Security: Louisville Man Sentenced to Over 11 Years in Federal Prison for Child Pornography Offenses

    Source: Office of United States Attorneys

    Louisville, KY – A Louisville man was sentenced today to 11 years and 7 months in federal prison for distributing and possessing child pornography.     

    U.S. Attorney Michael A. Bennett of the Western District of Kentucky, Kentucky Attorney General Russell Coleman, and Special Agent in Charge Robert Holman of the United States Secret Service made the announcement.

    “I commend the Secret Service and the Kentucky Attorney General’s Office for their continuing work and partnership in combatting child exploitation throughout the Commonwealth,” said U.S. Attorney Bennett. Federal and state cooperation is crucial to the successful prosecution of those who harm our most vulnerable citizens.”   

    “Kentucky’s kids will be safer with this predator behind bars,” said Kentucky Attorney General Russell Coleman. “I’m grateful for the zealous collaboration with our partners at the U.S. Secret Service and the U.S. Attorney’s Office to demonstrate once again the serious consequences for the exploitation of our children.”

    Douglas Huelsman, 45, was sentenced to 11 years and 7 months in federal prison, followed by 15 years of supervised release, for one count of distribution and one count of possession of child pornography. According to court documents, Huelsman used an online messaging application to distribute and receive images and videos of child sexual abuse material.

    Huelsman was also ordered to pay $36,000 in restitution to multiple victims in the case.

    There is no parole in the federal system.

    This case was investigated by the Kentucky Office of the Attorney General’s Department of Criminal Investigations and the United States Secret Service.

    Assistant U.S. Attorney Stephanie M. Zimdahl prosecuted the case.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.usdoj.gov/psc. For more information about internet safety education, please visit www.usdoj.gov/psc and click on the tab “resources.”

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    MIL Security OSI –

  • MIL-OSI USA: SEC Files Settled Charges Against Multiple Entities for Failing to Timely File Forms D in Connection With Securities Offerings

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced charges against two private companies and one registered investment adviser for failing to timely file Forms D for several unregistered securities offerings in violation of Rule 503 of Regulation D. The parties charged are:

    • GRID 202 LLC, a registered investment adviser which does business as Re-Envision Wealth;
    • Pipe Technologies Inc., a privately held financial technology company; and
    • Underdog Sports Holdings, Inc., a privately held corporation that operates an online fantasy sports website and mobile app.

    All offers and sales of securities must either be registered under the Securities Act or fall within an exemption from registration. Regulation D contains certain offering exemptions and a safe harbor from the Securities Act’s registration requirements. To protect investors and safeguard markets, an issuer offering or selling securities in reliance on one of those exemptions or the safe harbor is required to file a Form D within 15 days after the first sale of securities in the offering.

    An issuer’s failure to follow the requirements to file a Form D (or amend its existing Form D filing) impedes the Commission’s ability to fully assess the scope of the Regulation D market, which is key to the Commission’s understanding of whether Regulation D is appropriately balancing the need for investor protection on one hand and the furtherance of capital formation on the other, particularly as it relates to small businesses. It also harms the Commission’s ability to monitor and enforce compliance with the requirements of Regulation D and the ability of state securities regulators and self-regulatory organizations to monitor and enforce other securities laws and rules. In addition, it hampers the ability of investors and other market participants to understand whether companies are complying with federal securities laws in their offerings, to research and analyze the Regulation D market, and to report on capital-raising in industries that use Regulation D.

    “Form D filings are crucial sources of information on private capital formation, and compliance with the requirement to make such filings in a timely manner is vital to the Commission’s efforts to promote investor protection while also facilitating capital formation, especially with respect to small businesses,” said Sanjay Wadhwa, Acting Director of the SEC’s Division of Enforcement. “Today’s orders find that the charged entities deprived the Commission and the marketplace of timely information concerning nearly $300 million of unregistered securities offerings.”

    Without admitting or denying the findings, Re-Envision Wealth, Pipe Technologies, and Underdog Sports Holdings agreed to cease and desist from violating the charged provisions and to pay the respective civil penalties of $60,000; $195,000; and $175,000.

    The SEC’s investigation was conducted by Alicia Guo, Karen M. Lee, and Adam S. Grace of the Enforcement Division’s New York Regional Office and Claire M. Tafelski and Lee A. Greenwood of the Enforcement Division’s Asset Management Unit, with assistance from Beth Groves and Howard Kaplan in the Enforcement Division’s Office of Investigative & Market Analytics, Rachita Gullapalli and Daniel Bresler in the Division of Economic and Risk Analysis and Gerard Sansobrino, Barry Simmons, Christopher Ruvolo, and David S. Eidelman of the Division of Examinations. The investigation was supervised by Sheldon L. Pollock of the New York Regional Office.

    MIL OSI USA News –

  • MIL-OSI: BitMart Research: BMX 2024 Annual Report

    Source: GlobeNewswire (MIL-OSI)

    Singapore, Dec. 20, 2024 (GLOBE NEWSWIRE) — Recently, BitMart released the BMX 2024 Annual Report.

    1. 2024 Crypto Market Review

    At the beginning of the year, capitalizing on the momentum generated by the previous year’s bull market, BTC achieved a peak price of $73,881 in March. Nevertheless, despite the occurrence of its halving event in April, the market did not transition into a sustained upward trajectory. Instead, it underwent a significant decline in June, resulting in an extended period of adjustment. The primary catalysts in the first half of the year included the approval of an ETF for both Bitcoin and Ethereum, as well as the halving event. While the introduction of the ETF attracted institutional investment and enhanced the recognition of cryptocurrency assets within traditional financial markets, the halving event, despite lacking immediate positive impacts, is anticipated to substantially increase the value of Bitcoin over the long term. The market correction observed in June was precipitated by numerous factors, including Japan’s interest rate hikes, developments surrounding the Mt. Gox compensation case, and the German government’s liquidation of crypto assets, which collectively heightened selling pressure and instigated market panic.

    In the latter half of the year, the cryptocurrency market experienced a resurgence of momentum. Expectations regarding interest rate cuts revitalized the market, while the election victory of Donald Trump contributed to a robust recovery, resulting in BTC prices exceeding the $100,000 threshold and reaching a new all-time high of $104,088. Consequently, the total market capitalization of cryptocurrencies and trading volumes witnessed significant increases. In this context, altcoins displayed strong performance, with substantial gains observed in SOL, ETH, XRP, and ADA across various sectors. Trump’s proposed policies — characterized by the easing of regulations, the establishment of national reserves, and the support of mining enterprises — emerged as central themes for market recalibration. This highlights the positive influence of clear regulatory frameworks in enhancing User confidence and fostering growth within the industry.

    In contrast to previous years, the participation of institutional users has begun to significantly reshape market dynamics. Bitcoin’s dominance has continued to strengthen, while Ethereum has encountered challenges to its previously monopolistic position due to competition from emerging blockchain technologies and its constrained value capture capabilities. Concurrently, the decline in the popularity of altcoins has facilitated the emergence of the MEME sector as a new focal point within the market. These developments indicate a discernible trend toward diversification within the cryptocurrency industry.

    2. BMX Market Performance

    Figure 1: Annual Changes in Exchange Platform Tokens’ Prices and Market Capitalizations

    (Data Source：CMC、CG)

     According to data from CoinMarketCap and CoinGecko, the prices and market capitalizations of platform tokens from major exchanges have exhibited an upward trajectory over the past year, although notable variations in performance have been observed. BMX experienced a price escalation of 57.9% accompanied by a market capitalization increase of 56.8%, culminating in a total market capitalization of $262 million, indicative of consistent growth. Generally, lower-market-cap tokens have experienced substantial benefits due to their smaller baselines, resulting in rapid growth. In contrast, higher-market-cap tokens have demonstrated stable growth, reflecting resilience albeit with comparatively slower rates of increase.

    It is worth noting that Trump’s presidency may lead to clearer crypto market regulations, potentially reshaping the global cryptocurrency landscape. This development could significantly impact the future of the crypto industry. The resignation of SEC Chairman Gary Gensler further signals a turning point for crypto enterprises previously targeted by SEC lawsuits. Centralized exchanges, long under SEC scrutiny, are likely to benefit substantially from this leadership change, potentially achieving significant progress in regulatory compliance.

     Figure 2: Comparison of Exchange Spot Average Daily Trading Volume and Circulating Market Capitalization Over the Past Year

    (Data Source：CMC、CG)

     According to data from CoinGecko, the circulating market capitalization of BMX currently amounts to $262 million, a figure that is significantly lower than that of other exchange platform tokens. However, BitMart has demonstrated an average daily spot trading volume of $803 million over the past year. A comparison of BMX’s market capitalization with BitMart’s daily trading volume reveals that the exchange’s trading activity exceeds the valuation of its platform token. Furthermore, both the market capitalization and price of BMX have experienced considerable growth over the last year. This trend indicates that, despite its relatively modest market capitalization, BMX is undergoing heightened market activity and demand, as the broader market gradually starts to acknowledge its potential value.

     3. BMX Burn Progress

    Figure 3: BMX Burn Progress Table

    In accordance with the repurchase mechanism detailed in the BMX whitepaper, BitMart executed the repurchase of approximately 5,672,978 BMX tokens in the year 2024, amounting to a total value of approximately $2,034,343. This series of repurchase initiatives underscores BitMart’s ongoing commitment and confidence in its platform token, BMX. By allocating a portion of its revenue generated from transaction fees towards these repurchases, BitMart has effectively decreased the circulating supply of BMX in the market, thereby contributing to its stability and scarcity.

     4. New Features and Activities for BMX in 2024

    Figure 4: New BMX Features in 2024

    In 2024, BMX introduced a series of new features that substantially enhanced its value and liquidity. The implementation of a staking feature enables users to obtain stable annual returns without facing any entry barriers, thereby attracting a larger number of long-term participants. Additionally, the small asset conversion feature addresses the issue of “dust” balances in user accounts, improving the utility of minor assets while expanding the practical use cases for BMX. Users can also benefit from transaction fee discounts and engage in various platform activities. Furthermore, the establishment of a P2P trading market has rendered BMX trading more adaptable, allowing users to conduct transactions using diverse payment methods, which, in turn, increases the liquidity and market demand for BMX. The listing of BMX on KuCoin signifies an important step in its expansion within the global market, drawing greater interest from users. Additionally, the introduction of the BMX Flash Sale feature has further elevated the exclusive benefits available to holders.

    The introduction of the stake-to-list feature has empowered BMX holders to make independent decisions regarding the listing of projects on BitMart, while also benefiting from shared transaction fees and additional advantages. This initiative fosters a sense of collective ownership, enhances decision-making authority, and provides users with control, growth opportunities, and shared responsibilities within the BitMart community.

    The recent enhancements to the BMX platform have significantly broadened its range of applications, offering users an increased array of opportunities for investment returns and active participation. With functionalities including staking, conversion, peer-to-peer trading, IEO, and stake-to-list mechanisms, the diverse features of BMX have substantially elevated its market appeal and liquidity. These improvements have not only enriched the user experience but have also contributed to the platform’s growth and adoption within the cryptocurrency market.

    Figure 5: New BMX Activities in 2024

    In 2024, BMX implemented several strategic initiatives that significantly enhanced its market appeal and user engagement. These initiatives encompassed trading competitions, external collaborations, and community-building programs. The trading competitions incentivized a substantial influx of participants, thereby increasing the liquidity of BMX. External collaborations not only served to promote BMX but also elevated the visibility of related projects. The community-building program recognized and rewarded active members, while also providing essential traffic support. Collectively, these initiatives not only broadened the applications of BMX but also improved its liquidity and market influence. Through this program, BMX fostered user retention, attracted a greater number of dedicated users and community contributors, and bolstered its market activity and long-term growth potential.

    5. BMX Value Benefits

    – Higher Account Levels and Trading Fee Discounts: BMX holders are eligible for higher account levels and better trading fee rates. The more BMX a user holds, the greater the discount they receive.

    – Higher Copy Trading Profit Share: BMX holders qualify for a higher percentage of copy trading profit sharing.

    – Participation in Launchpad: BMX holders can participate in BitMart’s exclusive Launchpad and receive free airdrops of newly listed tokens.

    – VIP Membership Upgrade Criteria: BitMart offers a lifetime VIP membership plan, and holding BMX is one of the criteria for upgrading.

    – Stake-to-List: Users can stake BMX to support their favorite projects and earn rewards.

    – Participation in BitMart Products: Users can stake BMX to participate in various products offered by BitMart and earn higher interest rates.

    – Ecosystem Payment Token: BMX can be used as a payment token for projects within the BitMart ecosystem.

    – Holding Trading Rebate: Invite friends to hold and trade BMX to earn rebates.

    Risk Warning:

    Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results.

    The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. Investing involves risks, and the content should be approached with caution. BitMart does not provide any investment, legal or tax advice.

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.  

    The MIL Network –

  • MIL-OSI USA: Department of Corrections Facilities Senate Study Committee Adopts Final Committee Report

    Source: US State of Georgia

    ATLANTA (December 20, 2024) – On Friday, December 13, the Department of Corrections Facilities Senate Study Committee, chaired by Majority Whip Sen. Randy Robertson (R–Cataula), voted unanimously to adopt its final report during the committee’s concluding meeting. The committee, established through Senate Resolution 570, spent nearly four months exploring strategies to enhance the welfare of Department of Corrections employees and those in its custody.

    Sen. Robertson praised the committee’s efforts, stating: “This committee has heard an abundance of valuable testimony since August. Our committee’s recommendations aim to enhance safety, promote fairness and support the Department of Corrections officers and the inmates they care for around the clock. I am grateful to each committee member for their dedication to this important issue and to the Lieutenant Governor for his unwavering support of our work.”

    Sen Robertson continued, “I also want to thank the Georgia taxpayers who came to the Capitol to share their experiences and suggestions. These citizens fund our budget and trust us to spend their tax dollars on worthwhile projects that provide quality care to those in our custody. As a former law enforcement officer, the welfare of our corrections officers and the inmates they protect will always be of utmost importance to me.”

    The final report outlines findings and recommendations to guide Georgia’s approach to employee and inmate safety within the Georgia Department of Corrections. Key highlights include:

    1. Increasing mental health services available to incarcerated population and staff.
    2. Investing in correctional officer recruitment and retention.
    3. Asking the Georgia Department of Audits to review all contract renewals for the past five years to see if there is a pattern of runaway costs by any vendors.
    4. Implementing a pay study for all Georgia Department of Corrections employees.
    5. Convert all existing facilities and construct all new facilities to single-person, single-cell facilities.
    6. Advocating the federal government to allow state prisons to use cell phone and drone jamming technology.
    7. Leveraging public-private partnerships to expand the capacity of the Georgia Department of Corrections.
    8. Prioritizing the hardening of existing corrections facilities to ensure their longevity while ensuring upcoming facilities are built to modern standards of security.
    9. Ensuring wardens adhere to consistent policies across facilities to prevent cultural differences within corrections facilities.

    The full report is available on the Georgia General Assembly website here.

    # # # #

    Sen. Randy Robertson serves as Majority Whip of the Senate Majority Caucus. He represents Senate District 29, which includes Harris, Meriwether, and Troup Counties and a portion of Muscogee County. He can be reached at 404.656.0045 or at randy.robertson@senate.ga.gov

    MIL OSI USA News –

  • MIL-OSI Security: Port St. Lucie Firearms Dealer Pleads Guilty to Failing to Keep Proper Records of Sales

    Source: Office of United States Attorneys

    MIAMI – On Dec. 18, Michael John Pellicione, 76, the owner of a Port St. Lucie, Fla., gun shop, who operated out of his residence, pleaded guilty to the five-count indictment for selling several firearms “off the books” in violation of 18 U.S.C. § 922(b)(5), which penalizes the failure of a firearms dealer to keep a proper record of sales.

    Pellicione, a federal firearms licensee (FFL), failed to enter the sale of five firearms into his acquisition and disposition (A&D) record. Federal law requires an FFL to record, in the A&D book, all of the firearms that the FFL receives or makes, and then indicate where each of those firearms are – whether they are still in the FFL’s inventory or where they went if they were sold or transferred. Additionally, the A&D book must include the type of firearm, the make, model, caliber, and serial number, the date and from whom the firearm was received and that person’s address, as well as the name, date, and address of the person to whom the firearm was sold or transferred.

    A sentencing date has not yet been scheduled in this matter. At sentencing, Pellicione faces up to five years’ imprisonment. A federal district court judge will determine the sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Markenzy Lapointe, U. S. Attorney for the Southern District of Florida, Special Agent in Charge Anthony Salisbury of Homeland Security Investigations (HSI), Miami, and Special Agent in Charge Christopher A. Robinson of the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), Miami Field Division, made the announcement.

    HSI Fort Pierce and ATF Fort Pierce investigated this case. Managing Assistant U.S. Attorney Carmen Lineberger is prosecuting this matter.

    Related court documents and information may be found on the website of the District Court for the Southern District of Florida at http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov, under case number 24-cr-14055.

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    MIL Security OSI –