In-Depth Analysis | $B2: The "Supply Side" Dark Horse of the BTCFi Track, Why Has It Become a New Favorite for Institutions?

A friend's comment that "$B2 stands on the BTCFi supply side" instantly piqued my interest. After finishing the information, I found this project might be the most underrated infrastructure-level player in 2024—having miners, revenue, ecological ambitions, and even quietly accumulating a TVL of 500 million USD.

Why is $B2 worth focusing on?

1. Institutional Endorsement + Exchange Expectations

- Binance Alpha's "Clear Implication": The community is buzzing about the expectation of contract launches, and the project’s economic model reserves 10% for future exchange listings, showing clear strategic intent.

- VC's low-priced chips have been digested: 1U was the early institutional cost price; if spot trading lands, liquidity explosion could become a key catalyst.

2. True Captor of the "Miner Economy"

- Computing power as a moat: It has integrated top industry miner resources, with an on-chain pool renewal rate of only 0.01% (the lowest in the industry), forming a "low-cost - high stickiness - real yield" flywheel.

- Clear revenue model: Capturing the underlying value of BTC through computing power leasing and staking derivatives, not merely an inflation model.

3. Valuation Logic and Growth Potential

- Short-term anchor: 1U is a psychological support level, and the growth of TVL and ecological cooperation may drive value discovery.

- Mid-term breakout point: If TVL exceeds 1 billion USD + ecological tools (such as financialized computing power products) land, a 3-5x space can be expected.

Risks and Opportunities Coexist

- ✅ Advantages: Accumulation against the trend in a bear market, high supply-side barriers, concentrated institutional holdings.

- ⚠️ Risks: Need to pay attention to BTC computing power fluctuations, progress of competitors (such as Babylon), and exchange listing progress.

> DYOR Recommendations:

> - Monitor mining pool computing power growth (real-time data on the official website)

> - Track on-chain contract interaction volume (Dune Analytics)

> - Pay attention to Binance Alpha dynamics (clear signals)

The dark horse of a bull market often comes from those quietly building walls in a bear market. The supply side story of $B2 is just beginning.