Bitmain invests in BEVM to promote the development of Real World Assets (RWA) through computing power. RWA computing power is a form of off-chain computing power assets tokenized and issued on-chain to increase miners' asset utilization and income. BEVM, a BTC Layer2 project based on Taproot Consensus, plans to develop the RWA computing power ecosystem with Bitmain's investment and has launched a $10 million ecosystem support program to assist 10-20 RWA computing power startup teams. The introduction of this new type of asset is expected to change the traditional revenue model for miners, increase the market value of computing power assets, and promote the development of on-chain finance.

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As is well known in the crypto industry, every so often a new concept or term emerges that attracts the attention and pursuit of the community and capital. Recently, while browsing the news, I came across an intriguing new concept—computational power RWA, which has sparked considerable discussion in the community. This term first appeared in a news report, "The well-known Bitcoin Layer2 project BEVM announced that it will vigorously develop the computational power RWA ecosystem and launch a $10 million computational power RWA ecosystem support plan, focusing on supporting 10-20 computational power RWA startup teams." Gavin, the Core-Builder of the project, further stated that computational power RWA is not only a "storm track" that will stir up the Bitcoin network, but also the biggest commercial highlight of BEVM as a Layer2. It is reported that BEVM, built on the Taproot Consensus, has recently announced an investment from Bitmain, the world's largest Bitcoin computational power manufacturer, with a post-investment valuation of $200 million. So, what exactly is computational power RWA, what is its value, why has it attracted the attention of leading institutions, and why is BEVM heavily betting on computational power RWA? This article is provided by a third party and does not represent the views of Wu. What is computational power RWA? RWA (Real World Assets) refers to the mapping of traditional market assets onto the blockchain in the form of tokens for user trading. Boston Consulting predicts that by 2030, the tokenized asset market will reach $16 trillion, by then tokenized assets are expected to account for 10% of the global GDP. Computational power RWA essentially involves tokenizing off-chain computational assets and distributing them directly on-chain. In essence, well-known tokens such as USDT and USDC are RWAs of the US dollar / US bonds. Computational power RWA, by anchoring computational assets and issuing them on-chain, essentially becomes a valuable Token. Other DeFi protocols can then combine these computational power RWA assets, and miners can use these tools to trade and mortgage computational power RWA for lending and other operations. More importantly, since computational power RWA is issued directly on-chain, the mining profits generated by computational power RWA are also circulated directly on-chain. These directly circulating computational power assets are referred to as PoW Hashrate Assets, and there has been a deep disconnect between these PoW Hashrate Assets and on-chain finance for a long time. Miners, lacking sufficient experience and awareness of on-chain finance, have caused many high-quality computational assets to fail to enter on-chain finance, thus not realizing their potential value. For example, currently, the amount of BTC entering on-chain finance is about 210,000 (WBTC about 160,000, other Warp BTC about 50,000), which is only about 1% of its total amount. Other PoW computational assets like Litecoin, Dogecoin, ETC, etc., have an even smaller proportion entering on-chain finance. Miners have always been stuck in the "mine-extract-sell" single revenue model, a situation that urgently needs to change. According to data provided by Bitmain, the global computational power market size is about $20 billion/year (annual new BTC assets converted), specifically, leading Bitcoin has a market size of about $17.50 billion/year, Litecoin (Dogecoin) about $1 billion/year, emerging asset Kaspa about $450 million/year, veteran PoW project ETC about $150 million/year, and other PoW computational power market sizes about $200 million/year. Assuming that in the future, 20% of the computational power is distributed through computational power RWA, this means that the computational power RWA track will become a $4 billion/year market, plus various on-chain financial products, the overall market size is expected to break through $100 billion in the next 3-5 years. This market size not only provides miners with a new revenue model but also brings more DeFi narratives to the blockchain ecosystem. What can computational power RWA bring to the industry? Despite continuous advancements in blockchain technology and the emergence of new consensus mechanisms, the PoW consensus mechanism still occupies a significant place in the cryptocurrency field, and PoW is still the most recognized design in terms of decentralization. However, traditional PoW computational assets, although their design ensures that the assets are decentralized, lack support for smart contracts, making their development in application scenarios and financial tools relatively limited, and urgently need improvement. Therefore, the first step we need to take is to transform computational power into a native RWA product to be converted into on-chain PoW assets. The main logic of RWA-type products lies in the transfer of trust, first requiring a sufficiently endorsed entity to move real-world assets onto the blockchain, and secondly, a sufficiently secure decentralized environment to support the safe operation of assets after they are on-chain. For computational power RWA, Bitmain, with years of research and development strength and rich computational resources, is an excellent entity to endorse computational resources; on the other hand, BEVM, as a sufficiently decentralized Bitcoin Layer2, will also be an excellent platform to carry computational power RWA products. The second step, once these PoW assets are successfully converted into new computational assets with smart contract capabilities through the BEVM chain, they will also have better liquidity, which brings two major benefits. First, the miner community, in order to cope with changes in the Bitcoin market and maximize capital efficiency, usually borrows more funds by using BTC and other crypto assets or real-world mining machines as collateral, but this does not guarantee that there will always be lending institutions to support this debt financing. Once the computational power RWA products are deployed on BEVM, which has various DeFi scenarios, it means that miners can directly obtain liquidity through lending protocols and achieve leveraged trading through derivative protocols, solving the previous dilemma where miners might not find lenders, and actually improving the asset utilization rate of miners, and also allowing more individuals or organizations to participate in this link to enjoy the benefits brought by the miner financial market, not just individual institutions.At the same time, all of this is happening on-chain, ensuring the security and efficiency of the entire process, and it will bring about a new organization - the 'on-chain miner group'. They will move away from the simple 'mine-extract-sell' logic and embrace their DeFi moment. Additionally, thanks to BEVM's support for mature EVM solutions, BEVM can quickly provide mature DeFi products such as DEX, lending, stablecoins, and derivatives protocols for computing power RWA products, building a rich computing power financial ecosystem for the miner community. One major advantage of on-chain DeFi is the ability to freely combine and derive more products and additional profits. For example, miners can purchase computing power RWA assets at the same price as traditional computing power, enjoying mining profits while also gaining restaking profits from computing power RWA. As a public chain, BEVM also supports applications within the ecosystem, so miners can enjoy BEVM token airdrop incentives and Alpha gains from other DeFi protocol token airdrops during these DeFi interactions, allowing miners to achieve unprecedented multiple gains and further improve the operational returns of the mining farms. Therefore, BEVM's computing power RWA plan came into being, hoping to naturally combine computing power assets with on-chain finance, creating an ecosystem connecting miner computing power and on-chain finance. How does BEVM facilitate the development of computing power RWA? As the world's largest Bitcoin mining machine manufacturer, Bitmain's mining pool computing power was once the world's first, and Bitmain has absolute influence in the global miner community, making it easy to gain support from miners and computing power. BEVM is also one of the few investment projects of Bitmain in the BTC Layer2 track. Through computing power RWA, BEVM can introduce this stable income product model into BEVM's DeFi ecosystem, enhancing its vitality and sustainability. At the same time, computing power RWA can also bring positive cash flow products to BEVM community users, with users' profits directly settled on the BEVM chain, and a wealth of computing power DeFi protocols providing various financial services to community users, which will help build a real and effective BEVM community. Additionally, unlike the current popular development of Layer2, compared to using the mainnet token to incentivize TVL, computing power RWA and the assets produced by computing power are directly settled on the chain and accumulated TVL integrated by other DeFi protocols, which is a healthier and more sustainable growth method, rather than the 'stepping on one's own foot' strategy of issuing bonds (using token airdrops to provide high APR). BEVM, through computing power RWA, can unite a group of real, high-net-worth miner groups and product users, not only bringing healthy TVL growth to the BEVM chain but also vigorously developing the computing power RWA ecosystem to build unique ecological barriers. Therefore, BEVM proposed the positioning of 'creating a BTC Layer2 ecosystem characterized by computing power RWA', among many Layer2s, BEVM uses this gradual, resource-backed approach to gradually acquire real users, and the ecosystem based on PoW computing power assets is more sustainable and stable. Therefore, a $10 million computing power RWA ecosystem support plan was launched, supporting 10-20 computing power RWA projects to be built on BEVM, providing computing power resources, brand, ecological incentives, and other support. (Registration link) In addition, BEVM will also join active PoW coin communities to jointly promote the publicity and education of computing power RWA, bringing together several major PoW asset holder groups in the industry into a larger computing power RWA community, and BEVM will build a complete and rapidly developing computing power RWA ecosystem at the product, capital, community, and ecological support levels. Currently, the official BEVM TG community has opened a dedicated discussion channel for computing power RWA, those interested can enter: https://t.me/BEVMofficial Through the above analysis, we can see that the birth of computing power RWA is not a coincidence, it is a new asset issuance method and value transfer method developed to date in blockchain, so we can boldly predict that computing power RWA will not just be a concept and new track proposed by BEVM alone, it is bound to usher in an industry-wide explosion as Bitcoin reaches new highs. We have reason to believe that with the combined efforts of the industry's leading computing power, Bitmain, and Bitcoin Layer2 leader BEVM, a major transformation will come to the computing power industry itself. As a Bitcoin Layer2, BEVM has also chosen a seemingly difficult but correct path, but the author believes that 'the rose of time' will eventually bloom. As Joseph Schumpeter, the father of innovation economics, said, what entrepreneurs need to do is to recombine existing elements to create new products, technologies, and services. This is probably the best description and summary of computing power RWA.

Bitmain invests in BEVM to boost the development of computing power in the RWA ecosystem.