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SmashFi and Sazmining turned idle BTC into fixed, sustainable BTC yield.
SmashFi had run every version of Bitcoin yield — derivatives, lending, staking incentives — and watched each one break or thin out. Mezzamine routed its capital into Sazmining's mining operations through risk-adjusted structured credit, turning idle Bitcoin into a fixed 9% BTC yield, paid in kind.
The first facility's 2 BTC of financing became 57 PH/s of deployed hashrate and mined more than the loan principal within four months — yield paid from real block production, not token incentives.
Weekly yield more than doubles.
Settlement yield came in at 8.21 bps for the week, up 5.22 bps from the prior week, on volume of 16.9240 BTC across 111 trades. Annualized, the week prints 4.37% BTC APY against a trailing four-week rate of 7.65% BTC APY.
Solver flow reaches Solana.
The Solver protocol cleared its first Solana settlement of the trailing window — a cbBTC → cbBTC route out of Base — while BTC → WBTC extended its lead into Ethereum. The trailing four-week yield stands at 8.4% BTC APY.
SmashFi and Sazmining turned idle BTC into fixed, sustainable BTC yield.
Mezzamine connected SmashFi's capital to Sazmining's mining operations through risk-adjusted structured credit, turning idle Bitcoin into productive capital generating 9% annual BTC yield.
Both Mezzamine programs repay.
Both Mezzamine mining programs returned Bitcoin to investors over the week of July 6 – July 12, 2026, including Mezzamine Mining Loan II's first repayment since deployment. Solver settlement eased from the prior week's high, with the trailing four-week yield at 10.57% BTC APY.
BTC → cbBTC leads volume.
BTC → cbBTC became the week's most-traded pair at 32.5% of flow, as settled volume rose 165.4% to a trailing-8-week high. Net yield annualized to 16.49% BTC APY, above the trailing 10.31% BTC APY.
WBTC → BTC surges sevenfold.
Redemptions to native Bitcoin on WBTC → BTC surged 622.2% to lead the week's share gains, even as total flow normalized to 23.2818 BTC after the prior week's record. Net yield held near the trailing four-week 8.01% BTC APY.
Mining is very capital intensive — you need the machines, the hosting, the infrastructure in place before a customer produces any Bitcoin. Before, we were constrained by our own balance sheet. And in mining, timing matters.
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