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Naspers repurchased 911,265 shares during the same period at an average price of 814.2889 South African rand, totaling over 742 million rand (approximately 45 million US dollars).

On the news front, the company’s finances and operating fundamentals have shown substantial improvement, with AI-related business maintaining rapid growth: 50% growth in Q2 and 30% in Q3. The company holds $1.2 billion in cash reserves on its books. The 300mm wafer production line has achieved a breakthrough in mass production, reaching a key industry capacity milestone. Following the completion of debt restructuring, 70% of outstanding debt has been resolved, annual interest expenses have been reduced by 60%, some creditors have become corporate shareholders, and overall financial pressure has been significantly eased.

BlockBeats News, June 30, Wintermute released its latest market report stating that Bitcoin has fallen below $60,000, Ethereum is also weakening, and the crypto market has entered the late stage of a bear market, but the true cycle bottom may not have appeared yet. The report points out that the recent cooling off of AI trading has become the main theme in global markets, with the Nasdaq falling for five consecutive trading days and the Philadelphia Semiconductor Index plunging 7% in a single day. Funds are starting to rotate from large-cap tech stocks to small-cap stocks and US treasuries, while crypto assets are under pressure in tandem with tech stocks. Meanwhile, US May PCE inflation rose to 4.1%, reinforcing market expectations that the Federal Reserve will maintain high interest rates for an extended period, and the strengthening US dollar has further suppressed risk asset performance. Wintermute believes that current market sentiment has entered the extreme fear zone, with the Fear & Greed Index remaining between 18 and 24, and about half of Bitcoin's circulating supply is in a floating loss, both near levels characteristic of historic bear market bottoms. However, the report notes that what is truly lacking at this stage is a reinflow of capital. Spot ETFs have seen net outflows of about $1.8 billion recently, and stablecoin and other liquidity indicators have yet to show improvement. Regarding Strategy’s latest capital framework, Wintermute states that the company increased STRC dividends, started stock buybacks, and for the first time formally authorized the sale of up to approximately $1.25 billion in Bitcoin—steps that help reduce capital structure risk and thus received a positive market response. However, the report suggests that Bitcoin reserve companies starting to retain the right to sell BTC to pay dividends also means the market’s long-standing “permanent bid” is gradually shifting to a “conditional bid.” Wintermute expects that, due to historical seasonal factors, it is highly unlikely that the crypto market will establish a bottom during the summer, and is more likely to reach a true bottom around September to October. The subsequent trend will continue to depend on the macro environment, the cooling down of the AI sector, and the return of capital flows into the crypto market.