Introduction

HashStrategy is a pure play Bitcoin reserve protocol powered by mining. It acquires Bitcoin by directly investing in and operating Bitcoin mining infrastructure. Mining remains the most cost-efficient method to obtain Bitcoin.

A reserve structured around this approach is positioned to accumulate Bitcoin more effectively over time. All mined Bitcoin is continuously deposited into the protocol’s on-chain reserve, creating a growing, trustless treasury of BTC.

The protocol is governed and capitalized through $HS, its native token. Every $HS token is backed entirely by capital deployed into Bitcoin mining machines. The protocol is designed to scale in a way similar to MicroStrategy, with new tokens issued at discount to raise capital, and all proceeds are invested directly into mining infrastructures. There are no team allocations, ecosystem grants or any other interval reserved allocation. Even the core contributors acquire their tokens under the same terms and pricing as all other participants.

Ownership of $HS equates to collective governance and indirect ownership over:

• Deployed mining infrastructure

• The Protocol’s Bitcoin Reserve

• The right to receive BTC yield

• Future protocol growth and treasury strategy

HashStrategy is built as an ultra-transparent, institution-grade vehicle to accumulate Bitcoin through mining, accessible to anyone, anywhere.