An Optimized Approach to DATs
The Optimized Approach HashStrategy introduces a fundamentally improved model for building a strategic Bitcoin reserve: fully transparent, on-chain, and community-governed. Our approach enhances capital efficiency, minimizes risk, and maximizes long-term Bitcoin accumulation. Our optimized reserve model consists of six key improvements:
Bitcoin Mining as the Primary Accumulation Method Rather than acquiring Bitcoin through spot purchases, the protocol accumulates Bitcoin by owning and operating mining infrastructure. This method offers a lower average acquisition cost and greater capital efficiency over time.
Example:
With an investment of $10,000 and Bitcoin priced at $103,000, an investor purchasing BTC directly would acquire approximately 0.097BTC.
If the same capital is allocated to Bitcoin mining operations, the investor could deploy 8 S19XP mining machines. Over their expected operational lifespan, these machines would produce approximately 0.178BTC, representing 1.84 times the return compared to a direct spot purchase. This projection is based on realistic operating assumptions: a three year mining lifecycle, a 3.3% monthly decline in output, and a 50% net mining margin.
Tokenized Structure Instead of Corporate Equity The reserve is governed through a native token instead of traditional company shares. This makes the system simpler, more transparent, and easier to access. Token ownership is fully visible on the blockchain, and anyone around the world can participate using just a wallet. There are no legal barriers, account requirements, or regional restrictions, everything is open and permissionless.
Discounted Issuance Instead of Convertible Debt The protocol raises capital through direct token issuance rather than issuing debt instruments. This eliminates fixed repayment obligations and reduces balance sheet risk during market drawdowns.
Sustainable Bitcoin Yield for Token Holders A portion of the mining outputs is distributed as monthly yield to token holders. The remaining proceeds are retained in the Bitcoin reserve to strengthen long term value. This creates a balanced system, part of the rewards go to participants, while the rest for our long term accumulation goals. As hashrate grows, both the distributed yield and the reserve increase together.
Community Ownership Over Centralized Control All assets, including the mining infrastructure and the Bitcoin treasury, are fully governed by token holders. There are no special allocations, reserved tranches, or insider privileges. Every participant enters on equal terms. The community has full authority to propose and vote on key decisions, including whether to fund new opportunities or unwind the entire protocol if needed. Control stays in the hands of the network, not a central team.
Compounding Strategic Reserve Through Bitcoin-Native Strategies Beyond mining, the Bitcoin treasury is strategically deployed into additional Bitcoin-native yield opportunities such as liquidity provisioning, secured lending, or integrations with DeFi primitives to compound returns without leaving the Bitcoin ecosystem. This layered approach enhances capital efficiency by generating incremental yield on idle assets, allowing the reserve to grow faster than through mining alone. All strategies are governed transparently and executed on chain, ensuring yield is earned without off-chain risk.
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