'Eat Other Snake, Take Their Money': Slither.io Solana Clone Goes Viral

By: decrypt|2025/05/14 02:00:14

'Eat Other Snake, Take Their Money': Slither.io Solana Clone Goes Viral It's eat or be eaten in the crypto-fueled Noodle.gg, and players are earning Solana in the process—while an associated meme coin soars. In brief Noodle.gg is a crypto-fueled clone of popular browser game Slither.io. Players pay a Solana entry fee, and if you eat another player's snake, you take their SOL. An associated Solana meme coin, NOODLE, spiked in value as the game went viral. Decrypt’s Art, Fashion, and Entertainment Hub. Crypto degens have found a new game to gamble on, causing a Solana meme coin to surge to a market cap of nearly $20 million as a result. Noodle.gg is a crypto clone of popular free-to-play browser game Slither.io , where players control cartoonish snakes that grow larger with each enemy snake they consume. Noodle’s blockchain twist is that players pay an entry fee in Solana , and then when a player eats another player's snake, they also get their money. If you die, then you lose everything. “This should be fun. Eat other snake = take their money,” the game’s creator Alex Leiman wrote on X, formerly Twitter , followed by a Solana contract address. This post quickly went viral, hitting over a million views in less than a day. This should be fun. Eat other snake = take their money Live now. CA: 7cEgQdp8JTXvBrpjSzji7bLEeCHWENRwX62B2Ep97k5H pic.twitter.com/V22ORG2hYO — Alex Leiman (@alex_leiman) May 12, 2025 The Noodle ( NOODLE ) token has no current utility, effectively making it a meme coin with no underlying functionality. Despite this, or maybe because of this, NOODLE skyrocketed to a peak market cap of $19.43 million within 14 hours of its launch, as the snake game went viral. It has since settled at $14.4 million, according to DEX Screener . Leiman has hinted at the possibility of NOODLE becoming the token that is wagered in the game, rather than SOL itself. The game attracted 1,000 active accounts within two hours of its launch, according to Leiman, despite it only being available in 75% of U.S. states due to “ regulatory reasons .” Within its first day, the official Noodle X account said , the game had more than $75,000 worth of crypto flow through it. Online reactions were mixed. Some appeared to enjoy the opportunity to potentially earn money while playing an addictive game that reminds them of their childhood. Others, however, slated Leiman for simply copying Slither.io , rather than creating a unique game. “Most ‘innovating Web3’ products are just lazy Web2 clones with crypto slapped on,” pseudonymous X user Cremedupepe posted . “No originality, just copy-paste and buzzwords. Also, how the hell do you even cash out?” fuck trenching honestly https://t.co/UdeAbYpToy pic.twitter.com/p1wlj3UyF7 — Amanda (@solqueennn) May 12, 2025 To exit the game, players must hold down the Enter key for three seconds without dying. This takes you to a game over screen displaying your earnings for the game. It appears that players are then able to cash out by providing a Solana address and how much SOL they wish to withdraw. It is worth noting however, according to the terms of use , the platform reserves the right to restrict cash-outs. This includes time-based limitations, minimum play time requirements, or temporary holds at Noodle’s discretion. Plus, if Noodle catches a user cheating, then their entire balance will be forfeited. This isn’t the first crypto game to go viral due to its ability to generate money for its users. Last month, Abstract -based crypto mining simulation game Bigcoin caught the attention of degens. In this game, players bought in-game miners that earned them BIG tokens—inspired by how real-world Bitcoin miners work—which could be used to upgrade their in-game rigs to earn more BIG. It was a major, albeit short-lived success as its token grew to a $66 million market cap in three days—but then crashed 83%, according to DEX Screener . Industry observers labeled Bigcoin a “Ponzi game” that relied on new players flowing capital into the game. Rather than taking this as a warning to stop or seeing the tag as a derisive one, some hungry degens continued their search to find the next Ponzi game to gamble on . Tons of other non-Ponzi games have implemented crypto as a way to earn. Last year, the Telegram tap-to-earn wave amassed hundreds of millions of players that tapped away at their phone screens in the hopes of getting a valuable token airdrop . Most of the time, however, users complained about the size of their airdrops , and the craze faded after a few frenzied months . Edited by Andrew Hayward GG Newsletter

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

The US AI Startup Is Loving China's Open Source Model

80% of US AI Startups Are Using Chinese Open Source Models

Three Weeks of the US-Iran War: Who's Making Money, Who's Paying the Bill?

Global Losing 10 Million Barrels of Oil Each Day, Russia Earns Over $800 Million in Just Over Two Weeks

Interpreting Polymarket's Major Update Last Night: Fee Expansion, Self-Regulation, and New Incentives

Although there is no information about a token airdrop, the overall community sentiment is optimistic. The real good news is to rhythmically control the positive promotion.

From Human Application to Intelligent Collaboration: How GOAT Network Builds the Next Generation Digital Economy

Embracing the Era of Super Individuals: GOAT Network launches Bitcoin-secured Layer 2 exclusive infrastructure, fully empowering AI entities to usher in a new era of fully automated digital economy.

CZ Washington Dialogue: Crypto Entrepreneurs are Accelerating Their Return to the United States

CZ connects with the DC Blockchain Summit: The prison memoir is about to be published, harshly criticizing the inaccuracies of traditional media reports, and pointing out that if the U.S. wants to become the "global crypto capital," it urgently needs to introduce more sufficient market competition t...

Morning Report | Strategy increased its holdings by 1,031 bitcoins last week; Katana Blockchain acquires IDEX; NYSE completes rule change to eliminate trading limits on crypto ETF options

Overview of Important Market Events on March 23

Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns

From private credit to GPU leasing, from catastrophe bonds to music royalties, the range of tokenizable assets is much richer than the market perceives. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and the concentration of ri...

Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy

AI is not eliminating people, but rather the superstition of "stable careers": those who break the shackles of organizations and understand how to rewrite themselves are ushering in the ultimate revenge.

Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis

Trump Lies Again: A "Five-Day Pause" Psyop, How Wall Street, Bitcoin, and Polymarket Insiders Synced Uposciogen

Five days from now, the market will once again face Trump's "final deadline." Will this be the real endgame, or just another round of back-and-forth?

When a Token Becomes Labor, People Become the Interface

In 2023, having a Card is king. In 2026, having a Token is king.

Ceasefire News Leaked Ahead of Time? Large Polymarket Bets on Outcome Before Trump's Tweet

Minutes before Trump's market-moving social media post, S&P 500 futures and crude oil futures also saw abnormal trading volume.

BlackRock CEO's Annual Shareholder Letter: How is Wall Street Using AI to Keep Profiting from National Pension Funds?

AI is creating enormous wealth, but wealth distribution and risk exposure are replaying in a familiar pattern

Sun Valley Releases 2025 Financial Report: Bitcoin Mining Revenue Reaches $670 Million, Accelerating Transformation to AI Infrastructure Platform

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

Operating Costs and Expenses

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.