On August 15, Jin10 data reported that Joanne Hsu, director of the University of Michigan Consumer Survey, stated that the U.S. consumer confidence index fell by about 5% in August, marking the first decline in four months. This deterioration is largely due to escalating concerns over inflation. Due to high prices, the purchasing conditions for durable goods have dropped by 14%, reaching the lowest level in a year. Additionally, personal financial situations have slightly declined, reflecting heightened worries about purchasing power. In contrast, personal financial expectations have slightly increased, while income expectations have strengthened slightly, but income expectations remain sluggish. Overall, consumers are no longer preparing for the worst-case scenario after the announcement in April regarding the suspension of reciprocal tariffs. However, consumers still anticipate that inflation and unemployment rates will deteriorate in the future. Meanwhile, the inflation expectation for the coming year has risen from 4.5% last month to 4.9% this month. Long-term inflation expectations have also increased from 3.4% in July to 3.9% in August.

Odaily News Bit Digital, a Nasdaq-listed company, announced its Q2 2024 financial report showing total revenue of $25.7 million, a year-on-year decrease of 11.7%, primarily due to a reduction in Bitcoin mining revenue (down 58.8% year-on-year to $6.6 million), reasons include rising network difficulty, the Halving in April 2024, and a decline in active Computing Power. The company is shifting its focus to Ethereum treasury and staking strategies, earning approximately 166.8 ETH in staking rewards in Q2, with a staking scale of 21,568 ETH as of June 30, yielding an annualized effective return of 3.1%; as of August 11, the staking scale increased to 105,015 ETH. CEO Sam Tabar stated that the company's goal is to establish the largest on-chain E in the public market.

Gate News Bot news, on August 15, according to CoinMarketCap data, as of the time of this report, CHEX (Chintai) is currently priced at 0.18 USD, with a rise of 16.04% in the last 24 hours, reaching a high of 0.19 USD and a low of 0.09 USD. The current market capitalization is approximately 183 million USD, an increase of 25.3 million USD compared to yesterday. Chintai is an all-encompassing digital asset solution platform that provides services such as tokenization, market, compliance infrastructure, and blockchain as a service for enterprises. The platform is dedicated to helping businesses leverage the power of blockchain technology, offering customized solutions for companies of various sizes, including entrepreneurs, SMEs, and financial institutions. Chintai's services cover multiple aspects such as issuance, listing and trading, compliance, custody, as well as distribution and liquidity, aiming to promote the digital transformation of physical assets.

Jin10 data reported on August 15th, New Strong Union stated on the interactive platform on August 15th that the company's revenue rise in the second quarter is mainly attributed to the continued recovery of demand in the wind power industry and the steady release of customer orders. From the current industry development situation and the company's existing order status, the trend of wind power installation demand is optimistic.

Gate News Bot message, August 15, according to CoinMarketCap data, as of the time of writing, SOGNI (Sogni AI) is currently priced at 0.01 USD, having risen 121.92% in the last 24 hours, with a high of 0.01 USD and a low of 0.00 USD, and a 24-hour volume of 2.74 million USD. Sogni AI is a creative platform powered by the revolutionary decentralized Supernet. This platform is built on the collective contributions of real artists, creators, and visionaries, combining cutting-edge technology with the unique touch of human imagination. Whether you are using Sogni's tools to realize your vision or sharing your computing power to support others, Sogni is dedicated to celebrating individuality, fostering collaboration, and rewarding creativity. Important news about SOGNI recently: 1️⃣

Gate News Bot news, on August 15, according to CoinMarketCap data, as of the time of writing, PEPE (Pepe) is currently priced at $0.000011, with a 10.15% fall in the last 24 hours, reaching a high of $0.000013 and a low of $0.000011. The current market capitalization is approximately $4.644 billion, a decrease of $525 million from yesterday. Pepe is a meme coin themed around the internet-famous meme frog, Pepe. The project aims to revitalize the meme coin market through pure meme power. The PEPE token is issued with no presale, zero tax fees, locked liquidity pools, and a renounced contract ownership, claiming to be a token that belongs forever to the community. The total supply is 420.69 trillion. Important news about PEPE recently: 1️⃣ **Large Withdrawals Attract Market Attention**

Jin10 data reported on August 15, Lanke Technology announced the launch of the sixth-generation Jindai® performance core CPU today. This high-performance server processor, which integrates a groundbreaking architecture, full-stack compatibility, and chip-level security protection, aims to provide a powerful Computing Power engine for data centers, artificial intelligence, cloud computing, and critical industry infrastructure.

Canggu (CANG) announced that Bitcoin production will reach 650.5 coins in July 2025, a rise of 45% compared to June. The company has deployed the newly added 18 EH/s of Computing Power at the end of June, bringing the total Computing Power to 50 EH/s. The CEO stated that the team has strong execution ability, effectively converting Computing Power into Bitcoin reserves.

Musk praised Google's advantages in the field of artificial intelligence, believing that it leads in Computing Power and data, and is expected to become a leader. Google plans to increase capital expenditure by $10 billion to meet the demand for AI products and chips.

According to Jincai Finance, NBC News reported that five informed sources, including two European officials, revealed that during a call with European leaders on Wednesday local time, U.S. President Trump made it clear that the core goal of his meeting with Russian President Putin this week is to facilitate a ceasefire in Ukraine, rather than discuss territorial divisions. European officials present and two informants stated that a consensus was reached among the parties—that peace negotiations can only start after a ceasefire is achieved. Some European leaders sensed from the call that Trump has cautious expectations for the results of this meeting. However, the five informed sources emphasized that all leaders agreed on two core principles: Ukraine must be involved in the negotiations throughout, and the decision-making power regarding territorial concessions belongs exclusively to Ukraine. They revealed that allies unanimously believe that if Putin refuses a ceasefire, Trump may impose new sanctions on Russia.

On August 13, Jin10 reported that Jintian Co., Ltd. stated on the interactive platform that the company has a good customer base and technical reserves in the chip computing power field, and is also one of the earliest companies in the world to achieve bulk supply of copper-based materials to leading enterprises in the aforementioned field. Among them, the company's high-precision shaped oxygen-free copper busbar products have successfully achieved mass production in the new AI cooling structure of 3DVC, and strategic cooperation has been established with many global first-tier cooling module companies, being applied in several top GPU cooling solutions; the company's self-developed copper heat pipes, liquid-cooled copper pipes, and other products have been successfully integrated into the computing power server products of many leading enterprises.

The mining data and holding situation of major mining companies in July show that IREN, MARA, CLSK, CANG, and RIOT mined 728, 703, 671, 650, and 484 coins respectively, with varying operating computing power and mining rig efficiency, and MARA holds the most coins. The mNAV and the number of coins held per thousand shares of each mining company also differ, reflecting the market conditions.

BlockBeats reported that on August 13, Yuxian, the founder of Slow Fog, commented on the 51% attack incident of Monero, stating that there are many doubts in the community about whether it is truly a 51% attack in the real sense, but there are no doubts regarding the reorganized blocks (for example, 6 blocks). The Qubic Mining Pool claims to control 51% of the Computing Power, but many community members believe it controls about 33% of the Computing Power. This debate is not easy to verify; to provide solid evidence of a 51% attack, a double spending attack test must be initiated. Previous reports indicated that the IOTA co-founder Sergey Ivancheglo's project Qubic quickly accumulated a large amount of Monero Computing Power through the "useful Proof of Work (uPoW)" mechanism, and on August 12, Qubic briefly controlled 52.72% of the Monero network's hashrate (approximately 3.01 GH/s). Once it exceeds

Aethir announced the optimization of the core parameter K value, dropping the cloud host stake requirements, applicable to new GPU providers, while existing Nodes are not affected. This will release more GPU supply, enhance AI and gaming customer satisfaction, and drive network utilization above 95%. The new mechanism will take effect on August 14, aiming to strengthen the Decentralization of GPU infrastructure.

Gate 新闻机器人消息，SlowMist 创始人 @evilcos 报告称，Qubic 矿池已获得对 Monero 大部分哈希算力的控制。该矿池已确保超过 51% 的网络总哈希算力，从而在技术上能够在 Mon 上执行链重组。

PANews August 12 news, Slow Fog founder Yu Xian stated that the Qubic Mining Pool has recently gathered a large amount of Computing Power through economic incentives, and is suspected to have successfully achieved a 51% Attack on the Monero network. Qubic founder Sergey Ivancheglo admitted that after controlling most of the Computing Power, they could rewrite the Blockchain, implement Double Spending, and review transactions. Although Qubic claims this move is a technical demonstration, the Monero community has expressed concerns about the network's Decentralization and security, and has called on miners to disperse their Computing Power to drop risks. It was previously reported that Monero is facing a network takeover attempt initiated by the mining pool Qubic, which has sparked strong opposition from the community.

Odaily News Ledger's Chief Technology Officer Charles Guillemet posted on X that Monero seems to be experiencing a successful 51% Attack. This privacy-focused Blockchain was born in 2014 and has long been targeted by governments and law enforcement agencies around the world, and it is now delisted from most mainstream Centralized Exchanges. The Qubic Mining Pool has been continuously accumulating Computing Power for months and now controls the majority of the network's Computing Power. A significant chain reorganization event was detected this morning, and with the current advantage, Qubic can rewrite this Blockchain at will, implement double spending, and review any transaction. Maintaining such an attack costs about $75 million daily. Although the potential profits are considerable, it would almost overnight destroy the entire network's trust foundation, and other Miners would lose the motivation to continue Mining—because Qubic can.

Jin10 Data reported on August 12 that Galaxy Power Aerospace announced today that it has recently completed multiple key ground tests for the Ceres-2 launch vehicle, including electrical system integration matching tests, control system hardware-in-the-loop simulation tests, full system thermal tests for the attitude control power system, joint tests of the first-stage engine, joint tests of the second-stage engine, static tests of the fairing, separation tests of the fairing, and joint practice tests of the launch vehicle and rocket. The first flight of the Ceres-2 launch vehicle is entering the countdown phase, and it will carry 6 commercial satellites and 2 non-separable payloads, with a total payload exceeding 1 ton.

Gate News Bot news, on August 12, according to CoinMarketCap data, as of the time of writing, BIO (Bio Protocol) is currently priced at 0.13 USD, with a rise of 14.46% in the last 24 hours, reaching a high of 0.14 USD and a low of 0.06 USD. The current market capitalization is approximately 215 million USD, an increase of 27.2 million USD compared to yesterday. Bio Protocol is a new financial layer of DeSci (decentralized science) aimed at accelerating the commercialization of the best scientific achievements. This protocol allows anyone to fund, develop, and manage tokenized scientific innovations from universities, companies, and researchers around the world. The Bio ecosystem is driving biotechnology innovation, accelerating drug development through decentralized financing and coordination, shortening the development cycle from decades to months. Important news about BIO recently: 1️⃣ **Staking Power

Gate News Bot news, on August 12, according to CoinMarketCap, as of the time of publication, PI (Pi) is currently priced at 0.40 USD, a fall of 1.52% in the last 24 hours, with a high of 0.46 USD and a low of 0.34 USD. The current market capitalization is approximately 3.123 billion USD, a decrease of 48.2585 million USD compared to yesterday. Pi is a digital currency that can be mined on mobile phones. The project aims to allow ordinary people to participate in the cryptocurrency revolution without the need for expensive hardware or significant power consumption. Pi uses breakthrough technology that allows users to mine without draining their phone battery. It is a decentralized, mobile-first, user and planet-friendly cryptocurrency. Important news about PI recently: 1️⃣ **The impact of Federal Reserve interest rate policy expectations on the cryptocurrency market** One

ChainCatcher news, EdgeX Labs announced the launch of a brand new official website, fully presenting the hybrid AI + DePIN technology architecture that integrates cloud and edge, along with the global Computing Power network layout. This upgrade focuses on PaaS and SaaS level AI services, deeply integrating multimodal large language model capabilities, hybrid AI Computing Power scheduling protocols, and the global Node network, providing developers and enterprises with full-link support from model deployment, personalized fine-tuning to real-time inference. At the same time, the newly integrated TTS voice service and multimodal interaction system enable text, images, and voice to achieve low latency and efficient collaboration within the same intelligent network. EdgeX Labs Smart Hardware Matrix: PoS GPU-Server for enterprise-level high concurrency inference, PoW AI Dual

Gate News Bot news, on August 11, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently reported at 0.39 USD, a fall of 15.31% in the last 24 hours, with a high of 0.46 USD and a low of 0.34 USD. The current market capitalization is approximately 3.041 billion USD, a decrease of about 550 million USD compared to yesterday. Pi is a mobile application that allows users to mine cryptocurrency on their phones. The project aims to provide an accessible cryptocurrency mining experience for everyday users without the need for significant power consumption. The Pi network employs innovative technology to enable users to mine without draining their phone's battery. The project's goal is to create a decentralized, secure, tamper-proof, and interoperable digital currency ecosystem. Important news about PI recently: 1️⃣ **Impact of Federal Reserve interest rate policy expectations on cryptocurrency

Jin10 reported on August 11 that North Korean Defense Minister Ri Yong-gil made a statement on the 10th local time, condemning the upcoming "Ulchi Freedom Shield" joint military exercises between the U.S. and South Korea. The statement said that the U.S. and South Korea have unabashedly exposed their military confrontation stance against North Korea, which poses a serious challenge to the security environment of the Korean Peninsula and the region once again. The North strongly condemned the provocative actions of the U.S. and South Korea and issued a stern warning regarding the negative consequences that would result from them. Ri Yong-gil stated that flaunting military power to North Korea will backfire, making the security of the U.S. and South Korea even less secure.

PANews August 8 news, Oread announced the successful completion of the first phase of Computing Power RWA (Real World Asset) issuance, with an asset scale reaching tens of millions of yuan. This issuance converts Computing Power assets into RWA format on-chain, and the relevant assets have completed Compliance filing. Oread stated that this move aims to promote the integration of Computing Power assets with Blockchain technology, providing the industry with new asset management and circulation methods.

Jin10 Data reported on August 8 that Pingzhi Information stated on the interactive platform that as of now, the company has signed Computing Power business orders exceeding 2.2 billion yuan, and all related Computing Power server hardware has been purchased and delivered. In the future, the company will procure Computing Power servers as needed based on the signing situation of new Computing Power business orders.

Jinse Finance reports that S&P Global has assigned a credit rating of "B-" to the issuer of USDS, Sky Protocol. According to Sky, this is the first time the rating agency has issued a credit rating for a stablecoin system. According to S&P's official website, a B rating means that the entity is more vulnerable to adverse business, financial, and economic conditions but still has the capacity to meet its financial obligations. The report points out that "Outlook Stable" but also states that the rating of Sky is constrained by its highly concentrated depositors, highly concentrated governance structure, and weaker risk-adjusted capital strength. S&P noted that although founder Rune Christensen holds 9% of the governance tokens, due to the low voting rate, Christensen has significant power in determining the future direction of Sky.

Golden Finance reports that Bitcoin mining company CleanSpark (NASDAQ: CLSK) announced its Q3 performance for the fiscal year 2025, with revenue increasing 91% year-on-year to $198.6 million, and net profit reaching $257.4 million. The net profit may exceed revenue due to non-operating income, such as gains from asset sales, investments, or one-time events, which are included in net profit but not in revenue. Benefiting from the pump in Bitcoin prices (rising from about $86,500 to around $109,000 within Q3) and an expansion in its holdings, its total Bitcoin reserves are valued at approximately $1.08 billion, representing a significant component of the company's total assets of $3.1 billion. CleanSpark also announced that its Computing Power reached 50 EH/s, accounting for 5.8% of the global Computing Power, making it the first publicly traded company to achieve this level entirely through domestic infrastructure in the United States.

PANews, August 6th, news from GlobeNewswire, Nasdaq-listed mining company IREN announced its operational data for July, with revenue of $86 million and hardware profits of $66 million, both setting monthly records. The average computing power for the month was 45.4 EH/s, producing 728.

Odaily News ZOOZ Power (NASDAQ/Tel Aviv Stock Exchange: ZOOZ) announced the completion of its first round of $5 million private sale financing, with an issuance price of $2 per share. This financing is the first phase of the company's previously announced $180 million private sale plan for institutional investors. Upon obtaining shareholder approval, approximately 95% of the proceeds from the private sale will be used to implement a Bitcoin reserve strategy. This move will make ZOOZ the first dual-listed company on NASDAQ and Tel Aviv to adopt Bitcoin as a reserve asset.

Cango Inc. announced that the Bitcoin production in July 2025 is 650.5 coins, with a month-on-month rise of 45%. The company holds 4,529.7 Bitcoins, and the computing power has increased to 50 EH/s. The new management team will accelerate vertical integration and expand the mining farm and energy infrastructure layout.

Golden Finance reports that Cango, a company listed on the New York Stock Exchange, released its Bitcoin production and mining operation update for July 2025, which shows that the company produced 650.5 BTC in July, a rise of 45% compared to the 450 BTC mined in June. In addition, the company's deployed computing power in July increased to 50 EH/s, with an average operating computing power of 40.91 EH/s for the entire month.

Jin10 data reported on August 4, on August 4, China Aerospace Science and Technology Corporation announced that its self-developed LQ-2 110-ton liquid oxygen kerosene engine semi-system test was recently successful, with all core indicators achieved in one go. The semi-system test product includes the turbopump, gas generator, valves, starting system, ignition system, and assembly pipeline, excluding the combustion chamber. According to their introduction, a full machine test will be conducted at the China Aerospace Liquid Power System Test Center at the end of this month. The LQ-2 engine is a first-stage engine of the reusable rocket series.

Jin10 data reported on August 4 that Galaxy Securities research states that artificial intelligence drives the further development of companies in the communication industry, with optimism for high growth in hardware development. Combining supply and demand, Galaxy Securities believes that at the current moment, the Computing Power zone is still in a rapid development cycle, and the investment of various companies in large models will continue to grow. Driven by the competition for traffic entry points and the vast imagination of application markets, it will not be adjusted due to one company dominating the traffic entry point. As the most important demand side of its Computing Power base, it will also become increasingly vigorous.

Democratic lawmakers in Texas announced their departure from the state to prevent Republicans from advancing their plan to redraw congressional districts. This move is aimed at protesting the redistricting efforts pushed by Trump, which are intended to strengthen Republican power in the 2026 elections. Democratic leaders stated that this is a protest against ignoring public opinion. Meanwhile, Democratic governors in California and New York have also threatened to fight back by redistricting.

Jin10 Data reported on August 1st that Innosilicon (02577.HK) announced that it has recently reached a cooperation agreement with global AI technology leader NVIDIA to jointly promote the large-scale implementation of 800VDC (800 Volt Direct Current) power architecture in AI data centers. This architecture is a new generation power system specially designed by NVIDIA for future efficient power supply megawatt-level computing infrastructure, which has significant advantages in system efficiency, thermal loss, and reliability compared to traditional 54V power supplies, and can support a 100-1000 times increase in AI Computing Power.

El Salvador's legislative body has approved constitutional reforms allowing for indefinite re-election, extending the presidential term to six years, and eliminating runoff voting, which has been criticized as a concentration of power and a threat to democracy. Opponents are calling for an early end to the current term to unify the election timeline.

Gate News Bot news, on August 1st, according to CoinMarketCap data, as of the time of writing, SPON (Spheron Network) is currently priced at $0.05, having risen 95.11% in the last 24 hours, with a high of $0.06 and a low of $0.02. Current market capitalization data is temporarily unavailable. Spheron Network is a decentralized GPU network designed to provide revolutionary GPU computing power for AI and ML workloads. The network aggregates idle resources from gaming equipment, data centers, and mining farms, connecting them through a permissionless decentralized network. Spheron Network is committed to providing developers with a scalable, decentralized cloud computing alternative, optimized specifically for AI, ML, and next-generation workloads. Recent important SPO

Golden Finance reported that on the night of July 31, in response to the serious security issues exposed regarding Nvidia's Computing Power chips, Nvidia stated: "Cybersecurity is crucial for us. Nvidia's chips do not have 'backdoors' and do not allow anyone remote access or control over these chips." (Yicai)

On July 31, Jin10 reported that French President Macron stated that the EU lacks sufficient deterrent power in trade negotiations with the United States, leading to agreements that have been criticized by many as unbalanced. "Europe has not yet seen itself as a powerful force. To be free, one must be feared. And we are not yet feared enough," Macron said during a cabinet meeting on Wednesday. Last Sunday, the EU agreed that most products exported to the U.S. will face a 15% tariff, while the average tariff rate on goods imported from the U.S. by the EU remains below 1%. EU Trade Commissioner Maros Sefcovic acknowledged that this was "the best agreement we could reach in very difficult circumstances." In response, Macron stated on Wednesday that this agreement is not "the end of the story," and negotiations regarding the agreement will continue. "France has always taken a firm and strict stance," he said, and will continue to do so.

NASDAQ-listed company ZOOZ Power plans to raise $180 million through a PIPE offering to launch a Bitcoin reserve treasury, expecting to sell 180 million shares of common stock and warrants at $1 per share, with multiple investment institutions participating in the investment.

Odaily News South Korea's ruling party and opposition party submitted stablecoin regulatory bills on Monday, showing significant differences on whether to prohibit interest payments to users. The bill proposed by Democratic Party member Ahn Doo-jae explicitly prohibits interest payments on stablecoins and requires issuers to provide 100% reserve support, with a minimum capital of 5 billion won; ruling party People Power Party member Kim Eun-hye did not restrict interest payments and emphasized promoting innovation and enhancing information disclosure. Both proposals grant the Bank of Korea regulatory authority. (Decrypt)

According to ChainCatcher news, the latest report from the on-chain data analysis platform Glassnode indicates that the Bitcoin price level of $117,000 continues to attract buying demand, with approximately 73,000 Bitcoins currently held at this cost basis. Each market pullback is steadily absorbed by investors, demonstrating strong buying power in this price range.

Jin10 reported on July 25th that Jeremy Corbyn, an independent member of the House of Commons and former leader of the UK Labour Party, announced on social media on the 24th that he and former Labour MP Zara Sultana will establish a new political party, advocating for large-scale redistribution of wealth and power to resolve the current social crisis in the UK.

The decentralized computing network Spheron Network has announced that its annual recurring revenue has exceeded $10 million and is building a Computing Power infrastructure network. Its native Token SPON will be launched in Q3 2025, and multiple product lines will be promoted in the future.

Soluna Holdings, Inc. announced the completion of financing provided by Spring Lane Capital, expanding its Kati project in Texas to 35 megawatts, with plans to start construction in 2025 and preliminary power-on expected in 2026, accommodating approximately 12,000 Bitcoin Mining Rigs.

Jin10 data reported on July 22 that Barclays strategists pointed out in a report that after Japan's Senate elections last Sunday, the ultra-long-term Japanese government bond yields may face mild upward pressure. "Considering the balance of power between the ruling and opposition parties in Japan after the elections, the reasonable valuation for the 30-year Japanese bond term premium should be around 150 basis points," the bank stated. This implies an upward pressure of about 5 basis points compared to the level of 145 basis points on Thursday. The report also added that some temporary factors may contribute an additional 5 basis points of upward pressure.

Gate News Bot news, July 22, according to CoinMarketCap data, as of the time of writing, PENGU (Pudgy Penguins) is currently priced at $0.04, having risen 22.31% in the last 24 hours, with a peak of $0.04 and a low of $0.03. The current market capitalization is approximately $2.378 billion, an increase of $434 million compared to yesterday. Ranked 47th. Pudgy Penguins is a global IP brand focused on spreading penguins, meme culture, and positive vibes. The brand produces content, merchandise, toys, and digital collectibles, dedicated to helping users unleash their inner child through the power of play and imagination. Pudgy Penguins welcomes users to join this creative, free-spirited, and community-oriented Web3 brand world.

Gate News Bot news, July 21, according to CoinMarketCap data, as of the time of this report, AGENT (AgentLayer) is currently priced at 0.00328032 USD, with a rise of 43.82% in the last 24 hours, reaching a high of 0.00328206 USD and a low of 0.0022584 USD. The current market capitalization is approximately 1.79 million USD, an increase of 545,500 USD compared to yesterday. AgentLayer is an innovative project aimed at creating a decentralized, permissionless, secure, and reliable autonomous AI agent collaboration and coordination network. AgentLayer harnesses the power of generative AI driven by large language models (LLMs), enabling AI agents to make decisions and complete tasks autonomously with minimal human intervention. AgentLayer envisions a network of vertical and personalized AI.

Odaily News Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor retweeted on the X platform, stating that if instead of purchasing a new iPhone each time it is released, one instead uses the same price to buy Bitcoin, the current profit could reach 242 million USD. The BTC price of the iPhone has been used by the crypto community to measure Bitcoin's purchasing power benchmark, allowing investors to understand the value proposition of crypto assets by comparing the Bitcoin price of iPhones from previous years.