Power Analysis

We track how Bitcoin miner valuations are shifting from pure hash to hyperscale compute as Tether buys 8,000 BTC and major financing deals reshape the field. CoreWeave’s Meta agreement, Soluna’s new Canaan hosting, Bit Digital’s ETH convert, Cipher’s capped calls, and the IREN downgrade debate define the week. • Bitcoin price context and Tether’s 8,000 BTC buy • DMG volume surge and small-cap mome...

We break down why difficulty and hash price are pressuring miners while DMG, Hive, and MARA's push into AI and HPC to stabilize revenue and margins. We also unpack the Core Scientific–CoreWeave vote math and what it signals for miner valuations and strategy. • Bitcoin price strength versus falling hash price and rising difficulty • Why public miners slow hashrate growth while private and sove...

McNallie Money delivers breaking news about Cipher Mining's massive $3 billion contract with Fluidstack, backed by Google, for a 10-year high-performance computing deal that could extend to $7 billion. We analyze the strategic implications of this 168-megawatt contract and compare it with Terawulf's similar arrangement, exploring what this means for the future of Bitcoin mining companies...

The Bitcoin mining sector is experiencing remarkable growth with many companies pivoting toward high-performance computing (HPC) to capitalize on the expanding AI market, despite Bitcoin trading below its all-time highs. • Hive Digital Technologies has reached 20 exahash and aims for 25 exahash by US Thanksgiving • Nine Bitcoin mined daily with 55% mining margin and impressive 233% year-to-date gr...

Jeff LaBerge from Bitdeer Technologies Group joins us to discuss their groundbreaking A3 Seal Miner, which at 12.5 joules per terahash has become the most efficient Bitcoin mining rig on the market today. Their vertical integration strategy and manufacturing innovations are positioning Bitdeer as a major player in the ASIC market while rapidly expanding their self-mining operations. • A3 SealMiner...

Bitcoin miners are navigating market turbulence as they expand into high-performance computing while macro factors like Fed policy and political developments shape the industry. Dennis Porter's endorsement of Ian Calderon for California governor could significantly impact cryptocurrency policy in one of the world's largest economies. • Bitcoin price holding around $113,000, down from rec...

IREN makes a massive move in the cryptocurrency mining world with another substantial GPU purchase, positioning themselves to become a hyperscaler in their own right while Soluna Holdings experiences significant price action despite Bitcoin's sideways movement. • IREN announces purchase of 12,400 additional GPUs for $674 million, doubling their AI cloud capacity • Projected annual AI cloud re...

The cryptocurrency mining landscape is experiencing a significant transformation as leading miners pivot toward high-performance computing and AI infrastructure while maintaining robust Bitcoin operations. • Iren Technologies, Cipher Mining, and Bitfarms leading the market with year-to-date returns of 376%, 273%, and 165% respectively • Bitcoin price hovering around $117,700, providing strong reve...

McNallie Money explores Bitcoin miner news, data analysis, and the impact of the Federal Reserve's rate cut on the mining sector and market outlook. • Reflections on HC Wainwright conference where mining companies presented strategies to investment banks and family offices • Bitfarms CEO Ben delivered an outstanding presentation that immediately impacted stock movement • Michael Saylor's...

The Bitcoin mining space is experiencing a significant sentiment shift as miners outperform treasury strategy companies in recent months, with companies like IREN, Riot, and BitFarms seeing dramatic price increases while treasury companies face valuation compression. • Soluna Holdings secures $100M facility from Generate Capital to expand their green data center portfolio • Bitcoin miners showing...

Eric Jackson returns to discuss his evolving investment thesis on Opendoor, IREN, and Cipher – three companies he believes have 100-bagger potential. • Eric's Opendoor campaign began after examining signs of potential profitability and an imminent Fed rate cut • The social media movement led to leadership changes, with Carrie exiting as CEO and co-founders returning to the company • Eric and...

Matt Prusak, President of American Bitcoin Corp., and Asher Genoot, Chairman of ABTC, discuss their company's unique approach as a pure-play Bitcoin accumulator focused on increasing Bitcoin per share for shareholders. • American Bitcoin was formed by separating the Bitcoin business from Hut 8 to optimize for different business models and shareholder expectations • ABTC acquires Bitcoin throu...

Bitcoin miners are experiencing a transformative shift toward high-performance computing (HPC) and AI infrastructure, creating massive value for companies that successfully pivot their business models. • IREN leads the sector with a $9 billion market cap, larger than Marathon and CleanSpark combined • Companies with HPC strategies show substantial outperformance on the heat map with Iron up 246% Y...

Bitcoin mining companies are pivoting toward high-performance computing and AI infrastructure, causing a significant melt up in mining stocks as the market revalues these companies' power assets and data center expertise. From Cipher's expansion strategy to Bit Digital's subsidiary success, and from BitFarms' strategic locations to Bitdeer's vertical integration, miners ar...

McNally Moneie hosts bring you the latest updates from the HC Wainwright Conference in New York and dissect the August production results from leading Bitcoin miners while highlighting significant industry developments. • Hive increases hash rate to 18.1 EH/s, a significant jump from 6 EH/s at the start of the year • Hive mined 247 Bitcoin in August, 22% more than July, with improving efficiency m...

Mining companies share their August production results, revealing differing strategies for success in the increasingly competitive bitcoin mining landscape. We analyze how each company is positioning itself as global hash rates climb and profit margins tighten. • Mara mined 705 bitcoin in August while growing operational hash rate to 59.4 EH/s • Mara's bitcoin holdings (52,477 BTC) now exceed...

Lauren Lin, Head of Hardware at Luxor Technologies, takes us behind the scenes of their hardware division, explaining how they've shipped ASICs to over 36 countries and are expanding into HPC solutions alongside Bitcoin mining hardware. • Joined Luxor in 2021 as employee #1 on the business team before transitioning to hardware • Luxor's hardware vision is to be the hub for Bitcoin mining...

The Bitcoin mining industry is experiencing a significant transformation as companies diversify into high-performance computing and AI infrastructure, searching for sustainable growth and predictable revenue streams. • Core Scientific-CoreWeave merger faces shareholder scrutiny as deal valuation has fallen from $9B to $4.77B due to CoreWeave's share price decline • Bit Digital's Ethereum...

Terawulf CFO Patrick Fleury discusses the company's massive $6.7 billion FluidStack-Google deal and how it transforms their business from Bitcoin mining to high-power computing infrastructure. We explore the innovative financing structure, timeline for execution, and how Google's 14% equity stake and $3.2 billion lease backstop creates significant shareholder value. • $6.7 billion, 10-ye...

Bitcoin mining sees major developments with ABTC beginning NASDAQ trading while Hive Digital surpasses 18 exahash and both CleanSpark and Riot release strong August production results. • ABTC (American BTC) starts trading on NASDAQ, opening at $7.59 and climbing rapidly to show 36-37% gains • Bitcoin price shows strength, breaking $112,000 after recent selling pressure • MicroStrategy continues ac...

The McNallie Money team explores the dramatic market cap shifts among the top nine Bitcoin miners in 2025, analyzing how their pivot toward AI and high-performance computing is reshaping valuations and industry dynamics. • Iren leads with 271% market cap growth to $8 billion, leveraging their early AI infrastructure strategy and potential for 60,000 GPUs in British Columbia • TeraWulf secured a ga...

IREN achieves record-breaking financial results with FY25 revenue hitting $501 million, up 168% year-on-year, and Q4 standalone revenue of $187 million. The company has scaled to a billion-dollar annualized revenue run rate for Bitcoin mining while simultaneously building a $250 million AI cloud services business. • Expanded contracted grid-connected power to almost 3 gigawatts with a multi-gigawa...

IREN reaches new all-time highs exceeding $29 per share following their record-breaking fiscal year 2025 and Q4 results, cementing their position as the largest Bitcoin miner by market capitalization. • Record annual revenue of half a billion dollars with Bitcoin mining as the primary contributor • Adj. EBITDA of $270 million, representing a 400% increase year-over-year • EBITDA of $278 million sh...

Anthony Power and McNallie dive deep into the Core Scientific and CoreWeave transaction, examining both sides of the equation ahead of the upcoming shareholder vote. They uncover surprising details from the newly released S4 filing that raises questions about who truly benefits from this multi-billion dollar deal. • CoreWeave has been working with Core Scientific since 2019, evolving from a client...

DMG Blockchain Solutions presents their Q3 earnings results while discussing their strategic vision balancing Bitcoin mining operations and expansion into AI infrastructure solutions. • Q3 revenue of $11.6 million with 44% cash gross profit margin and $2.7 million in operating income before depreciation • Balance sheet strength with net assets valued at approximately twice the company's marke...