Alphabet's Google will receive the right to buy a 5.4% stake in Cipher Mining as part of a multi-year data center deal with Fluidstack, an artificial intelligence computing startup https://t.co/YCDTuBe5Mo ...

💥BREAKING:GOOGLE TO BUY STAKE IN PUBLIC #BITCOIN MINER CIPHER MINING. https://t.co/JJdqvXYh23 ...

Core Viewpoint - Iren's shares surged over 17% following positive analyst notes, significantly outperforming the S&P 500 index, which declined by 0.3% [1] Analyst Coverage and Price Targets - Three analysts provided updates on Iren, with one initiating coverage and two increasing price targets [2] - Arete initiated coverage on Iren with a price target of $78 per share, alongside tracking Riot Platforms and Cipher Mining, all rated as buys [3] - Roth/MKM's Darren Aftahi raised his price target for Iren from $35 to $82, while Bernstein SocGen's Gautam Chhugani increased his target from $20 to $75, maintaining a buy recommendation [5] Company Strategy and Market Position - Iren is pivoting towards the data center segment, with management self-funding its construction and upgrading Bitcoin mining hardware, which is expected to enhance its fundamentals [4]

Group 1 - IREN and Riot Platforms saw a nearly 12% increase in their stock prices [1] - Cipher Mining and Bitfarms experienced over a 7% rise [1] - CleanSpark and Bit Digital both rose by over 6% [1]

每经AI快讯，9月24日，美股加密货币概念股集体飙升，IREN、Riot Platforms大涨近12%，Cipher Mining、Bitfarms涨超7%，CleanSpark、Bit Digital涨超6%。 ...

Core Viewpoint - The U.S. government is moving towards allowing alternative investments, including cryptocurrency and private equity, in 401(k) plans, following an executive order signed by President Trump, which aims to expand investment options for retirement savers [2][3][12]. Group 1: Regulatory Changes - The U.S. Securities and Exchange Commission, the Labor Department, and the Treasury are working on regulatory details to facilitate the inclusion of alternative investments in 401(k) plans [1][13]. - Trump's executive order highlights that alternative investments are already part of traditional pension plans, suggesting a similar approach for 401(k) plans [3][12]. Group 2: Market Impact and Adoption - The Michigan Retirement System has invested approximately $74 million in cryptocurrencies, indicating a growing acceptance of digital assets in public pension plans [3][4]. - The executive order is expected to lead to quicker adoption of alternative investments by employers, especially those with younger workforces [14][15]. Group 3: Investor Sentiment - Supporters of cryptocurrency view the inclusion in 401(k) plans as a significant opportunity for everyday investors, particularly younger individuals [5][7]. - A Gallup poll indicates that 14% of U.S. adults own cryptocurrency, but 60% express no interest in purchasing it, reflecting a divide in investor sentiment [20][21]. Group 4: Risks and Concerns - Experts warn that including cryptocurrencies in retirement plans could introduce significant risks due to their volatility, with historical data showing dramatic price fluctuations [18][19][26]. - Concerns have been raised about the suitability of alternative investments for average workers, particularly those nearing retirement who may not be able to absorb potential losses [24][26]. Group 5: Future Outlook - The executive order is seen as a step towards making the U.S. a leader in digital assets, with expectations of increased investment and innovation in the sector [16][22]. - The regulatory process will take time, but there is optimism that once established, more employers will offer these investment options [13][14].

Industry Overview - Bitcoin miners are increasingly integrating with High-Performance Computing (HPC), indicating a shift in operational focus that is expected to strengthen over time [1] - The Bitcoin mining network has achieved a significant milestone, reaching one zettahash of computing power, which equates to one sextillion computations per second [6] Market Performance - Cipher Mining's stock rose by 39% to $10.32, while Bitfarms saw a 62% increase, nearing $2 per share after CEO Ben Gagnon announced stock purchases [1] - IREN also performed well, surpassing $30 per share [1] Bitcoin Difficulty Adjustments - Recent Bitcoin difficulty adjustments show a significant upward trend, with a 7.96% increase in July followed by a 4.89% adjustment, and expectations of an additional 8% increase [2][4] - The current hash price is estimated to be between $53 to $56 per petahash per day [3] Legal and Regulatory Developments - Tether is involved in a legal dispute with Swan Bitcoin, claiming exclusive ownership over intellectual property developed in their joint venture [8][9] - A GOP lawmaker has urged a Treasury investigation into Bitmain's operations, citing potential risks to U.S. energy grid security [13][14] Company-Specific Developments - Canaan has reported strong performance, mining 1,400 Bitcoin in Q2 and shifting its operations to the U.S. [16] - Ocean Pool is facing controversy over executive compensation, with unconfirmed reports suggesting a salary of $750,000 for its CEO, which is considered high for the industry [17][18]

Core Theme - The cryptocurrency mining sector is diversifying revenue streams by leveraging technological capabilities for AI applications [1][3]. ETF Performance - The CoinShares Valkyrie Bitcoin Miners ETF (WGMI) has increased by nearly 13% over the past month and approximately 31% year-to-date, largely due to Bitcoin's performance, but also due to the advancements in AI by its components [2]. AI Growth Potential - The AI sector is young and expanding, with the emergence of agentic AI providing opportunities for WGMI components to establish themselves in this field [3]. - AI advancements by crypto miners help diversify their revenue, reducing reliance on cryptocurrency price fluctuations [3]. Company Developments - Iren (IREN) has achieved Nvidia Preferred Partner status and secured $96 million in financing from Nvidia to enhance its GPU fleet [4]. - The financing is structured as a 24-month lease covering 100% of the purchase price, with payments based on a high single-digit interest rate [5]. - Iren is responding to the growing demand for AI cloud computing, highlighting the significance of its partnership with Nvidia, a leader in AI semiconductors [6]. Cipher Mining Initiatives - Cipher Mining is advancing its high-performance computing (HPC) capabilities through the Black Pearl Phase 2 project, which could diversify its revenue and drive long-term share price growth [7]. - The project aims to develop 150 megawatts of infrastructure to support both hydro Bitcoin mining and HPC applications simultaneously [8].

Group 1 - TeraWulf Inc. (NASDAQ:WULF) has seen significant stock performance, rallying for three consecutive days and nearing its 52-week high due to investor optimism in the high-performance computing (HPC) sector [1][3]. - On Tuesday, TeraWulf's stock price increased by as much as 12% to $10.32, closing the day up by 11.96% at $10.30, just 3.6% below its 52-week high of $10.71 [2][3]. - The company is benefiting from renewed AI optimism, alongside peers such as Riot Platforms and Hut 8, particularly after Nebius Group's announcement of an $18 billion cloud computing deal with Microsoft [3]. Group 2 - TeraWulf has expanded its partnership with Google and Fluidstack to supply 360 MW of IT capacity, which is a significant development for the company [3]. - Google plans to invest $3.2 billion in TeraWulf to support this project, in exchange for warrants to acquire 32.5 million common shares, representing a 14% pro-forma equity stake [4].

Group 1 - Riot Platforms, Inc. (NASDAQ:RIOT) experienced a significant stock price increase of 13.17% on Tuesday, closing at $15.21, driven by positive developments in the high-performance computing (HPC) sector [1][2] - The stock price reached a high of $15.30, just 3.6% below its 52-week peak of $15.87, indicating strong investor interest [1] - Riot Platforms is strategically shifting its capacity towards high-value data centers to meet the growing demand for HPC, as highlighted in its recent earnings report [2] Group 2 - The CEO of Riot Platforms, Jason Les, emphasized the company's strong balance sheet and access to capital markets, positioning it well to capitalize on the increasing demand for HPC and Bitcoin growth [3] - The company aims to maximize the utilization of its power capacity and expand thoughtfully to drive long-term value for shareholders [3]