Core Insights - Cango produced 602.6 bitcoins in October, a decrease of 2.3% from 616.6 in September, while holding 6,412.6 bitcoins at month-end, which is an increase of about 10% from 5,810 a month earlier [1][2] - The average daily output of bitcoins was 19.44, down from 20.55 in September [1] - Cango's deployed hashrate remained at 50 exahashes per second (EH/s), with the average operating hashrate increasing to 46.09 EH/s from 44.85 EH/s [2] - The average operating hashrate exceeded 90% in October, and bitcoin holdings surpassed 6,000 BTC for the first time [2] - Cango plans to complete a direct listing of its ordinary shares on the New York Stock Exchange this month, following the termination of its ADR program [2] - The company entered the bitcoin mining business in November 2024, acquiring Bitmain facilities across North America, which solidified Bitmain's leadership in the Nasdaq-listed company [3] - Since entering the market, Cango has focused on increasing its Bitcoin holdings and hashrate efficiency, with limited deployments beyond the initial 50 EH/s purchased [3]

Core Insights - NU E Power Corp. has entered into an asset purchase agreement to acquire certain assets from ACT Mid Market Ltd., enhancing its position in renewable energy, data infrastructure, AI, and Bitcoin mining [1][2][3] Company Overview - NU E Power Corp. is focused on building and operating next-generation power sites to meet the demands of AI, Bitcoin, and digital economies through a hybrid approach that combines renewable, grid, and behind-the-meter generation [12] - ACT Mid Market Ltd. specializes in developing mid-market power sites optimized for AI, Bitcoin mining, and hybrid energy applications [13] Acquisition Details - The acquisition includes 500 MW of energy projects utilizing solar, natural gas, and electrical grid, which will support various Bitcoin and AI projects across multiple regions including Canada, Asia, South America, and Africa [3][4] - Following the acquisition, NU E's total targeted energy asset size will exceed 1 GW, marking significant progress towards its 2 GW target [2] Strategic Importance - The acquisition aligns with the increasing global demand for data centers driven by AI and cloud computing, projected to reach 78 GW by 2035 [2] - NU E's strategy includes generating cash flow through Bitcoin mining and securing long-term off-takes for clean energy and data center infrastructure [4] Project Highlights - The assets being acquired include: 1. 100 MW Mongolia Hybrid Power & Data Infrastructure Project, integrating grid, solar, and natural gas generation [5] 2. 200 MW Grid & Gas Hybrid Power Project in Saskatchewan, Canada, designed to support a self-sustaining smart community [8] 3. 100 MW Solar & Graphene Battery Program with the International Islamic University of Malaysia [8] 4. 100 MW Hybrid Solar, Gas & Grid Power and Data Centre Project in Lagos, Nigeria [8] 5. 100 MW Solar Development Program in Brazil [8] Management Changes - Following the acquisition, Broderick Gunning will be appointed as President and CEO of NU E, and Frederick Stearman will become Chief Technology Officer [7][10][11]

Cipher Mining (NASDAQ: CIFR) has signed a second hyperscaler tenant, now with Amazon Web Services (AWS), further entrenching itself as a leader in the Bitcoin mining-to-AI factory pivot. Listed at $5.5 billion for a 15-year lease, AWS will host dedicated artificial intelligence workloads at Cipher’s Barber Lake facility. The lease covers 300 megawatts and will go live starting July 2026, with rent effective August 2026. Cipher will provide both air and liquid cooling to AWS. “There will be no need for fu ...

Core Insights - HIVE Digital Technologies has achieved a bitcoin mining capacity of 23 exahashes per second (EH/s) and aims to reach 25 EH/s by the end of the month, marking a 283% growth this year [1][2] Mining Capacity and Infrastructure - The increase in mining capacity is attributed to the full deployment of hardware at its 100 megawatt (MW) hydroelectric campus in Paraguay, powered by the Itaipú Dam [2] - HIVE reached a mining capacity of 10 EH/s in May [2] Transition to AI Computing - HIVE is converting parts of its bitcoin mining operations into liquid-cooled, AI-ready data centers, with a recent land acquisition in Grand Falls, New Brunswick, capable of supporting 25,000 GPUs [3] - The company is transitioning its facilities to high-performance computing (HPC) standards to cater to businesses requiring constant uptime, such as AI cloud platforms and financial services [4] Future Projections - Additional facilities in Toronto and Sweden are expected to increase the company's projected GPU total to 36,000 by the end of 2026, up from approximately 5,000 today [4] - The company is positioning itself to leverage its renewable-powered facilities for a cost and speed advantage as demand for compute-intensive AI workloads grows [4] Financial Position - HIVE currently holds around 2,201 BTC in its treasury, ranking as the 34th-largest digital asset treasury firm according to Bitcointreasuries data [5] Market Reaction - The company's shares fell by 2.9% in pre-market trading on Monday [6]

Core Scientific and CoreWeave Acquisition - Core Scientific shareholders voted against the acquisition offer from CoreWeave, which was anticipated to be a significant data-center M&A deal in the mining sector [2] - The rejection of the deal alters the investment landscape by returning hundreds of megawatts back to the market for companies like Microsoft and Oracle [2] CleanSpark's AI Expansion - CleanSpark announced the acquisition of a new site in Texas with a 385 MW power pipeline, indicating a shift towards integrating AI and high-performance computing (HPC) workloads alongside traditional mining [4] - The stock of CleanSpark has increased nearly 100% since July 2025, following the market's anticipation of the use of its power pipeline for AI [5] TeraWulf's Long-term AI Hosting Agreement - TeraWulf signed a 25-year AI hosting deal with FluidStack, marking one of the longest contracts between a Bitcoin miner and an AI hosting firm, which enhances long-term revenue visibility [6] - This agreement reflects the industry's pivot towards high-margin compute workloads and TeraWulf's focus on the 'powershell' model for building AI factories [6] Global Hashrate Trends - The global hashrate has surged past 1.1 Zettahash, with significant contributions from China and Russia, despite Western miners potentially slipping in their market position [1][7] - The expansion of hashrate in these countries is occurring at a faster pace than expected, with many U.S. miners halting machine purchases to pivot towards AI [7][8]

TRENDING: Palantir, Robinhood Earnings Due After Market's Tricky October AI's rising demand for electricity is pushing large technology companies to seek new sources of power and infrastructure. Companies like IREN (IREN) are working with AI firms to repurpose their bitcoin mining sites for high-performance computing. The pivot from bitcoin miner to AI power play has proved lucrative for IREN stock, with shares surging more than 500% so far this… Related news (Applied Digital) IREN Has Surged More Than 400% ...

Core Scientific and CoreWeave Merger - Core Scientific shareholders rejected a $9 billion merger deal with CoreWeave due to insufficient votes for approval [1] - The merger was part of a trend among AI companies seeking power-rich infrastructure to support increasing computational demands [2] CoreWeave's Position and Financials - CoreWeave, backed by Nvidia, is an OpenAI partner providing AI infrastructure for advanced language model training [3] - CoreWeave secured a $6.3 billion order from Nvidia, which includes a commitment to purchase unsold capacity through April 2032 [3] Market Reaction - Following the merger rejection, CoreWeave's stock fell over 6% to close at $131.06, while Core Scientific's stock remained stable at $20.74 [4] Industry Context - Bitcoin mining has become increasingly complex and costly, leading miners to explore alternative fields such as AI [5] - Core Scientific shareholders felt the acquisition deal undervalued the company [6]

Mining Industry Updates - Core Scientific shareholders rejected the CoreWeave deal [2] - Hashprice decreased to $43.73 per petahash daily [2] - Bitcoin mining difficulty adjusted upward by 6.3% [2] - Hashrate reached 1.1 zettahash on a 7-day average [2] - CleanSpark acquired a Texas site with a 300 MW pipeline [2] - TeraWulf signed a 25-year deal with FluidStack [2] Institutional Adoption & Market Structure - Institutional adoption is fundamentally changing Bitcoin's market structure [1] - The debasement trade narrative is going mainstream [1] - Fast money hasn't arrived yet this cycle [1] Bitcoin Mining Advantages - Alberta has competitive advantages for Bitcoin mining [1] - Alberta offers a concierge program for large miners [1]

Core Insights - Riot Platforms (RIOT) reported a surprising third-quarter profit of $104.5 million, or 26 cents per diluted share, compared to a loss of $154.4 million, or 54 cents, in the same quarter last year [1][2] - Revenue more than doubled to $180.2 million, primarily driven by a $93 million increase in bitcoin mining revenue, with the company mining 1,406 bitcoin at an average cost of $46,324 per coin [2][3] - The company's revenue growth was supported by a 6.4% increase in bitcoin prices during the quarter and enhanced operational capacity [3] Financial Performance - The net income of $104.5 million marks a significant turnaround from the previous year's loss [1] - The substantial revenue increase to $180.2 million reflects strong performance in bitcoin mining [2] - Riot recorded a $133 million mark-to-market gain on its bitcoin holdings, which totaled 19,287 BTC valued at approximately $2.2 billion as of September 30 [3][5] Operational Developments - Riot announced the initiation of 112 megawatts of core and shell development at its Corsicana, Texas data center campus, following successful land acquisition and design completion [4] - CEO Jason Les emphasized that these developments are crucial for transforming Riot into a large-scale, multifaceted data center operator leveraging its land and power assets [4]

JUST IN: 🇧🇷 Brazilian solar company Thopen explores Bitcoin mining to solve an electricity oversupply problemBrazil turning excess energy into Bitcoin ⚡🟧 https://t.co/K2nTt26PZW ...