NEW: Michael Saylor's Strategy says "In 21 days, 95% of all bitcoin will have been mined." 👀"Take action now. Buy #bitcoin." 💥 https://t.co/5uQujAnZob ...

Today, cryptocurrencies rise as we kick off a key week of earnings and trade talks. Democratic senators court their colleagues to pass a resolution condemning the pardon of Shangpang Xiao. And CleanSpark CEO Matt Schultz breaks down the Bitcoin mining company's pivot to AI.Welcome to CNBC's Crypto World. I'm Jordan Smith. Digital currencies are getting a boost as we kick off a week of key earnings and a rate decision from the Fed.At the same time, we got positive signs that the US and China could reach a tr ...

Core Viewpoint - American Bitcoin (ABTC.US) has increased its Bitcoin holdings by approximately 1,414 BTC, leading to a pre-market stock price surge of over 8% [1] Company Summary - As of October 24, American Bitcoin has accumulated a total of about 3,865 BTC through self-mining and strategic acquisitions, which includes managed assets and Bitcoin pledged for mining equipment procurement under an agreement with Bitmain [1] - The company's Executive Chairman, Asher Genoot, highlighted that American Bitcoin's integrated mining operations differentiate it from traditional Bitcoin holding institutions, allowing for a lower average cost per Bitcoin mined compared to those that only purchase on the open market [1]

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Core Insights - IREN Ltd. (NASDAQ:IREN) experienced a significant share price increase of 12.60% to close at $62.90, driven by investor enthusiasm for AI-related stocks following Oracle Corp.'s $38 billion expansion announcement [1][2] - The company is transitioning from Bitcoin mining to AI services, aiming to capitalize on the rapid growth in the AI sector [2] - IREN has deployed 11,000 Nvidia Blackwell GPUs to its AI partners, with plans for full operations by the end of the year and an additional 12,000 GPUs expected to generate $500 million in annualized recurring revenues from AI [2] Company Developments - IREN Ltd. is set to release its earnings performance for Q1 of fiscal year 2026 on November 6, 2025, which has attracted investor interest [2] - The transition to AI services is part of IREN's strategy to leverage the growth potential in the AI market, moving away from a sole focus on Bitcoin mining [2] - The deployment of Nvidia GPUs is a key step in enhancing IREN's capabilities in AI, with significant revenue expectations from this segment [2]

Core Insights - Jane Street Capital has disclosed its stakes in three major Bitcoin mining companies, indicating a significant interest in the cryptocurrency sector [1][2]. Company Holdings - Jane Street Capital's Schedule 13Gs filed on October 23 revealed holdings in Bitcoin mining companies, leading to notable stock price increases [2]. - Cipher Mining (Nasdaq: CIFR) stock surged by 19.9%, reaching an intraday high of $20.69 [2]. - Hut 8 (Nasdaq: HUT) stock increased by up to 15%, hitting an intraday high of $46.82 [2]. - Bitfarms (Nasdaq: BITF) stock rose by 10%, reaching an intraday high of $4.77 [3]. - HIVE Digital Technologies (Nasdaq: HIVE) stock also rose around 15%, reaching $5.86 [3]. - Bitdeer Technologies Group (Nasdaq: BTDR) saw an increase of more than 7%, hitting $23.70 [3]. Industry Context - Jane Street Capital is involved in the cryptocurrency space, having participated in Kraken's recent $500 million funding round [4]. - The company has historical ties to the crypto industry, as notable figures like Sam Bankman-Fried and Caroline Ellison previously worked at Jane Street before entering the crypto market [4].

Core Insights - China was historically the leading center for Bitcoin mining due to its cheap electricity and access to hardware manufacturers [1] - The Chinese government banned Bitcoin mining in 2021, with the People's Bank of China prohibiting all cryptocurrency transactions, citing financial crime risks [2] - Despite the ban, China still accounts for 14.05% of Bitcoin's total compute power, approximately 145 EH/s, indicating a slight increase from 13.8% in the previous quarter [3][4] Mining Operations - China is currently the third-largest contributor to global Bitcoin mining, following the U.S. and Russia [4] - The geographic distribution of Bitcoin mining indicates that regions like Xinjiang, known for its energy resources, may still host mining operations despite the ban [5] - The underground nature of Bitcoin mining in China highlights the challenges in completely shutting down operations, as miners can continue as long as they have electricity and hardware [6][7] Global Context - Other regions with illegal Bitcoin mining, such as Iran, are also experiencing growth, with an estimated 8 EH/s operational, representing 0.75% of the global market share [8]

Debt & Investment - Bitcoin miner 公司的债务激增 500% 至 127 亿美元 [1] - Bitcoin miner 公司在新的设备和 AI 基础设施上进行了大量投资 [1]

Core Insights - The article emphasizes the importance of understanding macro trends and their influence on asset prices and investor behavior [1] - It highlights the significance of central bank policies, sector rotation, and sentiment dynamics in constructing actionable investment strategies [1] Group 1: Professional Background - The author has over 10 years of experience in asset management, focusing on equity analysis, macroeconomics, and risk-managed portfolio construction [1] - The professional background includes advising on and implementing multi-asset strategies, with a strong emphasis on equities and derivatives [1] Group 2: Investment Philosophy - The goal of sharing insights is to make investing accessible, inspiring, and empowering for all investors [1] - The article encourages collaboration among investors to build confidence in long-term investing [1]

Core Viewpoint - CleanSpark (CLSK) is transitioning from a Bitcoin mining company to an AI infrastructure provider, raising questions about its financial strength to support this pivot [1][2]. Company Overview - CleanSpark is a Bitcoin mining company that owns its own infrastructure rather than renting equipment, headquartered in Henderson, Nevada [3]. Transition to AI Infrastructure - The company has appointed Jeffrey Thomas as senior vice president of AI data centers, leveraging his experience in setting up data centers globally [1]. - The transition into AI infrastructure is seen as feasible due to existing power infrastructure and mining sites, although it presents complexities and risks [2]. Financial Performance - CLSK stock has increased by 87% year-to-date, significantly outperforming the Nasdaq Composite's 19.13% [4]. - The stock is currently trading at a 24% discount to its three-year high of $24.72 and a 56% discount to its five-year high of $40.39 [4]. Valuation Metrics - CLSK's forward GAAP price-to-earnings (P/E) ratio is 13.15x, which is 61% below the sector median, indicating potential undervaluation [5]. - The trailing twelve-month (TTM) GAAP P/E ratio of 20.79x offers a 34% discount to the median of 31.36x, further suggesting undervaluation [5]. - The forward price-to-book (P/B) multiple of 3.08x is 33% lower than the median of 4.58x, indicating significant upside potential from current levels [5].