Core Viewpoint - CleanSpark, Inc. has appointed Matt Schultz as the new CEO following the resignation of Zachary Bradford, aiming for stability and continuity during this leadership transition [1][3]. Group 1: Leadership Transition - Zachary Bradford has resigned as CEO and director of CleanSpark, effective immediately, with Matt Schultz stepping in as CEO [1]. - Schultz, a co-founder and former CEO, has been instrumental in the company's growth and capital raising efforts, making CleanSpark a leading bitcoin mining company in North America [2]. - Schultz emphasizes the importance of stability and continuity during this transition, while the board believes this change is timely to capture new opportunities [3]. Group 2: Company Strategy and Operations - CleanSpark reaffirms its strategic plans, focusing on continued execution as a global leader in bitcoin mining and further development of data centers [4]. - The company operates a portfolio of mining facilities across the U.S., leveraging competitive energy prices to optimize returns for shareholders [5]. - CleanSpark is positioned to capitalize on the intersection of bitcoin, energy, operational excellence, and capital stewardship [5].

Bitcoin mines in Himalayan Mountains of Bhutan https://t.co/XLOLgzUg9N ...

Company Overview - IREN Limited (NASDAQ: IREN) has become one of the best-performing Bitcoin miners in 2023, with its stock increasing by 210% since April lows [1] - The company is transitioning from being a pure Bitcoin miner to a rapidly growing AI infrastructure disruptor [1] Performance Metrics - The stock performance of IREN Limited reflects significant growth, indicating strong market interest and potential investor confidence [1] Strategic Shift - IREN's shift towards AI infrastructure suggests a diversification strategy that may enhance its long-term growth prospects beyond Bitcoin mining [1]

3/ @CleanSpark_Inc, a $BTC mining company, reported adding 100+ BTC to its treasury in Q2 2025.With a total of 12,703 BTC valued at over $1B, it has overtaken Coinbase for the #8 spot.Notably, the firm accumulates Bitcoin via mining and accounts for 5.8% of global hashrate. ...

Mining Metrics - Global Bitcoin mining hashrate reached a new record of 935 quintillion (935,000,000,000,000,000,000) hashes per second [1]

Financial Data and Key Metrics Changes - CleanSpark reported record-setting revenue of approximately $199 million for the third quarter, representing a 94% increase year-over-year and a 9% increase from the previous quarter [5][33] - Earnings per share reached $0.90, supported by gross margins of 54.6% [5][34] - The company produced 20.12 Bitcoin during the quarter, a 28% increase compared to the same quarter last year [33] - The total Bitcoin treasury grew to approximately $1.08 billion, an increase of over $100 million since the last quarter [6][39] - The marginal cost per Bitcoin was $44,806, reflecting a 5% increase over the previous quarter, primarily due to increased mining difficulty [36] Business Line Data and Key Metrics Changes - CleanSpark achieved an operational hash rate of 50 exahash, marking a significant milestone as the first publicly traded company to reach this level with American infrastructure [7][9] - The average power efficiency of the mining fleet improved to just over 16 joules per terahash [7] - The all-in cost per kilowatt hour decreased to $0.56, nearly $0 lower than in the second quarter [8][36] Market Data and Key Metrics Changes - The company holds approximately 5.6% of the global hash rate, an increase from 4.3% at the end of fiscal 2024 [15][16] - The average revenue recognized per Bitcoin produced was approximately $99,000, a 50% increase year-over-year [34] Company Strategy and Development Direction - CleanSpark aims to become the global leader in Bitcoin mining, focusing on operational excellence and capital stewardship [10][31] - The company is evaluating approximately 1.2 gigawatts of near-term power opportunities and an additional 1.7 gigawatts of long-term projects [21][22] - The strategy includes a balanced approach between monetizing new production and growing the Bitcoin treasury [47][48] Management's Comments on Operating Environment and Future Outlook - Management highlighted supportive macro and policy tailwinds, including recent regulatory developments that could drive increased demand for Bitcoin [23][24] - The company is optimistic about the future, expecting to capture a greater share of the global hash rate and continue its growth trajectory [14][15] Other Important Information - CleanSpark's total debt stands at approximately $820 million, with a significant portion related to a convertible transaction [39] - The company has onboarded several high-quality counterparties for its digital asset management team and completed its first derivative transaction [40][41] Q&A Session Summary Question: Can you elaborate on the 200 megawatts of additional contracted power available? - Management indicated that the 200 megawatts are in areas of existing operations and will focus on rolling out the next phase of infrastructure quickly [54][55] Question: What is the current M&A landscape and appetite for potential deals? - Management sees a robust pipeline in the private space and is ready to take advantage of opportunities as miners pivot to other areas [57][59] Question: When do you expect to reach targeted run rates for the digital asset management strategy? - Management expects a ramp-up in the coming quarters, with a measured approach to onboarding additional counterparties [62][64] Question: How are conversations with utility partners regarding the growth pipeline? - Management emphasized the flexibility of their operations, which positions them favorably in discussions with utilities [66][68] Question: What percentage of the Bitcoin treasury will be used for yield generation? - Management plans to use approximately 40% of the huddle balance to generate a target yield of 4% [72][73] Question: How does the company view the existing tariff environment regarding fleet expansion? - Management acknowledged the secondary market for hardware purchases as an option and noted the fluctuating tariff environment [108]

UK-listed oil and gas firm eyes bitcoin mining at hydrocarbon site, considers BTC treasury strategy https://t.co/llCg6Mpd7l ...

Financial Data and Key Metrics Changes - In Q2 2025, the company reported revenue of $44 million, down 10% from $49 million in Q1 2025, attributed to rising network cash rates and summer power prices in Texas [33][34] - The GAAP net loss for the quarter was $46 million, or $0.12 per share, compared to a net loss of $15 million, or $0.05 per share in Q2 2024 [34][35] - Adjusted earnings for Q2 2025 were $30 million, or $0.08 per share, up approximately 400% from $6 million in the previous quarter [34][36] - The company’s cash position increased from $23 million in March to $63 million in June, reflecting the remaining proceeds from a convertible offering and opportunistic Bitcoin sales [42] Business Line Data and Key Metrics Changes - The company mined a total of 4.44 Bitcoin in Q2 2025, with 4.34 Bitcoin from Odessa and 10 Bitcoin from Black Pearl, generating revenue at an average price of approximately $99,700 per Bitcoin [37] - Black Pearl Phase 1 contributed about 2% of quarterly revenue, with expectations for significant growth in future quarters as production ramps up [24][37] Market Data and Key Metrics Changes - The average all-in electricity cost per Bitcoin produced at Odessa was approximately $24,686, while the combined all-in electricity cost for joint venture sites was roughly $44,594 [22][24] - The company’s projected all-in weighted average power cost remains competitive at $0.31 per kilowatt hour [8] Company Strategy and Development Direction - The company is focused on strategically evaluating funding options to support growth while minimizing dilution, having raised approximately $168 million in net proceeds from a convertible offering [12] - Black Pearl Phase 2 is being developed to support both hydro Bitcoin mining and HPC compute applications, with a flexible design to accommodate future tenant demands [15][19] - The company aims to capitalize on the growing demand for power and tightening supply in the HPC market, with ongoing discussions to secure advantageous deals [14][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term value of Barber Lake and the potential for Black Pearl Phase 2, highlighting the increasing energy demands of advanced AI systems [14][18] - The company anticipates that the demand for energy will continue to grow, positioning itself to support tenants as the HPC market scales [19][21] Other Important Information - The company successfully paid off all short-term borrowings, reducing its liabilities significantly from $139 million in Q1 to $53 million in Q2 [46][48] - The company’s operating capacity currently stands at 477 MW, with potential pipeline capacity expansion of up to 2.6 GW in the coming years [10] Q&A Session Summary Question: Can you quantify the time to convert from hydro Bitcoin mining to AI HPC compute? - The company expects to have the full 150 megawatts ready by the back half of next year, with the ability to accommodate fast requests for HPC [51][53] Question: What would trigger hyperscalers to choose an operator in your peer set? - There has been increased interest from hyperscalers, particularly in July, with many reaching out for discussions [57][59] Question: What are the potential differences in costs affiliated with the hybrid model compared to a pure mining site? - The estimated cost for the hybrid model is about $1.5 million per megawatt, with additional costs depending on tenant requirements [63][65] Question: What sites are being actively marketed for HPC? - The primary focus is on Barber Lake, Black Pearl Phase 2, and Stingray, with ongoing discussions with potential tenants [87][89]

Bitcoin miner Greenidge to sell Mississippi facility for $3.9 million amid financial strain and Trump's latest tariff overhaul https://t.co/E0gV1H3wCM ...

Core Insights - IREN Limited reported record monthly revenue of $86 million and hardware profits of $66 million in July 2025, driven by strong Bitcoin mining economics and demand for AI Cloud services [7][5][11] Bitcoin Mining Performance - Average operating hashrate increased to 45.4 EH/s in July from 41.1 EH/s in June [4] - Total Bitcoin mined rose to 728 BTC in July, up from 620 BTC in June [4] - Revenue per Bitcoin mined increased to $114,891 from $105,730 [4] - Net electricity cost per Bitcoin mined was $27,976, compared to $26,259 in June [4] - Total revenue from Bitcoin mining reached $83.6 million, up from $65.5 million in June [4] - Hardware profit from Bitcoin mining was $63.3 million with a profit margin of 76%, slightly up from 75% in June [4] AI Cloud Services - Revenue from AI Cloud services was $2.3 million, a slight increase from $2.2 million in June [6] - Hardware profit for AI Cloud services was $2.3 million with a consistent profit margin of 98% [6] - The company expanded its AI Cloud capabilities with the addition of 2,400 NVIDIA B200/B300 GPUs and completed the initial shipment of B200 GPUs [5][11] Infrastructure and Growth Initiatives - The 50MW Horizon 1 liquid-cooled AI data center is on track for completion in Q4 2025 [5] - Mackenzie fiber upgrade has been completed, enhancing network redundancy and supporting AI Cloud growth [5][11] - Civil and electrical works for the 1,400MW Sweetwater 1 project are ongoing [5] Management Commentary - Management highlighted the adaptability of their infrastructure to run ASICs and GPUs side-by-side, capturing market opportunities [8] - The company is experiencing accelerating interest in newly procured Blackwell GPUs, with significant contracts already in place [8][11]