New Record Global Bitcoin Mining Hashrate990,000,000,000,000,000,000x per second https://t.co/yCUOR5uWM8 ...

Group 1 - Core CPI remains steady while jobless claims reach the highest level since October 2021 [1] - Galaxy Digital's stock has improved its Relative Strength Rating from 65 to 83, indicating strong performance [1] - Bitdeer Technology also achieves an 84 RS Rating, reflecting positive market sentiment [2] Group 2 - Iren's stock experiences a 15% increase following earnings reports and updates on Bitcoin mining and AI cloud initiatives [4] - Iren's Composite Rating climbs to 96, showcasing its strong market position [4] - Nasdaq plans to invest $50 million in Gemini, indicating ongoing interest in tokenized trading [4]

Summary of Conference Call on Bitcoin Mining and HPC Industry Industry Overview - The conference focused on the Bitcoin mining and high-performance computing (HPC) sectors, highlighting the evolution of business models and the integration of AI technologies into data center operations [2][4][72]. Key Companies Discussed 1. **CleanSpark** - Operates 50 exahash across 33 data centers in four states [6]. - Transitioned into Bitcoin mining through energy management expertise, focusing on utility market opportunities [7][8]. 2. **Mara Holdings** - Controls approximately 1.7 gigawatts of power and operates 60 exahash [9]. - Shifted from an asset-light model to owning 70% of its operations, significantly reducing electricity costs [10][11]. 3. **Cypher Mining** - Developed five data centers with a capacity of 477 megawatts, producing about 23 exahash [14]. - Positioned to capitalize on the demand for large power interconnects due to the rise of AI and HPC [15][16]. 4. **Galaxy Digital** - Operates a digital asset business and a data center business, with $6 billion in assets under management [18]. - Transitioned its Helios site from Bitcoin mining to a traditional data center model, securing significant lease agreements [19][20]. 5. **Hut 8** - Merged with US Bitcoin Corp, focusing on energy infrastructure for technology [21][22]. - Holds about 1 gigawatt of capacity, with 90% contracted and 30% from owned power generation facilities [25]. 6. **Bit Digital / White Fiber** - Transitioned from Bitcoin mining to HPC, securing a $150 million contract and generating $100 million in annual revenue [30][31]. - Recently IPO'd White Fiber, focusing on AI and HPC services [32]. Core Insights and Arguments - **Energy Management**: Companies are leveraging their expertise in energy management to optimize Bitcoin mining operations and reduce costs [7][10][11]. - **HPC Demand**: The rise of AI and HPC is creating new opportunities for data centers, with companies pivoting to meet this demand [15][72]. - **Cost Efficiency**: Many companies are focusing on reducing operational costs through innovative energy solutions, such as utilizing low-cost renewable energy sources [10][11][49]. - **Market Positioning**: Companies are positioning themselves to capture market share by securing large power contracts and developing data centers that can accommodate both Bitcoin mining and HPC needs [15][19][20][67]. Additional Important Points - **Talent Acquisition**: The importance of attracting skilled personnel in the energy and technology sectors is emphasized as a key asset for companies [44][46][51]. - **Long-term Strategy**: Companies are focusing on long-term growth strategies, including the development of new sites and innovative infrastructure to meet future demand [63][67]. - **National Security**: The role of Bitcoin mining in national security is highlighted, with concerns about foreign ownership of data centers and energy assets [82][83]. - **Market Evolution**: The industry is expected to evolve with increasing demand for AI and HPC, necessitating innovative approaches to data center operations and energy management [72][88]. This summary encapsulates the key discussions and insights from the conference, reflecting the current state and future outlook of the Bitcoin mining and HPC industries.

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Core Insights - BitMine is a leading Ethereum treasury company that is fully compliant with NYSE standards and was listed on July 8, 2025 [1] - The company can issue shares through its existing shelf registration without needing shareholder approval [1][2] - BitMine's operations focus on accumulating crypto for long-term investment, including Bitcoin mining and advisory services [3] Company Operations - BitMine operates in low-cost energy regions, specifically in Trinidad, Pecos, Texas, and Silverton, Texas [3] - The company engages in Bitcoin mining, synthetic Bitcoin mining, and offers advisory services to companies interested in earning Bitcoin-denominated revenues [3] Regulatory Environment - NASDAQ has increased scrutiny on crypto treasury companies, requiring shareholder approval for certain share issuances related to crypto [2] - BitMine is not affected by these NASDAQ requirements due to its existing NYSE approval and the completion of its PIPE transaction [3]

Financial Data and Key Metrics Changes - The company reported total revenue of RMB 1 billion in Q2 2025, with Bitcoin mining contributing RMB 989.4 million [3][10] - The company incurred a net loss of RMB 2.1 billion, primarily due to a one-off loss from discontinued operations and non-cash impairment loss [11] - Adjusted EBITDA for the quarter was RMB 710.1 million, a significant increase from RMB 5.4 million in the same period last year [11] Business Line Data and Key Metrics Changes - Bitcoin mining produced 1,404.4 Bitcoins in Q2 2025, with an average cash cost of $83,091 per coin and all-in costs at $98,636 per coin [10][11] - Revenue from automobile trading was RMB 12.4 million, indicating a minor contribution compared to Bitcoin mining [10] Market Data and Key Metrics Changes - The company achieved a hash rate of 50 exahash, representing approximately 6% of the global Bitcoin network's hash rate as of June 30, 2025 [4] - Bitcoin production in July reached 650.5 BTC, a 44.4% increase from June, driven by the full deployment of mining equipment [4] Company Strategy and Development Direction - The company has transformed into a leading Bitcoin mining company and aims to maximize value from its current mining capacity while exploring renewable energy storage projects [2][6] - The strategic focus includes selective acquisition of low-cost mining sites and enhancing operational efficiency [16][22] - The company plans to build a dynamic computing platform that balances Bitcoin mining and AI workloads [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's future, emphasizing the importance of strategic decisions made during the transformation [2][8] - The company is focused on maintaining a fortress balance sheet with $118 million in cash and cash equivalents as of June 30, 2025, to fund strategic expansion [5] Other Important Information - The company plans to change its reporting currency from RMB to US dollars starting from Q3 2025, reflecting its revenue profile post-divestiture of its China asset [12] - The legacy business, AutoCango.com, has attracted over 6 million visits and surpassed 456,000 registered users, indicating growth potential in the used car export platform [8] Q&A Session Summary Question: Roadmap for computing power and capital expenditure plans - The company aims to fully unlock the value of its 50 exahash computing power by improving operational efficiency and selectively acquiring mining sites with low electricity costs [16][17] Question: Update on green energy and storage progress - The company is pursuing M&A targets globally for rapid deployment and investing in pilot projects with experienced partners [18] Question: Shift towards integrated operations - The company clarified that acquiring mining sites is about stable energy supply and operational expertise, not solely cost reduction [21][22] Question: Maintaining computing power market share - The company focuses on optimizing computing power efficiency and has established a unique asset-led model for rapid, low-cost mining capacity expansion [27] Question: U.S. infrastructure investment and policy risks - The company monitors policy changes and has local compliance teams to mitigate risks, noting that most computing power-friendly states have no restrictive policies [29] Question: Expected cost profile as the year ends - The company anticipates improvements in cost metrics due to increased scale and efficiency, but also acknowledges upward pressure on mining costs across the sector [33] Question: Stock repurchase plans - The company prioritizes cash for operational expansion while considering share repurchase programs to create long-term value for shareholders [34]

Core Viewpoint - American Bitcoin Corp. has significantly increased its Bitcoin mining capacity, enhancing its ability to accumulate Bitcoin at a structural discount compared to market prices, thereby reinforcing its cost advantage over purchase-only treasury vehicles [1][4]. Group 1: Company Expansion and Capacity - The company has acquired approximately 14 exahash-per-second (EH/s) of installed hashrate, raising its total from around 10 EH/s to approximately 24 EH/s, with an average fleet efficiency of about 16.4 joules per terahash (J/TH) as of September 1, 2025 [1]. - The new miners are deployed at the 205-megawatt Vega data center, developed and operated by Hut 8, which features next-generation ASIC architecture and direct-to-chip liquid cooling [2][6]. Group 2: Cost Efficiency and Strategy - The company reported that in Q2 2025, its cost of revenue per Bitcoin mined was approximately 50% of its revenue per Bitcoin mined, indicating a strong cost efficiency in its mining operations [4]. - The dual strategy of mining and disciplined accumulation is aimed at producing Bitcoin at scale for significantly less than market prices, positioning the company for superior long-term Bitcoin-per-share growth [4][5]. Group 3: Infrastructure and Technology - American Bitcoin's strategy includes preferential access to next-generation ASIC compute infrastructure, which is central to maintaining a structural cost advantage [5]. - The deployment of high-density ASIC servers at the Vega data center supports the company's goal of maximizing Bitcoin production per unit of power and per dollar of infrastructure investment [6].

据最新消息，American Bitcoin在开盘后不久触发波动性临时停牌，停牌前上涨31%，报9.04美元/股。随后，American Bitcoin涨幅扩大至90%，再度触发停 牌，报13.2美元/股。截至收盘，American Bitcoin股价报8.04美元/股。 | us American Bitcoin Corp-A (Ai) [2 Q く 気 ABTC | | --- | | 8.040 今开 9.220 最高 14.520 最低 6.700 | | 0.62% 总量 3059万股 金额 2.91亿 16.52% 1.140 狭手 | | 昨收 6.900 总值 395.8亿 市盈™ -2317.03 更多 | | DE OAEO 0 440 E 400/ 00.00 == = = | 本文字数：1060，阅读时长大约1.5分钟 来源：第一财经 2025.09.04 由特朗普的两个儿子支持的比特币矿企"American Bitcoin"在完成与数字矿业公司Gryphon Digital Mining的合并后，于当地时间周三在纳斯达克证券交易所 挂牌交易。合并后的新公司使用的股票代码为"ABTC" ...

与美国总统特朗普有关的比特币矿商American Bitcoin(ABTC.US)周三首次在美挂牌上市，盘中股价一度 飙升110%报14.52美元，盘中因波动性过大而多次临时停牌，尾盘还一度轻微倒跌，最终收涨16.52%， 报8.04美元。在目前的夜盘交易中，该股再度涨近7%报8.59港元。 根据美国证券交易委员会(SEC)文件，American Bitcoin申请于9月3日以市价发行21亿美元股票。 American Bitcoin早前透过与同业Gryphon Digital Mining合并进行IPO，由特朗普儿子Eric Trump担任联 合创始人兼首席策略官，特朗普另一名儿子Donald Trump Jr.亦是持股股东，该公司主要由Hut 8拥有。 ...

The Trump family keeps leaning into crypto. The latest example: A bitcoin mining company linked to Eric Trump and Donald Trump Jr., American Bitcoin, on Wednesday listed on the Nasdaq exchange under the ticker "ABTC." https://t.co/PUosiuTotz ...