Core Viewpoint - Bitdeer Technologies Group has reported significant operational updates for July 2025, highlighting a 35% increase in self-mining hashrate and advancements in infrastructure and technology development [1][5][7]. Operational Update - The self-mining hashrate increased to 22.3 EH/s, with a target of reaching 40 EH/s by the end of October 2025 [1][5]. - A total of 159 MW has been energized in Bhutan and Norway, and the hydro-cooling conversion in Rockdale, Texas has been completed [1][7]. Self-Mining Performance - The company mined 282 Bitcoins in July 2025, representing a ~39% increase from June 2025 due to higher average self-mining hashrate [6]. - The total hash rate under management rose to 36.4 EH/s, up from 30.6 EH/s in June 2025 [8]. Mining Rig Manufacturing and R&D - SEALMINER A1 has been energized to 4.1 EH/s, while SEALMINER A2 has a total of 21.2 EH/s manufactured, with 0.4 EH/s in final assembly [6]. - The company is preparing for mass production and commercial launch of SEALMINER A3, with R&D efforts now focused on the next-generation SEAL04 architecture targeting 5 J/TH efficiency [5][6]. Infrastructure Development - The total available electrical capacity globally has reached 1,257 MW, with ongoing projects in various locations including Rockdale, Texas, Tydal, Norway, and Jigmeling, Bhutan [7][10]. - The construction of a 221 MW site in Massillon, Ohio is underway, with an adjusted energization timeline to the end of Q1 2026 [13]. Future Plans - The company is in advanced negotiations for a development partner regarding its Clarington, Ohio site, and is evaluating further deployment of GPU cloud services [6][7]. - Upcoming projects include a 50 MW Bitcoin mining project in Ethiopia expected to be energized in Q4 2025 [15].

Financial Data and Key Metrics Changes - In Q2 2025, the company mined 7.18 Bitcoin with a direct cost of $48,200 per Bitcoin, achieving revenues of $98,000 per Bitcoin [6][37] - Total revenue for the quarter was $78 million, representing an 87% year-over-year increase, with mining activities contributing $71 million [37] - The gross mining profit was $32 million, resulting in a direct mining margin of 45% [37] - The company reported a net loss of $29 million for the quarter, which included $15 million in impairment charges related to operations in Argentina [38] Business Line Data and Key Metrics Changes - The company completed its Bitcoin mining growth plans by installing over 12,000 miners across all facilities [6] - Free cash flow from mining operations is approximately $8 million per month, with Bitcoin holdings increasing to approximately 1,200, up 25% from the end of 2024 [11][26] - The average electricity price improved by 2%, and direct hash costs improved by 5% [8] Market Data and Key Metrics Changes - The company is positioned as a major player in the North American market, particularly in Quebec and Pennsylvania, with significant investments from major tech firms in nearby data centers [12][18] - The Pennsylvania portfolio is expected to benefit from a surge in data center investments, with commitments exceeding $90 billion from companies like Google and Meta [18] Company Strategy and Development Direction - The company is transitioning from Bitcoin mining to focus on high-performance computing (HPC) and AI, leveraging its energy portfolio [6][12] - Plans to convert Canadian Bitcoin mining megawatts to HPC data center megawatts are in progress, pending regulatory approval [15][61] - The company aims to become a US-domiciled entity by 2026, which is expected to enhance its access to US capital markets and improve operational efficiencies [24][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate strong cash flows from Bitcoin mining while transitioning to HPC and AI [26] - The company anticipates that the market is undervaluing both its Bitcoin business and HPC potential, leading to the initiation of a stock buyback program [26][27] - Management highlighted the importance of the upcoming 2026 power availability for attracting customers to the Panther Creek site [50] Other Important Information - The company has secured a financing agreement with Macquarie for up to $300 million to fund the Panther Creek HPC data center project [28][29] - The company plans to execute a stock buyback program for up to $49.9 million, funded by excess cash flow from mining operations [32][27] Q&A Session Summary Question: What is the game plan for getting construction procurement lined up for Panther Creek? - The company is engaging T5 to manage the development process, including securing permits and overseeing contractors [45] Question: What is the total CapEx for the Panther Creek project? - The total build-out cost is estimated to be around $400 million, with $10.5 million planned for the remainder of 2025 [47] Question: How does the demand for larger data center campuses affect Panther Creek's strategy? - The company is seeing increased demand for larger campuses, but immediate power availability in 2026 is a priority for potential customers [50] Question: What is the expected timeline for the Macquarie credit facility approval process? - The approval process is expected to take a couple of months, with the company having sufficient liquidity to fund current expenditures [67] Question: How is the company planning to manage share buybacks going forward? - The company anticipates continuing share buybacks based on cash flow generation from Bitcoin mining activities [70] Question: What is the expected revenue per megawatt for the Panther Creek site? - The company is not ready to commit to specific revenue figures as it depends on customer conversations and agreements [81]

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]