划重点 ① IREN 完成了美股市场最引人注目的战略转型之一：从受制于比特币周期的矿商，蜕变为专 注于 AI 算力基础设施的"公用事业公司"。这种身份的重塑，使其能够直接参与当前科技领域最 确定的长期趋势中，获得超乎寻常的关注与价值重估。 ② 在 AI 算力瓶颈从芯片转向电力和土地的背景下，IREN 的垂直整合模式为其带来结构性的低 成本优势和数年的先发优势。公司 2025 财年财报的扭亏为盈和 168% 的营收增长，正是其 AI 云业务极高"硬件利润率"和"重资产"经验成功嫁接的财务兑现。 ③ RockFlow 投研团队认为，IREN 的快速扩张恰逢 "AI 淘金热" 中供需最失衡的阶段。投资 IREN，就是以公用事业的稳健性和科技股的爆发力，押注当前 AI 基础设施领域最稀缺的算力 资源。 RockFlow 本文共3639字， 阅读需约13分钟 1. IREN 的蜕变：从比特币矿商到 AI 算力基础设施 IREN 的故事始于比特币挖矿领域。该公司由现任联席 CEO 的兄弟 Daniel Roberts 和 Will Roberts 于 2018 年在澳大利亚悉尼创立。当时，该公司 名为 Iris Ener ...

根据公司最新运营更新，Soluna 9月份自有挖矿算力达658 PH/s，高于8月份的526 PH/s，显示其挖矿能 力持续提升。公司指出，算力增长主要得益于设备升级及能源利用效率的改善。 除产量增长外，公司还在公告中披露多项重要进展，包括与纽约数字投资集团(NYDIG)达成和解、重新 符合纳斯达克持续上市规定、完成一项最高额度达1亿美元的信贷安排、与矿机制造商嘉楠科技 (CAN.US)达成战略合作协议等。 智通财经APP获悉，周二，美国数据中心开发商Soluna Holdings(SLNH.US)大涨超16%，报2.1美元，此 前公司公布9月份共挖掘8.7枚比特币，较8月份的7.4枚显著增加。 ...

格隆汇10月7日｜Iren、Bitfarms盘前涨超11%，Hive Digital Technologies涨近7%，TeraWulf涨超3%， CleanSpark、BitFuFu等跟涨。消息面上，因比特币价格近期创下新高推高了挖矿代币的价值，且挖矿商 正向人工智能数据中心领域多元化发展。 ...

2014年，钱志敏在天津成立了"蓝天格锐"公司，声称自己是归国的金融专家，掌握了比特币挖矿的核心技术，并且拥有国家专营权。为了塑造神秘而高端的 形象，她总是戴着粉色面纱或面具出场，坐轮椅、由他人抬着进场，给人留下"财富女神"的印象。 为了诱骗更多的大投资者，钱志敏甚至吹嘘自己与比特币创始人中本聪有过合作，并掌握币价的内幕信息。她的这些话术，让更多的投资者成为她的"猎 物"。从2014年到2017年，她通过这个骗局共吸引了430亿元资金，其中341亿元被用于支付早期投资者的虚假回报，制造出"稳赚不赔"的假象。 她的"高大上"形象不仅吸引了大量投资者，还要求投资者签署保密协议，交出手机，禁止拍照录像，进一步增加了神秘感。这一切的背后，钱志敏利用的是 一个"高额回报"的骗局，在短短三年内骗取了超过430亿元人民币，吸引了超过12万名投资者。 钱志敏的"秘诀"很简单：用"美好未来"的承诺麻痹投资者。她成立了空壳公司，联合朋友任江涛担任公司法人。任江涛被承诺月薪3万，并在三年后获得100 万元作为"背锅费"。这让他完全信任并紧跟钱志敏。 在对外推出的投资项目中，她承诺投资6万元，30个月后回报19万元，年化收益率高达3 ...

消息面上，德林控股推出一系列旨在激励和回馈集团董事、高阶管理层及员工的重要举措。包括公司控 股股东陈宁迪的股份转让、DSM股份奖励计划，以及公司拟根据2025年受限制股份奖励计划授出股份 奖励，三项安排合计动用1.2亿股公司股份，约占公司已发行股本的7%左右。同时，陈宁迪连同其配偶 江欣荣宣布自愿承诺12个月内禁售所持有的任何股份。 德林控股表示，近期在数字资产业务领域的多项策略布局稳步推进，此前透过配售及认购所融得的约 6.5亿元资金，已按计划有序投入各项核心业务发展中，包括购入顶尖比特币矿机，全面进军比特币挖 矿领域等。据悉，公司此前与Fortune Peak订立条款清单，拟收购2200台比特币矿机。 德林控股(01709)尾盘飙升逾15%，截至发稿，涨11%，报3.43港元，成交额3.54亿港元。 ...

比特币挖矿涉及高成本投入、电力消耗大，并且收益受比特币价格波动影响明显。同时，挖矿还存在设 备老化、网络故障及政策监管等不确定因素。本文旨在学习交流，不构成任何投资建议。 挖矿成本也不低： 矿机：专门设计的高效算力设备，常见有ASIC矿机。 矿池：个人矿工算力有限，可以加入矿池，集中算力共同挖矿，奖励按贡献分配。 挖矿软件：控制矿机并连接矿池。 电力与网络：持续运算耗电大，需要稳定网络环境。 1. 区块奖励：成功挖出区块获得新生成的比特币。 2. 交易手续费：区块内交易的手续费也归矿工所有。 电费：矿机24小时运行耗电巨大。 硬件折旧：矿机价格高，算力提升快，设备容易落后。 你可能听过"挖矿"这个词，但比特币挖矿到底是什么呢？简单来说，比特币挖矿就是用计算机去"解数 学题"，从而获得比特币奖励的过程。 比特币是一种去中心化的数字货币，没有银行或政府背书。所有交易都记录在区块链上，而每一个区块 都需要经过验证。这个验证过程，就是挖矿的核心：矿工们通过强大的计算能力竞争解出一个复杂数学 题，谁先解出来，谁就有权将新交易打包进区块，并获得比特币奖励。 这个过程不仅产生新的比特币，还保证了整个比特币网络的安全和可信性 ...

Core Viewpoint - Derin Holdings (01709) is making a strategic move to enhance its position in the digital asset market by acquiring 2,200 units of S21XP HYD Bitcoin mining machines for a total cost of approximately $21.85 million, which is expected to significantly boost its Bitcoin production capacity and diversify its revenue streams [1] Group 1: Acquisition Details - The company has entered into a term sheet with Fortune Peak for the proposed acquisition of Bitcoin mining machines [1] - The acquisition involves a total cost of $21.85 million for 2,200 units of S21XP HYD Bitcoin mining machines, with a total hash power of approximately 1.0406 million TH/s [1] - Payment for the acquisition will be made through a combination of convertible bonds, warrants, and profit shares [1] Group 2: Strategic Importance - This acquisition is a significant step towards establishing the company as a leading Bitcoin mining entity listed on the Hong Kong Stock Exchange [1] - The move aligns with the company's three-phase digital financial ecosystem strategy and previous fundraising plans aimed at expanding its digital financial business, including Bitcoin mining [1] - The company anticipates that the new mining machines will generate substantial Bitcoin revenue, contributing to its Bitcoin reserves, revenue diversification, and sustainable growth [1]

Core Viewpoint - Delin Holdings (01709) is set to acquire 2,200 units of S21XP HYD Bitcoin mining machines for a total consideration of approximately $21.85 million, marking a significant step towards becoming a leading Bitcoin mining company listed on the Hong Kong Stock Exchange [1] Group 1: Acquisition Details - The acquisition involves a total cost of $21.85 million for 2,200 S21XP HYD Bitcoin mining machines, which will provide a total hash power of approximately 1.0406 million TH/s [1] - The payment will be made through a combination of a convertible bond, warrants, and profit shares, including $21.85 million in convertible bonds, 40 million warrants, and 13.4425 million shares contingent on profit conditions [1] Group 2: Strategic Importance - This acquisition aligns with the company's three-phase digital financial ecosystem strategy and previous fundraising plans, which aim to expand its digital financial business, including Bitcoin mining [1] - The newly acquired mining machines are expected to generate substantial Bitcoin revenue, contributing to the company's Bitcoin reserves, revenue diversification, and sustainable growth [1]

Core Viewpoint - The company is set to acquire 2,200 units of S21XP HYD Bitcoin mining machines for a total cost of $21.8526 million, marking a strategic move to enhance its position in the digital asset market [1][2] Group 1: Acquisition Details - The acquisition involves a total cost of $21.8526 million, which will be paid through a combination of convertible bonds, warrants, and profit shares [1] - The total hash power from the acquired machines is approximately 1.0406 million TH/s, significantly boosting the company's mining capacity [1] Group 2: Strategic Alignment - The acquisition aligns with the company's three-phase digital financial ecosystem strategy and previous fundraising plans aimed at expanding its digital finance operations, including Bitcoin mining [2] - The expected Bitcoin yield from the new machines is anticipated to enhance the company's Bitcoin reserves, diversify income, and support sustainable growth [2] Group 3: Value Creation - The payment structure, which includes convertible bonds, warrants, and profit shares, is linked to operational performance and market incentives, promoting ongoing value creation in the Bitcoin mining business [2] - The board believes that successful completion of the acquisition will strengthen the company's competitive position in the digital asset sector and create lasting value for shareholders [2]

Group 1 - The company has entered into an agreement with Fortune Peak to acquire 2,200 units of S21XP HYD Bitcoin mining machines for a total cost of $21.8526 million, which will enhance its mining capacity to approximately 1.0406 million TH/s [1][2] - The payment structure for the acquisition includes convertible bonds, warrants, and profit shares, which are linked to operational performance and market incentives, promoting sustainable value creation in the Bitcoin mining business [2] - The acquisition aligns with the company's three-phase digital financial ecosystem strategy and previous fundraising plans, aimed at expanding its digital financial operations, including Bitcoin mining [2] Group 2 - The company aims to increase its Bitcoin production capacity through this acquisition, thereby enhancing the proportion of digital assets on its balance sheet and improving asset diversification and risk resilience [1] - The board believes that if the acquisition is successful, it will strengthen the company's competitive position in the digital asset sector and support long-term business development, ultimately creating lasting value for shareholders [2]