Financial Data and Key Metrics Changes - For Q2 2025, total revenue was $1,900,000, down from $2,400,000 in Q1 2025, primarily due to lower Bitcoin production and curtailments during peak summer months [11] - The average Bitcoin price in Q2 2025 was approximately $98,100, compared to $93,600 in Q1 2025 [11] - Mining margins improved to 41% in Q2 from 38.5% in Q1, supported by the transition to a lower-cost facility [12] - Net income for Q2 was approximately $60,000, a significant improvement from a net loss of $5,400,000 in Q1 2025 [12] - Core EBITDA for Q2 was $2,600,000, compared to a negative $2,800,000 in Q1 2025 [12] Business Line Data and Key Metrics Changes - The company mined 18.4 Bitcoin in Q2, a slight decrease from Q1 due to miner relocations and curtailments [7] - The strategic transition to a fully integrated model allowed for curtailment and energy sales to generate approximately $223,000 in Q2, offsetting lower Bitcoin production [7] Market Data and Key Metrics Changes - The company ended Q2 with 155.5 Bitcoin valued at $16,700,000, translating to about $3.25 Bitcoin per share based on June 30 prices [8] - By the end of July, Bitcoin holdings decreased to 150.4 Bitcoin valued at $17,800,000, or $3.46 per share [8] Company Strategy and Development Direction - The acquisition of an 11 megawatt Bitcoin mining site in Mississippi for $3,900,000 is expected to enhance the company's capacity to 26 megawatts, accelerating growth and maximizing ROI [5][14] - The company is focused on vertical integration to reduce power costs and optimize fleet efficiency, with plans for further expansion in Oklahoma [9][14] - The company remains committed to its Bitcoin treasury strategy, emphasizing long-term accumulation despite market volatility [15][16] Management's Comments on Operating Environment and Future Outlook - Management expects curtailment revenue to trend lower as seasonal temperatures moderate, leading to increased Bitcoin production and fleet efficiency [15] - The company highlights a disconnect between its balance sheet and market value, with a net book value of $31,900,000 and a fully diluted market cap of $14,700,000 as of June 30 [16] Other Important Information - The company has made progress on a two megawatt immersion-based expansion in Oklahoma, expected to be completed by the end of the year [6] - The company strategically sold a portion of its Bitcoin holdings to support operations and fund expansion projects while maintaining a long-term accumulation strategy [12] Q&A Session Summary Question: Inquiry about the deployment of machines in Mississippi - The company confirmed that the total capacity will be 26 megawatts, with 11.5 megawatts in Oklahoma and 7 megawatts in Mississippi once operational [19][20] Question: Plans for new miner purchases - The company indicated that additional miners will need to be acquired to fill out the capacity in Mississippi, but specifics are not yet determined [21]

Core Insights - Cavitation Technologies, Inc. is expanding its proprietary Cavitation Non-Thermal Plasma™ system into the immersion cooling Bitcoin mining sector, addressing the growing need for clean and stable fluid systems in digital infrastructure [1][4] Industry Overview - The Bitcoin mining sector is experiencing a silent infrastructure crisis, as it relies heavily on stable, clean fluids for the operation of mining rigs and data centers [2] - Immersion cooling technology is becoming increasingly popular, projected to reach a market size of $51.8 billion, as it improves thermal efficiency and performance compared to traditional air-cooled systems [5] Challenges in the Sector - Immersion cooling has introduced new challenges, including degraded dielectric fluids, VOC contamination, hardware corrosion, and toxic fluid disposal issues, which are hidden costs of the mining boom [3][10] - The degradation of dielectric fluids can lead to overheating and reduced equipment lifespan, while VOC buildup can cause corrosion and hardware failures [10] Company Solution - The Cavitation Non-Thermal Plasma™ system offers a chemical-free, scalable solution to these challenges by regenerating fluids, eliminating contaminants, and maintaining operational efficiency [3][6] - Key features of the system include: - **Dielectric Fluid Regeneration**: Extends fluid life and maintains thermal performance without full replacement [6] - **Surface Decontamination**: Prevents corrosion and reduces electrostatic buildup on internal components [7] - **Chemical-Free Operation**: Reduces maintenance complexity and long-term wear on systems [7] - **On-Site Waste Fluid Treatment**: Supports ESG compliance and reduces logistics costs by treating used cooling fluids on-site [8] Strategic Expansion - The system is currently operating at 25 GPM and is scalable to higher flow rates, marking a strategic move for the company into the broader industrial fluid systems market supporting digital infrastructure [9][12] - The company is engaging with partners in the crypto-mining and data center sectors to initiate pilot deployments of the technology [9]

Technology & Cooling Solutions - INNOVATE™ advanced immersion cooling fluids aim to control thermal throttling [1] - The advertisement promotes a solution to address the issue of thermal throttling [1]

Core Insights - Super Micro Computer, Inc. (SMCI) has announced the certification of its BigTwin Server for immersion cooling, utilizing 4th and 5th Gen Intel Xeon Scalable Processors, enhancing performance and efficiency in data centers [1][6] Group 1: Certification and Collaboration - The Supermicro BigTwin server has undergone rigorous testing and is now recognized as a certified immersion server, ensuring compatibility with Intel's guidelines and the Open Compute Project (OCP) specifications [1][4] - Supermicro's long-standing collaboration with Intel combines advanced processor technologies with high-performance solutions, ensuring that the BigTwin server remains fully functional when immersed in specified liquids [2][4] Group 2: Efficiency and Environmental Impact - Immersion cooling technology significantly lowers Power Usage Effectiveness (PUE), with data centers using Supermicro immersion servers achieving PUE values close to 1.05 or lower, thus reducing energy costs and environmental impact [3][8] - The immersion cooling method allows for denser compute configurations without increasing thermal load, improving overall energy efficiency and reducing the need for traditional air-based cooling systems [3][5] Group 3: Industry Standards and Future Outlook - Supermicro's involvement in the OCP Community has been crucial in advancing immersion cooling standards, promoting compatibility, efficiency, and scalability across data center deployments [4][5] - The growing demand for immersion-certified servers is driven by the need for efficient cooling solutions in data centers, particularly for AI and HPC applications, which require powerful processors [8]

Core Insights - Super Micro Computer, Inc. (SMCI) has announced the certification of its BigTwin Server for immersion cooling, utilizing 4th and 5th Gen Intel Xeon Scalable Processors, which enhances performance and efficiency in data centers [1][6][8] Group 1: Certification and Collaboration - The Supermicro BigTwin server has undergone rigorous testing and is now recognized as a certified immersion server, ensuring compatibility with Intel's guidelines and the Open Compute Project (OCP) specifications [1][4] - Supermicro's long-standing collaboration with Intel combines advanced processor technologies with high-performance server solutions, enhancing customer confidence in the functionality of immersion-cooled systems [2][4] Group 2: Efficiency and Environmental Impact - Immersion cooling technology significantly lowers Power Usage Effectiveness (PUE), with data centers using Supermicro immersion servers achieving PUE values close to 1.05 or lower, thus reducing energy costs and environmental impact [3][8] - The immersion cooling method allows for denser compute configurations without increasing thermal load, leading to improved operational efficiency and reduced energy consumption compared to traditional air cooling [3][5] Group 3: Industry Standards and Future Outlook - Supermicro plays a critical role in the OCP Community, contributing to the development of immersion cooling standards that promote compatibility, efficiency, and scalability across data center deployments [4][5] - The growing demand for immersion-certified servers is driven by the need for efficient cooling solutions in data centers, particularly for AI and HPC applications that require powerful processors [8]