Core Insights - Hyperscale Data's Bitcoin treasury amounts to approximately $60 million, representing about 66% of its market capitalization as of October 20, 2025 [1] - The company aims to accumulate Bitcoin equal to 100% of its market capitalization as part of a broader $100 million digital asset treasury strategy [1] Bitcoin Holdings - Sentinum, a wholly owned subsidiary, holds approximately 150.2189 Bitcoin, valued at around $16.3 million based on the Bitcoin price of $108,666 on October 19, 2025 [2] - The Bitcoin holdings consist of 32.6321 Bitcoin from mining operations and 117.5868 Bitcoin acquired from the open market, including 15.8800 Bitcoin purchased in the week ending October 19, 2025 [2] Cash Allocation and Strategy - Hyperscale Data has allocated $43.7 million in cash for Sentinum to invest in open-market Bitcoin purchases [3] - The company employs a disciplined dollar-cost averaging strategy to mitigate short-term market volatility while building its long-term reserve position [3][4] Market Approach - The company targets investing at least 5% of allocated cash each week, with daily purchases varying based on market conditions [4] - Weekly reports detailing Bitcoin holdings will be issued every Tuesday morning as the company progresses towards its $100 million digital asset treasury target [5] Future Plans - The company expects to divest Ault Capital Group in the second quarter of 2026, focusing on data center operations and digital asset holdings post-divestiture [7] - Until the divestiture, the company will continue to provide mission-critical products across various industries, including AI, gaming, and medical sectors [7]

Core Viewpoint - CoreWeave's proposed acquisition of Core Scientific is viewed as a "nice to have" rather than a necessity, as shareholders may block the deal [1][3] Acquisition Details - CoreWeave proposed an all-stock deal valued at approximately $9 billion to acquire Core Scientific, which led to a nearly 18% drop in Core Scientific's stock price immediately after the announcement [1] - Institutional Shareholder Services (ISS) recommended that shareholders vote against the acquisition, indicating that some investors believe Core Scientific is worth more than the offered price [2] Shareholder Sentiment - Two Seas Capital, a significant shareholder of Core Scientific, publicly opposed the acquisition, arguing that the offered price is too low and expressing skepticism about shareholder acceptance of the deal [5] - Shareholders are set to vote on the acquisition on October 30 [5] Company Strategy - CoreWeave has been actively pursuing acquisitions in 2023 to expand its AI-related offerings, having acquired firms like OpenPipe, Weights & Biases, and Monolith [6] - The company has been capitalizing on the growing demand for AI investments and has built data centers to provide Nvidia-powered computing power to major clients like Microsoft [6]

Market Overview - US stocks are starting the week positively, with the Dow up approximately 280 points, driven by anticipation of upcoming earnings reports and a lack of negative news on the trade front [2][3] - The S&P 500 is up about 0.75%, while the NASDAQ is leading with a gain of around 1% [3][4] - Low bond yields are noted, with current yields at 3.99% [5] Crypto Market - Bitcoin has rebounded by approximately 2.8% after a recent sell-off that brought its price to the lowest since June [9] - Institutional adoption and regulatory approval are seen as potential catalysts for future growth in the crypto market [10][12] - The volatility in the crypto market is attributed to high leverage in offshore futures trading, which represents a significant portion of trading volume despite being a small fraction of total Bitcoin value [12][13][19] Apple iPhone Sales - Apple's iPhone 17 series has outperformed the iPhone 16 series by 14% in sales during the first 10 days of availability in the US and China [46] - The new product portfolio includes a low-cost model and innovative features, appealing to a broader range of consumers [48][50] - The strong replacement cycle for smartphones is contributing to Apple's sales success, with consumers upgrading their devices approximately every 3 to 3.5 years [50][51] Infrastructure Investment - Private investments in infrastructure have surged, reaching $500 billion in 2024, with projections to grow to $2 trillion by 2030 [32] - The demand for capital in infrastructure is driven by various sectors, including energy transition and digital infrastructure, particularly data centers [37][38] - The need for public policy and regulation is emphasized as essential for the growth of the infrastructure asset class [38][40] Utility Sector Dynamics - Electricity demand growth in the US has been largely driven by data centers, accounting for over 90% of the increase in demand [108][109] - Rising electricity prices have led to public pushback against data center construction, which may influence future utility agreements [110][111] - Integrated utility providers are seen as more favorable investments due to their ability to manage supply and demand effectively [113]

Google was planning a $1 billion spend on a data center in Indianapolis. There was enough push back and so I think to avoid what would have been an awkward press cycle, Google just pulled it. In this same week, it happened two other times.In Wisconsin, there was a proposal very similar to Google's, but this time from Microsoft, and in the 11th hour, Microsoft pulled it. And then in the third example, there was an attempt by an Amazon data center to get built near Tucson that I think also was mothball. I do ...

Core Insights - Bitfarms, a Toronto-based bitcoin miner, has shifted its focus to high-performance computing (HPC) and artificial intelligence (AI) data centers, which are expected to yield higher profits compared to traditional bitcoin mining [3][9] - The company's stock has surged 211% this year, driven by investor interest in its transition to AI data centers [2][13] - Analysts indicate that the market is currently valuing bitcoin miners primarily based on their HPC/AI opportunities rather than traditional bitcoin mining [4][12] Company Strategy - Bitfarms has recently converted a $300 million credit facility to fund the development of an HPC/AI data center in Pennsylvania, indicating a strong commitment to this new direction [6][7] - The company is positioning itself to capitalize on the growing demand for AI infrastructure, with Pennsylvania emerging as a key hub for such developments [8][9] - The shift to AI is a response to the challenges posed by bitcoin halving, which has reduced mining profitability and prompted miners to seek more efficient energy utilization [10][11] Financial Performance - Despite a reported 87% increase in revenue in the most recent quarter, Bitfarms faced a net loss of $40 million, highlighting significant financial challenges [17] - The company has burned through $431 million in free cash flow over the last 12 months, with only $144 million in cash remaining as of June 2025 [17] - Bitfarms issued $500 million in convertible senior notes due 2031 to support its transition to HPC/AI, alongside the $300 million financing for the Panther Creek project [13] Market Position and Competition - Bitfarms competes with larger players in the AI sector, such as Amazon, Google, and Oracle, which may impact its long-term growth prospects [17] - The company must secure long-term contracts to ensure profitability in its AI data center investments, facing competition from rivals that utilize cheaper energy sources [17] - Analysts suggest that Bitfarms' stock may be overvalued, with an average price target indicating a 12% overvaluation [15]

Core Insights - Uniti Wholesale is expanding its presence on the West Coast with a new data center at MDC San Diego, enhancing connectivity between the U.S. and Mexico's digital economies [1][3] - The integration of Uniti's Intelligent Converged Optical Network (ICON) with MDC's Actively Neutral™ platform will provide customers with scalable Ethernet services and high-capacity wavelengths [1][4] - This expansion aims to improve cross-border connectivity, offering diverse and resilient pathways for U.S.-Mexico traffic [4][5] Company Expansion - Uniti Wholesale's entry into MDC San Diego is a strategic move to meet the growing demand for high-capacity transport between Southern California and Baja California [4] - The new data center is positioned near key border crossings, facilitating substantial traffic from western Mexico and the Baja Peninsula [3] - Services at MDC San Diego are immediately available for qualifying customers, with tailored designs and service quotes offered for cross-border requirements [6] Infrastructure and Technology - MDC San Diego is the first 100% carrier-neutral border-crossing data center in Southern California, enhancing the value of MDC's BorderConnect Platform™ [3][9] - The ICON Network's integration at MDC San Diego provides customers with diverse, resilient long-haul pathways optimized for performance [4][5] - Uniti Wholesale's network supports connections to key U.S. data centers and international access points, linking Central America to Europe [4]

As filed with the Securities and Exchange Commission on October 20, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Galaxy Digital Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Delaware 6211 87-0836313 (I.R.S. Employer Identification Number) 300 Vesey Street New ...

Kyle = @cobie of metalsDiscovering more copper maxis daily:🏴‍☠️ (@calvinfroedge):They are literally telling you they're going to spend trillions of dollars by the end of the decade building data centers.What's the #1 ingredient in a data center? COPPER.Instead of speculating on AI stocks, acquire thousands of tons of US nickels.MAKE THEM PAY YOU https://t.co/VSOureQqN2 ...

Core Viewpoint - Brookfield Corporation is positioning itself to capitalize on the significant investment opportunity in AI infrastructure, estimating a need for $7 trillion in related investments over the next decade [1][5]. Investment Strategy - The company plans to invest heavily across all aspects of AI infrastructure development, including data centers and renewable power, to ensure robust growth and strong returns [2][11]. - Brookfield aims to leverage its expertise in real estate, infrastructure, power, and capital solutions to support the buildout of AI infrastructure [11]. Infrastructure Requirements - AI technology requires specialized infrastructure, including data centers equipped with GPUs, CPUs, and advanced cooling systems, necessitating substantial capital investment [4][5]. - The estimated spending on AI infrastructure is projected to exceed $1 trillion by the end of 2029, with hyperscalers increasing their capital expenditures by 50% to $400 billion this year due to the high computing power demands of AI workloads [5]. Brookfield's Capabilities - Brookfield Infrastructure has a global data infrastructure platform with investments in over 300,000 telecom towers, two semiconductor manufacturing foundries, and more than 140 operating data centers with over 1.7 gigawatts of contracted capacity [7]. - The company has the potential to develop an additional 3.6 gigawatts of data center capacity, representing a 50% increase from its current development potential [7]. Renewable Energy Contributions - Brookfield Renewable is becoming a key partner in supplying renewable energy to support AI infrastructure, with significant agreements with major tech companies like Google and Microsoft for carbon-free power [8]. - The company signed a hydro framework agreement with Google to potentially supply up to 3 gigawatts of hydropower and a corporate power deal with Microsoft to deliver 10.5 gigawatts of renewable power by 2030 [8]. Future Growth Potential - Brookfield Corporation sees the potential to invest $200 billion in building AI factories across North America and Europe, believing that AI infrastructure will become the largest business within its platform [9]. - The company anticipates achieving 25% annualized earnings-per-share growth over the next five years due to its investments in AI infrastructure [10].

Market Overview - The market has shown surprising strength despite various challenges such as government shutdowns, tariffs, and geopolitical tensions, driven largely by an AI-driven bull market [4][5][18]. - The sentiment among investors is shifting towards a more optimistic view, with many focusing on the potential for continued growth rather than the risks [18][24]. Investment Opportunities - The technology sector, particularly companies involved in AI and utilities, is highlighted as a key area for capturing alpha [6][7]. - Small-cap stocks, particularly those in the Russell 2000, are gaining attention as they are tied to technology, industrials, and utilities, with notable performers like Credo Technology and Bloom Energy [10][11]. Economic Data and Market Sentiment - Economic data has been puzzling, with mixed signals regarding job markets and consumer behavior, leading to uncertainty among investors [48][50]. - The lack of key economic reports due to the government shutdown is causing complacency among investors, who are not as concerned as expected [56][60]. Earnings Growth - Earnings are expected to grow by 8% year-over-year in the third quarter, with estimates suggesting a potential 13% growth, indicating strong underlying support for the current market highs [81][82]. ETF Market Dynamics - The ETF market is experiencing a surge, with 115 launches in September, reflecting a bullish sentiment among ETF managers [33][34]. - ETFs are seen as a good way for retail investors to gain diversification, especially in sectors like uranium, which has seen significant growth [75][76]. Gold Market Insights - Gold has been rallying, attracting retail investors looking for diversification, although its long-term performance compared to equities is questioned [67][70][72]. Government and Geopolitical Factors - The government's support for companies like Intel is noted, but investing solely based on government backing is seen as speculative [73][74]. - The geopolitical landscape, particularly regarding China and tech, remains a concern for investors [73].