You can see shares of strategy popping a bit up nearly 7%. I can't say the same for American Bitcoin Corp. The ticker there is a BTC that, of course, was founded by Eric Trump. You had a story out today about the share move and it is staggering.Shares down about 39% at the moment. What's going on there. Yes, so American bitcoin there, a bitcoin miner that spun out of hot eight Corp and this was co-founded, like you mentioned by Eric Trump.Donald Trump Jr is also a shareholder and their main focus is just mi ...

Core Insights - CleanSpark, Inc. (CLSK) is transitioning from Bitcoin mining to a diversified digital infrastructure model, with a focus on AI and high-performance computing (HPC) by 2025 [2][4] - The company possesses a significant electricity and land portfolio of 1.3 gigawatts across the U.S., which is increasingly valuable due to rising demand for computing power [3] - CleanSpark aims to establish a "digital infrastructure platform" to meet the growing demand for AI computing, expecting AI data centers to provide stable, high-margin revenues [4] Company Strategy - CleanSpark's fiscal 2025 roadmap outlines a structured expansion plan through 2026-2028, focusing on portfolio scaling, large-scale commissioning, tenant diversification, and multi-campus development [5] - The global HPC market is projected to grow from $57 billion in 2024 to $87.31 billion by 2030, presenting a timely opportunity for CleanSpark's expansion [5] Competitive Landscape - CleanSpark faces increasing competition from Marathon Digital (MARA) and Cipher Mining Inc. (CIFR), both of which are enhancing their AI and HPC capabilities [7] - Marathon Digital is acquiring a controlling stake in Exaion to accelerate its AI and HPC expansion, leveraging its global data-center footprint [8] - Cipher Mining is also expanding into AI and HPC, securing long-term contracts with major players like AWS and Fluidstack, which positions it strongly in the market [9] Financial Performance - CleanSpark's shares have increased by 48.9% year-to-date, contrasting with a 7.3% decline in the Zacks Finance – Miscellaneous Services industry [10] - The Zacks Consensus Estimate for CleanSpark's fiscal 2026 revenues is projected at $858.9 million, reflecting a year-over-year increase of 12.1% [6] Valuation Metrics - CleanSpark trades at a forward price-to-sales ratio of 4.05, which is higher than the industry average of 3.18 [14] - The Zacks Consensus Estimate for CleanSpark's fiscal 2026 earnings is currently at 33 cents per share, indicating a 53.5% decline compared to the previous year [17]

Core Insights - Cipher Mining Inc. (NASDAQ:CIFR) experienced a significant drop in share prices by 10.41% to close at $17.64 after a 40% gain the previous week, indicating profit-taking by investors [1] - The stock had previously surged to $20.35, marking a 44% increase from the prior week, which also led to profit-taking [2] - The company announced plans to redeem outstanding warrants for $0.01 each until December 26, 2025, with unexercised warrants becoming void after the deadline [3] Financial Performance - In Q3, Cipher Mining reduced its net loss by 96% to $3.28 million from $86.75 million year-on-year, showcasing significant improvement in financial health [4] - Revenues increased by 197% to $71.7 million compared to $24.1 million in the same quarter last year, indicating strong growth [4]

Core Viewpoint - American Bitcoin's stock price experienced a significant decline of 39% due to selling pressure from early investor share unlocks, indicating volatility in the market following the release of pre-merger shares [1]. Group 1: Share Unlocks and Market Impact - The pre-merger private placement shares unlocked on December 2, allowing early investors to cash in for the first time, contributed to the stock's volatility [1]. - American Bitcoin closed a $220.1 million unregistered private equity placement on June 27, 2025, but SEC filings did not specify any lock-up periods for investors, leading to uncertainty regarding which specific shares were unlocked [2]. - The first major unlock of pre-merger shares occurred on December 2, involving early investors who supported American Bitcoin months prior [2]. Group 2: Company Background and Market Context - American Bitcoin went public on Nasdaq on September 3, 2025, after completing a reverse merger with Gryphon Digital, with Hut 8 holding an 80% stake in the company [3]. - The selloff of American Bitcoin's shares coincided with a broader decline in bitcoin-related equities, with many major bitcoin mining stocks experiencing a drop of 20-40% month-over-month [4].

Core Insights - CleanSpark, Inc. reported significant growth in its Bitcoin mining operations, producing 587 Bitcoin in November 2025 and increasing contracted power by nearly 11% to over 1.4 GW [1] - The company announced transformative fiscal year 2025 results with revenues exceeding $766 million [1] - CleanSpark successfully closed a $1.15 billion zero-coupon convertible notes offering, which included repurchasing approximately 30.6 million shares for $460 million [1] Financial Performance - Fiscal year 2025 revenue reached over $766 million, indicating strong financial performance [1] - The company produced a total of 7,124 Bitcoin in calendar year 2025 [1] - Total Bitcoin holdings as of November 30, 2025, were 13,054, with 2,374 Bitcoin posted as collateral [1] Operational Highlights - CleanSpark's operational hashrate reached 50 EH/s, with an average operating hashrate of 47.4 EH/s [1] - The peak single-day Bitcoin production was recorded at 20.44 Bitcoin, with an average daily production of 19.54 Bitcoin [1] - The deployed fleet consisted of 246,104 miners, achieving peak efficiency of 16.07 J/Th [1] Power and Infrastructure - The company has a power portfolio of 1.45 GW under contract, with 808 MW utilized concurrently [1] - CleanSpark is focused on expanding its power and land portfolio, developing data center infrastructure, and optimizing its operations for better returns [1] Strategic Initiatives - CleanSpark is evolving its AI strategy and aims to enhance its digital asset management and derivatives trading activities [2] - The company is positioning itself to rapidly lease existing capacity while maintaining flexibility to shift hashrate to optimal segments of its portfolio [1]

American Bitcoin Corp, the Trump-family backed mining firm, co-founded by Eric trump, saw its shares fall a whopping 40% to $1.80 on 2 December 2025. So, what triggered this plummet? The expiration of a lockup period on pre-merger private placement shares caused this fall. The stocks dropped intraday to $1.80 from a prior close of $3.58. What does this mean for investors? The fall has triggered multiple trading halts amid heavy volume, even as Bitcoin itself rallied over 7% to $91653. While Hut 8 owns 80% ...

Company Performance - American Bitcoin Corp. shares have dropped 37% in the last 24 hours, priced at $2.22, and have seen a nearly 60% decline over the past six months [2][4] - The company's poor stock performance is directly tied to its profitability, impacting the financial interests of the Trump family, who control approximately 20% of the company [4][3] Market Context - Despite Bitcoin's recent price recovery, which saw it regain the $90,000 level, American Bitcoin Corp.'s shares continued to decline, indicating a disconnect between the cryptocurrency's performance and the company's stock [5][6] - The broader cryptocurrency market remains volatile, influenced by key economic factors such as the Federal Reserve's interest rate policies and the Bank of Japan's monetary policy [8] Industry Challenges - The uncertainty in the crypto industry is exacerbated by potential actions from major players like MicroStrategy, which may sell its Bitcoin holdings if its stock remains below the value of its Bitcoin reserves, potentially eroding confidence in the asset [7]

American Bitcoin Corp. (NASDAQ: ABTC), a Bitcoin (BTC) mining firm co-founded by Eric Trump, saw its shares crash more than 50% in less than 30 minutes on Dec. 2, prompting multiple trading halts. At press time, ABTC was down nearly 40%, trading at $2.2050. The drop is interesting since Bitcoin is on a recovery path. At press time, it was trading at $91,653.98, having climbed 7.8% in the past 24 hours. ABTC shares crash on Dec. 2 (Source: Yahoo Finance) More News: Market chatter suggested the steep sh ...

Core Insights - Cango reported total revenues of $224.6 million for Q3 2025, a 60.6% increase from Q2 2025, with net income of $37.3 million and operating income of $43.5 million [1] - The majority of revenue, $220.9 million, came from Cango's bitcoin mining operations, which saw a 37.5% increase in total output, mining 1,930.8 bitcoin during the quarter [2] - Cango's Adjusted EBITDA for Q3 was $80.1 million, a significant rise from $1.2 million in the same period of 2024 [2] Bitcoin Mining Operations - Daily bitcoin production averaged 21.0 bitcoin, a 36% increase over the prior period, with a total of 5,810 bitcoin mined since entering the industry in Q4 2024 [3] - The average cost to mine a single bitcoin was $81,072, with an all-in cost of $99,383 [3] - The average operating hashrate increased from 40.91 EH/s in July to 44.85 EH/s in September, further improving to 46.09 EH/s in October due to operational enhancements and hardware upgrades [4] Strategic Vision - Cango's CEO outlined a long-term strategy to build a global, distributed AI compute network powered by green energy, viewing bitcoin mining as a pathway to energy access and AI compute deployment [5] - The company has a roadmap with three phases: immediate GPU computing power leasing, medium-term self-operated data center hubs for inference services, and a long-term global AI compute grid [6] - Cango is currently working on energy projects in Oman and Indonesia, expected to be commissioned within one to two years [6] Reporting Changes - Cango changed its reporting currency from RMB to USD effective this quarter [7]

Financial Data and Key Metrics Changes - Total revenues for the first half of 2025 were $61.2 million, climbing 55.5% year over year [5][22] - Gross loss recorded was $1.2 million, with a gross margin of -2% compared to 6% in the prior year [23] - Net loss for the first half of 2025 was $136.3 million, primarily driven by non-cash impairments [24] - Adjusted EBITDA was -$7.1 million, compared to -$2.6 million last year, reflecting ongoing investments in business transformation [25] Business Line Data and Key Metrics Changes - Talent management revenue surged 110.6% year over year to $46.1 million [8][22] - Event production revenues grew 30.1% year over year to $11.3 million [9][22] - Esports revenue was $3.8 million, impacted by timing effects and fewer sponsorships [5][22] Market Data and Key Metrics Changes - In China, esports experienced first-half softness due to market normalization and delayed revenue recognition [5] - Western esports showed signs of recovery, with expectations to break even or make a slight profit on an adjusted EBITDA basis in the second half of 2025 [6][12] Company Strategy and Development Direction - The company is focusing on a dual-engine model, with entertainment as the core and a new mining and digital assets division as the second growth engine [4][12] - Plans to expand into music festivals and broader live entertainment, with a pipeline of events across key cities [9][10] - The establishment of a mining and digital asset division aims to combine near-term monetization through Bitcoin mining with long-term strategic positioning in digital infrastructure and AI computing [14][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted EBITDA in the second half of 2025, supported by operational efficiency and financial incentives from Abu Dhabi [11][25] - The company anticipates a meaningful cash flow visibility from mining operations, with potential annualized revenue exceeding $300 million [20] Other Important Information - The company recorded non-cash goodwill impairment of $106.3 million and intangible asset impairment of $19.5 million, primarily related to the Ninjas in Pajamas brand [24] - The company is on track to open its first esports-themed hotel in January, which is seen as a significant opportunity for revenue generation [10][55] Q&A Session Summary Question: Applicability of event production model geographically and financially - Management confirmed the model is highly replicable in China and selected international markets, with plans for around 10 more large-scale music festivals next year [31][32] Question: Competitive performance and profitability in esports segment - Management expects league revenue confirmation letters to normalize in the second half of 2025, which will improve performance [33] Question: Trajectory into the second half of 2025 and beyond - Management indicated that the reported loss was primarily due to non-cash impairments and expects continued revenue momentum and cost efficiency improvements [36][37] Question: Differentiation versus pure player miners in the mining division - Management highlighted the strategic advantage of existing brand recognition and partnerships, allowing for rapid scaling of mining capacity [39][41] Question: Update on Abu Dhabi headquarters build-out and financial impacts - Management reported that the headquarters build is progressing on schedule and is already benefiting from financial incentives [44][46] Question: Rationale behind goodwill and intangible asset impairments - Management explained that the impairments reflect a necessary adjustment to align with current market conditions and do not impact liquidity [47][48] Question: Progress on additional asset purchase agreements for mining capacity - Management confirmed that the acquisition remains active and is targeting a December closing [50] Question: Update on esports hotel strategy - Management expressed excitement about the upcoming opening and plans for aggressive expansion in the esports hotel business [54][55]