Core Viewpoint - Bit Digital, Inc. is transitioning from Bitcoin mining to a focus on Ethereum treasury and AI infrastructure, indicating a strategic shift towards more scalable and yield-oriented opportunities [3][4]. Group 1: Financial Performance - As of January 31, 2026, Bit Digital held approximately 155,239.4 ETH, valued at around $380.2 million based on an ETH price of $2,449 [1]. - The average acquisition cost for Bit Digital's ETH position was approximately $3,045 per token [2]. - The company staked about 138,266 ETH, which is roughly 89% of its total holdings, generating approximately 344.0 ETH in rewards for January, corresponding to an annualized yield of about 2.9% [2]. Group 2: Strategic Direction - Bit Digital is evolving into what it describes as a "Strategic Asset Company," focusing on Ethereum treasury, staking, and AI infrastructure growth, moving away from traditional mining operations [4]. - The decision to exit Bitcoin mining was based on the conclusion that it had become a less efficient use of capital [4]. - The company is also integrating artificial intelligence into its GPU-based computing operations, operating data centers across North America to support AI workloads [5].

Group 1 - Core Scientific, Inc. (CORZ) is recognized as one of the best Strong Buy tech stocks, indicating strong investment potential [1] - Keefe, Bruyette & Woods raised the price target for CORZ from $19 to $25 while maintaining an Outperform rating, reflecting confidence in the company's transition from bitcoin mining to high-performance computing leasing [2] - On February 6, 2026, CORZ shares increased by $1.61, or 10.9%, to approximately $16.43, with significant options activity indicating a bullish market sentiment ahead of the earnings report [3] Group 2 - Core Scientific specializes in large-scale digital asset mining and high-density colocation services, operating data centers and mining equipment, and is expanding into AI and high-performance computing workloads [4] - While CORZ shows potential, there are AI stocks considered to have greater upside potential and less downside risk, suggesting a competitive landscape in the tech investment space [5]

Core Insights - Signing Day Sports, Inc. has appointed Eyal Rozen as Chief Operating Officer of One Blockchain LLC, effective January 2026, to enhance operational execution and business development initiatives as the company prepares for a business combination with BlockchAIn Inc. [1][3] Company Overview - Signing Day Sports is focused on helping student-athletes achieve their goals of playing college sports through a recruitment app that allows athletes to build profiles with video-verified measurables and academic information [8] - BlockchAIn LLC is a developer and operator of digital infrastructure, concentrating on high-performance computing (HPC) and artificial intelligence (AI) hosting, with plans for data center expansions in 2026 and 2027 [6] Business Combination Details - Signing Day Sports entered into a Business Combination Agreement with BlockchAIn Digital Infrastructure, Inc. on May 27, 2025, with the transaction expected to close in March 2026, pending shareholder and NYSE American listing approvals [2][10] - Upon closing, Eyal Rozen will serve as Chief Operating Officer of BlockchAIn Inc., leading operational execution and supporting the strategy to scale HPC and AI infrastructure [3][5] Financial Performance - BlockchAIn LLC's existing 40 MW data center facility in South Carolina generated approximately $22.9 million in revenue and $5.7 million in net income in 2024 [6]

Core Insights - Infrastructure spending is currently a key driver of growth trends in global equities, with a focus on digital infrastructure providers like Equinix Inc. [1] - Infrastructure stocks are modestly priced compared to historical levels, despite typically trading at a premium to global equities [2] - Current valuations present an attractive entry point for investors seeking long-duration, cash-generative assets [3] Infrastructure Market Overview - There are 16 Canadian-listed infrastructure funds with combined assets of approximately $2.7 billion, with the largest being the $1.1 billion iShares Global Infrastructure Index ETF [3] - Infrastructure assets have historically provided attractive risk-adjusted returns, making them appealing during various economic conditions [4] Economic Impact on Infrastructure - Infrastructure spending is essential during economic growth and is a preferred vehicle for stimulating economies during downturns [5] - Major trends impacting infrastructure include the shift towards renewable energy and technological innovations like AI [6] Performance Metrics - Utilities are experiencing earnings-per-share growth rates exceeding 10% annually, indicating strong sector performance [7] - U.S. companies dominate infrastructure fund allocations, with 69% of the BMO Global Infrastructure Index ETF's assets in U.S. stocks [8] Investment Strategies - Active managers seek a balance between traditional dividend payers and newer growth opportunities in infrastructure [10] - The Brompton Global Infrastructure ETF has a diversified allocation, with 43% in industrials, 20% in energy, and 12% in utilities [11] Dividend Opportunities - Infrastructure funds offer above-average dividend payouts, with the Brompton ETF yielding 5.4% as of January [13] - The CI Global Infrastructure Fund provides a monthly distribution of 6.9 cents per share, translating to an annual yield of 2.6% [14] Stability and Growth - Infrastructure companies benefit from high barriers to entry and generate predictable cash flows supported by regulated pricing or long-term contracts [15] - Rising power demand and firm pricing are contributing to the growth of pipelines and utilities, particularly in relation to AI adoption [16]

Earnings Conference Call First Quarter Fiscal Year 2026 February 10, 2026 Advancing the future together A M E N T U M P R O P R I E T A R Y The appearance of U.S. Department of Defense (DOD) visual information does not imply or constitute DOD endorsement. Forward Looking Statements and Disclaimers Cautionary Note Regarding Forward Looking Statements This presentation contains or incorporates by reference statements that relate to future events and expectations and, as such, could be interpreted to be "forwa ...

Group 1 - Applied Digital Corporation (NASDAQ:APLD) is considered one of the worst AI stocks to invest in according to Reddit discussions [1] - Northland analyst Mike Grondahl raised the price target for Applied Digital from $40 to $56, maintaining an Outperform rating, following management's comments about advanced negotiations with a new investment-grade hyperscaler [1] - The negotiations involve three potential sites with a total capacity of 900 MW, indicating significant expansion opportunities for the company's data center infrastructure [1] Group 2 - Texas Capital analyst Derrick Whitfield initiated coverage of Applied Digital with a Buy rating and a price target of $42, highlighting the company's expertise in hyperscale development and proprietary waterless cooling technology [2] - Whitfield believes that Applied Digital is strategically positioned to secure leases for a significant portion of its land and power portfolio, which has a capacity of up to 4.3 gigawatts [3] - The company operates in the digital infrastructure solutions sector, focusing on HPC and AI industries in North America through its Data Center Hosting and HPC Hosting businesses [3]

Core Viewpoint - Mawson Infrastructure Group, Inc. has announced preliminary financial results for Q4 and the fiscal year 2025, indicating significant declines in revenue and increased net losses, while also reaching settlements in litigation cases that reduce potential financial liabilities [1][11]. Financial Results Summary Fourth Quarter Results - Preliminary estimated revenues for Q4 2025 are expected to be approximately $3.2 million, a decrease of 79% compared to $15.1 million in Q4 2024 [4]. - Preliminary estimated cost of revenues for Q4 2025 is expected to be around $4.3 million, down 59% from $10.4 million in Q4 2024 [4]. - Preliminary estimated gross profit (loss) for Q4 2025 is expected to be approximately $(1.1) million, a decrease of 123% from $4.7 million in Q4 2024 [5]. - Preliminary estimated gross profit margin for Q4 2025 is expected to be (33)%, compared to 31% in Q4 2024 [5]. - Preliminary net loss for Q4 2025 is expected to be approximately $15.8 million, an increase of 250% from $4.5 million in Q4 2024 [6]. Year-End Results - Preliminary estimated revenues for the year 2025 are expected to be approximately $39.8 million, a decrease of 33% from $59.3 million in 2024 [7]. - Preliminary estimated cost of revenues for 2025 is expected to be around $22.4 million, down 43% from $39.0 million in 2024 [7]. - Preliminary estimated gross profit for 2025 is expected to be approximately $17.3 million, a decrease of 14% from $20.3 million in 2024 [8]. - Preliminary estimated gross profit margin for 2025 is expected to be 44%, compared to 34% in 2024 [8]. - Preliminary net loss for 2025 is expected to be approximately $23.8 million, a decrease of 49% from $46.3 million in 2024 [8]. Operational Insights - The reduction in net loss for 2025 compared to 2024 is attributed to a decrease in operating expenses, primarily due to lower depreciation and amortization expenses and stock-based compensation, despite an increase in selling, general, and administrative costs [9]. - A reduction in non-operating expenses is noted, particularly due to a loss on deconsolidation of $12.4 million in 2024 [10]. Legal Settlements - Mawson has reached a confidential settlement with Ionic Digital Mining LLC to resolve claims related to a co-location agreement, and a separate settlement to resolve a customer dispute over a hosting arrangement, significantly reducing potential financial liabilities [11]. - The interim CEO expressed satisfaction with the settlements, indicating that they provide clarity on the company's balance sheet and allow a focus on operational execution and long-term growth [12]. Company Overview - Mawson is a U.S.-based technology company that designs, builds, and operates next-generation digital infrastructure platforms, providing services in AI, high-performance computing, and digital assets, including Bitcoin mining [12]. - The company emphasizes powering its operations with carbon-free energy resources, including nuclear power, positioning itself as a competitive provider of sustainable digital infrastructure solutions [13].

Financial Data and Key Metrics Changes - Revenue for the quarter grew year-over-year by approximately $19 million, an increase of almost 12% [17] - Bitcoin production was relatively flat, with revenues of almost $100,000 per Bitcoin compared to $84,000 in the same quarter last year [17] - Gross margins declined from approximately 57% a year ago to 47% this quarter, primarily due to increased network difficulty [17] - The company recognized a net loss of approximately $379 million compared to net income of approximately $247 million a year ago, driven by mark-to-market adjustments [18] - Adjusted EBITDA was negative $295 million, compared to positive $322 million a year ago, also influenced by mark-to-market adjustments [18][20] - Cash balance increased over $400 million compared to Q4, due to a $1.15 billion convertible transaction [21] - Total debt is approximately $1.8 billion, with a net debt-to-liquidity ratio of approximately 1.1 [22] Business Line Data and Key Metrics Changes - The company continues to operate a large-scale Bitcoin mining business, generating strong cash flows from a scaled mining footprint of more than 50 exahash per second [7] - Digital Asset Management (DAM) generated over $13 million in premiums and cash, representing about 24% of normalized adjusted EBITDA [15] - The DAM strategy achieved an annualized return of 4.2% on the average HODL balance, surpassing the target of 4% [25] Market Data and Key Metrics Changes - Power prices increased marginally to $0.056 per kWh, up from $0.049 per kWh a year ago [17] - The company is seeing improving economics per megawatt driven by scale, power quality, and contracting structures [6] Company Strategy and Development Direction - The company is evolving into a digital infrastructure and data center development company, building an infrastructure platform with multiple earning streams [5] - Bitcoin mining funds the platform, AI monetizes it, and digital asset management optimizes it across all cycles [5] - The company is focused on securing scarce power and land, with a strategy to capitalize on the demand for larger sites [10] - The company aims to move from portfolio formation into commercialization milestones, reflecting the demand for AI infrastructure [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for AI infrastructure, citing significant investments from major players like Amazon [34] - The company is focused on disciplined capital deployment and optimizing for durability rather than velocity [12] - Management believes that Bitcoin mining will always be core to the business, providing a strategic advantage in power acquisition [13] Other Important Information - The company completed a $1.15 billion convertible offering, part of which was used to repurchase $460 million worth of shares, totaling over $600 million since December 2024 [9] - The company has over 13,000 Bitcoin, with a strategy to use Bitcoin as a productive capital asset [24] Q&A Session Summary Question: Can you talk about the demand environment for HPC and attributes sought in leasing partners? - Management noted that demand is escalating, with interest from trillion-dollar balance sheet companies for long-term leases [34] Question: How does owning additional land at Sandersville impact conversations with potential tenants? - Management confirmed that owning the land allows for a more orderly process in progressing the AI data center project and enhances the specificity of the compute and power ramp [66] Question: What milestones should be expected in the HPC tenant discussions? - Management indicated that there are multiple potential offtake tenants, with a specific front-runner in discussions for the Sandersville site [79] Question: How does the recent downturn in Bitcoin prices affect the HODL approach? - Management stated that the strategy remains intact, with no plans to dip into the HODL despite current market conditions [55] Question: What is the expected timeline for power availability at the new Texas sites? - The Sealy project is expected to have power available in the first half of 2027, while the Brazoria project is anticipated to energize around Q4 2027 to Q1 2028 [82]

Financial Data and Key Metrics Changes - For Q1 2026, revenue grew year-over-year by approximately $19 million, an increase of almost 12% [17] - Bitcoin production was relatively flat, with revenues of almost $100,000 per Bitcoin compared to $84,000 in the same quarter last year [17] - Gross margins declined from approximately 57% a year ago to 47% this quarter, primarily due to increased network difficulty [17] - The company recognized a net loss of approximately $379 million compared to net income of approximately $247 million a year ago, driven by mark-to-market adjustments [18] - Adjusted EBITDA was negative $295 million, compared to positive $322 million a year ago, also influenced by mark-to-market adjustments [18][20] - Cash balance increased over $400 million compared to Q4, attributed to a $1.15 billion convertible transaction [21] Business Line Data and Key Metrics Changes - The AI data center business is expected to provide stable cash flows and high margins, which will help the company navigate the volatility of Bitcoin mining economics [20] - Digital Asset Management (DAM) generated over $13 million in premiums and cash, representing about 24% of normalized adjusted EBITDA [15] Market Data and Key Metrics Changes - Power prices increased marginally to $0.056 per kWh, up from $0.049 per kWh a year ago [17] - The company has over 13,000 Bitcoin, with a value of approximately $1.5 billion as of September 30 [24][21] Company Strategy and Development Direction - The company is evolving into a digital infrastructure and data center development company, leveraging its Bitcoin mining operations to support multiple revenue streams [5] - The strategy includes a focus on securing scarce power and land, tenant-driven technical alignment, and structured long-term monetization [5][10] - The company aims to build a capital stack that minimizes dilution while expanding into AI data centers [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for AI infrastructure, citing significant investments from major players like Amazon [34] - The company is focused on disciplined capital deployment and optimizing for durability rather than speed in its expansion efforts [12] - Management believes that the current market conditions present opportunities for growth, particularly in AI and data center sectors [20] Other Important Information - The company completed a $1.15 billion convertible offering, part of which was used to repurchase $460 million worth of shares, totaling over $600 million in share repurchases since December 2024 [9] - The company has established a Houston-area infrastructure hub with almost 900 MW of aggregate potential utility capacity to support AI campus deployments [10] Q&A Session Summary Question: Can you discuss the demand environment for HPC and attributes sought in leasing partners? - Management noted that demand is escalating, with interest from trillion-dollar balance sheet companies for long-term leases [34] Question: How does the demand compare across the three sites? - The highest demand is currently at Sandersville due to its energized status and existing infrastructure [36] Question: Is rising demand for AI data centers indicative of broader sector trends? - Management confirmed that demand is rapidly increasing across the sector, with ongoing inquiries from hyperscalers [40] Question: How confident is the company in signing contracts soon? - Management expressed high confidence in securing quality leases sooner than initially expected, emphasizing a disciplined approach [41] Question: How does the recent downturn in Bitcoin prices affect the HODL strategy? - The company plans to maintain its HODL strategy, focusing on selling nearly 100% of monthly operating production while expanding into AI data centers [55] Question: What milestones should be expected in the HPC business? - Management indicated that they are working on a basis of design and are focused on ensuring delivery timelines to avoid risks [51] Question: How does owning additional land at Sandersville impact negotiations? - Owning the land allows for more specific design alignment and eases the complexity of project timelines [66] Question: What is the status of the energization timeline for the Sealy and Brazoria sites? - The Sealy project is expected to have power available in the first half of 2027, while the Brazoria project timeline is less certain but targeted for late 2027 to early 2028 [82]

Core Viewpoint - Mawson Infrastructure Group Inc. has adopted a limited-duration stockholder rights agreement to protect the interests of its stockholders amid a potential takeover attempt by Endeavor Blockchain, LLC and associated parties [2][3]. Group 1: Rights Agreement Details - The Rights Agreement allows stockholders to realize long-term value and protects them from actions deemed not in the best interests of the company [2]. - The Rights become exercisable if a person or group acquires 20% or more of Mawson's outstanding common stock without Board approval [3]. - Each Right entitles its holder to purchase shares at a price equal to twice the exercise price, with certain conditions applied to triggering parties [3]. - The Rights Agreement is effective immediately and will expire on February 1, 2027, unless terminated or redeemed earlier [4]. Group 2: Endeavor's Actions - Endeavor acquired over 5% of Mawson's common stock before filing an initial Schedule 13D on December 22, 2025, and reported ownership of 31.6% as of January 6, 2026, although actual records indicated 19.5% [5]. - Following a rejected proposal for a Tender Offer and Series A Preferred Equity Financing, Endeavor called for changes in Mawson's leadership and strategy, indicating intentions to solicit votes for director nominees [5]. - As of January 28, 2026, Endeavor reported purported ownership of 48.0% of shares outstanding, which Mawson's records indicated was actually 29.7% [5]. Group 3: Company Overview - Mawson is a U.S.-based technology company focused on next-generation digital infrastructure, including services in AI, high-performance computing, and digital assets [6]. - The company emphasizes sustainability by powering operations with carbon-free energy resources, including nuclear power, and has 129 megawatts of capacity online [7].