Legal Issues - A lawsuit has been filed by Joseph Soroka against multiple defendants, including Core Scientific, CoreWeave, and OpenAI, alleging catastrophic burn injuries from an explosion at a worksite in Denton, Texas [1][2] - The lawsuit claims that high-voltage transformers failed while being energized, resulting in an explosion that caused severe burns to Soroka [3] - Soroka is seeking over $1 million in damages for life-altering injuries, including severe burns and long-term disability, attributing negligence to the defendants for unsafe working conditions [3] Corporate Developments - Core Scientific's planned acquisition by CoreWeave has been terminated following a failed shareholder vote [4] - The company will now focus on developing up to 3.3 GW for AI and high-performance computing (HPC) workloads [4]

Bitcoin miner Riot posts net income of $104.5 million in Q3, reversing previous quarter's losses https://t.co/nQll3lWPxZ ...

Core Insights - Riot Platforms, Inc. reported significant financial growth in Q3 2025, achieving record quarterly revenue of $180.2 million, a substantial increase from $84.8 million in Q3 2024, primarily driven by a $93.3 million rise in Bitcoin mining revenue [4][5] - The company produced 1,406 bitcoins in Q3 2025, up from 1,104 in the same period last year, while the average cost to mine a bitcoin increased to $46,324 from $35,376, influenced by a 52% rise in the average global network hash rate [5][6] - Riot's net income for the quarter was $104.5 million, or $0.26 diluted EPS, compared to a net loss of $154.4 million in Q3 2024, indicating a strong turnaround in profitability [11] Financial Performance - Total revenue reached $180.2 million, a 112% increase year-over-year, with Bitcoin mining revenue contributing $160.8 million, up from $67.5 million in Q3 2024 [5][11] - Adjusted EBITDA for the quarter was $197.2 million, including a $133.1 million gain on Bitcoin held on the balance sheet, showcasing robust operational performance [11] - The company maintained a strong financial position with $170.0 million in working capital, including $330.7 million in unrestricted cash [11] Operational Developments - Riot announced the initiation of core and shell development for two buildings at its Corsicana data center campus, representing 112 MW of critical IT capacity [2][4] - Key achievements in Q3 included acquiring an additional 67-acre parcel of land adjacent to the Corsicana site, completing the campus design, and building out the in-house data center team [2][3] - The company is focused on transforming into a large-scale, multi-faceted data center operator, leveraging its land and power assets to maximize value [3][8]

Data Center Development - Riot initiated core & shell development of the first two buildings at the Corsicana Data Center campus, representing 112 MW of critical IT load capacity[9] - Riot acquired an additional 67 acres of land adjacent to the Corsicana site for $40 million, simplifying the development of the full 1 GW of power capacity[17, 29] - The Corsicana site is planned to be developed over two phases, with Phase 1 providing 504 MW of total critical IT load capacity[32, 34] - Forecasted capital expenditures of $214 million over the next 18 months for the core & shell development of two buildings at Corsicana, representing $19 million per critical IT MW[37] Financial Performance - Riot Platforms reported total revenue of $180 million in Q3 2025, an 18% increase quarter-over-quarter[49] - Net income was $104 million, representing a 58% margin, with earnings per share of $026[49] - Adjusted EBITDA was $197 million, adjusted for non-cash and unusual items[49] - The net cost of power was 32 c/kWh, 16% lower than real-time prices in Load-Zone South[49] - Riot produced 1,406 BTC in Q3 2025, with a daily production of 153 BTC per day[51] - Riot held 19,287 BTC with a quarter-end value of $22 billion[51]

A planned merger between Bitcoin mining firm Core Scientific and artificial intelligence and cloud data center CoreWeave has been called off after a stockholder vote held on Oct. 30. According to the initial terms reported back in July, CoreWeave was slated to purchase Core Scientific in an all-stock deal for $20.40 per share at a total valuation of approximately $9 billion. Stockholders Reject Merger Deal According to the US Securities and Exchange Commission (SEC), CoreWeave did not receive the requis ...

Core Scientific shareholder vote sinks $9 billion CoreWeave deal, halting merger of AI cloud and bitcoin miner https://t.co/bTnUqVOZza ...

Core Acquisition Overview - CoreWeave has made a $9 billion all-stock bid for Core Scientific, which has led to a nearly 18% drop in Core Scientific's shares following the announcement [1] - The shareholder vote on the acquisition is scheduled for October 30, with increasing opposition from various stakeholders [2] CoreWeave's Position - CoreWeave CEO Michael Intrator has stated that the acquisition is viewed as optional, emphasizing that the price will not increase despite shareholder pushback [2][3] - Intrator described Core Scientific as "a nice to have, not a need to have," indicating CoreWeave's willingness to abandon the deal if rejected by shareholders [3][5] Shareholder Opposition - Institutional Shareholder Services and Glass Lewis have both recommended that Core Scientific shareholders reject the acquisition, citing concerns over the offer's value [5] - Two Seas Capital, a significant investor in Core Scientific, has also urged a vote against the acquisition, labeling it "underwhelming" based on the company's recent trading performance [5] Strategic Considerations - CoreWeave has countered criticisms from shareholder advisory firms, arguing that their focus on short-term stock performance overlooks the strategic risks Core Scientific may face if it remains independent [4]

Core Viewpoint - Bitdeer Technologies Group is set to announce its third quarter 2025 earnings results on November 10, 2025, with a conference call scheduled for 8:00 AM EST to discuss the unaudited financial and operational results for the quarter ending September 30, 2025 [1][2]. Company Overview - Bitdeer is a leading technology company specializing in Bitcoin mining and AI cloud solutions, providing comprehensive services including equipment procurement, logistics, data center design, and daily operations [5]. - The company is headquartered in Singapore and has deployed data centers in the United States, Norway, and Bhutan [5]. Conference Call Details - The earnings results will be released at approximately 7:00 AM EST on November 10, 2025, prior to the conference call [2]. - Participants can join the call by registering through a provided link, receiving necessary access details via email [3]. - A live and archived webcast of the conference call will be available on Bitdeer's Investor Relations website [4].

Core Viewpoint - Bitfarms Ltd. is set to report its third quarter 2025 financial results on November 13, 2025, before market opening, with a conference call scheduled for the same day at 8:00 am EST [1]. Company Overview - Bitfarms is a North American energy and digital infrastructure company focused on building and operating advanced data centers and energy infrastructure for high-performance computing and Bitcoin mining [3]. - The company has a significant energy pipeline of 1.3 GW, with over 80% of its projects based in the U.S., strategically located in areas with strong access to power and fiber infrastructure [3]. - Founded in 2017, Bitfarms has established itself as a leader in digital infrastructure across the Americas, with headquarters in New York, NY, and Toronto, ON, and is publicly traded on both the Nasdaq and Toronto Stock Exchange [4].

Core Insights - TeraWulf's prospects are bolstered by a joint venture with Fluidstack, focusing on high-performance computing (HPC) and expected to deliver significant IT load capacity by 2026 [1][9] - The 25-year joint venture is projected to generate approximately $9.5 billion in contracted revenues, with TeraWulf's total contracted HPC platform exceeding 510 MW [2] - Preliminary Q3 2025 revenue estimates indicate a strong year-over-year growth of around 84%, with expected revenues between $48 million and $52 million [3] Joint Venture and Revenue Potential - The joint venture with Fluidstack will develop 168 MW of HPC capacity at the Abernathy, TX campus, enhancing TeraWulf's HPC footprint [1][9] - TeraWulf's existing deal with Fluidstack involves delivering over 360 MW at the Lake Mariner data center, with potential expansion to 750 MW, representing about $6.7 billion in contracted revenues [2] Competitive Landscape - TeraWulf faces significant competition from IREN Limited and Applied Digital in the bitcoin mining and HPC sectors [4] - IREN Limited has expanded its AI cloud capacity and anticipates achieving $500 million in annualized run-rate revenue by Q1 2026 [5] - Applied Digital is capitalizing on the demand for data center infrastructure, with a focus on energy efficiency and a hosting capacity of approximately 286 MW [6] Stock Performance and Valuation - TeraWulf's stock has increased by 39.5% in the past month, outperforming the broader Zacks Finance sector [7] - The stock is trading at a high valuation, with a trailing price/book ratio of 39.4X compared to the industry average of 4.28X [12] - The Zacks Consensus Estimate for 2025 earnings indicates a projected loss of $0.36 per share, reflecting a wider loss than previously anticipated [13]