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]

Financial Data and Key Metrics Changes - For Q1 2026, CleanSpark reported revenue of over $180 million, a year-over-year increase of approximately $19 million or nearly 12% [15][17] - Bitcoin production remained relatively flat, with revenue per Bitcoin rising to almost $100,000 compared to $84,000 in the same quarter last year [15][16] - Gross margins declined from approximately 57% a year ago to 47% this quarter, primarily due to increased network difficulty and slightly higher power prices [16][18] - The company recognized a net loss of approximately $379 million compared to a net income of approximately $247 million a year ago, driven by mark-to-market adjustments [17][20] - Adjusted EBITDA was negative $295 million, compared to positive $322 million a year ago, also influenced by mark-to-market adjustments [17][19] Business Line Data and Key Metrics Changes - CleanSpark's Bitcoin mining operations continue to generate strong cash flows, with a hashing capacity of over 50 exahash per second [5][6] - The Digital Asset Management (DAM) strategy generated over $13 million in premiums and cash, representing about 24% of normalized adjusted EBITDA [13][22] - The DAM strategy achieved an annualized return of 4.2% on the average HODL balance, surpassing the target of 4% [23] Market Data and Key Metrics Changes - Power prices increased marginally to $0.056 per kWh from $0.049 per kWh a year ago [16] - The company has seen improving economics per megawatt in the AI market, driven by scale and power quality [5][10] Company Strategy and Development Direction - CleanSpark is evolving into a digital infrastructure and data center development company, expanding beyond Bitcoin mining to include AI monetization and digital asset management [4][5] - The company is focused on securing scarce power and land, with a strategy that includes tenant-driven technical and commercial alignment [5][10] - CleanSpark aims to build a diversified infrastructure platform with multiple independently valuable earning streams, anchored by utility-grade power [4][5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand for AI infrastructure, citing significant investments from major companies like Amazon [33][39] - The company is strategically positioned to capitalize on the demand for larger sites and is in advanced discussions with potential tenants [10][41] - Management emphasized a disciplined approach to capital deployment and the importance of maintaining flexibility in a volatile market [11][19] Other Important Information - CleanSpark completed a $1.15 billion convertible offering, using part of the proceeds to repurchase $460 million worth of shares, totaling over $600 million since December 2024 [6][7] - The company has a cash balance of over $400 million, with approximately $1.15 billion in Bitcoin value as of the end of Q1 [20][21] Q&A Session Summary Question: 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 [31][33] Question: Demand for specific sites (Sealy, Sandersville, Brazoria) - Sandersville currently has the highest demand due to its energized status and existing infrastructure [35] Question: Rising demand for AI data centers and sector-wide implications - Management confirmed that demand is rapidly increasing, with ongoing inquiries from hyperscalers [39] Question: Confidence in signing contracts with tenants - Management expressed high confidence in securing quality leases within a shorter timeframe than initially expected [40] Question: Impact of owning land on negotiations - Owning additional land at Sandersville enhances the company's position in negotiations and project timelines [63] Question: ERCOT's proposed large load batch study process - Management indicated that their projects are in favorable positions relative to ERCOT's new processes, with significant progress already made [67][70] Question: Long-term power market attractiveness - CleanSpark is evaluating opportunities in various power markets, maintaining a diverse portfolio [74] Question: Status of potential HPC tenants - There are multiple potential tenants, with one clear front-runner in discussions for the Sandersville site [78]

Earnings Presentation Q2 FY2026 February 5, 2026 DISCLAIMER Forward-Looking Statements This investor update includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), that involve substantial risks and uncertainties. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our ...

Core Viewpoint - CleanSpark Inc's shares have declined significantly as investors anticipate the release of its first-quarter fiscal 2026 earnings report, which is expected to reflect the challenges faced in the cryptocurrency mining sector [1]. Group 1: Analyst Expectations - Analysts predict CleanSpark will report earnings per share (EPS) of $0.09 for the quarter, amidst increased volatility in cryptocurrency markets affecting mining stocks [2]. Group 2: Crypto Market Sentiment - Bitcoin is currently trading at $67,015.29, down 7.49% in the last 24 hours and 20.93% over the past week, contributing to negative sentiment in the market [3]. - The CMC Crypto Fear and Greed Index shows a reading of 11, indicating "Extreme Fear," a notable drop from the previous day's reading of 14 and last week's level of 38 [3]. Group 3: Technical Analysis - CleanSpark's stock is trading 25.9% below its 20-day simple moving average (SMA) and 34.9% below its 100-day SMA, indicating significant short-term weakness [4]. - Over the past 12 months, shares have decreased by 10.81%, and they are closer to their 52-week lows than highs, reflecting ongoing challenges [4]. Group 4: Momentum Indicators - The Relative Strength Index (RSI) is at 38.28, indicating neutral territory, while the MACD is below its signal line, suggesting bearish pressure on the stock [5]. - The combination of a neutral RSI and bearish MACD indicates mixed momentum, advising caution among traders [5]. Group 5: Analyst Consensus & Recent Actions - The stock carries a Buy Rating with an average price target of $23.16, despite recent declines [6]. - CleanSpark shares were down 10.71% at $9.68 at the time of publication [6]. Group 6: Support and Resistance Levels - Key resistance for the stock is identified at $10.00, while key support is at $9.00 [7]. - Recent analyst actions include a lowered target to $18.00 by Keefe, Bruyette & Woods, while Maxim Group initiated coverage with a Buy rating and a target of $22.00 [7].

Market Performance - U.S. stocks have experienced three consecutive down days, with the market closing lower [1] - The Russell 2000 index fell nearly 2%, finishing down 1.8%, marking the worst performance among major U.S. equity benchmarks [2] - Other indices also declined, with the Nasdaq down 1.59%, S&P 500 down 1.23%, and Dow down 1.2% [2] Company Earnings - Amazon reported disappointing earnings, indicating a significant increase in capital expenditures for the year, similar to trends seen in Microsoft and Alphabet [3] - Following the earnings report, Amazon's stock dropped more than 10% in after-hours trading [3] Cryptocurrency Market - Bitcoin has seen a drastic decline, losing 25% of its value over the past week and dropping 13% in the last 24 hours, settling around $63,000 [4] - Ethereum has also fallen below the $2,000 support level, currently at $1,847 [4] - Publicly traded treasury companies and bitcoin miners are facing severe challenges, with Strategy reporting a $12.4 billion quarterly loss in Q4 [5] Commodity Market - Silver prices have crashed over 19%, currently trading at $72 [6]

Group 1 - HIVE mined 297 Bitcoin in January, a 191% increase compared to the same month last year [1] - The company's hashrate peaked at 23.7 EH/s and averaged 22.2 EH/s, representing a 290% year-over-year increase [1] - Fleet efficiency improved to 17.5 J/TH [1] Group 2 - HIVE's operations in North America remained stable during Winter Storm Fern, which temporarily affected about 8% of Bitcoin's hashrate [2] - The company realized approximately $7.4 million from the cashless exercise of 480 Bitcoin options at an average value of $102,000 per coin [3] - Funds from the options exercise were allocated to purchase 2,667 Bitmain S21 XP miners for the Yguazú facility in Paraguay [3] Group 3 - The deployment of new miners is expected to increase HIVE's installed hashrate to 25.5 EH/s and improve fleet efficiency to 17 J/TH [3] - HIVE currently operates 440 MW of power and has contracted an additional 100 MW for deployment in Q3 2026, targeting a total of 540 MW [4]

Core Insights - HIVE Digital Technologies Ltd. reported exceptional Bitcoin production results for January 2026, with a 290% year-over-year growth in hashrate and consistent performance across its data centers [1][8]. Production Highlights - Bitcoin produced in January 2026 was 297 BTC, representing a 191% increase year-over-year from 102 BTC in January 2025, despite a 30% increase in Bitcoin mining difficulty [8]. - The average daily production was 9.6 BTC, with an average hashrate of 22.2 Exahash per Second (EH/s), peaking at 23.7 EH/s, marking a 290% year-over-year increase from 5.7 EH/s in January 2025 [8]. - Fleet efficiency was recorded at 17.5 Joules per Terahash (J/TH), with a global Bitcoin network share sustained above 2% of the worldwide hashrate [8]. Operational Resilience - HIVE's geographically diversified operations allowed it to maintain steady performance during severe cold fronts in January, while other parts of the global mining network faced curtailments [3][4]. - The company has a total operational capacity of 440 megawatts (MW) of renewable-powered energy, with an additional 100 MW scheduled for deployment in Q3 2026, bringing the total to 540 MW [10]. Strategic Execution - HIVE realized approximately $7.4 million through cashless exercises of 480 BTC tied to its 2025 Bitcoin pledge, preserving treasury flexibility and extending remaining pledge redemption timelines [6][7]. - The company has applied certain proceeds from cashless exercises towards the purchase of 2,667 Bitmain S21 XP ASIC miners, which are expected to enhance operational efficiency and lower costs [9]. Management Commentary - Management emphasized the strength of their disciplined execution and operational performance, which reflects years of investment in renewable energy and high-efficiency hardware [11]. - The company aims to expand further into AI and high-performance computing infrastructure, leveraging its operational success as a foundation for growth [11]. Company Overview - Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered by green energy, operating next-generation data centers across Canada, Sweden, and Paraguay [12]. - The company focuses on scalable, environmentally responsible solutions for the digital economy, driven by Bitcoin mining and GPU-accelerated AI computing [12].

The price of Bitcoin hit its lowest price in over a year on Wednesday, dragging the price of top crypto stocks with it. Bitcoin was recently trading at around $73,013 after dipping by more than 3% over a 24-hour period, according to CoinGecko data. It dropped under $72,000 earlier on Wednesday — its lowest price since November 2024. Over the past week, the leading digital asset has shed nearly 19% of its value. The drop comes as markets across the board sell-off and market observers are divided on wheth ...

Core Viewpoint - Bitdeer Technologies Group is set to announce its fourth quarter 2025 earnings results on February 12, 2026, highlighting its ongoing commitment to Bitcoin mining and AI infrastructure solutions [1][2]. Group 1: Earnings Conference Call - The earnings conference call is scheduled for February 12, 2026, at 8:00 AM EST, where management will discuss unaudited financial and operational results for the quarter ended December 31, 2025 [1]. - The fourth quarter results will be released prior to the call at approximately 7:00 AM EST on the same day [2]. - A live and archived webcast of the conference call will be available on the Investors section of Bitdeer's website [5]. Group 2: Participation Information - Participants wishing to join the conference call by phone must register using the provided Participant Call Registration link, after which they will receive an email with access details [4]. - The company encourages participants to connect about 5 minutes before the scheduled start time to ensure a timely beginning [4]. Group 3: Company Overview - Bitdeer is a leading technology company specializing in Bitcoin mining and AI infrastructure, providing comprehensive solutions including equipment procurement, logistics, datacenter design, and daily operations [6]. - The company is headquartered in Singapore and has deployed datacenters in the United States, Norway, and Bhutan [6].

Market Overview - Bitcoin fell below $73,000 on February 4, 2026, marking a significant decline from its all-time high of over $125,500 in October 2025, representing a roughly 40% drop in four months [2][7] - Large holders sold more than 50,000 BTC in the past two weeks, contributing to persistent selling pressure despite retail investors attempting to buy the dip [2] Mining Sector Impact - Bitcoin mining companies experienced severe losses, with stocks like Marathon Digital Holdings trading around $8.09 and Riot Platforms at approximately $13.52, both reflecting drops of over 10% in a single session [3] - Mining profitability has reached a 14-month low due to declining Bitcoin prices and increased network difficulty, leading to a decrease in the hashrate on the Bitcoin network [4][7] Broader Crypto Market Effects - Other companies exposed to cryptocurrency, such as Strategy (formerly MicroStrategy), also faced challenges, with MSTR stock hitting a 52-week low and unrealized gains on its Bitcoin treasury falling below 10% [5] - The decline in Bitcoin prices coincided with a broader selloff in tech stocks, particularly affecting software companies, which has historically correlated with Bitcoin's performance [6] Future Outlook - The ongoing pressure on Bitcoin prices and mining profits suggests that the mining sector will continue to face challenges until there is an adjustment in network difficulty or stabilization of prices above profitable levels for operators [7]