Core Viewpoint - Greenridge Capital initiated coverage on Cango Inc. with a Buy rating and a $4.00 price target, highlighting the company's undervaluation and overlooked potential in Bitcoin mining and high-performance computing [1] Group 1: Company Position and Assets - Cango holds a market-leading position in Bitcoin mining, owning mining equipment that ranks it among the largest global miners [2] - The company possesses over $600 million in Bitcoin and has recently acquired its first infrastructure facility, along with two ongoing energy generation projects [2] - Cango has sufficient cash and equity resources to pursue further strategic expansion [2] Group 2: Future Expectations and Valuation - Greenridge Capital anticipates that management will provide additional details on expansion initiatives in the coming months, which could act as a catalyst for a valuation re-rating [3] - The $4.00 price target is based on a 7x EV-to-adjusted EBITDA multiple applied to a 2026 adjusted EBITDA estimate of $335.4 million and a 15x price-to-earnings multiple applied to a projected 2026 diluted EPS of $0.34, both of which are below industry peer multiples [3]

Bitcoin mining stocks staged a sharp rebound Monday, led by AI-focused firms, as bitcoin reclaimed the $90,000 level. The recovery follows a sell-off last week triggered by regulatory enforcement in China’s Xinjiang region that pressured cryptocurrency prices. Firms pivoting to AI data centers led the rally, posting average gains exceeding 10% before the market opened. Applied Digital (NASDAQ: APLD) topped the sector with a 16.53% surge, while Hut 8 (NASDAQ: HUT) climbed 14.33% to $44.12 and IREN (NASDAQ ...

Core Viewpoint - Aurelius Capital Management has taken a significant position in TeraWulf, indicating confidence in the company's potential within the bitcoin mining sector [2][3][10] Group 1: Investment Details - Aurelius Capital Management acquired 450,000 shares of TeraWulf valued at approximately $5.1 million as of September 30 [3][6] - This new position represents 9.3% of Aurelius Capital's reportable assets under management (AUM) [4][6] - TeraWulf is now among the largest holdings in Aurelius Capital's portfolio, which has total U.S. equity AUM of $55.2 million across nine positions [3][4] Group 2: Company Overview - TeraWulf operates bitcoin mining facilities in New York and Pennsylvania, focusing on energy-efficient infrastructure for bitcoin mining [8][9] - The company reported a market capitalization of $5.2 billion and revenue of $167.6 million for the trailing twelve months (TTM) [5] - TeraWulf's net income for the TTM stands at a loss of $586.6 million [5] Group 3: Financial Performance - In the third quarter, TeraWulf reported revenue of $50.6 million, an increase of 87% year over year, driven by higher bitcoin prices and new high-performance computing lease revenue [11] - The company has secured over $17 billion in long-term, credit-enhanced high-performance computing contracts, shifting towards infrastructure-style cash flows [11] - TeraWulf's cash position was approximately $713 million at quarter-end, providing liquidity for expansion amid bitcoin market volatility [11]

Group 1: Bitcoin Mining Industry Overview - Authorities in China have intensified scrutiny on Bitcoin mining operations in Xinjiang, leading to the shutdown of approximately 1.3 GW of power capacity, which may impact gigawatts worth of mining in the region [3][4] - The crackdown is characterized by rolling inspections rather than a single event, with older generation machines being less economically viable for relocation [3][4] - The network is experiencing a significant drawdown in hashrate, attributed to the Xinjiang crackdown and weather-related curtailment in the United States, contributing to a bearish sentiment in the market [5] Group 2: Market Economics and Hashprice - Hashprice has dipped below $40 per PH/s/day, indicating deteriorating Bitcoin mining economics and raising financing concerns for major tech players like Oracle [2][5] - A projected negative difficulty adjustment of over 1% is expected due to the removal of approximately 100 exahash from the network [4] Group 3: Company Developments - Hut 8 has secured a significant hosting agreement with Fluidstack and a global hyperscaler, valued at approximately $7 billion over 15 years, with a potential expansion to $17.7 billion [6][7] - The deal includes a 3% yearly escalator to account for inflation and is similar to agreements made by other companies like TeraWulf and Cipher Mining, which involve revenue backstops from major tech partners [6][7]

Core Insights - Rosenblatt Securities has lowered price targets and financial estimates for several bitcoin mining companies due to a significant decline in mining profitability, emphasizing the increasing importance of AI and high-performance computing (HPC) revenue [1] Company-Specific Summaries - Cipher Mining's price target was reduced to $25 from $33, but it remains a "Top Pick" due to its ability to transition power capacity to higher-margin AI tenants [5] - TeraWulf's price target was cut to $20, with the company being favored for its diversification into AI and computing power [2][5] - Marathon Digital's price target was lowered to $15 from previous levels, with a significant reduction in its 2026 adjusted EBITDA estimate from $281 million to $99 million, highlighting its sensitivity to Bitcoin price changes [4] - Hive Digital's price target was reduced to $6.50 from $10, with its financial results heavily influenced by its mining expansion in Paraguay despite its HPC business growth [6] Industry Trends - The broader mining sector is facing challenges, with Bitcoin prices dropping approximately 30% since early October and Bitcoin's hashprice falling 26% to near all-time lows of $38/PH/day [3] - A shift in industry transparency is noted, as several companies, including Cipher Mining and Marathon Digital, have ceased publishing monthly mining production reports, while Hive Digital continues to provide operational updates [7] - Bitcoin's global hashrate has decreased by 7% since mid-October, although it remains up 34% year-to-date, with expectations that hashrate growth will moderate until Bitcoin prices recover [8]

Google has quietly become a financial safety net for Bitcoin miners, providing at least $5 billion in credit support to help them pivot into Artificial Intelligence (AI). This isn’t a direct investment but something much smarter: a guarantee. Stocks of miners making this move, like Cipher and IREN, have surged between 300-500% in 2025 as a result. What Is Really Happening Between Google and Bitcoin Miners? This trend is a direct response to AI’s massive hunger for power, a resource that Bitcoin miners h ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Bitdeer Technologies Group securities between June 6, 2024, and November 10, 2025, of the upcoming lead plaintiff deadline on February 2, 2026 [1] Group 1: Class Action Details - Investors who purchased Bitdeer securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][7] - To serve as lead plaintiff, individuals must file a motion with the Court by February 2, 2026 [3] Group 2: Law Firm Credentials - Rosen Law Firm specializes in securities class actions and has a strong track record, including the largest securities class action settlement against a Chinese company [4] - The firm has been ranked No. 1 for securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions for investors [4] - In 2019, the firm secured over $438 million for investors, and its founding partner was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020 [4] Group 3: Case Background - The lawsuit alleges that defendants provided misleading information regarding Bitdeer's SEALMINER Bitcoin mining machine, specifically about the mass production of its fourth-generation SEALMINER (A4) rigs [5] - Defendants reportedly failed to disclose that the SEAL04 chip, expected to have an energy efficiency of 5 J/TH, would not be ready for use in the A4 rigs until the second quarter of 2025, leading to artificially inflated security prices [6]

Core Viewpoint - Robbins LLP has initiated a class action lawsuit on behalf of investors who acquired Bitdeer Technologies Group (NASDAQ: BTDR) securities between June 6, 2024, and November 10, 2025, alleging that the company misled investors regarding its business prospects [1][2]. Group 1: Allegations and Business Prospects - The lawsuit claims that Bitdeer created a false impression of having reliable information about the development of its fourth-generation SEALMINER A4 machine, which was expected to enhance revenue through self-mining and external sales in fiscal year 2025 [2]. - It is alleged that Bitdeer repeatedly stated that the research and development of the SEAL04 ASIC chip technology was on track, with mass production anticipated in the second quarter of 2025. However, there were significant issues with the chip design that led to delays and a dual-track approach in development [2]. Group 2: Financial Impact - On November 10, 2025, Bitdeer reported a net loss of $266.7 million, or $1.28 per share, primarily due to increased operating expenses related to the R&D of its ASIC roadmap. Following this announcement, the stock price fell over 14%, from $17.65 per share to $15.02 per share [3]. Group 3: Class Action Participation - Shareholders interested in participating as lead plaintiffs in the class action must file their papers by February 2, 2026. They can also choose to remain absent class members without participating in the case [4].

Key Takeaways Riot Platforms operates 1.86 GW of power capacity, supporting Bitcoin mining today and AI/HPC growth ahead.RIOT reported strong Q3 revenues and net income, aided by operating leverage and power curtailment credits.TeraWulf's AI push brings long-term contracts, but heavy debt, losses and execution risk pressure the stock.The Bitcoin mining sector is in a transition phase as operators are increasingly focusing on digital infrastructure and AI hosting to diversify revenues. TeraWulf (WULF) and Ri ...

Bitcoin’s network quickly recovered after alleged large-scale mining shutdowns in Xinjiang on December 13, with data showing only a brief, modest impact on hashrate on December 18, contrary to early social media reports. Reports of a sweeping Xinjiang crackdown knocking 100 exahashes per second (EH/s) off Bitcoin network have been challenged by pool-level data indicating a much smaller, temporary disruption. The scare began after Nano Labs founder and former Canaan co-chair Jack Jianping Kong posted on X ...