Core Insights - J.P. Morgan updated financial models for North American Bitcoin miners, adjusting price targets based on network difficulty and cryptocurrency price fluctuations [1] Group 1: Bitcoin Mining Revenue Projections - Analysts project a modest decline in bitcoin mining revenue for Q4 2025, with estimates for mined bitcoin increasing by a low single-digit percentage due to slower network hashrate growth, while lower realized bitcoin prices offset production gains [2] Group 2: Company Ratings and Price Targets - Cipher Mining (NASDAQ: CIFR) received an overweight rating with an $18 price target, reflecting its power pipeline and pivot toward AI/HPC, alongside a $2 billion debt offering and a 200-megawatt site acquisition in Ohio expected to come online in late 2027 [3] - CleanSpark (NASDAQ: CLSK) holds an overweight rating with a $14 price target, emphasizing its acquisition strategy, including two sites in Texas and ongoing negotiations for potential AI/HPC tenants [4] - Riot Platforms (NASDAQ: RIOT) maintains an overweight rating with a $20 price target, focusing on the capacity potential at its 1 GW Corsicana facility, assuming 600 megawatts of colocation deals by late 2026 [5] - Marathon Digital Holdings (NASDAQ: MARA) is rated overweight with a $13 price target, reflecting its revised year-end 2025 hashrate goal of 75 EH/s [5] - Iris Energy (NASDAQ: IREN) holds an underweight rating with a $39 price target, as the current valuation of approximately $54 is viewed as stretched, factoring in undeveloped site deals that have not materialized [6] Group 3: Regulatory Considerations - J.P. Morgan highlighted an ERCOT proposal that could impact bitcoin miners in Texas, with an interconnection backlog exceeding 250 gigawatts and proposed rules including a "use it or lose it" clause subject to annual reviews, to be presented to state regulators on February 20 [7] - Investors are advised to monitor management commentary from CleanSpark and IREN regarding the ERCOT rule during their earnings report on February 5 [7]

Bitcoin (BTC) mining stocks kicked off 2026 on a strong note, buoyed by falling network competition and fresh enthusiasm around high-performance computing (HPC), Wall Street bank JPMorgan said in the Monday report. The bank noted that the 14 U.S.-listed bitcoin miners and data center operators it tracks ended last month with a combined market capitalization of $60 billion, up 23% month over month, far outpacing the S&P 500’s 1% gain. The rally was helped in part by news that Riot Platforms signed a HPC ...

Watch how quickly a Bitcoin mine is built in the Nebraska wilderness by the company MARA. Machines are plugged into electricity that otherwise had no buyer because of the location. 35 megawatts of unused power into computing infrastructure and profit.https://t.co/rsU4sxf9hL ...

Core Insights - CleanSpark (CLSK) is expected to report its first-quarter fiscal 2026 results on February 5, with revenues projected at $186.66 million, indicating a 15% year-over-year increase [1][10] - The consensus estimate for the bottom-line loss is 10 cents per share, which has widened by 3 cents over the past month, reflecting a significant deterioration from a loss of 7 cents year-over-year [1][10] Financial Performance - CleanSpark's earnings performance has been inconsistent over the past four quarters, with an average negative surprise of 93.06% [2] - The transition towards AI and high-performance computing data centers has increased capital intensity, leading to substantial upfront costs without immediate revenue contributions, which may pressure liquidity and financial flexibility [3] - The company's reliance on Bitcoin mining ties its results to volatile cryptocurrency prices and increased competition, which likely constrained profitability during the quarter [4] Capital Structure and Risks - CleanSpark's expanded debt position from recent convertible note issuance has heightened vulnerability to Bitcoin price fluctuations and operational disruptions, limiting financial flexibility [5] - The company's Digital Asset Management strategy has begun generating incremental cash flow, producing $9.3 million in premiums in the fourth quarter of fiscal 2025, indicating stronger momentum [6] Earnings Prediction - The current Earnings ESP for CleanSpark is -68.42%, with a Zacks Rank of 4 (Sell), indicating a low probability of an earnings beat this quarter [7][8]

When it comes to Bitcoin mining, many in the industry are split about continuing in the business. Last year, we saw several high-profile miners shut down facilities, pivot business models, or exit the sector altogether in search of more predictable returns in sectors like AI. But one major player is doubling down on Bitcoin mining and giving it another shot after shutting down one of its mining facilities. Tether, the issuer of the world's largest stablecoin by market cap, is coming up with a new strat ...

Core Insights - The crisis of BitRiver, Russia's largest Bitcoin mining firm, highlights the challenges faced by major mining players in operating under unclear regulations and unsustainable business models [2][3][7] - The situation has led to significant operational disruptions, including unpaid staff and the arrest of founder Igor Runets on tax evasion charges [4][8] Company Overview - BitRiver operates over 175,000 crypto mining rigs and generated revenues exceeding $133 million in 2025, utilizing 533 megawatts of electricity across 15 data centers [3] - The firm produced approximately 26,000 Bitcoin in 2025, valued at around $2 billion, contributing to a total mining capacity of 11 GW in Russia [3] Legal and Regulatory Issues - Igor Runets is suspected of running a tax evasion scheme that allowed companies to falsely claim expenses related to computing services and data center infrastructure [4][5] - Investigators believe that clients of BitRiver made payments for mining rigs that were never delivered, using these transactions to inflate tax deductions [5] Operational Challenges - Employees at BitRiver have reportedly not been paid for over three months, leading to resignations and a lack of communication from management [6][8] - Many BitRiver offices have been closed, and equipment along with documentation has been removed by unknown individuals, indicating a severe operational crisis [6] Industry Implications - The crisis at BitRiver may lead to an outflow of weaker participants from the Russian Bitcoin mining industry, exacerbating existing challenges [2][7] - Regulatory pressures and legal uncertainties continue to pose risks for large businesses in the mining sector, complicating their operational landscape [7]

Core Viewpoint - Mawson Infrastructure Group has adopted a limited-duration stockholder rights agreement to counter a takeover attempt by Endeavor Blockchain, aiming to prevent control without a premium payment to all shareholders [1]. Group 1: Defensive Measures - The rights agreement triggers if an entity acquires 20% or more of the outstanding common stock, activating immediately if a group exceeding this limit acquires additional shares [2]. - Mawson cited a covert campaign and rapid stock accumulation by Endeavor as the main reasons for this defensive move [3]. Group 2: Takeover Attempt Details - Endeavor submitted a proposal on January 8 for a tender offer and equity financing that would transfer board control, including provisions for selecting a new CEO [4]. - The board rejected Endeavor's offer, leading to a letter to stockholders on January 22 calling for a leadership overhaul and intentions to nominate directors at the 2026 annual meeting [4]. Group 3: Ownership Discrepancies - There are disputes regarding the size of Endeavor's stake, with Endeavor claiming a combined ownership of 48% as of January 30, 2026, while Mawson asserts it is only 29.7% [5]. - The rights plan allows other shareholders to purchase stock at a 50% discount if triggered, diluting the acquiring entity's voting power and economic interest [5]. Group 4: Rights Plan Details - Directors can exchange rights for shares at a one-to-one ratio to enforce dilution without requiring shareholder cash, applicable as long as the acquiring person holds less than 50% of the stock [6]. - The rights plan remains effective until February 1, 2027, with shareholders of record as of February 12 set to receive the dividend distribution of rights [6].

Bitcoin miner TeraWulf's shares surge 15% after infrastructure acquisitions https://t.co/iCUnBXI3oc ...

Bitcoin miners globally are facing increasing challenges to stay afloat in their business. The whole Bitcoin-halving gambit and the volatility of crypto as a whole, thanks to geopolitical tensions, are making many miners move away from the business to something more sustainable, like artificial intelligence. They have the machines, they have the power, so why not pivot? One Bitcoin miner is facing an even bigger trouble, like a double-edged sword: bankruptcy and leadership turmoil. Related: What is Bitc ...

Bitcoin mining stocks faced a sea of red Monday as a sharp decline in cryptocurrency prices collided with analyst skepticism regarding the sector’s expensive transition to AI. Stock prices have dropped alongside bitcoin’s 10% correction over the last week despite a flurry of announcements regarding data center expansions. HIVE dropped 8.2% to $2.56 on Monday’s open. The miner recently announced plans to grow its Paraguay operations by 100 megawatts in 2026 and launched a new high-performance computing b ...