Group 1 - Aurelius Capital Management initiated a new position in Bitfarms, acquiring 6.7 million shares valued at $19 million, making it the fund's largest reported U.S. equity holding for the quarter [2][3] - The new position represents 34.4% of Aurelius Capital's 13F assets under management [3] - Bitfarms shares have increased by 39% over the past year, significantly outperforming the S&P 500, which rose by 16.5% in the same period [3] Group 2 - Bitfarms has a market capitalization of $1.5 billion, with a revenue of $276.4 million and a net income of -$128.2 million for the trailing twelve months [4] - The company generated $69 million in revenue from continuing operations in the third quarter, reflecting a 156% year-over-year increase, and reported an adjusted EBITDA of $20 million, or 28% of revenue [10] - Bitfarms operates cryptocurrency mining farms and generates revenue from validating transactions on the Bitcoin Blockchain, supplemented by hosting third-party mining hardware and providing electrical services [8][10] Group 3 - The company is focusing on transitioning from pure mining to digital infrastructure, which includes converting its Washington site for high-performance computing and advancing multiple North American projects for next-generation GPUs [10] - Bitfarms has strengthened its balance sheet with a $588 million convertible note offering and reported total liquidity of about $814 million as of mid-November [10] - The strategy emphasizes that scale, power access, and balance sheet flexibility will be more critical than short-term volatility in the cryptocurrency mining sector [9]

Core Insights - Aurelius Capital Management has acquired a new position in Riot Platforms, purchasing 238,220 shares valued at approximately $4.5 million, marking it as one of the fund's five largest holdings [2][3][6] Company Overview - Riot Platforms is a U.S.-based Bitcoin mining company that provides Bitcoin mining services, engineering solutions, and manufactures power distribution equipment for large-scale commercial and governmental customers [8][9] - The company primarily generates revenue through its Bitcoin mining operations and the sale of custom electrical infrastructure products and services [8] Financial Performance - In the third quarter, Riot reported record revenue of $180.2 million, more than doubling year over year, with a net income of $104.5 million and adjusted EBITDA of $197.2 million [11] - Riot ended the quarter with $330.7 million in unrestricted cash, $170 million in working capital, and nearly 19,300 bitcoin worth approximately $2.2 billion [12] Market Position - The new position in Riot Platforms accounts for 8.2% of Aurelius's 13F reportable assets under management, with shares priced at $14.50, reflecting a 30% increase over the past year, outperforming the S&P 500, which is up 16% in the same period [4][5]

Core Viewpoint - Bitdeer Technologies Group is facing a securities class action lawsuit due to alleged failure to disclose material information during the class period, leading to significant financial losses for investors [3][4]. Group 1: Lawsuit Details - Investors who suffered substantial losses from purchasing Bitdeer securities between June 6, 2024, and November 10, 2025, have until February 2, 2026, to file lead plaintiff applications [1]. - The lawsuit is pending in the United States District Court for the Southern District of New York, under the case name Ismail N. Sakar v. Bitdeer Technologies Group, et al., No. 25-cv-10069 [5]. Group 2: Financial Performance - On November 10, 2025, Bitdeer reported a net loss of $266.7 million, or $1.28 per share, attributed to increased operating expenses related to research and development of its ASICs roadmap [4]. - Following the announcement of these financial results, Bitdeer's share price dropped from $17.65 to $15.02, marking a decline of over 14% [4]. Group 3: Legal Representation - Kahn Swick & Foti, LLC, a prominent securities litigation law firm, is representing the investors in this case [5]. - The firm has been recognized among the top 10 firms nationally based on total settlement value, serving both institutional and retail investors [5].

Core Viewpoint - Riot Platforms has experienced a 7% weekly decline, which is relatively better compared to many of its peers in the cryptocurrency mining sector as it transitions to a compute provider [1] Company Developments - Riot is developing two key buildings at its Corsicana data center campus, aiming to bring 112 megawatts of critical IT capacity to the market, which has previously positively impacted its share price [2] - The company holds over $2 billion worth of Bitcoin, including restricted holdings, indicating significant exposure to Bitcoin's price fluctuations [7] Market Sentiment - The decline in Riot's stock is partly due to weakening investor sentiment in sectors related to AI, with concerns that AI spending may slow down, potentially affecting Riot's profitability as it repurposes its compute capacity [6] - Despite the decline in Bitcoin's price, the company's shift towards becoming a compute provider is viewed as an intriguing development, suggesting a more interesting growth profile than earlier in the year [8] Financial Pressure - The transition from a Bitcoin miner to a compute provider may be costly and lengthy, and the declining Bitcoin price is putting pressure on Riot's balance sheet [9]

Core Viewpoint - LM Funding America, Inc. has announced a registered direct offering to raise approximately $6.5 million through the sale of common stock and pre-funded warrants, along with accompanying warrants for additional shares [1][2]. Group 1: Offering Details - The company will sell 1,822,535 shares of common stock and 7,332,395 pre-funded warrants, with a combined effective offering price of $0.71 per share or pre-funded warrant [1]. - The warrants will have an exercise price of $0.71 and will be exercisable upon stockholder approval, expiring five years from that date [1]. - The company will also reduce the exercise price of existing warrants from $2.95 to $0.87, subject to stockholder approval, and extend their term to five years [1]. Group 2: Financial Proceeds - The gross proceeds from the offering are estimated to be approximately $6.5 million before deducting fees and expenses [2]. - The offering is expected to close on or about December 22, 2025, pending customary closing conditions [2]. Group 3: Regulatory Information - The securities are being offered under a shelf registration statement on Form S-3, effective since November 21, 2024 [3]. - A prospectus supplement related to the offering will be filed with the SEC, and copies will be available through the SEC's website or from the placement agent [3]. Group 4: Company Overview - LM Funding America, Inc. operates as a Bitcoin treasury and mining company, founded in 2008 and based in Tampa, Florida [5]. - The company also provides funding to nonprofit community associations primarily in Florida through a technology-enabled specialty finance business [5].

Core Viewpoint - The article discusses the distinction between short-term market volatility and long-term infrastructure growth in the Bitcoin and data center sectors, emphasizing that leverage-driven sell-offs do not fundamentally change the investment thesis for Bitcoin and data centers [1]. Group 1: Market Dynamics - Short-term market pressures may lead to sell-offs, primarily driven by excessive leverage rather than genuine cash buying, which can create contagion effects [2]. - The volatility of Bitcoin has prompted several large miners, such as Bitfarms, MARA, and Hut 8, to pivot towards high-performance computing (HPC) centers as a more stable revenue-generating alternative [2]. Group 2: Production and Growth - Despite rising mining difficulty, Hive Digital Technologies has successfully scaled its Bitcoin production from three to ten Bitcoins per day, indicating a more than threefold increase in daily output [3]. - The company believes that Bitcoin mining and HPC are complementary, with both being essential for future growth [4]. Group 3: Strategic Vision - Hive Digital Technologies sees significant long-term potential in establishing power and data centers in Paraguay, which is viewed as a pro-America country with favorable policies for Bitcoin miners [4]. - Paraguay's ability to sell excess electricity to neighboring countries, including Argentina, which owes over $200 million in electricity debt, presents a stable income opportunity for the nation and benefits Bitcoin miners [5].

TAMPA, Fla., Dec. 18, 2025 (GLOBE NEWSWIRE) -- LM Funding America, Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a Bitcoin treasury and mining company, today announced that the first BC40 Elite immersion cooled Foghashing unit at its Oklahoma site has been successfully energized. This first of two planned BC40 Elite units is powering 160 next-generation Bitmain S21 immersion miners, adding approximately 35 Petahash (“PH/s”) to the Company’s total energized hashrate. “We are excited to achieve this in ...

Core Viewpoint - The recent decline in Bitcoin's price has led to a significant drop in MARA Holdings' stock, prompting investors to consider whether to invest in MARA instead of Bitcoin due to its current lower valuation [1][2]. Group 1: Bitcoin Market Overview - Bitcoin peaked at $124,774 on October 7, 2025, but has since fallen 31% to $86,413 as of December 16, 2025 [1]. - The market capitalization of Bitcoin is currently $1.7 trillion, with a trading volume of $50 billion [14]. Group 2: MARA Holdings Performance - MARA Holdings has seen a 53% decline in stock price since mid-October, with a current price of $9.93 and a market cap of $3.8 billion [2]. - The stock has a gross margin of -2663.89%, indicating significant financial challenges [2]. Group 3: Company Evolution and Strategy - MARA Holdings, originally known as Marathon Patent Group, transitioned to a cryptocurrency mining specialist in early 2021, investing $150 million in Bitcoin and mining equipment [3]. - The company has shifted its business model to include selling electric energy and data center space, capitalizing on the AI boom while still maintaining its Bitcoin mining operations [12][14]. Group 4: Mining Operations and Economic Factors - The correlation between MARA's stock and Bitcoin's price has weakened since spring 2024, with MARA's production of Bitcoin decreasing from 28.8 per day in March 2024 to 24.5 per day 18 months later [9]. - Despite a 37% increase in quarterly crypto-mining revenue due to rising Bitcoin prices, the cost of production surged by 82% [9][11]. Group 5: Competitive Landscape - MARA is entering a competitive market for AI computing, facing challenges from larger companies and other former Bitcoin mining specialists [15]. - The company is still primarily focused on Bitcoin-related activities, and its future success may depend on balancing its operations between AI and Bitcoin mining [14][17].

Bitcoin miners have got it hard right now. Hash price — the metric measuring how much revenue miners earn per unit of computing power — hit an all-time low in recent weeks and the depressed price of the leading cryptocurrency is hurting profit margins for companies in the cutthroat industry. But pivoting towards selling their processing powers to fuel the artificial intelligence revolution offers an increasingly alluring alternative. Nick Hansen, CEO and co-founder of the Luxor mining pool, told DL New ...

Shares of crypto miner Hut 8 jumped nearly 17% in premarket trading on Wednesday after the company announced a major artificial intelligence infrastructure partnership with Anthropic and cloud compute... ...