Q2 2025 Production Update - Earned 718 BTC in Q2 2025[17] - Direct cost per BTC was $48200[17] - Revenue per BTC was $98000[17] - Estimated proceeds of $18 million for reinvestment in the US from Argentina shut-down[18] - Achieved a 5% improvement in direct hashcost[18] Bitcoin Business - Bitcoin holdings are approximately 1200 BTC, up about 25% from year-end 2024[25] - The company's hashrate is 177 EHuM[21] - Mining operations generate approximately $8 million in free cash flow per month[23, 26] Energy Portfolio and HPC/AI Development - The company has a 1 GW energy pipeline in Pennsylvania[28, 42] - The company has a 1 GW data center built in Washington[28] - The company has a 170 MW energy pipeline in Quebec[28] - The company secured $300 million in debt financing from Macquarie Group for initial Panther Creek data center development[47] Financial Highlights - Q2 2025 revenue was $78 million, an increase of 87% year-over-year from $42 million in Q2 2024[49] - Q2 2025 gross mining margin was 43%[50] - Q2 2025 Adjusted EBITDA was $14 million, an increase of 27% year-over-year from $11 million in Q2 2024[53] - The company has approximately $230 million in total liquidity as of August 11, 2025[56]