Markets pop and miners follow, but the real story is how operators are lowering costs, tightening financing, and moving into HPC AI. We break down Bitzero’s hydro buildout, Iron’s convertibles, Soluna’s hosting growth, and Luxor’s GPU push with COO Ethan Vera.

• Miner heat map turns green after weeks of drawdowns
• BitZero expands Norway site to 110 MW on hydropower
• Sub–four cent energy targets and ~seven exahash goal
• Frankfurt listing progress and U.S. listing efforts
• Iren raises $2.3bn, repays notes, lowers coupons
• Capped call structure to limit dilution risk
• Soluna hosting rises to nearly 3.9 exahash
• GRACE as proof of concept for HPC AI
• Behind-the-meter wind and utilization tailwinds
• Luxor launches GPU trading and financing support
• OEM partnerships and integrated system procurement
• Compute markets poised to scale massively
• Rate cuts and unified AI policy as catalysts

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