Power Analysis

We break down WhiteFiber’s 10-year, $865 million co-location and services deal with Nscale and why speed to revenue is the company’s edge. Sam Tabar details the retrofit-first playbook, financing approach, and why co-location outshines commoditized GPU cloud.

• $2 million per MW ARR contract economics at NC1
• Co-location plus services model with durable margins
• 40 MW online rapidly with 20 MW by April and 20 MW in May
• Retrofit-first site strategy to compress timelines and costs
• Power roadmap with Duke and expansion potential toward 200 MW
• Comparison to peer deals and negotiation dynamics
• Execution track record including rapid Tier III conversions
• Capital plan using non-dilutive project debt aligned to contracts
• 2026 targets for active capacity, revenue growth, and R&D productization
• Rationale for favoring co-location over GPU price competition
• Market sentiment vs real demand and pipeline confidence

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We track a steady Bitcoin price and light holiday volumes while spotlighting the bigger shift: how AI and HPC demand, new tariff rules, and efficiency gains are reshaping mining strategy. Bitdeer moves manufacturing to Nevada and Cipher secures 200 MW in PJM as policy momentum builds.

• Bitcoin price hovering high‑80k with muted tape
• Miner board mixed while HPC‑linked names hold interest
• Bitdeer leases Reno facility to assemble SEAL miners
• SEAL A4 efficiency targets, iteration, and margin math
• Power costs versus fleet efficiency and payback windows
• Cipher expands beyond Texas with 200 MW in Ohio
• PJM policy shifts and FERC tariff directives
• ERCOT bottlenecks, diversification across grids, timelines
• Predictions for 2026 and strategy around energized MW

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We map where Bitcoin sits after repeated 90k rejections and why ETFs, corporate treasuries, banks, and policy shifts could extend or break the four‑year cycle. Then we dig into miners decoupling from BTC as they pivot power toward HPC and sign AI compute deals that reshape valuations.

• ETF demand and corporate HODL tightening free float
• Policy momentum and banks enabling Bitcoin‑backed credit
• Rangebound price dynamics around options expiry
• Miners’ pivot from hash to high‑performance compute
• Deal flow at Core Scientific, TeraWulf, Cipher, HUT and IREN
• Why site power, fiber and water outrank raw hash rate
• Dilution math, share count realities and 2026 expectations
• Hashprice compression and efficiency race to sub‑10 J/TH
• Names to watch for the next HPC contracts and execution risks

Let us know in the comment section below how you're feeling about the space or sector and your top pick in your portfolio moving into 2026!

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Two landmark AI co-location deals reset expectations for Bitcoin miners, while construction updates show how speed, siting, and contract structure drive value. We compare NOI headlines with the real cost stack and call out where timelines and capex per MW separate leaders from laggards.

• bitcoin stalls near 90,000 as options expiry looms 
• miners rally on concrete deals and build progress 
• whitefiber–nscale 40mw, 10-year, 3% escalator structure 
• hut 8’s 245mw triple-net contract and noi nuance 
• cost per mw, financing rates, and delivery premiums 
• iren childress acceleration and horizon build stages 
• cipher updates and gross versus net power clarity 
• terawulf jv funding and fluidstack expansion appetite 
• analyst downgrades contrasted with strengthening hpc demand

Let us know in the comment section below how you're feeling about your stocks right now and your top pick heading into 26'!

“Miner Madness 5.0 goes live January 1st… cash prizes on the table, 100% free to enter.”

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We track a choppy Bitcoin tape against surging AI compute demand and explain why miners with power, contracts, and build capability stand to benefit. DMG’s earnings, Terawulf’s JV financing, and fresh signals from chipmakers and analysts point to durable tailwinds, not a bubble.

• Bitcoin price resilience alongside short-term pullbacks
• Miners’ drawdown contrasted with expanding AI HPC demand
• DMG earnings under IFRS versus GAAP context
• DMG balance sheet strength and SOC 2 credibility
• Pivot from hash rate growth to high-margin HPC
• Terawulf–FluidStack JV financing and 25-year commitment
• Core Scientific upgrades and deal profitability debate
• Chipmakers’ results signaling record AI demand
• Power as the bottleneck and miners’ advantage
• Wind curtailment, flexible load, and grid partnerships

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We break down Hut 8’s Google‑backed HPC lease with Anthropic and FluidStack, why the Riverbend campus is set up to scale, and how contract terms like ROFO, escalators, and NOI per megawatt change how miners are valued. Market volatility meets long‑dated cash flows as power becomes the moat.

• Bitcoin price action and miner correlation
• Shift from pure mining to AI HPC co‑location
• Hut 8’s three‑tranche roadmap and ROFO
• Riverbend phase one economics and NOI
• Google backstop, bank underwriting, and cheaper debt
• Power market advantages in MISO, land scale, 345 kV lines
• Vendor stack: Entergy, Vertiv, Jacobs, delivery timeline
• Pipeline across ERCOT, MISO, PJM and growth buckets
• Analyst comparisons and improving deal quality
• Why AI demand supports long leases and renewals

Sign up to the newsletter at powermininganalysis.com under the News dropdown to enter Minor Madness 5.0. Hit the like button, subscribe, and tell us what you think about the Hut 8 deal in the comments

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We break down November’s mining pain: hash price near new lows, difficulty still high, and fees stuck at the floor. We show how hedging outperformed spot, why efficiency and power costs decide survival, and where miners pivot toward AI HPC as capital gets cheaper.

• November hash price decline and fee drought
• Rising difficulty with intermittent negative adjustments
• Fleet efficiency tiers and breakeven stress at five-cent power
• Real costs beyond energy including opex and depreciation
• Forward market results favoring disciplined hedging
• Zero-sum dynamics between sellers and buyers of hash rate
• Liquidity growth and treasury BTC entering forwards
• Deliverable vs non-deliverable forwards for financing
• Slower difficulty growth implied into early 2026
• Miners exploring HPC and GPU compute to diversify

Hit the like button. Feel free to subscribe. Let us know in the comments how you’re feeling about Bitcoin mining and your outlook into 2026. Find us at Luxor.tech or email [email protected].

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We unpack why power access and delivery speed will decide the winners of AI HPC in 2026, then rank our top picks: Riot, IREN, Cipher, Bitfarms, and Core Scientific. Bitcoin’s pullback frames entry points, but the core story is megawatts, contracts, and teams that can build at scale.

• Bitcoin price weakness and miner share compression
• Heat map review and 2025 standouts
• Cipher’s executed contracts, multi‑site pipeline, trusted build team
• Bitfarms’ pivot to HPC with Panther Creek, Scrubgrass, and financing stack
• IREN CSP model with Microsoft, GPU scale, and mining efficiency
• Core Scientific’s CoreWeave colocation deal economics and margin profile
• Riot’s Corsicana scale, operational turnaround, and capital access
• Power scarcity as the decisive edge for 2026–2027 deals
• Outlook for HPC demand growth and miner optionality

Make your way over to powermininganalysis.com. Under the news drop down, you'll see a newsletter sign up. That's where all of the registration forms will originate and be sent directly to your email!

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Markets open deep red as Bitcoin snaps support and miner stocks slide. We dig into AI HPC doubts, delivery risk, regulation tailwinds, Bitdeer’s operational surge, and why treasury strategy now decides who survives the next 24 months.

• Bitcoin breaks support and volumes stay thin
• Miner heat map turns red despite no new contract news
• AI HPC timelines, utilization risk, and build-to-spec challenges
• Core Scientific delivery cadence and implications for peers
• US crypto market structure bill as an institutional unlock
• Saylor’s accumulation and treasury concentration dynamics
• ABTC’s Bitcoin-per-share push and DAT premiums compress
• Yield on Bitcoin treasuries via hedging and financing tools
• Bitdeer’s hashrate growth, SEAL miner roadmap, and efficiency
• Power costs, hashprice pressure, and global hashrate shifts
• Bitdeer’s HPC conversions and POC utilization above 90%
• Miner Madness 5.0 contest details and newsletter entry

Sign up at powermininganalysis.com under News to get the free Friday newsletter and your contest entry form. “Smash the like button, feel free to subscribe, and tell us how you’re positioning into the pullback.”

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We compare Satoshis per $1,000 across major Bitcoin miners, stack it against MNAV, and weigh how HPC contracts are reshaping valuations. ETF demand, thin volumes, and Hive’s new Colombia listing set the backdrop as we map where equity delivers more sats than buying BTC.

• Bitcoin price steady near 90k with ETF inflows
• Miner volumes lower and heat map mostly red
• DATs premiums fading and discounts emerging
• MNAV for miners versus asset bases and debt
• Sats per $1,000 methodology and top results
• Contract value and power as key drivers
• Core Scientific delivery progress and comms gap
• Hive broadens access via Colombia listing
• 2026 outlook for HPC deals and margins
• Risk notes on projections and due diligence

Sign up for Miner Madness 5.0: log on to the website, subscribe to the newsletter under News, then complete the entry form when it arrives. Pick three mining stocks ($300, $150, $50) and include your 31 March Bitcoin price tiebreaker

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