Power Analysis

We map out a packed week for AI infrastructure stocks, from Bitcoin’s steadier tone to the deals and financing that separate real builders from hopefuls. We dig into Hive’s earnings and a massive AI cloud win, then connect the dots across insider buying, hedge fund filings, and the race to secure power and capital. 

• Bitcoin price action and why slower climbs help adoption 
• Strategy reserve build and what it signals for balance sheet resilience 
• Sector heat map read on miners versus HPC pivot names 
• Insider buying at Bitdeer plus Keel leadership buying patterns 
• Hive Digital earnings split between Bitcoin mining and HPC revenue 
• Sweden VAT provision and how to think about one-off charges 
• Hive’s $350M AI cloud contract using NVIDIA Blackwell Ultra GPUs 
• Simple NVL72 rack explanation and implied $ per GPU hour math 
• Cantor Fitzgerald price target logic and the path to higher ARR 
• Paul Tudor Jones buying Mara and Druckenmiller adding Iren, Bitdeer, Riot & Hut 8 
• Riot’s Morgan Stanley term loan details and why cost of capital matters 
• WhiteFiber’s North Carolina expansion and the retrofit-first data center playbook 

Let us know in the comments section below if you’re holding any of these stocks and your current top pick in the sector!

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We close out the week by mapping the biggest AI infrastructure headlines across Iren, Soluna, Core Scientific, and Riot, plus what Bitcoin’s range-bound tape means for miners right now. We also dig into how megawatts, contracts, and financing discipline are driving fresh Wall Street price targets and investor positioning.

• Bitcoin holding the $60K range and what “base building” could signal 
• Green close across AI infrastructure names and why volatility attracts shorts and day traders 
• Hive earnings timing and upcoming management check-ins 
• WhiteFiber’s capital formation playbook, dilution control, and the refinance flywheel 
• Keel’s deal confidence, permitting transparency, and why 15-year terms matter more than exact dates 
• Soluna’s revenue mix shift, cash position, EBITDA trend, and 6.3GW pipeline context 
• Core Scientific’s Polaris acquisition economics and why $/MW matters 
• Iren’s Horizon 1 delivery to Microsoft and what Nvidia Exemplar status validates 
• Price target updates for WiFi, Hut, TeraWulf, and Riot and the assumptions behind them 

Let us know in the comment section below what you thought of this week's interviews and your top pick currently in the space!

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We sit down with Soluna Holdings CEO John Belizaire right after Q2 earnings to unpack what is driving revenue growth, project momentum, and the company’s shift into AI data center infrastructure. We also get specific on why behind-the-meter power in Texas can move faster than traditional grid interconnections and what it takes to finance and execute billion-dollar AI campuses. 

• Q2 financial highlights including 145% year-over-year revenue growth and fifth straight quarter of sequential revenue growth 
• Operational updates across Briscoe Wind Farm integration and progress toward completing CADI 1 
• Pipeline expansion to 6.3GW and the strategy to redesign former Bitcoin sites into full-scale AI projects 
• Capital formation realities for AI data centers including project-level partners, joint ventures, and the shift from millions to billions 
• Why behind-the-meter load changes interconnection complexity and how ERCOT batch zero buckets affect developers 
• Status of D3 and CODI 2 including design, construction planning, LOI negotiations, and long-lead scheduling 
• Permitting and county engagement in Texas including tax abatement, infrastructure support, traffic planning, and community relations 
• How the MetroBlocks relationship is structured including fees and equity roll-back for alignment 
• Why execution talent is the new bottleneck and how leadership hires build in-house process power 

Let us know in the comment section below what you thought of Saluna's results and if you're currently holding shares!

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We walk through Keel’s Q2 results and why the reported numbers can look misleading while the company exits Bitcoin mining and builds AI data center infrastructure. We also break down what actually drives lease timing, power value, permitting confidence, and financing discipline as 2027 capacity becomes scarce. 

• Q2 highlights framed as proof of transition execution 
• Why quarterly earnings can understate long-term contracted value 
• Texas, New York, and Pennsylvania compared as three different regulatory and grid stories 
• Why we do not treat LOIs like signed deals and what the engineering work really involves 
• Moses Lake versus Sharon versus Panther Creek sequencing and permitting status 
• How 2027 power scarcity creates tenant tension and better commercial outcomes 
• Vertiv partnership scope and why build commitments must match lease commitments 
• Cost of capital viewed through levered yield on cost and return on equity 
• Load studies, expansion capacity, and what gives confidence at Panther Creek and Scrubgrass 
• Training versus inference economics and why geography matters for future demand 
• Community support projects used to solve real local problems and build trust 

Let us know in the comment section below what you thought of KEEL's results and if you're currently holding shares!

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We sit down with Sam Tabar to unpack Q2 earnings and the execution details behind WhiteFiber’s colocation and cloud GPU momentum, from NC1 billing to multi-year contract wins. We also press on Bit Digital’s NAV discount, capital allocation options like buybacks, and how Ethereum exposure becomes productive through staking. 

• WhiteFiber Q2 performance across colocation and cloud services 
• NC1 moving from build to customer deployment and billing 
• Permanent project financing as a capital recycling flywheel 
• Termination revenue, contract protections, and redeploying capacity 
• Expansion plans for NC1 and how customer selection works 
• Montreal data center retrofits and the path to more power 
• Capital allocation discipline, dilution avoidance, and financeable contracts 
• Crambu partnership and the 100MW GPU operating roadmap 
• Bit Digital’s discount to intrinsic value and buyback considerations 
• Holding WhiteFiber stake, covered calls idea, and ETH staking posture 

Let us know in the comments section below if you're currently holding shares in either Bit Digital or WhiteFiber and what you thought of their results!

Anthonys Info:

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We track a rebound day for HPC and mining-pivot stocks while Bitcoin hangs around the $63,000 range and the market keeps discounting strong fundamentals. We break down neo cloud earnings and explain why power, contract structure, and cash-based metrics matter more than the daily tape. 

• Bitcoin price action around US market hours and the Clarity Act watch 
• Why strong deal headlines can fade fast in share price performance 
• How short interest and sentiment can suppress HPC and Bitcoin mining stocks 
• Bitdeer’s integrated model, power footprint, machines, co-location, and why we see overlooked upside 
• Nebius as a neo cloud benchmark, revenue scale, adjusted EBITDA margin expansion, and contract value per megawatt 
• CoreWeave’s revenue surge, backlog strength, and the reality of massive CapEx and non-cash losses 
• Why global footprint and Europe matter for AI data centers and HPC expansion 
• WhiteFiber’s earnings, co-location growth, cloud services mix, and what NC1 billing could change next quarter 
• How retrofit data center builds can lower cost per megawatt and speed deployment 
• What price targets are implying for CoreWeave and WhiteFiber, plus the next catalysts we are watching 

Let us know in the comment section below if you’re holding any of these companies and your current top pick in the space!

Anthonys Info:

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We break down why AI data center contracts are starting to matter more than day to day Bitcoin price action for the best miners. We go deep on Riot Platforms earnings, the Anthropic lease, and what a full Corsicana deal could mean for valuation and future catalysts. 

• Bitcoin pulling back while miner stocks hold up better than expected 
• Volatility, weak mining revenues, and why “green shoots” matter in earnings season 
• ERCOT and Texas grid approvals as a filter for serious builders 
• UK proposal for a refundable data center commitment fee per megawatt 
• Riot revenue mix shifting with early data center revenue from AMD 
• Riot’s cost to mine breakdown, power credits, and the PPA advantage 
• Anthropic long term lease details and timelines at Rockdale 
• Corsicana LOI discussion and why power ready sites attract top AI labs 
• Financing approach including liquidity, recycled cash flows, and Morgan Stanley facility 
• ESS Metron engineering division as a speed and cost moat 
• Wall Street price targets and how analysts frame upside scenarios 
• WhiteFiber brownfield retrofits as a faster path to AI campuses 
• IREN’s NVIDIA GB300 designation and Sweetwater site progress 
• Keel price targets without a signed deal and what negotiations signal 

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Anthonys Info:

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We break down the latest Bitcoin volatility, the market-wide selloff in mining and AI infrastructure stocks, and why power access is now the real competitive moat. Then we dig into Bitdeer’s and Keel’s earnings, comparing their financial results with their very different paths toward HPC and AI data center revenue. 

• Bitcoin price pressure and why we avoid day-to-day chart obsession 
• Strategy’s ATM raise, Bitcoin sale and share repurchase, plus what it signals 
• Miner heat map selloff, with ABTC as the outlier 
• Riot rescheduling Q2 earnings and the most plausible reasons 
• Texas ERCOT batch zero pause as a filter for serious operators 
• Bitdeer Q2 results, adjusted EBITDA and balance sheet context 
• Bitdeer’s global power footprint, near-term pipeline and hash rate expansion 
• Norway co-location contract economics, PUE and tenant quality 
• GPU cloud and CSP ramp, utilization rates and capex per megawatt 
• Mining cost to mine, fleet efficiency and the SEAL miner roadmap 
• Keel Q2 results and the operational trade-offs of pivoting to HPC 
• Site-by-site updates, decommissioned mining, permitting and long-lead equipment 
• Keel liquidity, convertible note funding and what delivery risk remains 
• Cantor price targets and what changes once deals are signed 
• Upcoming guest schedule and questions to bring to Ben 

Let us know in the comment section below what you make of Kiel and BitDeer earnings and your top pick in the space currently!

Anthonys Info:

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We sit down with ABTC’s Michelle Tankimovich right after Q2 earnings to break down record Bitcoin production, steady margins, and what it means to keep building a treasury during price drawdowns. We also unpack sats per share, fair value accounting noise, and the strategic choices ABTC is making ahead of the halving and the next cycle. 

• Q2 highlights including 930+ Bitcoin mined and reserve growth above 8,000 BTC 
• Cost per Bitcoin mined and how gross margin stays near 49% to 50% despite a weaker Bitcoin price 
• Why management keeps accumulating Bitcoin through operating cash flow rather than relying only on capital markets 
• Satoshis per share as a key metric and how dilution discipline fits the strategy 
• How FASB fair value accounting creates large paper losses and how we interpret them 
• Hedging considerations and why the company prioritises its low-cost structure 
• CFO transition details and what derivatives experience could enable over time 
• Reverse split motivations including NASDAQ compliance and institutional investor optics 
• The 12 to 24 month focus including hash rate growth opportunities and industry shifts toward AI/HPC 
• Halving prep themes including fleet efficiency and manufacturer relationships 

Let us know in the comment section below what you thought about ABTC's results and if you're currently holding shares!

Anthonys Info:

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Bryce's Info:

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We sit down with MARA CEO Fred Thiel right after earnings to unpack the company’s shift from a pure Bitcoin miner to a powered land and data center developer focused on AI and HPC. We push on what truly constrains growth, how Texas grid policy affects timelines, and what investors should watch as leases and joint ventures turn power into long-term cash flow. 

• Q2 results in context of Bitcoin price sensitivity 
• Building a 4.8GW pipeline of powered land and future data center capacity 
• The “three constraints” framework: capital, compute and capacity 
• Why data center leases change financing versus Bitcoin mining risk 
• ERCOT batch zero pause, phantom queue clean-up and Matagorda readiness 
• Using Bitcoin mining to monetise power while data centers get built 
• Tenant selection, yield on cost and avoiding long-term credit mistakes 
• Community impact, property taxes and local benefits of data center builds 
• Why waiting for AI market maturity can beat being first 
• HUM and Vertebrae as optionality alongside the core strategy 
• Long Ridge acquisition, FERC approval process and keeping power on-grid 
• Starwood partnership mechanics, valuation per megawatt and leased-site options 

Let us know in the comment section below what you thought about today's discussion and if you're currently holding shares of MARA!

Anthonys Info:

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Patreon:

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Bryce's Info:

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https://twitter.com/McnallieM

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Business Inquiries:

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