Power Analysis

We break down fresh earnings from MARA and CleanSpark while tracking Bitcoin’s price action and why miners are being valued more like power and AI infrastructure platforms. The big question is whether power portfolios, Texas approvals, and signed data center leases can offset weak mining economics and restore investor confidence. 

• Bitcoin price context and why it still drives sentiment for mining stocks 
• Miner heat map read-through and how to think about value ranges 
• Why power capacity and megawatts per valuation matter more than headlines 
• Upcoming MARA, ABTC & KEEL interviews and what we want to learn from leadership teams 
• MARA earnings highlights, hash rate growth, liquidity, and the push toward HPC 
• Matagorda County Texas site details and the approval steps that matter 
• Bitcoin-backed loan mechanics, pledged collateral, rates, and why it’s a unique lever 
• Why the market is waiting on signed digital infrastructure leases 
• CleanSpark earnings overview, balance sheet points, and the Sandersville plan 
• Sandersville lease structure, long duration terms, and why predictable NOI changes the story 
• Texas ERCOT audit discussion and why serious developers welcome tighter process 

Let us know in the comment section below what you thought of these companies' results and if you're holding shares of either Clean Spark or Mara. 

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We walk through TeraWulf’s Q2 progress with CFO Patrick Fleury, focusing on Lake Mariner execution, lease economics, and why liquidity is a competitive weapon in AI data center buildouts. We also dig into power as the true bottleneck, how utility partnerships work, and what needs to happen for growth to scale without breaking timelines or returns. 

• CB3 coming online and beginning to earn rent revenue 
• Commissioning progress for CB4 and CB5 with a phased data hall ramp 
• Fluidstack amendments and rentalized costs that lift starting rent 
• Design changes that increase critical megawatts and boost lease term revenue 
• Liquidity strategy and why holding large cash balances enables flexibility 
• Letters of credit as a tool to protect ratepayers and shift execution risk 
• Capital allocation priorities across equity contributions, LCs, and new sites 
• Why annual growth targets stay disciplined despite massive demand 
• Supply chain, capital markets, and electrician labor as binding constraints 
• Power first strategy and preference for front of the meter grid connection 
• Industry outlook on leasing, future M&A, and potential REIT style evolution 
• Insider buying rationale and how management frames contracted value 
• Financing risk management with multiple contingency paths for debt

Let us know your thoughts and feel free to subscribe!

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We sit down with HUT 8 CEO Asher Genoot right after Q2 earnings to unpack the new data center leases, the financing behind them, and why repeatability matters more than hype. We also dig into Texas scrutiny and local pushback, plus how we think about long-term trust with tenants when AI demand is ripping higher.

• Q2 earnings highlights including three leases and contracted capacity scale
• Project-level financing approach and why non-recourse structure matters
• Texas moratorium concerns including grid reliability, water use, and community protections
• Correcting misinformation in local communities and building trust through process
• Why the lease structure stays consistent across multiple tenants
• Macro demand for AI capacity and why we avoid getting greedy on pricing
• Co-location versus CSP considerations and what we watch next
• Highrise.ai, chip needs versus wants, and why compute and infrastructure are separate bets
• Our view of HUT 8 as a platform connecting power to technology

Let us know in the comment section below what your thoughts are on HUT 8 and if you’re currently holding shares!

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We map the market mood from Bitcoin’s recent trough to S&P volatility, then pressure-test the “miners to AI data centers” thesis using fresh earnings and operating updates. We break down what’s real cash performance versus accounting noise, and why power delivery and contracted HPC revenue are becoming the new north star. 

• Bitcoin price action and cycle patience framing 
• S&P all-time-high headline then intraday reversal as a volatility reminder 
• AMD data center growth as a demand signal for HPC and AI compute 
• Miner stock heat map and why short-term moves can mislead 
• Riot earnings delay and what timing could imply without over-speculating 
• WhiteFiber pre-market earnings date and what to watch with NScale 
• CEO social posts and how leaders talk about drawdowns without pumping 
• CleanSpark July production metrics including hashrate, efficiency, BTC sold, and HODL value 
• Galaxy earnings focus on Helios and accelerating data center segment performance 
• TeraWulf earnings breakdown including HPC revenue, warrant fair-value impact, and megawatt expansion plans 
• Community and permitting realities for data center development plus on-site generation and battery storage trends 

Let us know in the comment section below what you thought of today's results and if you're holding any of these companies!

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We walk through a packed earnings week where Bitcoin price stability masks major shifts in AI data center deals, grid constraints, and how miners are trying to turn power into predictable cash flow. We break down what Cipher and Hut 8 report, why Texas pausing new data center approvals matters, and how new contracts from names like Bitdeer and IREN reshape valuation. 

• Bitcoin price range and why we stay long-term focused 
• Clarity Act odds and why regulatory framework matters 
• Texas ERCOT pause on new data center approvals and the queue problem 
• What the pause could mean for existing powered sites 
• Bring your own power and behind-the-meter generation as a strategy 
• Bitdeer’s Norway tidal facility lease, PUE, revenue per megawatt, and margin discussion 
• Cipher earnings, one-offs, adjusted EBITDA, and the HPC rent timeline 
• Cipher pipeline expansion including Apollo and other site progress updates 
• Hut 8 earnings, bitcoin treasury mark-to-market impact, and adjusted EBITDA 
• Hut 8 project financing, contracted AI capacity, and delivery timelines 
• Cantor and Rosenblatt price targets and how analysts frame 2028 style multiples 
• ARR per megawatt chart takeaways and why deal structure still matters 
• Planned gigawatt portfolios and why diversification beyond Texas can help 
• Leadership and board changes at WhiteFiber and MARA 
• Terawulf RSUs, tax mechanics, and what insider holding can signal 
• IREN closing the Marantis acquisition and building a full-stack AI platform 

Take a second, smash a like button, guys. If you're not already subscribed, McNallie Money, feel free to join. And let us know in the comment section below what you made of today's headlines and your top pick in the space currently!

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Bitcoin steadies near the mid $60Ks while AI infrastructure demand accelerates, pushing power, build timelines, and cloud backlog to the center of the trade. We connect custody headlines, miner stock volatility, and earnings-season catalysts to one big idea: the bottleneck is deliverable compute powered by real megawatts.

• Bitcoin price range context and why we zoom out
• Coldcard breach and the renewed custody debate
• Michael Saylor’s reserve moves and interest coverage framing
• Cloud backlog as the clearest capex demand signal
• Why AI needs power and why GPUs still need places to go
• Miner stocks rebounding and decoupling from daily Bitcoin moves
• Rising build costs per megawatt and talent premiums
• Earnings week watchlist across major AI infrastructure names
• Bitdeer auditor change as a maturity and scale signal
• Wall Street price target updates and what they imply
• ABTC earnings positives, FASB fair value impact, and key metrics
• Matt Prusek’s departure and ABTC interim CFO update
• Iren’s Sweetwater construction progress and open investor questions

Let us know in the comment section below how you’re feeling about the sector as a whole and your top pick in the space currently!

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We track a wild week across Bitcoin, AI infrastructure stocks, and the HPC data center buildout, then connect the dots between volatility, forced selling, and what actually drives revenue per megawatt. We also break down Amazon’s AI-fueled AWS growth, key 13G institutional filings, and why BitDeer may be one of the most overlooked AI power plays. 

• Bitcoin price action and weakening momentum after base building 
• Situational Awareness unwind and what 4x leverage does in volatile small caps 
• Citadel’s role in the block trade and why timing matters 
• Daily performance check across mining and HPC names plus contract highlights 
• Wi-Fi and NScale momentum plus IPO chatter and partner upside 
• TeraWulf 13G details and what institutional ownership signals 
• Morgan Stanley’s view of undervalued capacity and the EV-to-watt lens 
• Bitdeer deep dive: vertical integration, SEALMINER economics, and HPC ramp 
• AI infrastructure constraints: grid timelines, labour shortages, rising build costs 
• Amazon earnings takeaways: AWS AI growth, capex, and customer deployment teams 

Let us know in the comment section below your top pick currently in the space? 

Make sure you pop over to the website poweranalysis.io you can sign up free to do so and we've also updated all the valuation analysis tables for each one of the companies we cover!

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We watch a historic one day reversal rip through AI infrastructure stocks and explain why the fundamentals still point to runaway compute demand and a power bottleneck. We also break down Microsoft and Meta earnings, connect the dots to Iron and other power-first operators, and share how we trade volatility with patience and math. 

• Bitcoin rally context and why regulatory clarity matters 
• Record green day across many AI infrastructure names while weekly and monthly heat maps stay red 
• Why leverage and margin can break accounts during fast market swings 
• Upcoming earnings and interview pipeline plus how to submit questions 
• NScale acquisition as a vertical integration signal for AI cloud platforms 
• BlackRock 13G filings and what institutional positioning implies 
• Microsoft earnings strength, cloud growth, faster GPU deployment, premium pricing signals 
• Data center depreciation moving from 15 to 25 years and why that impacts margins 
• Meta revenue growth alongside margin pressure from massive AI CapEx 
• “GPU demand stays tight” commentary and why reselling compute is a real option 
• IREN Childress buildout progress, mining capacity coming offline, and true cost per megawatt 
• Our dip buys, options trades, profit taking framework, and keeping cash for value 

Let us know in the comment section below if you took advantage of yesterday's dip and how you're feeling about the account today!

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We react to the Fed holding rates and unpack why Bitcoin volatility and future rate expectations still trigger a brutal sell-off across AI infrastructure and miner-adjacent stocks. We then dig into what actually matters next: inflation drivers, staffing up with real HPC talent, contract economics, valuation methods, and what earnings could look like with FASB and big Bitcoin treasuries. 

• Fed decision context and why markets sell off anyway 
• Bitcoin volatility and how it feeds into equity fear 
• Inflation pressure from data center build bottlenecks and energy costs 
• Why power remains the core bottleneck for HPC demand 
• Core Scientific board appointment and what it signals about scaling 
• Hut 8 contract economics through NOI multiples and implied valuation ranges 
• How Bitcoin HODL positions can swing earnings under FASB 
• Keel timeline clues from job postings and the pace of deal-making 
• IREN investor relations hire and the broader talent land-grab 
• What makes an HPC deal attractive: revenue per MW, cost pass-through, WACC 
• Institutional interest and how we think about DMG-style upside scenarios 

Let us know in the comment section below what you thought of today's headlines and your top pick in the sector currently!

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We break down why AI colocation revenue is starting to matter more than pure Bitcoin mining for public miners, even while the whole sector trades deep red. We dig into Applied Digital’s earnings surprise, Core Scientific’s earnings details, and the new AMD deal that pushes contracted capacity into gigawatt territory. 

• Bitcoin price weakness versus miner stock drawdowns 
• Clarity Act timing and why market structure matters 
• Heat map view of miners and where value is showing up 
• Upcoming earnings calendar and what questions to ask management teams 
• Hive price target upgrade and why Paraguay matters 
• Applied Digital’s HPC AI revenue ramp and why energisation timing drives quarterly results 
• Core Scientific revenue mix, adjusted EBITDA, and how noncash warrant charges distort net income 
• Core Scientific buildout progress and how billing scales with megawatts 
• AMD 530MW partnership details and what 1.1GW contracted capacity means 
• Data center cost breakdown per megawatt and the labour plus equipment bottlenecks 
• Galaxy’s second Texas data center site and the multi-campus strategy trend 

Let us know in the comment section below what you thought of today's announcement from Core Scientific and your top pick in the space currently! 

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