Power Analysis

We sit down with TeraWulf CFO Patrick Fleury right after the Anthropic announcement to break down the deal terms, the financing structure, and what it means for long term shareholder value. We also unpack why TeraWulf is selling the Abernathy JV stake, how site selection drives terminal value, and where power markets like Texas can mislead investors. • overview of the two announcements and how they fit TeraWulf’s priorities • rationale for selling Abernathy and recycling capital into wholly owned sites • Hawesville lease structure with Anthropic including 20-year term and escalators • investment grade credit support framework and why it matters for project finance • yield on cost versus WACC and why leverage discipline drives equity value creation • valuation walk-through using NOI, cap rates, and per share impact • PUE strategy and designing capacity around peak versus average conditions • negotiation complexity and why leases and SLAs keep getting longer • terminal value thinking based on latency, population radius, and grid power economics • ERCOT realities, interconnection queues, and the risk of power assumptions • who owns technology refresh costs and why maintenance capex assumptions get mis-modeled • labour constraints for electricians, regional execution, and EPC partner selection • pipeline outlook for Morgantown, Eastern Kentucky, and potential Europe expansion Let us know in the comment section below if you're currently holding shares of WULF and what you thought about yesterday's news!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Bitcoin steadies above $62K as AI infrastructure names rebound, but the bigger story is how hyperscalers and neo-clouds are redefining the market for compute and power. We unpack Meta selling excess compute, track new international deal flow, and run the numbers on TerraWolf’s massive long-term Anthropic contract. • Bitcoin weekend strength and what it means for miner revenue • Michael Saylor’s Bitcoin sale to fund dividend obligations and what it signals • Meta selling spare AI compute and the competitive impact on AI cloud providers • Why AI infrastructure stocks sold off and why volatility cuts both ways • ABTC’s 1-for-15 reverse split plus growing Bitcoin treasury and satoshis per share metric • Keel’s new president hire and what it suggests about near-term deal execution • SATO’s Bhutan renewable AI data center LOI aimed at Indian AI compute demand • Nebius entering Spain and accelerating its European expansion with efficiency focus • Anthropic Australia capacity rumors plus investor holdings that raise eyebrows • TeraWulf’s 20-year 401MW Anthropic deal, implied revenue per megawatt, and PUE implications • TeraWulf’s Texas JV stake sale and what geographic focus might look like next • Valuation sensitivity framework and Cantor’s updated TeraWulf target Let us know in the comment section below what you thought of today's headlines and if you're holding any of the shares discussed!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We go from Drake and viral stock videos to a serious framework for investing in OpenDoor, AI data centers, and the miner-to-HPC transition. We also break down why executive compensation headlines can be a distraction and how systematic crypto regime models can help manage brutal volatility. • Drake’s unexpected role in building an audience for stock research • OpenDoor’s turnaround timeline under new leadership and why rates matter • Why pullbacks do not automatically break the OpenDoor thesis • The Iren RSU backlash and why insider activity can be misread • Iren’s strategic path with NVIDIA and how vertical integration could lift GPU economics • Token based AI usage and what rising demand means for power consumption • Cipher’s co-location model versus CSP style full stack compute • Why popularity increases volatility and how newcomers change price action • Letting winners run while sizing risk with systematic regime signals • EMJX and the case for a hedged multi-asset crypto treasury approach • Prediction models beyond markets from Bitcoin to Supreme Court decisions Let us know in the comments section below what you thought of today's discussion and your top picks in the sector currently!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down IREN’s biggest new headlines and why a single compensation filing can swing investor sentiment faster than any quarterly update. We zoom out from red days on the chart to the long game: power, talent, contracts, and the mechanics that could turn IREN into a full-stack AI infrastructure player. • Bitcoin price action and what it signals for risk appetite • Red tape across AI infrastructure stocks and potential rotation • IREN’s run from $5 to $76 and why trimming matters • New C-suite hires from Oracle and Google ecosystem roles • What the $800M RSU grant actually is per Form 4 filings • Vesting periods and holding restrictions that limit near-term selling • Say-on-pay votes as the shareholder lever on compensation • How social sentiment flips and what that reveals about conviction • The NVIDIA relationship and the 30M share purchase right at $70 • Power pipeline math across megawatts and gigawatts • A valuation framework tied to revenue per megawatt and EBITDA margins Also make sure you pop over to the website poweranalysis.io. Newsletter comes out tomorrow, 100% free. Let us know in the comments section below if you're currently holding shares of Iron and how you're feeling about the company currently!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Bitcoin stays choppy under 60,000 while mining and AI infrastructure stocks swing even harder, so we slow down and focus on what the numbers actually say. We walk through Hive’s latest financing, ABTC’s Nasdaq compliance move, and an updated Bitdeer valuation tied to the Tydal Norway co-location narrative. • Bitcoin price action and what it signals for sentiment • Why miner volatility is normal and why we take profits • Lessons from the 2021 cycle on leverage, debt and survival • Heat map read on one month vs one year performance • Hive’s zero coupon senior secured notes and AI HPC capex plans • Why Scandinavia can improve data centre economics and PUE • ABTC’s 15 to 1 reverse split to maintain Nasdaq listing compliance • Bitdeer’s power scale, HPC revenue, SEAL miner efficiency and growth pace • Tydal Norway assumptions and sensitivity analysis for implied share value Let us know in the comment section below what you think of Bitdeer's numbers and if you're currently holding shares!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Bitcoin slides into the high $50Ks and we zoom out on cycle expectations, investor psychology, and why pullbacks can create opportunities. We then track how crypto miners are turning into AI infrastructure companies, where power, HPC contracts, and execution matter more than headlines. • Bitcoin’s pullback and why we avoid calling a bottom too early • How investor psychology flips between fear and FOMO • Miner weakness versus year-to-date strength and the case for taking profits • The halving business model problem and why the next one could force a washout • Power strategy as the real differentiator for AI infrastructure and HPC • Battery storage as a response to grid constraints and PJM backlog • Russell 2000 and Russell 3000 inclusions as liquidity catalysts • WhiteFiber’s positioning and why counterparty quality matters • Bit Digital net asset value math and why a discount can persist • Q2 earnings season expectations and what happens when milestones slip Let us know your thoughts in the comment section below, specifically on TeraWulf and that Hawesville, Kentucky site!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We size up Bitcoin’s slide under $60,000 and what “near the bottom” really means when you invest long term. Then we follow the money into preferred dividends, AI data center deals, and NVIDIA-grade infrastructure as miners pivot from hash rate to GPU hours. • Bitcoin range talk and long-term holder mindset • Saylor’s monetisation plan, dividend coverage fears, and buyback logic • Preferred shares trading below par and what daily dividends change • Why HPC AI looks more predictable than Bitcoin mining • Bitdeer and the Tidal Norway AI infrastructure signal • Bit Digital’s Ethereum treasury, staking yield, and WhiteFiber value • Russell 3000 and Russell 1000 inclusions for Keel and Iren • Iren’s NVIDIA Exemplar Cloud status and what it implies for enterprise demand • TeraWulf momentum and Citi’s $36 target Before we get into it, take a second, smash the like button, guys. If you're not already subscribed, McNallie Money, feel free to join. So make sure you guys drop your questions!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down a brutal week in markets by zooming out on Bitcoin’s cycle and asking what “near the bottom” really looks like when miners are under real margin pressure. We also dig into why AI infrastructure and HPC conversion is becoming the survival plan, from financing moves to execution signals that hint at the next wave of deals. • zooming out on Bitcoin’s five-year cycle and where $60K sits versus the last peak • using hash price and the hash rate index to gauge miner profitability after the halving • why true mining costs go beyond energy to include fleet, payroll, and overhead • the shift from pure-play mining toward HPC and AI data center conversion across major miners • leverage liquidation cascades hitting Bitcoin treasury preferreds and pushing them off par • how dividend resets and cash coverage fears change the risk profile for preferred structures • Russell reconstitution effects and why flows can flip AI infra names intraday • why shareholder votes matter, with Core Scientific as the example • Hive’s $115M 0% exchangeable notes, cap call structure, and what the funding targets • a simple valuation framework for GPU colocation deals using $/MW, margins, capex, and multiples • Bitdeer’s AI platform recognition and why vertical integration matters in mining and AI Take a second, smash the like button, guys. Big help to myself and the channel. If you're not already subscribed, McNally Money, feel free to join. And let us know in the comment section below how you're feeling about your portfolio and your current top pick or position in the AI infrastructure space. Hit the like button, and we'll see you back here on Monday!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down why Bitcoin at roughly $59K makes mining margins brutal and why difficulty and hash rate shifts can change the picture fast. We also connect new AI infrastructure price targets and earnings signals to the deal-making reality behind megawatts, GPUs, and brand strategy. • Bitcoin price pressure and why miners may switch off when margins collapse • Why difficulty and hash rate matter as much as BTC price • CoreWeave’s new analyst targets and what EV to revenue implies for valuation • Micron’s blowout quarter as a read-through for AI data center demand and DRAM pricing power • Sector heat map pullback and how sentiment can flip on a single announcement • Keel retail momentum and the mid-to-late summer window for multiple deals • Sphere 3D and Bitdeer co-mining as a clue for crypto to AI conversion planning • Hive’s Sweden LOI for up to 10,000 NVIDIA GB300 GPUs and what 25MW of IT load can mean • Hive’s $100M 0% senior note and why funding follows announcements • IREN and the Golden State Warriors partnership plus the debate over timing and spend • Why sports and conference sponsorships can be a talent and customer strategy in AI cloud If you're not already subscribed, McNallie Money, feel free to join. pop over to poweranalysis.io, sign up for the free newsletter!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We react to Bitcoin breaking below $59K, then zoom out to the bigger power story driving AI data centers and miner conversions. We also unpack fresh analyst price targets, a key delay at IREN’s Oklahoma site, and why execution speed is becoming the edge in HPC.• Bitcoin weakness and what it does to miner and AI infra stocks• Why nuclear timelines make existing miner power more valuable today• CoreWeave’s Europe expansion and the global race for AI compute• Heat map context, year-to-date gains, and why price alone is not a signal• IREN Oklahoma tax abatement delay and what community process can change• Real-world noise levels from ASIC mining versus GPU data centers• WhiteFiber’s retrofit strategy, contract economics, and revenue ramp• Citizens price targets, EV/EBITDA multiples, and what assumptions matter mostLet us know in the comment section below what you think of today's price targets and your outlook for Iren moving forward!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down why AI data center buildouts are now a race against permitting, power access, and delivery timelines rather than hype. We also connect market volatility and Bitcoin miner fundamentals to what matters most for HPC colocation deals: megawatts, PUE, location, and execution. • Bitcoin weakness and why miner-linked AI names stay volatile • One-year heat map performance and why Keel earns a premium • TeraWulf Kentucky campus timelines plus phase expansion potential • Benefits of expanding existing sites, from learning curves to staffing • Bitdeer scale, machine efficiency, and why it supports an HPC pivot • Community involvement, permits, and water cooling concerns • Soluna behind-the-meter strategy and why interconnection queues matter • BitZero Nordic land reservation and Europe’s hyperscale demand • Keel PUE advantage, de-risking to NTP, and inference-driven economics • Analyst price targets for Cipher, IREN, and Hut 8 Let us know in the comment section below what you think of today's discussion on Keel and TeraWulf!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down why AI infrastructure stocks and Bitcoin miners swing so violently at the start of the week, then map the catalysts that could actually justify today’s valuations. We walk through Bitcoin near $65K, treasury accumulation, and how miners like Keel, Hive, Hut 8, and Galaxy are trying to turn power into contracted HPC revenue. • Bitcoin price momentum and why $65K matters for accumulation • Strategy and Strive treasury moves, reserves, and balance sheet signalling • SATA volatility explained through leverage and unwind mechanics • Miner heat map read-through and what the market rewards right now • Keel’s HPC pivot, transparency on permitting, and the risk of priced-in deals • Russell 3000 and Russell 2000 reconstitution effects on passive flows • BitFuFu share repurchase programme as an anti-dilution signal • Hive’s HPC revenue run-rate targets, GPU buildout, and training versus inference location limits • Hut 8 valuation assumptions tied to a potential 400MW project and power pipeline • Galaxy Helios origin story, phased capacity, PUE, and multi-gigawatt upside Let us know in the comment section below if you're holding shares in either Hive or Kiel and your current top pick in the sector. Let us know in the comments, you guys, if you want to hear more about Galaxy, if you're holding shares, so on and so forth. Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Markets end the week green for AI infrastructure stocks even as Bitcoin retreats, strengthening the case that miners are being valued on power and future HPC revenue. We break down Hive’s double announcement, compare GPU contract economics, and run through fresh updates from Bitdeer, IRIN, and BitZero. • Bitcoin pullback versus AI stock strength and what decoupling implies • Fed chair comments on AI as a major economic transformation • Heat map check on sector leaders and laggards near 52 week highs • Hive Swedish site purchase and tier three upgrade plan • Hive Bell Canada and Cohere sovereign AI partnership details • Per GPU hour math and why CSP pricing appears to be rising • Analyst price target reactions and how Wall Street values power pipelines • Bit Digital AGM housekeeping and what to watch • Bitdeer May production surge plus expanding HPC footprint and utilization • IREN deal patience, pipeline scale, and expectations for next contracts • BitZero refreshed deck and Norway LOI economics Let us know in the comment section below your top pick in the sector and if you're currently taking any profits!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track the latest “when deal” signals across Bitcoin miners turning into AI infrastructure plays, using fresh company updates and a tighter valuation framework. We also break down why small proof points like DMG’s first prefab co-location tenant can matter as much as headline megawatts. • Bitcoin price context and why macro still leaks into crypto markets • Miner and AI infra stock heat map moves and what’s driving green days • BitZero’s momentum plus liquidity impact from a Nasdaq listing • DMG’s first prefabricated data center co-location contract at Christina Lake • SCIF-ready capacity and the “sovereign AI” angle for secure compute demand • Updated DMG valuation sensitivity using revenue per megawatt, EBITDA margin, and multiples • DMG monthly mining ops update including production, efficiency, Bitcoin sold, and HODL value • How HODL-to-market-cap shifts as AI narratives lift equity valuations • VanEck’s enterprise value per power approach and why leased capacity changes the comps • Keel deal timing expectations and how much of the upside looks priced in • Riot’s modular nuclear strategy with Terrestrial Energy and what it could unlock • Corsicana valuation math and what a hyperscaler-scale lease could mean for Riot shares Let us know in the comment section below your top pick in the space and how you're feeling from a macro position!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down a volatile market day where Bitcoin pulls back but AI infrastructure stocks keep moving, signalling a real shift in how investors value the sector. We also unpack key takeaways from our interview with VanEck’s Matt Sigel, focusing on power-first strategies, portfolio risk, and which operators look built to execute. • Bitcoin price action and why we stay long-term focused • SpaceX IPO headlines and what they imply for AI compute demand • Matt Sigel’s Wall Street view on diversification and volatility control • Node ETF holdings as a lens on institutional positioning • Heat map winners and why mining stocks can decouple from Bitcoin • BitZero’s Nasdaq week, Norway and Finland buildout, and power-first thesis • Cipher Digital’s ERCOT hire, grid strategy, and $810M financing for HPC • Core Scientific site delivery updates and what the CoreWeave vote signalled Let us know in the comment section below what you thought of today's discussion, if you're currently holding any of these companies!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with VanEck digital assets researcher Matthew Sigel to pressure-test the Bitcoin cycle, the reality behind altcoin “adoption”, and why public markets still matter when disclosure is scarce. We then dig into the AI infrastructure land grab, where former Bitcoin miners try to turn power pipelines into durable HPC cash flows while investors manage hype, catalysts, and governance risk. • Matt’s career path from Bloomberg and CNBC to CFA-driven security analysis and crypto research • Why the late-2024 rally looked like relief rather than mass adoption, especially in altcoins • Volatility-adjusted ways to think about drawdowns, bottoms, and time-based Bitcoin accumulation • The mining slowdown, hash rate dynamics, and what could replace North American reinvestment • How miners convert a high cost of capital into value via cheaper GPU and data center financing • Time-to-power, deglobalization, and sovereign data as underpriced drivers of regional buildouts • What investors should discount: uncontracted megawatts versus signed leases and energization timelines • Deal structures that change risk, including powered-shell leases, triple net leases, and running GPUs • SpaceX as a potential catalyst through leases, acquisitions, and broader compute demand • Edge inference opportunities and the convergence of AI and Bitcoin supply chains • Skepticism on leveraged crypto “holding company” models and why NAV discounts can persist • Practical profit-taking signals, diversification, and ETF-style rebalancing to reduce volatility • Corporate governance and executive compensation trends improving from ‘grade F’ toward investable norms Let us know in the comments section below what you thought of today's discussion and Matt's insights!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We connect a green day in equities and crypto to the real mechanics behind miner profitability and the accelerating pivot toward AI infrastructure. We also pressure-test AI compute pricing by comparing GPU spot rates with blockbuster SpaceX contracts and the earlier IREN Microsoft deal, then ask what that means for strategy going forward. • Bitcoin trend and why sentiment flips fast in crypto markets • Difficulty adjustment and hash price jump as a short-term tailwind for miners • Why some miners plan to exit Bitcoin mining and redeploy power to HPC • MicroStrategy’s continued Bitcoin accumulation and growing USD reserve • Market reaction to headlines around an Iran deal and oil flow expectations • Mining stock heatmap highlights and what drives the biggest movers • Bit Digital and WhiteFiber discount to NAV as Ethereum rallies • IREN’s Nostrum acquisition adds 490MW in Spain and expands European footprint • Tokenized AI usage and why flat subscriptions may not last • SpaceX AI cloud compute contracts with Anthropic and Google broken into per-GPU economics • GPU spot pricing benchmarks for H100, H200, B200, B300 and GB300 ranges • Strategic debate: lock in colocation leases or build a neo cloud and charge hourly rates Let us know in the comment section below what you think of today’s discussion and IREN’s most recent press release! Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

SpaceX starts trading in a historic debut, and we unpack what the first day move signals for investor demand, index inclusion, and the broader tech cycle. We also weigh a bold Bitcoin path to 250K and connect it to the accelerating race for AI compute, power, and data center capacity. • Bitcoin’s pullback to the mid-60K range and what it says about the current cycle • Mike Alfred’s 250K Bitcoin target and why timing matters • Miner stocks decoupling from Bitcoin and the market’s shifting attention to HPC • Anthropic’s push for gigawatt-scale data center leases and Google-backed payment guarantees • How market cap thresholds relate to Nasdaq 100 inclusion and sector visibility • BitZero leadership and board changes and what they enable operationally • HUT 8’s chair transition and why capital markets experience matters • Soluna’s behind-the-meter wind strategy and the Dorothy and Katy buildout roadmap • Iren’s Australia campus as a counterexample to NIMBY resistance • Why big IPOs often pull back and how lockups shape post-IPO supply Let us know in the comment section below if you got involved in the SpaceX IPO personally and your thoughts on the sector moving forward!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We react to a rare green day across Bitcoin and AI infrastructure names, then dig into what the SpaceX IPO could do to liquidity, valuations, and capital rotation across the market. We also share fresh deal and forecast updates from Keel, Hive BuzzHPC, White Fiber, and Soluna, including a step-by-step valuation model tied to a 100MW AI buildout. • Bitcoin bounce and why sentiment flips fast • SpaceX IPO structure, demand versus supply and potential knock-on selling • SpaceX business units, Starlink profitability and AI infrastructure losses • Why miners keep mining while preparing the GPU switch to HPC • Heat map performance, profit taking and rotation between Bitcoin and AI stocks • Keel interview highlight and what “more confident” implies for deal timing • Labour constraints by region and why Pennsylvania looks advantaged • Hive BuzzHPC ARR ramp and the mix of CSP versus co-location growth • WhiteFiber’s new contracts, project finance structure and monetizing existing H200 GPUs • Hyperscaler versus enterprise customers, revenue per megawatt versus financing ease • Soluna CODI 2 RFP launch, MetroBlocks joint venture and a 100MW valuation framework • Sensitivity analysis on revenue per megawatt, EBITDA margin and implied share price impact Let us know in the comment section below if you're currently holding any of the companies mentioned and your thoughts on SpaceX IPO tomorrow!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with Ben Gagnon, CEO of Keel Infrastructure, right after the company’s $458M convertible raise to unpack why the timing matters and how the capital supports permitting, leasing and locking in expansion megawatts. We also press on deal confidence, disclosure timing, and why “not all megawatts are created equally” as AI demand pushes buyers from 2027 power toward 2028. • rationale for the convertible raise and why management calls it opportunistic and strategic • how Keel thinks about runway, liquidity and funding expansion capacity beyond the headline sites • what a near-billion-dollar balance sheet signals to potential tenants and partners • how the capped call works conceptually and why flexibility matters with convertibles • why management says it is “more confident” on three deals by year-end while staying inside NDAs • the plan to announce signed deals quickly rather than waiting for earnings timing • pros and cons of preleasing far out versus contracting closer to delivery • how token-based AI usage could change who pays premiums and how lease economics evolve • labour and construction context, with Pennsylvania positioned differently from overheated markets Let us know in the comment section below what you thought about this big announcement from Kiel and if you're currently holding shares!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down how AI infrastructure is pulling attention and capital, from token-priced AI subscriptions to hyperscaler demand for long-term compute capacity. We compare how different players finance data center builds and then walk through a detailed valuation model for Applied Digital’s contracted megawatts. • Bitcoin’s price action tied to macro risk and tech sentiment shifts • AI subscriptions moving toward token billing and utility-style pricing • SpaceX compute targets used to frame demand and valuation expectations • Heat map takeaway showing AI-linked stocks outperforming Bitcoin • Financing toolkit explained: senior secured notes vs converts vs dilution • HUT 8 Beacon Point terms and what investment grade tenants unlock • Keel’s convertible raise, cap call cost, and why the client matters • Keel pipeline upside, deal timing, and why one contract can re-rate a stock • Applied Digital’s contracted portfolio through 2028 and revenue per megawatt • Applied’s 7% senior secured notes and how contract quality affects capital costs • Applied valuation analysis and what might already be priced into shares Let us know in the comments section below if you're currently holding shares of applied and what you thought about today's episode!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down a brutal market sell-off and what it reveals about volatility in Bitcoin and crypto mining stocks, then zoom in on the companies using power strategy and long-term HPC contracts to build more predictable revenue. We also share why miners are racing away from thin mining margins toward AI data centers, GPU deployments, and financed infrastructure deals. • bitcoin price action and stock volatility, why we keep cash ready • profit-taking discipline and the case for non-correlated assets • BitFuFu’s hybrid model, cloud mining margins and a jump in self-mining output • Cipher’s Stingray momentum, AWS as client and 6% financing implications • Hive’s GPU expansion plan, ARR targets through 2026 to 2028 and what it takes to reach them • Core Scientific build-out progress and why mining profitability keeps getting squeezed by difficulty • Soluna’s vertical integration, site pipeline and the Metrobloks JV for a 350MW AI/HPC campus • Soluna monthly production metrics, hosted hash growth and what matters as HPC ramps Let us know in the comment section below how you're feeling about the market in general and your top pick in the space currently!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Markets snap back to green as we track Bitcoin’s rebound and why crypto equities can move hard even on modest price changes. We then dig into AI data center deal math, using fresh disclosures to stress test what megawatts could mean for Cipher Digital and Keel Infrastructure share price upside. • Bitcoin recovery, cycle expectations, and why daily swings matter less after multiple cycles • Michael Saylor and Strategy’s headline moves, plus what treasury behaviour signals to the market • Sector heat map, standout movers, and what a broad risk-on day can hide • Nebius UK expansion with Nvidia infrastructure and what real enterprise workloads imply for demand • Bitdeer executive departures and why talent changes matter during an AI pivot • Cipher Digital Stingray compute details, AWS as tenant, $810M secured note, lease structure and guarantees • NOI vs EBITDA and why margin definitions change valuation outcomes • Valuation table walk-through for Stingray, including capex per MW, multiples, and sensitivity ranges • Keel Moses Lake speculation, nearby site context, and a 14MW example model with share price sensitivity Let us know in the comment section below if you're holding any of the companies discussed and what you think of Anthony's valuation analysis tables!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We watch a brutal sell-off slam Bitcoin, miners, and traditional assets at the same time, then zoom out to the cycle context and why profit-taking keeps you in the game. We also dig into why BitZero stays green, how major infrastructure financing is evolving for Hut 8 and Keel, and what these deals signal for AI data centers and HPC demand. • broad risk-off sell-off across Bitcoin, crypto equities, gold, and oil • Bitcoin below $60K, drawdowns, and the four-year cycle framing • why taking profits in volatile names creates optionality • miner heat map reality check and how Bitcoin can lag miners • BitZero momentum, IPO context, and why the Nasdaq uplist matters • BitZero data center footprint in North America and Scandinavia • Norway AI lease details, power scale, revenue potential, and margin targets • Hut 8 Beacon Point senior notes, non-recourse structure, and pass-through costs • Keel convertible raise, conversion terms, and funding a multi-site pipelineLet us know in the comment section below how you're feeling today!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Bitcoin’s pullback puts pressure on miners, but the AI and HPC transition is starting to break the old link between mining stocks and BTC. We walk through HUT 8’s latest financing move and a CleanSpark AI valuation model to show how power, contracts, and capital structure can drive returns. • zooming out on Bitcoin’s cycle and what a 20% monthly drop means for miner earnings • ETF flows, macro stress, and why capital rotates between tech and crypto • why AI data centers and HPC contracts can decouple miners from Bitcoin price swings • reading the heat map, profit-taking logic, and how volatility changes positioning • quick updates on miners transitioning to HPC, including deal pipelines and timelines • HUT 8 leadership and why finance experience matters for scaling data centers • Beacon Point funding details and the practical “how do you pay for it” question • CleanSpark May production metrics, efficiency, HODL value vs market cap, and consistency • CleanSpark AI valuation assumptions: PUE, revenue per MW, EBITDA margin, capex per MW, EV/EBITDA multiple • sensitivity analysis and why per-100MW economics can move share price fast Let us know in the comment section below if you're currently holding shares in either CleanSpark or Hut 8 and your top pick currently in the sector!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We map the market’s shift from pure Bitcoin mining toward AI data centers and high performance computing, and we explain why many “crypto” stocks are rising even as Bitcoin drifts lower. We also break down fresh analyst price targets and use megawatt-based valuation logic to translate new HPC announcements into potential equity upside. • Bitcoin’s pullback, ETF flows, and why long-term conviction still matters • Capital rotation into AI infrastructure, memory, and upcoming mega IPOs • The decoupling between Bitcoin and HPC-tilted miners • Interview takeaways on forward strategy versus weak near-term mining earnings • Hive’s upgraded target and a sensitivity table using revenue per megawatt, EBITDA margins, capex, and multiples • Iren’s 800MW Australia transmission agreement and what it signals for APAC AI demand • Analyst upgrades for TeraWulf and Cipher plus Cipher’s plan to end mining • Bitdeer’s Alberta build with behind-the-fence natural gas and future AI flexibility Let us know in the comment section below if you're currently holding shares of Iron and what you thought about today's announcement. Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with Chairman, Frank Holmes and CFO, Darcy Daubaras from Hive Digital Technologies right after fiscal year results and major HPC AI announcements. We dig into how Hive scales from Bitcoin mining to a dual-engine model and what it takes to build sovereign AI infrastructure in Canada while expanding in Paraguay.  • fiscal year execution highlights and hash rate growth to roughly 25 EH/s  • why Paraguay hydro power and mega sites drive efficiency  • lessons from heat, cooling fixes, and firmware upgrades at scale  • how land banking, power access, and community alignment shape site strategy  • BuzzHPC ramp plan from current run rate toward larger GPU clusters  • why contracts and tri-party agreements become the real bottleneck  • GPU economics shifting toward longer useful life and new funding sources  • what the Toronto-Waterloo Corridor means for sovereign AI compute  • inflation pressures in fiber, copper, racks, and supply-chain timelines  Let us know in the comment section below if you're currently holding shares of Hive and what you thought about this most recent round of earnings.  If you guys have any additional questions, comments, leave them in the section below, hit the like button, subscribe.  Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down DMG Blockchain Solutions’ newly signed LOI tied to the Christina Lake facility and why it changes the timeline for turning a Bitcoin mining site into an AI and HPC co-location business. We push on what still must happen next, from definitive agreements and SLAs to funding, construction, and redundancy planning. • what the LOI signals and what remains unresolved until the definitive agreement is signed • why DMG kept negotiations quiet, including management trading blackouts • how existing transformers, fiber and cooling shorten time to deploy AI equipment • capex expectations per megawatt and how DMG frames “market rate” pricing • phased build approach and how Bitcoin mining capacity steps down over time • local labour and contractor availability around Christina Lake’s industrial base • funding strategy focused on debt and the trade-offs of selling Bitcoin • why DMG stays guarded on pipeline disclosures and how Malahat could still fit • land, power expansion, and redundancy options including battery and gas backup • why uptime consistency matters more than cheapest power for AI tenants • planning for rapid GPU cycles and longer-term shifts like 800V DC data centers Let us know in the comment section below what you thought of this announcement and if you're currently holding shares of DMG!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with Sam Tabar to unpack Bit Digital’s quarter, the impact of ETH mark-to-market accounting, and the plan to close the NAV gap through repeatable returns. We also dig into WhiteFiber’s NC1 ramp, what contracted backlog really means, and how the company funds rapid AI compute growth without defaulting to dilution.  • Bit Digital Q1 revenue drivers and why the net loss is non-cash ETH mark-to-market • ETH staking economics and the role of liquid staking for treasury flexibility • WhiteFiber NC1 construction status, phased commissioning, and timing to full revenue contribution • Remaining performance obligations as contracted future revenue and why it is not the ceiling • Contract margin clarity, delivery execution, and avoiding penalty scenarios • Montreal 3 retrofit, lease-to-own speed, and the strategic case for buying the asset • GPU cloud fleet sold out under term contracts and what triggers the next capacity build • Customer prepayments and equipment financing as a more capital-efficient growth model • $100M delayed draw term loan facility and how both Bit Digital and White Fiber benefit • Paris contract and the disciplined approach to European expansion driven by customer demand • Majority ownership strategy, potential float increase over time, and the AI plus Ethereum convergence Let us know in the comment section below if you're holding either one of these companies and what you think about their strategy moving forward!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track how AI infrastructure demand is pushing “miner” stocks higher even as Bitcoin pulls back, and we pressure-test whether this decoupling is real or just momentum. We dig into NVIDIA GTC ripple effects, DMG’s surprise 50MW AI LOI, Bitdeer’s production ramp, and IRIN’s record GPU financing to understand what actually drives long-term valuation. • Bitcoin price weakness versus rising HPC and AI infrastructure plays • Michael Saylor selling 32 Bitcoin as a market signal test • NVIDIA GTC shout outs and why preferred partner status matters • Neo clouds, capacity constraints, and why AI labs need more compute • Sector heat map performance and what re-rating catalysts look like • DMG Blockchain LOI for 50MW at Christina Lake and why power sites matter • Data center build cost per megawatt and labour inflation pressures • Valuation scenarios for co-location revenue per megawatt and EBITDA margins • Bitdeer weekly Bitcoin production, treasury approach, and SEAL miner expansion • IREN network architecture validation using a digital twin • IREN $3.65B GPU financing details and what cheap capital unlocks Let us know in the comment section below what you thought of today's headlines and last night's big speech!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We break down how AI infrastructure demand is reshaping valuations across Bitcoin miners, using Dell’s blowout quarter as a real-time signal that the data center build-out is accelerating. We then compare signed HPC deals across the sector and run a sensitivity model on what Keel could be worth if it lands multiple contracts while capex and labour costs rise. • Bitcoin’s short-term volatility and why miners still care even with HPC narratives • Dell’s earnings as a read-through for AI server demand, cash flow strength, and backlog • Why racks, networking, cabling, and deployment speed are the “glue” between GPUs and data centers • Sector heat map, options expiration noise, and the case for taking profits after big runs • BitFuFu’s earnings mix, cloud mining scale, and the slow path toward any HPC pivot • HUT 8 price target upgrades, Beacon Hill economics, and how re-rates happen before sites are finished • Deal-by-deal comparison of contracted compute megawatts versus market caps across key names • Keel’s three-site setup and a sensitivity analysis for revenues, EBITDA margin, capex per megawatt, and multiples • Labour and electrical labour inflation as a near-term bottleneck that can change project economics Let us know in the comment section below how the portfolio is looking, your top pick in the sector currently, and if you've been taking any profits over the course of the week!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with BitFuFu VP of Investor Relations Charley Brady right after Q1 earnings to separate the real operating story from the accounting noise. We dig into why cloud mining is becoming the core revenue engine, how hash rate allocation decisions get made, and what investors should watch as costs rebalance through 2026. • Q1 revenue performance and why cloud mining drives the mix • How BitFuFu shifts hash rate between cloud mining and self-mining for return • Fair value Bitcoin accounting, mark-to-market impacts, and what to watch in the EBITDA bridge • Customer retention, churn, and why institutional demand behaves differently than retail • Where growth is coming from, including Africa and Asia, plus why the US market is not active yet • Ethiopia facility disruption, fleet monitoring, and efficiency gains from upgrading miners • ASIC pricing dynamics for S19s and S21s, used machine supply, and the next 18 months of hardware cycles • Data centre footprint, leased capacity, and the cautious approach to HPC AI and GPU infrastructure Let us know in the comment section below if you're currently holding shares of BitFuFu and what you thought about this round of earnings!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We step back from day to day Bitcoin noise and focus on why AI infrastructure and HPC data center deals are driving real rerates across former miners. We break down fresh price targets, what the market is already pricing in, and how a single large contract can reshape valuation math for names like Riot, Bit Digital, DMG and Iren. • Bitcoin weakness alongside relative strength in AI infrastructure stocks • Why funding and revenue momentum from companies like Anthropic matter to data center builders • How contract announcements change multiples and investor expectations • Reading recent rallies, profit taking and 52 week positioning across the sector • DMG’s HPC site progress and management’s deal timeline comments • Bit Digital and WhiteFiber facility details plus the “triple compounding” ETH strategy • Riot Platforms Corsicana sensitivity analysis using revenue per megawatt, margins, CapEx and multiples • How much Corsicana upside may already be priced into Riot shares • Iren’s upgraded price target and the question of what the unpriced pipeline could mean Take a second, smash a like button, guys. If you're not already subscribed, McNallie Money, feel free to join. Pop over to the website poweranalysis.io. You can also sign up for the newsletter, comes out every Friday free, and let us know your thoughts in the comment section below!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with DMG Blockchain Solutions CEO Sheldon Bennett and COO Stephen Eliscu right after Q2 earnings to unpack how they keep mining costs competitive while Bitcoin prices stay uncomfortable. We also dig into their 2026 push to convert Christina Lake into an AI and HPC data center platform, plus what the Malahat partnership could unlock for sovereign AI in Canada. • Q2 operational takeaways in a tough mining market • Lower cost to mine Bitcoin driven by power pricing and efficiency • Fleet strategy including tweaks to legacy miners and steady J/TH guidance • Malahat partnership status, site options, and why Indigenous land rules differ • Hybrid compute approach including AI plus storage and disaster recovery • Why low-cost Canadian power could attract neo-clouds and hyperscalers • Christina Lake buildout math from substation expansion to synthetic firm power • On-site gas generation as redundancy for AI uptime requirements • First-build options from existing buildings to modular and purpose-built designs • Boardman Oregon due diligence issues and why the US footprint matters • Thoughts on a TSX uplist and a future Nasdaq path • Sovereign AI demand drivers in Canada and what governments may require • Hiring plans for electrical, fiber, and data center development talent Let us know in the comments section below if you're currently holding shares of DMG and what you thought about this most recent round of earnings!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We watch Bitcoin stall while AI infrastructure names rally, and we explain why many “miners” are now getting valued like HPC data center businesses. We also break down the biggest headlines from Iron and DMG, then connect the dots on what bottlenecks and speed to power mean for returns. • miners decoupling from Bitcoin as HPC AI infrastructure narratives take over • Micron as a reminder that supply-demand bottlenecks can drive extreme re-ratings • leaderboard recap and why we keep taking profits while staying in the thesis • upcoming earnings and interviews plus what we want to learn from management teams • DMG Q2 results breakdown plus Christina Lake and Malahat power upgrade strategy • Soluna AMAs and how retail communication can become a real advantage • Iren’s Dell Blackwell agreement and the execution bar for CSP-style deployments • why HPC is a long-duration build with different costs and margins than mining Let us know in the comment section below if you're currently making any trades and your top pick in the space at the moment!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We watch AI infrastructure and ex-Bitcoin miner stocks rip higher while Bitcoin itself plays a smaller role in the price action. We connect the dots between megawatts, index inclusion, and real execution updates from Core Scientific and TeraWulf. • Bitcoin mining sensitivity fading as power shifts toward HPC and AI hosting • Old watchlist prices versus today’s re-rate across major public names • Heat map read of sector breadth and why Soluna stands out • Russell 3000 inclusion as a catalyst for persistent index buying • Core Scientific board appointment and what it signals for data center execution • TeraWulf’s Kentucky gigawatt development plan and the long lead time reality • Lake Mariner progress and the Schneider Electric infrastructure announcement • Trade discipline and taking profits during fast sector rallies Take a second, smash a like button, guys. If you're not already subscribed, McNally Money, feel free to join. And let us know in the comment section below how you're feeling about the sector in general and your top pick in the space. If you guys want any behind the scenes looks at our trades, at our portfolios, make sure you sign up for the members only power play!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track the market setup for bitcoin and crypto equities, then zoom in on the financial engineering and treasury tactics that can quietly boost value per share. We also map the latest HPC AI data center deals and explain why power, permits and signed contracts are driving the next re-rating across miners. • bitcoin price recovery and what we watch in macro headlines • Strategy repurchasing 0% convertible notes at a discount and why that reduces dilution • SATA moving to a daily dividend and how that may smooth buying activity • market heat map takeaways and why Canadian trading can hint at the US open • bitcoin HODL versus market cap ratios and why that metric is changing • WhiteFiber five-year $160M Paris GPU deal and how to think about $ per megawatt • analyst hint of a potential 100MW site and what questions to ask next • Keel’s confidence in landing multiple leases and the practical constraints of buildouts • Soluna’s large-site roadmap, financing mechanics and why phased delivery matters • Hive’s sovereign data angle and the global spread of AI infrastructure demand • Riot’s Corsicana approach and the upside math if a large tenant lands quickly Take a second, smash a like button, guys. If you're not already subscribed, McNallie Money, feel free to join!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with Ayden Kilic, CEO of Hive Digital Technologies, to break down the 320 megawatt gigafactory announcement and why it could reshape Hive’s path in AI infrastructure. We dig into the revenue math, the financing approach, and why long term contracts matter as much as the GPUs themselves. • what a 320MW “gigafactory” means in practical GPU terms • why this is positioned as a major Canadian HPC and sovereign AI build • how a conservative colocation case maps to ARR and total contract value • the capex reality of building tier three data centers and filling them with GPUs • the near term plan to scale GPU cloud ARR and what needs to line up • why the market rewards 3-year and 5-year contracts over residual value stories • CSP versus colocation optionality when you own and operate the facilities • how a zero coupon convertible and capped call can reduce dilution Let us know in the comment section below if you're currently holding shares of Hive and what you thought about these recent announcements!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

AI infrastructure looks less like a hype cycle when GPU rental rates rise, enterprise AI demand turns into profits, and long term data center contracts stack up across the sector. We connect NVIDIA earnings, neo cloud pricing moves, and the miner to HPC pivot to answer one question honestly: where are the real bubble signals, if any? • HPC AI sector update and why we’re not seeing classic bubble signs • Bitcoin correlation fading as miners reposition toward AI infrastructure • Heat map read on who has contracts and who is still waiting • Keel napkin math on megawatts, compute, NOI and potential rerate • Nebius rate increase and what higher GPU pricing implies for new deals • The lock-in versus wait dilemma for CSP and colocation contracts • Anthropic revenue growth, profitability expectations and enterprise adoption • Power as the bottleneck and why existing energy access matters • SpaceX capacity payments and what they signal about scarcity pricing • Applied Digital contracted capacity milestones and long dated take or pay leases • NVIDIA data center growth, margins, guidance, buybacks and dividends as demand proof Let us know in the comments section below how you’re feeling about the AI space as a whole and your top pick currently!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track Bitcoin’s sideways action, then follow the real story: miners and AI infrastructure names getting repriced as power, sites, and contracts start to matter more than day-to-day volatility. We break down deal math by megawatt, compare renting versus owning power, and ask what risks hide inside long GPU contracts. • Bitcoin range action and why we focus on the longer view • Corporate and ETF buying as steady demand for supply • Hive momentum and why execution drives rerates • Riot valuation framework using megawatts, NOI and multiples • Nebius and Bloom Energy deal structure and $ per MW takeaway • Soluna vertical integration at Dorothy plus balance sheet cleanup • CleanSpark hiring to build capital markets and M&A capacity • Hut 8 community investment as a permitting and trust strategy • Terawulf build progress and the open question of GPU refresh costs Let us know in the comment section below if you're holding any of these stocks and your top pick in the space currently!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track how Bitcoin miners are evolving into AI and HPC infrastructure companies as conferences, GPU markets, and corporate announcements all point to the same demand wave. We connect the dots across Strategy’s Bitcoin accumulation, shifting miner economics, and a growing pipeline of multi year data center contracts. • takeaways from the AIM Summit in London and why AI dominates the room • why miners keep exploring HPC for predictable long term revenue • Strategy’s latest Bitcoin buying pace and the path toward one million BTC • the claim that Bitcoin ownership in the US now outpaces gold • GPU spot pricing jump and why older GPUs can price above newer ones • how longer GPU lifespans change payback periods and data center economics • mining stock performance, correlation to Bitcoin, and Core Scientific buildout updates • ABTC’s Bitcoin treasury growth, fleet efficiency, and “mine cheaper than buy” approach • the reality of cheap ASIC pricing versus rising public company overhead • Hive and BuzzHPC’s 320MW sovereign AI infrastructure plan near Toronto • MARA’s Long Ridge Energy financing milestone and what it adds to the platform • Soluna’s timeline signals and why 2027 is becoming the target year • IREN’s acquisition of Awaken and the importance of brand as the AI push scales Let us know in the comments section below what did you think on today's headlines? Also, let us know if you want to see an IREN podcast!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We talk with Saluna Holdings CEO John Belizaire and new CFO Michael Picchi right after Q1 earnings about how the company plans to scale from Bitcoin hosting into AI and HPC data centers through 2026 and beyond. We break down what vertical integration really means when you own the wind farm, the grid connection, and the site roadmap to get from design to an energized AI campus. • Q1 highlights including revenue growth, megawatts under management, and the shift toward hosting revenue • Why Bitcoin hosting demand persists and how it funds AI pre-development work • Briscoe Wind Farm acquisition and what vertical integration adds beyond a low power rate • How Soluna “stacks” revenue across hosting, demand response, and power sales during curtailment • KATI 2 phase-one plan including schematic design, detailed design, customer proposals, and lease negotiations • Future-proofing AI data centers for heavier GPUs and changing chip generations • Capital formation realities for billion-dollar builds including debt vs equity expectations • Key bottlenecks ahead including MEP supply constraints, labor availability, and worker housing • Community engagement playbook and addressing water concerns with closed-loop cooling design • Dorothy 3 sequencing and applying KATI 2 learnings across the pipeline Let us know in the comment section below what you thought of Soluna results and if you're currently holding shares!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Bitcoin chops under $80K while miners sell off, but we stay focused on the bigger trend and the forces quietly tightening supply. We unpack the regulation tailwinds, the earnings details behind Bit Digital’s pivot, and why IREN’s new financing could reshape the HPC buildout race.• Bitcoin’s weekly range and why we keep buying through volatility• Clarity Act progress and why regulatory clarity matters for Bitcoin and Ethereum• Why “crypto crime” talking points ignore on-chain traceability and cash realities• Saylor’s 15,466 BTC week and what that means versus new supply• Miner stock drawdowns and how Friday options flows can amplify moves• Bit Digital’s strategic asset shift toward Ethereum staking and WhiteFiber HPC growth• Revenue run-rate expectations and the coming impact of new co-location capacity• IREN’s $3B convertible notes terms plus cap call dilution protection• What that capital could fund for GPUs, data centers, and a Sweetwater-scale buildout• Why some CEOs give firm deal timelines while others stay noncommittalLet us know in the comment section below how you're feeling going into next week and your top pick currently in the portfolio!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

Bitcoin rebounds above $80,000 as institutional access expands and Washington edges toward clearer crypto rules. We break down miner results from BitDeer and WhiteFiber, plus BitFuFu’s production headwinds, to see how the Bitcoin mining sector is turning into an AI HPC and data center story. • Bitcoin’s move back into the $80K range, key catalysts behind the rally • Charles Schwab rolling out spot crypto access, what large AUM platforms change for adoption • Clarity Act progress, why regulation can unlock broader participation • Strategy’s rapid Bitcoin accumulation, what it implies about supply versus demand • Strive’s competing yield product, the push toward daily dividend structures • Heat map check-in across miners, reflections on recent management interviews • BitFuFu April operational report, outage impacts and contract decisions, continued HODL growth • Bitdeer Q1 earnings, revenue surge, expanding AI cloud ARR, power portfolio optionality, SEAL miner efficiency gains • WhiteFiber Q1 earnings, co-location growth, NC1 timeline, Hyperbolic agreement, supply chain constraints for data centers • Why HPC revenue depends on delivery, margin expectations versus reality, questions we keep pressing in interviews Let us know in the comments section below if you're currently holding shares of either Bitdeer or WhiteFiber and what you thought of their results. Sign up for the weekly newsletter at poweranalysis.ioAnthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sit down with Ben Gagnon, CEO of Keel Infrastructure, to unpack Q1 execution, the rebrand, and what it takes to turn power-rich sites into real HPC and AI data center leases. We break down the specific milestones we’re watching, why location and inference could reshape demand, and how financing and SLAs determine who actually gets projects built. • Keel’s execution track record across rebrand, restructuring, and major M&A integration • Why the infrastructure gap between Bitcoin mining and HPC AI data centers is bigger than most investors assume • The key metrics we track through the year: permits, lease execution, and secured megawatts • Why location becomes a moat again as inference demand grows • What could derail three leases by year end and how zoning, development, and environmental permits differ • How materiality and disclosure rules work once a binding agreement is signed • Why Pennsylvania is attracting large-scale AI data center announcements and what that signals for the market • Community engagement as a competitive advantage amid project cancellations and delays • How pricing could shift toward paying more for faster delivery and higher certainty • Enterprise AI demand and why “token value” differs for hyperscalers vs enterprises • SLAs, grace periods, and what drives margins down in real-world contracts • Financing confidence, credit market appetite, and why Keel says it doesn’t need to issue equity now Let us know in the comments section below what you thought of the earnings call from Kiel and if you're currently holding shares!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We step through the latest earnings from major Bitcoin miners and AI infrastructure names, then use the actual financial statements to explain why so many teams are pivoting toward high performance computing. We connect contracts, megawatts, margins, stock based pay, and balance sheet strength to the share price rerates the market is handing out. • Bitcoin price volatility and the sector’s mixed daily tape • Why many earnings calls gloss over the “earnings” lines • How to read the income statement for miners and HPC builders • What adjusted EBITDA excludes and why it can mislead • ABTC’s Bitcoin accumulation strategy and Satoshis per share focus • CleanSpark’s development pipeline and late stage AI pivot • Total revenue comparisons and why low revenue can still re-rate • Cipher’s contracted revenue inflection and the appeal of predictability • Core Scientific’s CoreWeave deal and gigawatt expansion optionality • Net losses driven by depreciation and fair value Bitcoin write downs • Hut 8’s long duration contract economics and pipeline upside • IREN’s contracted ARR curve and vertical build approach • Keel’s execution roadmap and market anticipation before deals • MARA’s “digital infrastructure triad” and power asset strategy • Stock based compensation as a percentage of revenue and alignment • Riot’s Corsicana campus design and co-location potential • TeraWulf’s repeatable finance-and-build playbook • Retained earnings as the blunt proof of mining’s difficulty • Balance sheet checks: current ratio, net assets, leverage • Nebius Q1 surge, capex pace, margin improvement, and new PJM land Let us know in the comments section below how you're feeling about the sector in general and your top pick in the space if you're listening on any of the audio podcast platforms, make sure you guys give us a follow and a five-star rating!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We sort through a brutal red day and explain how to survive Bitcoin miner volatility by zooming out, doing the work, and setting sell targets you can actually follow. Then we break down the latest updates from Bitdeer, Mara, CleanSpark, and IREN, showing how AI HPC deals and power capacity are starting to drive valuations more than pure mining growth. • How we think about daily volatility in Bitcoin and miner equities • Why disciplined price targets beat reactive trading • Strategy’s rapid Bitcoin accumulation and what it signals • The market re-rate effect when miners sign AI data center deals • BitDeer’s April update: hash rate growth, fleet efficiency and a $69M AI ARR run rate • Mara earnings highlights: power assets, Starwood JV structure, mining as load balancing, HODL changes • CleanSpark earnings highlights: Texas power expansion, balance sheet notes and “lead prospective tenant” language • IREN’s upsized convertible note, capped call protection and why the NVIDIA partnership matters • Why we built poweranalysis.io to track public AI deals and metrics • Riot CEO planned share sale and how we interpret insider selling Let us know in the comment section below what you thought of earnings from Mara and CleanSpark and if you're currently holding shares of any of the companies discussed!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track the fast-moving shift from Bitcoin mining to AI infrastructure, where power capacity and signed leases drive the biggest valuation changes. We break down Keel’s earnings narrative, Iron’s financing move, and the key signals we watch to separate real deal momentum from noisy price action. • Bitcoin’s recent price action, volatility, and why fundamentals still matter • Strategy’s latest Bitcoin purchases, Stretch mechanics, and dividend obligations • The Clarity Act odds, why regulation can unlock sidelined capital, and what that could mean for sentiment • Miner stock re-rates as the market prices AI and HPC revenue at higher multiples • WhiteFiber’s big move, Bit Digital’s dual exposure, and the discount-to-NAV debate • BitZero’s Norway lease headline and why a Nasdaq uplist can change liquidity and attention • DMG’s April production update and how 65MW can still be meaningful in AI deal math • DigiPower’s Cerebrus-linked contract economics and what improved $ per MW implies for peers • Keel Infrastructure’s rebrand, permitting progress, $533m war chest, and the “three leases by year end” target • IREN’s $2bn convertible, buildout funding logic, and why power scale can keep them out front Let us know in the comment section below what you thought of KEEL earnings and this move by IREN. Make sure you go over to poweranalysis.io and sign up for the newsletter!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]

We track how Bitcoin holding above $80K sets the baseline, then zoom out to the real story: public miners racing to turn power into contracted AI and HPC data center revenue. We break down the biggest earnings-week moves from TerraWulf and Iron, plus Hive’s infrastructure upgrades, to show why the market is re-rating “power and GPUs” faster than “hashrate and hodl.”• Bitcoin range context and why it still anchors miner cash flows• Earnings-week volatility, profit taking, and how to think about position sizing• Heat map momentum across the AI infrastructure basket, including BitZero and Soluna• Hive TSX uplisting impact on liquidity and investor access• Hive ATM usage, timing discipline, and what it signals about growth strategy• Fiber buildout and why latency matters for Tier 3 AI data centers• Why quarterly miner numbers can look weak, including balance sheet and fair value effects• TeraWulf Q1 delivery, guidance reaffirmation, and the mix shift toward HPC lease revenue• TeraWulf funding capacity, site pipeline expansion, and expectations for the next contract• IREN’s rapid sequence of updates: Sweetwater energization, Mirantis, NVIDIA alignment, GPU deployment• NVIDIA option structure and what strategic alignment can mean for valuation• IREN’s Spain expansion and the strategic value of a global power pipeline• Wall Street price targets, why some lag the tape, and how HPC multiples differ from mining• Updated HPC deal tracker on our website and why apples-to-apples comparisons mattertake a second, smash a like button, guys. If you want to see our personal trades, check out the PowerPlay!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - [email protected]