Daily Bitcoin Miner News

May 22, 2026

May 2026 Bitcoin mining and AI infrastructure news roundup: The crypto-to-AI power shift accelerated further as power-rich operators locked in massive hyperscaler contracts, completed strategic acquisitions, and raised fresh capital to scale GPU infrastructure. While some companies maintained core mining operations and treasury building, the clearest momentum and valuation upside belonged to those executing rapid AI/HPC pivots.

Article Link: https://news.bitcoin.com/applied-digital-tops-1-gw-as-ai-factory-campus-locks-7-5b-hyperscaler-lease/

Article Summary: "Applied Digital Tops 1 GW as AI Factory Campus Locks $7.5B Hyperscaler Lease"

Published: May 2026

Source: Bitcoin.com News

Main Topic

Applied Digital Corporation (NASDAQ: APLD) has surpassed 1 GW of total power capacity and secured a major $7.5 billion hyperscaler lease for its AI Factory campus. This marks a significant milestone in the company’s rapid pivot from Bitcoin mining hosting to large-scale AI and high-performance computing (HPC) infrastructure.

Key Details

  • Capacity Milestone: Total secured power capacity now exceeds 1 GW across its portfolio.
  • Lease: $7.5 billion long-term hyperscaler contract for the AI Factory campus (specific tenant not named in coverage; likely a major cloud/AI provider).
  • Campus Focus: High-density, liquid-cooled AI/HPC facilities optimized for GPU clusters and large-scale training/inference workloads.
  • Strategic Context: Applied Digital is leveraging its existing power assets and data center expertise to capture high-margin AI colocation revenue, reducing reliance on traditional Bitcoin mining hosting.

Key Takeaways / Implications

Reaching 1 GW and securing a $7.5B hyperscaler lease positions Applied Digital as a major player in the AI infrastructure race. The deal provides long-term revenue visibility and validates its power-first strategy. This continues the strong momentum among pivoting miners, where power ownership and rapid execution are key differentiators amid surging AI demand.

Size of Operation

  • Total Capacity: >1 GW secured power.
  • Lease Value: $7.5 billion (long-term hyperscaler agreement for AI Factory campus).
  • Type: High-density AI/HPC data centers with liquid cooling; hybrid model transitioning from Bitcoin mining hosting.

Companies Mentioned

Article Link: https://simplywall.st/stocks/us/software/nasdaq-cifr/cipher-digital/news/cipher-digitals-ai-leases-shift-focus-toward-contracted-infr

Article Summary: "Cipher Digital’s AI Leases Shift Focus Toward Contracted Infrastructure Revenue"

Published: May 2026

Source: Simply Wall St (valuation and news analysis)

Main Topic

Cipher Mining Inc. (NASDAQ: CIFR) is increasingly shifting its business focus toward contracted AI/HPC infrastructure revenue through hyperscale leases and colocation agreements. The article analyzes how these long-term contracts are improving revenue visibility and supporting a re-rating of the company as it pivots from volatile Bitcoin mining to more stable, high-margin data center operations.

Key Details

  • AI Leases: Multiple hyperscale HPC leases contributing growing contracted revenue.
  • Power Pipeline: ~1.2 GW+ secured (Texas base + Ohio Ulysses 200 MW site).
  • Valuation Context: Shift toward contracted AI revenue is viewed positively by analysts, potentially justifying higher multiples as mining becomes secondary.
  • Strategic Progress: Active conversion of mining sites to high-density AI/HPC facilities with liquid cooling and hyperscaler tenants.

Key Takeaways / Implications

Cipher’s AI lease momentum is a key driver for re-rating, as contracted infrastructure revenue offers greater predictability than traditional mining. With a strong power portfolio, the company is well-positioned in the AI boom, though execution on retrofits and tenant delivery remains critical. This aligns with the broader 2026 trend of miners being revalued as AI infrastructure plays.

Size of Operation

  • Power Pipeline: ~1.2 GW+ secured.
  • Type: Bitcoin mining with active transition to hyperscale AI/HPC colocation and hosting.

Companies Mentioned

Article Link: https://www.valuethemarkets.com/cryptocurrency/news/sphere-3d-and-cathedra-bitcoin-merger-progresses-toward-completion

Article Summary: "Sphere 3D and Cathedra Bitcoin Merger Progresses Toward Completion"

Published: May 2026

Source: ValueTheMarkets

Main Topic

Sphere 3D Corp. and Cathedra Bitcoin are making steady progress toward completing their previously announced all-stock business combination. The merger aims to create a stronger, diversified entity focused on Bitcoin mining, high-performance computing (HPC), and AI infrastructure.

Key Details

  • Merger Status: Both companies are advancing regulatory, shareholder, and operational steps required for closing.
  • Strategic Rationale: Combines Sphere 3D’s technology and infrastructure expertise with Cathedra’s Bitcoin mining assets and power agreements to build a more resilient platform capable of supporting both mining and AI/HPC workloads.
  • Expected Benefits: Enhanced scale, diversified revenue streams, improved access to capital, and better positioning in the evolving crypto-to-AI transition.
  • Timeline: The parties continue working toward a targeted closing date in the coming months, subject to approvals.

Key Takeaways / Implications

The ongoing merger reflects continued consolidation in the Bitcoin mining sector as smaller players combine resources to compete more effectively and accelerate diversification into AI/HPC. If completed, the combined entity could benefit from synergies in power management and infrastructure, helping it navigate margin pressures in mining while capturing growth in AI data centers. Investors will monitor closing conditions and post-merger integration plans.

Size of Operation

  • No new specific MW or hashrate figures disclosed in the update (focus is on merger progress rather than current operational metrics).
  • Type: All-stock merger between a technology/infrastructure company and a Bitcoin mining operator, targeting hybrid mining and AI/HPC capabilities.

Companies Mentioned

  • Sphere 3D Corp. (party to the merger with Cathedra Bitcoin)
    • Official Website: https://sphere3d.com/
    • Investor Relations: Available via filings.
    • LinkedIn Company Page: Limited public profile identified.
    • Key Notes: Technology and digital infrastructure company; advancing merger with Cathedra Bitcoin to create a stronger mining and AI/HPC platform.
  • Cathedra Bitcoin (party to the merger with Sphere 3D)
    • Key Notes: Bitcoin mining company; combining with Sphere 3D to enhance scale and diversification into AI/HPC.

Article Link: https://phemex.com/news/article/american-bitcoin-expands-mining-fleet-amid-asic-market-shift-84275

Article Summary: "American Bitcoin Expands Mining Fleet Amid ASIC Market Shift"

Published: May 2026

Source: Phemex News

Main Topic

American Bitcoin (ABTC) has expanded its mining fleet with new ASIC deployments, taking advantage of evolving ASIC market dynamics, including supply availability and pricing shifts. The company continues to scale its Bitcoin mining operations while maintaining its pure-play focus amid broader industry pivots toward AI/HPC.

Key Details

  • Fleet Expansion: Addition of new high-efficiency ASIC miners (likely modern S21 series or comparable models) to boost overall hashrate and production capacity.
  • Market Context: Benefiting from improved ASIC availability, potential tariff effects on Chinese hardware imports, and opportunities for cost-effective upgrades.
  • Strategic Position: U.S.-based mining with high-profile backing (Trump family links); emphasis on operational scaling and efficiency in a high-difficulty environment.
  • Operational Focus: Prioritizing fleet modernization to improve margins and competitiveness.

Key Takeaways / Implications

American Bitcoin’s fleet expansion shows continued commitment to core Bitcoin mining growth despite many peers accelerating AI/HPC transitions. Timely hardware upgrades are critical for maintaining profitability in the current market. The move highlights the importance of ASIC supply chain dynamics and positions ABTC to capture upside from any Bitcoin price recovery while larger miners diversify revenue streams.

Size of Operation

  • Hashrate: Increased through new ASIC deployments (exact total or percentage addition not specified in the article).
  • Type: Bitcoin mining fleet expansion with modern, high-efficiency ASICs.
  • No specific MW or power capacity details provided.

Companies Mentioned

  • American Bitcoin (ABTC) (expanding mining fleet amid ASIC market shifts)
    • Key Notes: Trump-backed public Bitcoin mining company; actively scaling operations with new ASIC deployments; focused on U.S.-based mining efficiency.

Article Link: https://www.datacenterdynamics.com/en/news/cryptominer-phoenix-group-turns-to-hpc-plans-18mw-facility-in-france/

Article Summary: "Cryptominer Phoenix Group Turns to HPC, Plans 18MW Facility in France"

Published: May 2026

Source: Data Center Dynamics (DCD)

Main Topic

Phoenix Group, a UAE-based cryptocurrency and blockchain infrastructure company, is pivoting toward AI and high-performance computing (HPC) data centers. The company announced a partnership with DC Max to develop its first European AI data center — an 18 MW facility in Lyon, France.

Key Details

  • Project: 18 MW AI/HPC data center in Dardilly (Lyon area).
  • Partnership: Collaboration with DC Max (affiliate of Freo Group), which brings data center development expertise and a pipeline of sites across Europe.
  • Timeline: Construction to begin in July 2026; delivery targeted between Q4 2027 and Q1 2028. Phoenix has secured land, permits, grid connection, and power for the site.
  • Ambition: Targeting 1 GW of combined AI and HPC capacity across Europe and the GCC region.
  • Phoenix Background: Founded in 2017; claims a global portfolio of 550 MW across UAE, Oman, Ethiopia, Canada, and the US. Listed on Abu Dhabi exchange.
  • Quote (Munaf Ali, Co-founder & GCEO, Phoenix Group): “This is a genuine inflection point... establishing a presence at the heart of European AI infrastructure.”

Key Takeaways / Implications

Phoenix Group’s move into Europe with an 18 MW AI facility marks a significant international expansion and pivot from pure crypto mining toward higher-margin AI/HPC workloads. The partnership with DC Max accelerates deployment in a competitive European market. This aligns with the global trend of crypto miners repurposing power assets for AI infrastructure amid surging hyperscaler demand. The 1 GW ambition signals substantial growth plans in the GCC and Europe.

Size of Operation

  • Lyon Facility: 18 MW AI data center (construction starting July 2026).
  • Global Portfolio: 550 MW across six markets.
  • Ambition: 1 GW of combined AI/HPC capacity in Europe and GCC.
  • Type: Hybrid pivot from cryptocurrency mining to AI/HPC data centers.

Companies Mentioned

  • Phoenix Group (UAE-based crypto miner pivoting to AI/HPC)
    • Key Notes: Abu Dhabi-listed digital asset infrastructure company; 550 MW global portfolio; partnering with DC Max for 18 MW AI facility in Lyon, France; targeting 1 GW AI/HPC capacity.
  • DC Max (partner for the Lyon AI data center)
    • Key Notes: Data center developer and operator (affiliate of Freo Group); pipeline of 2 GW across Europe; collaborating with Phoenix on the 18 MW Lyon project.
  • Freo Group (parent/affiliate of DC Max)
    • Key Notes: European real estate investment firm with extensive development experience.

Article Link: https://www.coindesk.com/markets/2026/05/21/live-markets-bitcoin-s-flat-action-continues-as-spacex-ipo-nvidia-earnings-capture-news-cycle

Article Summary: "Live Markets: Bitcoin’s Flat Action Continues as SpaceX IPO, Nvidia Earnings Capture News Cycle"

Published: May 21, 2026

Source: CoinDesk (Markets section)

Main Topic

Bitcoin price action remained relatively flat in a narrow trading range as market focus shifted to major external events, including speculation around a potential SpaceX IPO and upcoming Nvidia earnings. The article discusses subdued crypto momentum, miner performance, and broader risk sentiment influenced by these high-profile developments.

Key Details

  • Bitcoin Performance: Trading sideways with limited volatility, showing resilience but lacking strong directional catalysts.
  • Key External Drivers:
    • SpaceX IPO Speculation: Elon Musk’s company potentially going public, which could boost overall crypto and tech sentiment due to Musk’s influence on Bitcoin and Dogecoin narratives.
    • Nvidia Earnings: Highly anticipated results expected to impact AI sector momentum, indirectly affecting crypto through risk appetite and tech sector correlation.
  • Miner Context: Bitcoin miners continue navigating thin margins and the ongoing pivot to AI/HPC, with power assets remaining a key differentiator.
  • Market Sentiment: Cautious but stable, with traders awaiting clearer macro or corporate catalysts.

Key Takeaways / Implications

Bitcoin’s flat performance reflects a consolidation phase where external tech and corporate events (SpaceX, Nvidia) are dominating attention. This environment benefits miners with strong balance sheets and AI diversification strategies, as pure mining exposure faces ongoing pressure. The article underscores how Bitcoin and the broader crypto market remain sensitive to tech sector developments and high-profile corporate actions.

Size of Operation

  • No specific MW, hashrate, or company-level mining metrics (broad market overview).
  • Type: Daily market analysis with focus on Bitcoin price action and external news drivers.

Companies Mentioned

Article Link: https://cryptopotato.com/tether-acquires-softbank-stake-in-bitcoin-focused-treasury-company-xxi/

Article Summary: "Tether Acquires SoftBank Stake in Bitcoin-Focused Treasury Company XXI"

Published: May 2026

Source: CryptoPotato

Main Topic

Tether has acquired SoftBank’s stake in Twenty One (XXI), a public company focused on Bitcoin treasury management. This strategic move expands Tether’s influence in the Bitcoin corporate adoption space and deepens its involvement in Bitcoin treasury and infrastructure plays beyond stablecoin issuance.

Key Details

  • Acquisition: Tether purchased SoftBank’s ownership position in Twenty One.
  • Twenty One Context: A Nasdaq-listed company with a significant Bitcoin treasury strategy, similar to MicroStrategy’s approach.
  • Strategic Rationale: Tether continues deploying its substantial reserves into Bitcoin-related assets and companies, building a broader ecosystem around USDT and Bitcoin infrastructure.
  • Implications: The transaction increases Tether’s direct exposure to corporate Bitcoin accumulation and could facilitate further synergies with mining, payments, or data center initiatives.

Size of Operation

  • No specific BTC holdings or MW figures disclosed in the article (focus is on the equity stake acquisition).
  • Type: Strategic investment in a Bitcoin treasury-focused public company.

Companies Mentioned

Article Link: https://www.msn.com/en-us/money/topstocks/bmnr-iren-wulf-and-other-crypto-mining-stocks-gain-pre-market-while-bitcoin-holds-above-71k/ar-AA1Zngei

Article Summary: "BMNR, IREN, WULF and Other Crypto Mining Stocks Gain Pre-Market While Bitcoin Holds Above $71k"

Published: May 2026

Source: MSN (Top Stocks section)

Main Topic

Several crypto mining stocks, including BitMine (BMNR), IREN, and TeraWulf (WULF), posted pre-market gains as Bitcoin price stabilized above $71,000. The article attributes the positive sentiment to ongoing AI/HPC pivot momentum, analyst upgrades, and broader market optimism around power-rich miners in the AI infrastructure boom.

Key Details

  • Stock Performance: BMNR, IREN, WULF, and other miners showed pre-market increases.
  • Bitcoin Price: Holding steady above $71,000, providing underlying support for mining-related equities.
  • Drivers: Continued analyst coverage highlighting AI data center potential, power asset advantages, and recent contract wins among pivoting miners.
  • Market Context: Investors are rewarding companies with strong power portfolios and clear AI execution paths amid sustained hyperscaler demand.

Key Takeaways / Implications

The pre-market gains reflect renewed investor interest in crypto miners as AI infrastructure plays. With Bitcoin holding above $71k, the sector benefits from both mining economics and the higher-valuation AI narrative. Stocks like IREN and WULF continue to attract attention due to their power assets and pivot progress, while smaller names like BMNR show speculative momentum. This aligns with the broader 2026 trend of re-rating miners based on AI potential.

Size of Operation

  • No new specific MW or hashrate figures (focus is on pre-market stock movement and sentiment).
  • Type: Pre-market performance of crypto mining stocks amid stable Bitcoin price.

Companies Mentioned

Article Link: https://cryptobriefing.com/spacex-gas-turbines-ai-data-centers/

Article Summary: "SpaceX Deploys Gas Turbines for AI Data Centers"

Published: May 2026

Source: Crypto Briefing

Main Topic

SpaceX is deploying natural gas turbines to power its expanding AI data centers and compute infrastructure. The move addresses the massive and continuous power demands of AI training and inference, bypassing traditional grid limitations by using on-site generation.

Key Details

  • Deployment: Gas turbines installed at SpaceX facilities to provide dedicated, reliable power for AI workloads.
  • Rationale: AI data centers require constant high-density power; grid constraints and interconnection delays make behind-the-meter solutions attractive. Natural gas offers quick deployment and dispatchable generation.
  • Context: Part of broader hyperscaler and tech giant efforts to secure power amid the AI boom (similar to Meta’s space-based solar exploration and other miners/utilities using gas). Elon Musk’s companies (SpaceX, xAI, Tesla) are heavily investing in compute infrastructure.
  • Implications: Reinforces the trend of tech giants turning to on-site generation (gas, nuclear SMRs, etc.) for AI, creating opportunities for energy providers and infrastructure firms.

Key Takeaways / Implications

SpaceX’s use of gas turbines highlights the extreme power needs of AI and the willingness of major players to invest in dedicated generation. This approach reduces grid dependency and supports rapid scaling. For the Bitcoin mining sector, it validates gas-to-power models and opens potential partnership or acquisition opportunities as miners with similar assets pivot to AI/HPC hosting.

Size of Operation

  • No specific MW capacity disclosed in the article (focus is on the strategic deployment of gas turbines for AI data centers).
  • Type: On-site natural gas turbine power generation for AI compute infrastructure.

Companies Mentioned

Article Link: https://cryptobriefing.com/iran-crypto-stockpile-7-billion/

Article Summary: "Iran’s Crypto Stockpile Valued at Over $7 Billion"

Published: May 2026

Source: Crypto Briefing

Main Topic

Iran has built a substantial cryptocurrency stockpile estimated at over $7 billion, primarily through state-backed Bitcoin mining and other crypto activities. The holdings are used to circumvent international sanctions, facilitate trade, and support the national economy amid ongoing geopolitical pressures.

Key Details

  • Stockpile Value: Exceeds $7 billion (largely in Bitcoin and other cryptocurrencies).
  • Sources: State-supported mining operations using surplus hydroelectric power and other energy resources; additional accumulation through trade and sanctions-evasion mechanisms.
  • Usage: Crypto assets help Iran bypass SWIFT restrictions, pay for imports, and maintain liquidity in international transactions.
  • Context: Iran has historically been one of the largest Bitcoin mining nations (at peaks contributing up to ~10% of global hashrate) due to cheap energy and sanctions-driven need for alternative finance channels.

Key Takeaways / Implications

Iran’s $7 billion+ crypto reserves demonstrate the effectiveness of Bitcoin and digital assets as tools for sanctioned nations. The stockpile provides economic resilience and alternative payment rails. For the global mining industry, it underscores how countries with abundant energy can use mining as a strategic asset for sanctions resistance and revenue generation. Recent on-chain movements suggest active management of these holdings.

Size of Operation

  • Crypto Stockpile: >$7 billion (primarily Bitcoin).
  • Historical Mining: Iran previously accounted for up to ~10% of global Bitcoin hashrate using hydropower.
  • Type: State-level cryptocurrency treasury and mining program for sanctions evasion and economic support.

Article Link: https://www.msn.com/en-us/money/companies/bitcoin-miner-canaan-posts-887m-net-loss-in-q1-amid-btc-decline/ar-AA23zRxN

Article Summary: "Bitcoin Miner Canaan Posts $887M Net Loss in Q1 Amid BTC Decline"

Published: May 2026

Source: MSN (syndicating financial news)

Main Topic

Canaan Inc. (NASDAQ: CAN) reported a significant $887 million net loss in Q1 2026, primarily driven by Bitcoin price weakness, lower mining revenue, and inventory/write-down charges. The results reflect the challenging post-halving environment for ASIC manufacturers and self-mining operations.

Key Details

  • Financial Performance: $887 million net loss for the quarter, with revenue and gross profit impacted by declining Bitcoin prices and reduced demand for mining hardware.
  • Operational Context: Canaan’s core business includes ASIC miner manufacturing (Bitmain competitor) and some self-mining activities. The loss includes non-cash items related to inventory valuation and asset impairments.
  • Market Conditions: Bitcoin price volatility and high network difficulty continued to pressure margins for both miners and hardware suppliers.
  • Strategic Updates: The company is focusing on efficiency improvements, next-generation ASIC development, and potential opportunities in AI/HPC-related hardware.

Key Takeaways / Implications

Canaan’s large Q1 loss underscores the difficulties facing the Bitcoin mining hardware sector amid price declines and industry consolidation. While self-mining contributed to the results, the company’s primary revenue from ASIC sales is highly cyclical. This reinforces the broader trend of miners and related firms accelerating diversification into AI/HPC to stabilize earnings. Canaan’s focus on next-gen hardware could position it for recovery if Bitcoin prices rebound or AI-hybrid demand grows.

Size of Operation

  • Q1 Net Loss: $887 million.
  • Type: ASIC manufacturer with self-mining operations; results heavily impacted by Bitcoin price and market conditions.
  • No specific hashrate or MW details in the headline coverage (full earnings would contain operational metrics).

Companies Mentioned

Article Link: https://finance.yahoo.com/markets/stocks/articles/riot-platforms-links-bitcoin-mining-002846062.html

Article Summary: "Riot Platforms Links Bitcoin Mining With AI Data Center Growth"

Published: May 20, 2026

Source: Simply Wall St (via Yahoo Finance)

Main Topic

Riot Platforms (NASDAQ: RIOT) is expanding its role in the AI value chain as AMD confirms a major 10-year AI infrastructure expansion at Riot-operated data centers. AMD plans to double its capacity at Riot facilities, signaling concrete AI-related demand beyond Riot’s core Bitcoin mining business. Bernstein analysts have assigned an Outperform rating, pointing to Riot’s access to power-rich data center hubs as a key advantage for AI workloads.

Key Details

  • AMD Partnership: AMD is doubling AI capacity at Riot facilities with a 10-year expansion option exercised.
  • Stock Performance: Trading at $23.67, up 67.2% year-to-date and 167.8% over the past year, reflecting interest in companies tied to both digital assets and AI infrastructure.
  • Analyst View: Bernstein highlights Riot’s power assets as a strategic moat for AI workloads.
  • Valuation Context: The stock is viewed as blending Bitcoin exposure with contracted AI infrastructure demand.

Key Takeaways / Implications

Riot’s growing AI partnerships with AMD demonstrate the value of its power-rich sites in the AI boom. The dual focus on Bitcoin mining and AI data centers offers investors exposure to both crypto and AI themes in a single stock. As AI capacity ramps, revenue mix is expected to shift toward more stable, high-margin contracts. The stock’s recent momentum and analyst support reflect this strategic evolution.

Size of Operation

  • AI Expansion: AMD doubling capacity at Riot facilities (part of Riot’s broader power pipeline).
  • Type: Hybrid Bitcoin mining + AI/HPC data center operations with major hyperscaler/AMD partnership.

Companies Mentioned

Article Link: https://cryptobriefing.com/hive-digital-ai-gigafactory-toronto/

Article Summary: "HIVE Digital Plans AI Gigafactory in Toronto"

Published: May 2026

Source: Crypto Briefing

Main Topic

HIVE Digital Technologies Ltd. (NASDAQ/TSX: HIVE) is advancing plans for a major AI Gigafactory in Toronto. The project represents a significant step in HIVE’s pivot from Bitcoin mining to high-performance computing (HPC) and AI infrastructure, leveraging the company’s energy expertise and access to power for large-scale GPU deployments.

Key Details

  • Project: Large AI Gigafactory in Toronto focused on GPU clusters for AI training, inference, and cloud services.
  • Strategic Rationale: Toronto provides access to talent, infrastructure, and business-friendly policies. The facility will help HIVE capture higher-margin AI revenue while transitioning away from pure mining.
  • Broader Context: HIVE is one of several miners aggressively expanding AI/HPC capacity amid surging hyperscaler demand and power constraints.
  • Timeline: Planning and development phase; further details on capacity and milestones expected as the project progresses.

Key Takeaways / Implications

HIVE’s Toronto AI Gigafactory plan underscores the accelerating miner-to-AI shift, with companies using their power management experience to build dedicated AI infrastructure in tech hubs. Success could significantly boost HIVE’s valuation as AI revenue scales. This move aligns with the 2026 trend of power-rich operators establishing AI facilities in strategic locations to meet growing demand from hyperscalers and enterprises.

Size of Operation

  • Project Scale: AI Gigafactory in Toronto (exact MW capacity not specified in coverage; part of HIVE’s expanding AI pipeline).
  • Type: Large-scale AI/HPC data center development as part of the crypto-to-AI pivot.

Companies Mentioned

Article Link: https://simplywall.st/stocks/us/software/nasdaq-iren/iren/news/what-iren-irens-nvidia-cloud-deal-and-convertible-notes-rais/amp

Article Summary: "What IREN (IREN)’s NVIDIA Cloud Deal and Convertible Notes Raise Mean for the Stock"

Published: May 2026

Source: Simply Wall St

Main Topic

The article evaluates the positive implications of IREN Limited (NASDAQ: IREN)’s major NVIDIA cloud partnership and $2 billion convertible notes raise. These developments significantly strengthen IREN’s position in the AI infrastructure market and support its rapid pivot from Bitcoin mining to high-margin AI/HPC operations.

Key Details

  • NVIDIA Deal: Strategic cloud services agreement for AI workloads, utilizing IREN’s power assets and data center capacity for GPU deployments.
  • Convertible Notes: $2 billion raise to fund AI/HPC expansion, including GPU clusters, site retrofits, and power infrastructure.
  • Valuation Impact: Analysts view the moves as highly accretive, with potential for substantial re-rating as AI revenue scales and mining becomes secondary.
  • Strategic Context: IREN’s >4.5 GW secured power pipeline provides a strong moat for scaling AI compute amid hyperscaler demand.

Key Takeaways / Implications

The NVIDIA partnership and $2B financing are major catalysts that enhance IREN’s growth trajectory and revenue visibility. This reinforces the company’s leadership among pivoting miners and justifies higher valuation multiples as it transitions to a dedicated AI infrastructure provider. Execution on deployments and additional contract wins will be key to realizing the upside.

Size of Operation

  • Financing: $2 billion convertible notes.
  • Power Pipeline: >4.5 GW secured across North America.
  • Type: AI cloud/HPC expansion with NVIDIA partnership, supported by large convertible notes raise.

Companies Mentioned

Article Link: https://ca.investing.com/news/stock-market-news/soluna-acquires-remaining-stake-in-texas-data-center-for-88m-93CH-4650835

Article Summary: "Soluna Acquires Remaining Stake in Texas Data Center for $8.8M"

Published: May 2026

Source: Investing.com (Canada edition)

Main Topic

Soluna Holdings, Inc. (NASDAQ: SLNH) has acquired the remaining stake in a Texas data center project for $8.8 million, gaining full ownership and control. This move strengthens Soluna’s “compute at the source” strategy and supports its hybrid Bitcoin mining hosting and AI/HPC infrastructure growth.

Key Details

  • Acquisition: Purchased the remaining ownership interest in the Texas data center for $8.8 million.
  • Strategic Impact: Provides Soluna with 100% control over the facility, enabling faster decision-making on operations, upgrades, and potential repurposing for AI workloads.
  • Context: The site is part of Soluna’s broader 4.3 GW compute pipeline and aligns with its focus on integrating power generation with compute infrastructure.
  • Financial Rationale: The deal is described as accretive and supports Soluna’s transition toward higher-margin AI/HPC revenue streams.

Key Takeaways / Implications

Full ownership of the Texas data center gives Soluna greater operational flexibility and revenue potential as it balances Bitcoin mining hosting with AI expansion. This acquisition is consistent with Soluna’s strategy of controlling power and compute assets directly, reducing reliance on third parties. It adds to the company’s momentum in the power-first AI infrastructure space amid strong hyperscaler demand.

Size of Operation

  • Acquisition Cost: $8.8 million for the remaining stake.
  • Pipeline Context: Part of Soluna’s overall 4.3 GW compute pipeline.
  • Type: Texas data center with full ownership now held by Soluna for mining hosting and potential AI/HPC use.

Companies Mentioned

Article Link: https://intellectia.ai/news/crypto/core-scientific-acquires-polaris-for-421-million-to-expand-ai-infrastructure

Article Summary: "Core Scientific Acquires Polaris for $421 Million to Expand AI Infrastructure"

Published: May 2026

Source: Intellectia.AI

Main Topic

Core Scientific (NASDAQ: CORZ) has agreed to acquire Polaris, a Bitcoin mining company, for $421 million. The deal adds power assets and sites in Oklahoma that will be repurposed or expanded for AI and high-performance computing (HPC) data centers, further accelerating Core Scientific’s pivot from Bitcoin mining to AI infrastructure.

Key Details

  • Acquisition Value: $421 million (cash and/or stock transaction).
  • Assets: Polaris’s operational Bitcoin mining sites and power infrastructure in Oklahoma.
  • Strategic Rationale: Oklahoma offers competitive power costs and supportive policies; the acquisition strengthens Core Scientific’s AI/HPC pipeline and overall capacity.
  • Broader Context: Builds on Core Scientific’s aggressive AI expansion, including major hyperscaler contracts and financing initiatives.

Key Takeaways / Implications

The $421 million acquisition of Polaris gives Core Scientific immediate additional power assets in a favorable jurisdiction, supporting its AI data center growth. This continues the trend of Bitcoin miners acquiring or repurposing infrastructure for AI/HPC to capture higher margins. The deal enhances Core Scientific’s scale and positions it as a leading player in the power-constrained AI boom.

Size of Operation

  • Deal Value: $421 million.
  • Focus: Expansion of AI data center capacity in Oklahoma (exact additional MW not specified; contributes to multi-GW ambitions).
  • Type: Acquisition of Bitcoin mining assets for conversion/expansion into AI/HPC infrastructure.

Companies Mentioned

Article Link: https://www.kucoin.com/news/flash/bitcoin-depot-files-for-bankruptcy-9700-crypto-atms-shut-down

Article Summary: "Bitcoin Depot Files for Bankruptcy, 9,700 Crypto ATMs Shut Down"

Published: May 2026

Source: KuCoin News (Flash section)

Main Topic

Bitcoin Depot, a major operator of cryptocurrency ATMs in the U.S., has filed for Chapter 11 bankruptcy. The filing results in the shutdown of its network of approximately 9,700 crypto ATMs as the company restructures amid declining transaction volumes, regulatory pressures, and operational challenges in the crypto ATM sector.

Key Details

  • Bankruptcy Filing: Chapter 11 protection to reorganize debts and operations.
  • ATM Network: ~9,700 machines affected, representing a significant portion of Bitcoin Depot’s footprint.
  • Challenges: Reduced crypto trading activity, increased regulatory scrutiny on money transmitters, high operating costs, and competition from other payment methods.
  • Next Steps: The company will focus on restructuring, potential asset sales, and streamlining operations while continuing limited services during the process.

Key Takeaways / Implications

Bitcoin Depot’s bankruptcy highlights the difficulties facing the crypto ATM industry as adoption shifts toward digital wallets, exchanges, and institutional channels. The shutdown of thousands of machines reduces physical crypto access points, particularly in underserved areas. This event may accelerate consolidation in the sector and reflects broader challenges for legacy crypto infrastructure businesses amid regulatory evolution and market maturation. For the mining and broader crypto ecosystem, it underscores shifting retail engagement patterns.

Size of Operation

  • ATM Network: Approximately 9,700 crypto ATMs shut down.
  • Type: Crypto ATM operator entering Chapter 11 restructuring.
  • No mining, hashrate, or data center metrics applicable.

Article Link: https://news.bitcoin.com/canaan-wins-nordic-heating-bid-turns-bitcoin-mining-waste-heat-into-residential-hot-water/

Article Summary: "Canaan Wins Nordic Heating Bid, Turns Bitcoin Mining Waste Heat into Residential Hot Water"

Published: May 2026

Source: Bitcoin.com News

Main Topic

Canaan Inc. has won a competitive bid in the Nordic region to supply waste heat from its Bitcoin mining operations for residential district heating. The project converts excess heat generated by mining rigs into usable hot water for local homes, improving energy efficiency and supporting Canaan’s sustainability initiatives.

Key Details

  • Project Scope: Integration of mining facilities with local district heating networks to capture and redistribute waste heat.
  • Benefits: Reduces overall energy waste, lowers carbon footprint for heating, and creates additional revenue streams for the mining operation through heat sales.
  • Nordic Context: The region’s cold climate and strong district heating infrastructure make it ideal for such heat recovery projects.
  • Strategic Alignment: Canaan continues to innovate in mining hardware and operations, positioning itself for both efficiency gains and ESG-friendly applications amid the broader industry pivot toward AI/HPC.

Key Takeaways / Implications

This waste heat utilization project demonstrates a practical way for Bitcoin mining to contribute positively to local energy systems, particularly in cold climates. It enhances Canaan’s ESG profile and could serve as a model for other miners seeking sustainable operations. The initiative aligns with growing pressure on the industry to mitigate environmental impact while maintaining profitability.

Size of Operation

  • No specific MW or hashrate figures disclosed in the article (focus is on the waste heat recovery project rather than mining capacity).
  • Type: Waste heat recovery from Bitcoin mining operations integrated with residential district heating in the Nordic region.

Companies Mentioned

Article Link: https://www.dobenergy.com/news/headlines/2026/05/20/new-west-data-signs-letter-of-intent-to-acquire-oi

Article Summary: "New West Data Signs Letter of Intent to Acquire OI"

Published: May 20, 2026

Source: DOB Energy (energy sector news)

Main Topic

New West Data, a data center and digital infrastructure company, has signed a non-binding letter of intent (LOI) to acquire OI (a company with energy or data center assets). The proposed deal aims to expand New West Data’s footprint in high-performance computing, AI infrastructure, and potentially Bitcoin mining-related facilities.

Key Details

  • Deal Structure: Non-binding LOI for the acquisition (specific valuation, terms, and timeline not fully detailed in the headline coverage).
  • Strategic Rationale: The acquisition would add power capacity, sites, or operational expertise to support New West Data’s growth in data centers and compute infrastructure.
  • Context: Fits the broader trend of consolidation in the data center and mining sectors as companies seek scale amid surging AI demand and power constraints.

Key Takeaways / Implications

This LOI signals continued M&A activity in the energy and data center space, with companies positioning for AI/HPC growth. If completed, the deal could strengthen New West Data’s competitive position by adding assets in a market where power and infrastructure are key moats. It aligns with the ongoing miner-to-AI pivot and industry consolidation.

Size of Operation

  • No specific MW, hashrate, or valuation details disclosed in the available content (focus is on the LOI announcement).
  • Type: Proposed acquisition in the data center/digital infrastructure sector.

Companies Mentioned

  • New West Data (acquirer signing LOI for OI)

Article Link: https://www.binance.com/en/square/post/05-19-2026-peter-brandt-predicts-bitcoin-bottoming-ahead-of-next-halving-324808055719202

Article Summary: "Peter Brandt Predicts Bitcoin Bottoming Ahead of Next Halving"

Published: May 19, 2026

Source: Binance Square (Peter Brandt analysis)

Main Topic

Veteran trader and technical analyst Peter Brandt predicts that Bitcoin has likely formed a major bottom and is poised for a significant rally ahead of the next halving (expected in 2028). He bases this on historical cycle patterns, chart formations, and current market structure.

Key Details

  • Prediction: Bitcoin has completed a major bottom and is in the early stages of a new bull cycle.
  • Technical Analysis: Brandt highlights classic chart patterns, support levels, and historical post-halving performance as supporting factors.
  • Cycle Context: With the 2024 halving behind us, the market is entering the "pre-halving" accumulation phase leading into the 2028 event.
  • Broader Sentiment: Brandt’s view aligns with other bulls who see current prices as attractive entry points despite recent volatility and miner selling pressure.

Key Takeaways / Implications

Peter Brandt’s bullish call on Bitcoin bottoming adds to the chorus of veteran analysts expecting a strong cycle ahead. His technical perspective provides a counterpoint to short-term bearish sentiment driven by high difficulty and miner capitulation. For the mining industry, a sustained Bitcoin rally would improve profitability and ease margin pressures, potentially slowing the pace of AI/HPC pivots or allowing hybrid models to thrive.

Article Link: https://bitcoinmagazine.com/news/capital-b-acquires-192-bitcoin-for-13

Article Summary: "Capital B Acquires 192 Bitcoin for $13 Million"

Published: May 2026

Source: Bitcoin Magazine

Main Topic

Capital B has purchased an additional 192 BTC for approximately $13 million, continuing its aggressive corporate Bitcoin treasury accumulation strategy. The acquisition adds to its growing holdings and reflects ongoing institutional and corporate interest in Bitcoin as a reserve asset.

Key Details

  • Purchase: 192 BTC acquired at prevailing market prices.
  • Strategic Context: Part of Capital B’s broader plan to build a significant Bitcoin treasury, similar to other public companies following the MicroStrategy model.
  • Market Environment: The buy occurs amid Bitcoin price consolidation and continued miner selling pressure as many operators pivot toward AI/HPC.

Key Takeaways / Implications

Capital B’s latest BTC purchase adds to the steady flow of corporate buying, providing underlying demand support for Bitcoin. This strategy allows companies to build exposure to Bitcoin’s upside with relatively straightforward treasury management. For the mining industry, sustained corporate accumulation helps offset selling from miners liquidating holdings to fund AI transitions.

Size of Operation

  • Bitcoin Purchase: 192 BTC (~$13 million).
  • Type: Corporate Bitcoin treasury expansion (no mining or data center metrics in the article).

Companies Mentioned

  • Capital B (acquired 192 BTC for $13 million)
    • Key Notes: Bitcoin treasury-focused entity; continuing aggressive accumulation strategy.

Article Link: https://www.wkms.org/business-economy/2026-05-06/small-nuclear-reactor-could-power-mccracken-count-crypto-mining-center-under-new-partnership

Article Summary: "Small Nuclear Reactor Could Power McCracken County Crypto Mining Center Under New Partnership"

Published: May 6, 2026

Source: WKMS (Western Kentucky Public Radio)

Main Topic

A partnership in McCracken County, Kentucky, is exploring the use of a small modular nuclear reactor (SMR) to power a proposed cryptocurrency mining center. The project aims to deliver reliable, low-carbon baseload energy for the energy-intensive mining operation while potentially supporting broader community or industrial energy needs.

Key Details

  • Project: Crypto mining facility powered by an SMR.
  • Partnership: Collaboration between local stakeholders, energy developers, and mining operators to advance the nuclear-powered site.
  • Advantages: SMRs provide constant, high-density power with low emissions and minimal grid dependency — ideal for 24/7 mining operations.
  • Context: Kentucky is actively exploring advanced energy solutions (nuclear, gas, renewables) to attract data centers and mining projects, balancing economic growth with energy reliability and environmental considerations.

Key Takeaways / Implications

This initiative reflects growing interest in advanced nuclear technology for powering crypto mining and data centers in regions seeking clean, firm power. If realized, it could serve as a model for sustainable mining operations and open opportunities for hybrid mining-to-AI repurposing. It also highlights the industry's shift toward lower-carbon energy sources amid increasing regulatory and community scrutiny of traditional fossil fuel-powered facilities.

Article Link: https://www.datacenterdynamics.com/en/news/t-rex-to-acquire-3mw-crypto-data-center-in-roberta-georgia/

Article Summary: "T-REX to Acquire 3MW Crypto Data Center in Roberta, Georgia"

Published: April 2026

Source: Data Center Dynamics (DCD)

Main Topic

T-REX Acquisition Corp. (OTCQB: TRXA), through its subsidiary, has signed a definitive asset purchase agreement to acquire a fully operational 3 MW turnkey cryptocurrency mining data center in Roberta, Georgia. The deal includes land, portable mining containers, and an electrical services contract, significantly boosting the company’s mining capacity.

Key Details

  • Assets Acquired:
    • 3 MW operational data center.
    • 5.8-acre land parcel for future expansion.
    • Six portable mining containers.
    • Electrical contract with Flint Electric Membership Corporation for up to 4.5 MW.
  • Impact: Expected to increase overall crypto mining capacity by up to 450%.
  • Strategic Context: Part of T-REX’s vertically integrated model covering proprietary mining, data centers, container manufacturing, and management software. The acquisition provides immediate operational capacity and room for growth.

Key Takeaways / Implications

This acquisition accelerates T-REX’s expansion in a capital-efficient way by adding ready-to-use infrastructure. The Georgia location benefits from competitive power access, and the extra land supports future scaling (including potential AI/HPC repurposing). It reflects ongoing consolidation and growth in the mining sector, particularly for smaller public companies building capacity amid industry challenges.

Size of Operation

  • Acquired Capacity: 3 MW operational (expandable to 4.5 MW via power contract).
  • Land: 5.8 acres for additional development.
  • Impact: Up to 450% increase in mining capacity.
  • Type: Turnkey Bitcoin mining data center with portable containers.

Companies Mentioned

  • T-REX Acquisition Corp. (OTCQB: TRXA) (acquirer of the 3 MW Georgia data center)
    • Official Website: Limited public presence (OTCQB-listed vertically integrated crypto mining company).
    • LinkedIn Company Page: No prominent public page identified.
    • Key Notes: OTCQB: TRXA; acquiring 3 MW operational data center in Roberta, Georgia; expects up to 450% capacity increase; President Frank Horkey highlighted the strategic fit for growth.
  • Cryptaugh LLC and Sonace LLC (sellers of the assets).
  • Flint Electric Membership Corporation (power provider for up to 4.5 MW contract).

Article Link: https://markets.businessinsider.com/news/stocks/ionic-digital-announces-april-2026-mining-and-operations-update-1036171462

Article Summary: "Ionic Digital Announces April 2026 Mining and Operations Update"

Published: May 2026

Source: Business Insider (Markets/Stocks section)

Main Topic

Ionic Digital released its April 2026 operational update, detailing Bitcoin production, hashrate performance, and ongoing efforts to optimize its mining fleet. The company continues to focus on efficient Bitcoin mining while exploring strategic opportunities in the evolving digital asset and infrastructure landscape.

Key Details

  • Bitcoin Production: Monthly output for April 2026 (specific figure in the full release; reflects current fleet utilization).
  • Hashrate & Efficiency: Updates on deployed hashrate, average operating hashrate, and fleet efficiency improvements.
  • Operational Focus: Emphasis on cost management, power optimization, and potential diversification or expansion initiatives.
  • Strategic Context: Ionic Digital operates as a Bitcoin mining company with a focus on sustainable and efficient operations amid high network difficulty and margin pressures.

Key Takeaways / Implications

Ionic Digital’s April update provides transparency on its mining performance and operational adjustments. As a smaller or mid-tier player, the company is navigating the competitive post-halving environment through efficiency gains. The release aligns with the broader industry trend of miners optimizing fleets while many larger operators accelerate AI/HPC pivots for higher-margin revenue.

Size of Operation

  • No new specific MW or total hashrate figures highlighted in the summary (the full update contains detailed April 2026 production and operational metrics).
  • Type: Bitcoin mining operations with focus on efficiency and fleet management.

Article Link: https://www.msn.com/en-us/money/companies/agriculture-firm-agriforce-powers-120-crypto-miners-with-natural-gas/ar-AA1GVZ3T

Article Summary: "Agriculture Firm AgriForce Powers 120 Crypto Miners with Natural Gas"

Published: May 2026

Source: MSN (syndicating business news)

Main Topic

AgriForce Brands Inc. (NASDAQ: AGRI), an agriculture technology company, has deployed 120 cryptocurrency miners powered by natural gas at one of its facilities. The initiative allows AgriForce to monetize excess or on-site energy resources while generating additional revenue from crypto mining operations.

Key Details

  • Deployment: 120 crypto miners (likely Bitcoin-focused ASICs) running on natural gas-generated power.
  • Energy Source: On-site or dedicated natural gas generation, providing low-cost, flexible power for the mining rigs.
  • Strategic Rationale: Diversifies revenue beyond core agriculture tech; utilizes available energy assets efficiently.
  • Context: Reflects a growing trend of non-traditional players (agriculture, energy firms) entering crypto mining using behind-the-meter or stranded gas solutions for cost advantages and revenue diversification.

Key Takeaways / Implications

AgriForce’s move into crypto mining via natural gas demonstrates creative energy monetization across industries. It adds to the broader ecosystem of gas-to-power mining projects and highlights how flexible loads like mining can utilize surplus energy. For the mining sector, it expands participation beyond dedicated miners and supports the narrative of mining as a tool for energy optimization. The small scale (120 rigs) suggests an initial pilot with potential for expansion.

Size of Operation

  • Miners Deployed: 120 crypto mining rigs.
  • Power Source: Natural gas generation (exact MW not specified).
  • Type: Pilot-scale crypto mining operation integrated with agriculture/energy assets.

Companies Mentioned

Article Link: https://news.bitcoin.com/bit-digital-posts-146m-q1-loss-as-ethereum-treasury-tops-155000-eth/

Article Summary: "Bit Digital Posts $146M Q1 Loss as Ethereum Treasury Tops 155,000 ETH"

Published: May 2026

Source: Bitcoin.com News

Main Topic

Bit Digital, Inc. (NASDAQ: BTBT) reported a substantial $146 million net loss in Q1 2026, largely driven by impairment charges, operational costs, and market conditions. However, the company highlighted its strong Ethereum treasury, which has grown to over 155,000 ETH, positioning it as a major corporate holder of ETH alongside its Bitcoin mining operations.

Key Details

  • Financial Results: $146 million net loss in Q1.
  • Ethereum Holdings: Surpassed 155,000 ETH (significant treasury asset).
  • Operations: Continued Bitcoin mining activities with updates on hashrate and fleet performance.
  • Strategy: Bit Digital maintains a dual focus on BTC mining and building a large ETH treasury, reflecting a diversified digital asset strategy amid the broader industry shift toward AI/HPC.

Key Takeaways / Implications

The large Q1 loss reflects the challenging environment for miners (high difficulty, post-halving margins, and non-cash impairments), but the substantial ETH treasury provides a hedge and upside exposure to Ethereum’s ecosystem. Bit Digital’s approach of accumulating ETH distinguishes it from pure BTC miners and could appeal to investors seeking diversified crypto exposure. The results underscore ongoing pressure on mining profitability, encouraging many operators to accelerate AI pivots or treasury strategies.

Size of Operation

  • Q1 Net Loss: $146 million.
  • Ethereum Treasury: >155,000 ETH.
  • Type: Bitcoin mining with significant Ethereum treasury holdings (specific hashrate/MW not detailed in headline coverage).

Companies Mentioned

Article Link: https://www.aol.com/articles/cleanspark-ceo-says-company-sold-211921000.html

Article Summary: "CleanSpark CEO Says Company Sold Bitcoin for $7,000 Above Spot Price Last Quarter"

Published: May 15, 2026

Source: AOL (syndicating TheStreet)

Main Topic

CleanSpark (NASDAQ: CLSK) CEO Matt Schultz highlighted the company’s disciplined, countercyclical strategy in an interview. CleanSpark has avoided heavy leverage and equity dilution, focusing instead on self-mined Bitcoin, an options strategy for yield, a Bitcoin-backed credit facility, and significant stock buybacks.

Key Details

  • Options Strategy: In one month last quarter, CleanSpark sold Bitcoin $7,000 above spot due to premiums generated from their digital asset management program, contributing $24 million in revenue.
  • Bitcoin Holdings: Holds approximately 13,500 self-mined BTC on the balance sheet.
  • Financial Discipline: No equity offerings in two years; executed $450+ million in stock buybacks; secured a $400 million low-interest Bitcoin-backed credit facility (largely undrawn).
  • Philosophy: Conservative approach — mine and hold, sell only what’s needed for operations, use derivatives for yield rather than leverage.

Key Takeaways / Implications

CleanSpark stands out among miners for its risk-averse treasury management and capital discipline. The ability to sell BTC above spot via options provides a meaningful revenue boost without additional hardware. This strategy offers strong downside protection and shareholder value through buybacks. It positions CleanSpark favorably in a volatile market and amid the broader industry shift toward AI/HPC.

Size of Operation

  • Bitcoin Holdings: ~13,500 BTC (all self-mined).
  • Credit Facility: $400 million Bitcoin-backed.
  • Stock Buybacks: $450+ million since 2023.
  • Type: Conservative Bitcoin mining with sophisticated treasury and derivatives overlay.

Companies Mentioned

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Latest Directories Listings

Discover companies involved in bitcoin mining from self-miners, hosting providers, hardware vendors and more

CleanSpark

CleanSpark (NASDAQ: CLSK) is a Henderson, Nevada-based data center developer and Bitcoin mining leader (founded 1987) owning/operating U.S. facilities with competitive energy prices, focusing on compute power and shareholder returns.

Marathon Digital

MARA Holdings, Inc. (NASDAQ: MARA) is a Fort Lauderdale, Florida-based public company (founded 2013) focused on Bitcoin mining, digital energy infrastructure, and transforming excess energy into digital capital, with expertise in AI/edge computing efficiency.

Riot Platforms

Riot Platforms (NASDAQ: RIOT) is a publicly traded Bitcoin mining and data center development company (headquartered in Castle Rock, Colorado) operating facilities in Texas and Kentucky with engineering in Denver/Houston, expanding into HPC/AI.