forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking ...

Cantor Fitzgerald significantly expanded its stake in Bitcoin (BTC) mining and AI cloud firm IREN Ltd (Nasdaq: IREN). In a Feb. 17 filing with the U.S. Securities and Exchange Commission (SEC), the financial services firm reported purchasing 3,333,423 additional shares of IREN worth nearly $171.96 million based on average quarterly prices. The move increased the firm’s quarter-end IREN holding by roughly $124.65 million, underscoring Wall Street’s growing interest in AI cloud and virtual asset plays. Fo ...

Core Viewpoint - Riot Platforms' stock experienced a nearly 6% increase, driven by actions from activist investor Starboard Value rather than Bitcoin price movements [1] Group 1: Shareholder Actions - Activist investor Starboard Value communicated with Riot's CEO and chairman, urging them to intensify their transformation strategy [2] - Starboard highlighted that Riot's share price has underperformed compared to other crypto miners transitioning into AI and high-performance computing (HPC) [3][4] Group 2: Company Strategy and Potential - Riot is attempting to leverage its existing assets to enhance its AI and HPC hosting services, indicating a strategic shift [3] - Starboard believes Riot is well-positioned for high-quality deals and emphasizes the need for urgency in completing these deals [4] - The potential for successful diversification into AI and HPC could provide significant opportunities for Riot [5]

Q3 F2026 Results Webcast Quarter Ended December 31, 2025 Disclosures In this presentation, "HIVE" or the "Company" refers to HIVE Digital Technologies Ltd (TSX.V: HIVE | NASDAQ: HIVE). Currency: All amounts are in US dollars, unless otherwise indicated. Forward Looking Information. Except for the statements of historical fact, this presentation contains "forward-looking information" within the meaning of applicable Canadian and U.S. securities regulations. These forward- looking statements are based on expe ...

Core Viewpoint - The decline in Bitcoin prices has prompted crypto mining companies to pivot towards artificial intelligence (AI) as a more profitable venture [1]. Group 1: Market Dynamics - Smaller Bitcoin mining companies, like TeraWulf, are well-positioned to adapt quickly to market changes, with TeraWulf's market cap at $7 billion and a stock increase of 52% year-to-date and over 240% in the past year [2][10]. - The massive computing power used for Bitcoin mining is now being redirected to support AI projects, attracting interest from investment firms such as Morgan Stanley, which has begun covering the Bitcoin mining sector with a focus on AI infrastructure [3][5]. Group 2: Company Strategy - TeraWulf is recognized as a potential AI infrastructure play, with plans to expand its AI infrastructure through 2030, capitalizing on the high demand for AI computing [5]. - The company has been selling off Bitcoin to finance its AI operations, indicating a strategic shift towards AI as a more lucrative business model [8]. Group 3: Valuation Considerations - TeraWulf's valuation may depend on whether it is viewed as a Bitcoin miner or an AI infrastructure company; if considered a Bitcoin miner, its growth potential could be limited due to minimal Bitcoin holdings [9]. - Morgan Stanley has set a price target of $37 for TeraWulf, suggesting significant upside potential if the market views it as an AI infrastructure play [9].

Core Insights - Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating strong operational performance despite macroeconomic challenges [1][2] - The company's deployed global hashrate exceeded 10 EH/s, with an operating hashrate of 6.63 EH/s at the end of January 2026 [1][3] Financial Performance - In January 2026, Canaan mined 83 BTC, contributing to a total of 1,778 BTC and 3,951 ETH owned by the company [3] - The average revenue split for the month was 58.2%, with an average all-in power cost of US$0.043 per kWh [3][6] Operational Efficiency - The global average miner efficiency improved to 24.2 J/TH, with North America averaging 19.3 J/TH and non-North America averaging 29.0 J/TH [4] - The month-end installed power capacity reached 253.3 MW, with 95.7 MW in North America and 157.5 MW globally [4] Strategic Initiatives - Canaan is focused on advancing energy reuse and expanding into the home mining segment, which is expected to offer attractive margins with limited capital intensity [2] - The company announced a 3 MW proof-of-concept project in Manitoba, Canada, aimed at recovering heat from computing systems for greenhouse operations, targeting 95% uptime [9] Shareholder Engagement - Canaan's board approved a US$30 million share buyback program, with approximately 2.8 million ADSs repurchased for a total of US$2 million as of February 10, 2026, reflecting management's confidence in the company's financial position [10]

Core Viewpoint - The Russian lawmaker Anatoly Aksakov predicts that Bitcoin will eventually decline, which could negatively impact Russia's growing crypto mining industry, currently valued at over $13 billion [1][2]. Regulation Plans - Aksakov is drafting a new bill aimed at regulating Bitcoin mining firms, which includes legalizing the industry for compliant companies [3][4]. - The proposed regulations will cover crypto exchanges and allow banks to offer crypto trading services to clients, along with penalties for illegal mining and cryptocurrency circulation [5]. - Under a 2024 law, Russians can mine crypto in most areas as long as they do not exceed 6,000 kWh of electricity per month, although mining is banned in energy-short regions until 2031 [6]. Market Sentiment - Aksakov expresses skepticism about the long-term viability of cryptocurrency, describing it as a hype-driven market that is inherently volatile and influenced by subjective factors rather than objective economic principles [2][4].

Core Insights - Cipher Mining is transitioning from primarily crypto mining to securing long-term contracts with tech giants for AI data centers, with Amazon being a significant customer through a 15-year lease worth $5.5 billion [1] Group 1: AI and Tech Contracts - Cipher Mining is expected to win more contracts as it brings additional gigawatts online, currently holding a 3.4 gigawatt pipeline that remains largely unallocated [2] - The Amazon deal illustrates that Cipher Mining can secure contracts without immediate energy delivery, with part of the 300 megawatts promised to Amazon expected by July 2026 [9] Group 2: Crypto Mining Operations - Cipher Mining's crypto mining revenue has nearly tripled year-over-year to $71.7 million, although the segment remains unprofitable with a reduced operating loss of $37.6 million compared to $91.4 million in the same quarter last year [4] - The company holds $170 million in Bitcoin, providing direct exposure to Bitcoin price movements, unlike other miners who sell their mined Bitcoin immediately [5] Group 3: Expansion and Infrastructure - Cipher Mining has acquired a 200 megawatt site in Ohio, expanding its geographical footprint and increasing its total pipeline to 3.4 gigawatts across eight sites [7] - This expansion allows Cipher Mining to build its energy pipeline more rapidly while already having sufficient gigawatts to support future tech deals [8]

Group 1 - The article focuses on MARA Holdings (MARA) and compares it with other crypto miners like IREN (IREN) and TeraWulf (WULF) as well as AI Cloud providers [1] - The author has been investing since 2016 and established Libra Capital in 2022, indicating a long-term commitment to investment research [1] - The article serves as a deep research piece before making investment decisions, categorizing stocks into "hold," "sell," or "long" positions [1] Group 2 - The author has a beneficial long position in MARA and IREN, indicating confidence in these stocks [2] - The article expresses the author's personal opinions and is not influenced by compensation from any company mentioned [2] - There is no business relationship with any of the companies discussed, ensuring an unbiased perspective [2]

Core Insights - Hive Digital Technologies reported significant year-over-year growth in Bitcoin production for January 2026, producing a total of 297 Bitcoin, which is a 191% increase compared to the same period last year [1] - The company's average daily production was approximately 9.6 Bitcoin per day, with an average hashrate of 22.2 exahash per second (EH/s), peaking at 23.7 EH/s, marking a 290% year-over-year increase [1] - The performance improvements are attributed to ongoing infrastructure investments, disciplined fleet upgrades, and a geographically diversified operating model [1] Production and Efficiency - The addition of 2,667 new Bitmain S21 XP ASIC miners is expected to enhance operational efficiency and overall performance [1] - These new miners are being installed at the Yguazú facility in Paraguay, replacing older Buzzminer ASICs [1] - Once fully installed, the new miners are projected to increase the company's installed global hashrate to approximately 25.5 EH/s and improve global average fleet efficiency to about 17 joules per terahash (J/TH) [1] Strategic Positioning - The upgrades position Hive to continue delivering competitive production results while focusing on efficient, scalable, and sustainable digital asset infrastructure [1]