Here are some highlights from the world of Bitcoin Mining last week.
Index Update
5-D Volatility: Bitcoin mining stocks mirrored Bitcoin’s volatility—but in more amplified way. Here’s how they performed compared to other major stocks 👇👇
Major Company Updates
- Greenidge Generation announces early results of cash tender offer and exchange offer for Senior Notes due 2026 (link)
- IREN expands AI cloud with 2.4k NVIDIA Blackwell GPUs (link)
- Digi Power X announces proposed shares for debt settlement with NANO Nuclear Energy (link)
- Hut 8 secures five-year capacity contracts with IESO for 310 MW of power generation assets (link)
- Riot Platforms, Inc. reports beneficial ownership of 12.3% in Bitfarms Ltd. (link)
- American Bitcoin and Gryphon Digital Mining advance toward public listing of American Bitcoin with filing of amended registration statement on Form S-4 (link)
- Bit Digital, Inc. announces full exercise of underwriters' option to purchase additional ordinary shares (link)
Must Read: IREN achieves mid-year target of 50 EH/s (link)
What Happened: On June 30, 2025, IREN announced the achievement of 50 EH/s in installed self-mining capacity, marking a 50x organic scale-up in just 30 months. With the milestone complete, IREN now shifts focus to scaling AI infrastructure, starting with a 50MW liquid-cooled AI data center slated for Q4 2025.
Cindy's Thoughts: 👍 Remarkable achievement! Reaching 50 EH/s puts IREN at over 5% of the global Bitcoin network hash rate. Alongside MARA, CLSK, and CANG, IREN now ranks among the largest miners by capacity. What’s most interesting is their strategic pivot—rather than continuing to chase hash rate dominance, IREN is going to leverage its data center expertise to expand into AI infrastructure. This move could help the company better navigate Bitcoin market cycles while capitalizing on accelerating demand for compute power.
P.S. As promised, the company Deep Dive dropped last week! The stock of BMNR soared 3,496.12% in just 5 days, and it could be pointing to a new trend: the Ethereum treasury strategy.
That’s all for this week! Feel free to drop us a message if you have any suggestions, feedback, or just want to say hi.
Thanks for being part of our journey-see you next week!
Cindy & the BMS Team 💜