How companies are scaling their mining operations, fleet upgrades, and hash rate targets.
AGRI · Q4 FY2025 Earnings Call
…Company remains active in Bitcoin mining with approximately 300 petahash of capacity. Plans to continue operations in the medium term, with selective small-scale expansion while maintaining site-level profitability. 2026 Outlook Management expects substantial improvement in revenue and profitability driven by AVAX token accumulation, staking gro…
KEEL · Q4 FY2025 Earnings Call
…after zoning approvals. Bitcoin Mining Transition Mining hash rate will continue to decline throughout 2026. No capital invested into new miners; operations maintained only until sites require construction. Bitcoin sales will be opportunistic and proceeds reinvested into HPC infrastructure. Analyst Q&A Mike Grondahl – Northland Question: Wha…
LMFA · Q4 FY2025 Earnings Call
…infrastructure. Operational Performance Total energized hash rate increased from ~560 PH at the start of 2025 to ~750 PH by year-end and ~782 PH by February 2026. Mississippi acquisition added ~7.5 MW and ~220 PH; produced a 27% jump in BTC production from September to October (5.9 to 7.5 BTC). Immersion program launched in Dec…
FUFU · Q4 FY2025 Earnings Call
…despite net loss) Operational Highlights Managed Hashrate: 26.1 EH/s at year-end 2025. Self‑Owned Hashrate: 3.7 EH/s. Third‑Party + Hosting Hashrate: 22.4 EH/s. Total Power Capacity: 478 MW, with 164 MW self-controlled (U.S. & Ethiopia). Maintained disciplined CapEx, limiting hardware expansion to match available power…
CANG · Q4 FY2025 Earnings Call
…Cango built a globally distributed Bitcoin mining network with hashrate scaling to 50 EH/s (about 4–5% of the global network). The year included substantial nonrecurring losses and market-driven impairments, overshadowing operational growth. Financial Highlights Q4 2025 Revenue: $179.5M. Full-Year 2025 Revenue: $688.1M. Bit…
CORZ · Q4 FY2025 Earnings Call
…financing. Leadership highlighted major build-out advancements, energized capacity milestones, and a robust development pipeline exceeding 1.5 GW of future leasable capacity. Key Financial & Operational Highlights Total liquidity at year-end 2025 was approximately $530 million. Sold 1,900 Bitcoin in January 2026 for roughly $175 million; now hol…
RIOT · Q4 FY2025 Earnings Call
…Bitcoin produced: 5,686 BTC, up 18% from 4,828 BTC in FY 2024. Hash rate deployed: 38.5 EH/s, up 22% from 31.5 EH/s in FY 2024. Cost to mine: USD 49,645 per Bitcoin, up from USD 32,216 in FY 2024 due to a 47% increase in network difficulty. Power curtailment credits: USD 56.7 million, equivalent to nearly USD 10,000 per Bitcoin mined.…
WULF · Q4 FY2025 Earnings Call
…facilities (CB1, CB2A, CB2B) on track; all capacity to be fully energized by end of Q1 2026. Fluidstack buildings: CB3 delivering mid-May 2026; CB4 and CB5 on track for Q3 and Q4 2026 revenue commencement, respectively. Standardized designs for Fluidstack sites increased critical IT capacity from 162 MW to 168 MW per building, adding ~$200M…
MARA · Q4 FY2025 Earnings Call
…Operational Highlights (Compared to Prior Periods) Energized hashrate grew 25% year-over-year to 66.4 EH/s (up from 53.2 EH/s in Q4 2024). Bitcoin holdings increased over 20% to 53,822 BTC (from ~44,000 BTC in Q4 2024). Average daily Bitcoin production fell to 21.9 BTC/day (down from 27.1 BTC/day in Q4 2024), driven by higher global network diffic…
ABTC · Q4 FY2025 Earnings Call
…share: 554 in Q4 (up 49% from 371 in Q3). Installed capacity: 25 EH/s with efficiency of ~16.3 J/TH. SG&A: $7.3M in Q4 vs $8.1M in Q3; SG&A fell to 9% of revenue (from 13%). ATM capital raised: $240M gross to date (11% of program capacity). Profitability & Earnings Net loss (Q4): –$59.5M, driven primarily by non‑cash fair value loss of $112.2M f…
HUT · Q4 FY2025 Earnings Call
…Infrastructure upgrades. Higher deployed hash rate. Full-year contribution from Highrise AI (+$7.4M YoY). Capital Structure and Strategy 2025 marked a major shift away from high-cost, cyclical Bitcoin mining toward lower-cost, contracted infrastructure. Hut 8 holds almost no parent-level recou…
HIVE · Q3 FY2026 Earnings Call
…Forward Outlook 2025 was described as a “scaling year” for hashrate; 2026 is expected to be the scaling year for HPC and AI Cloud revenue. HIVE anticipates reaching $225M ARR from HPC and colocation by year‑end under its current roadmap. Additional 100 MW Paraguay power expansion will be built as Tier 1 initially, with future optionality for Tier…
BTDR · Q4 FY2025 Earnings Call
…and 28.7% sequentially, driven by major growth in operating hash rate. SealMiner sales revenue: $23.4M, up 105% from Q3 2025. Gross profit: $10.6M (4.7% margin) vs. $40.8M (24.1%) in Q3 2025. Margin decline driven by 13% lower Bitcoin pricing, higher electricity costs (+5%), and increased depreciation. Adjusted EBITDA: $31.2M versus $39.6M in Q3 20…
CAN · Q4 FY2025 Earnings Call
…in Q4 and over 75% of product revenue. Installed self-mining hash rate reached 9.91 EH/s at year-end, up 8.6% quarter over quarter. Digital asset reserves totaled 1,750 BTC and 3,951 ETH, valued at approximately $166 million at year-end prices. Operating and Financial Results Gross margin for Q4 was $14.6 million versus $16.6 million in Q3, impa…
CLSK · Q1 FY2026 Earnings Call
…across multiple sites. CleanSpark now operates more than 50 EH/s of Bitcoin mining capacity and continues expanding power and land holdings to support AI development. Financial Performance Q1 revenue: USD 181M. Up USD 19M (12%) year-over-year. Down USD 43M (19%) quarter-over-quarter due to lower BTC prices a…
IREN · Q2 FY2026 Earnings Call
…workloads. Bitcoin mining revenue declined due to lower operating hashrate and weaker Bitcoin pricing. AI cloud revenue increased in line with commissioning new GPUs at Prince George. SG&A decreased by $37.6 million due to prior-period accelerated stock-based compensation and payroll tax accruals rolling off. Adjusted EBITDA decline…
ABTC · Q3 FY2025 Earnings Call
…Operational Metrics Total mining capacity: Reached 25 exahash by quarter end after exercising a purchase option for 14.8 EH of miners. Average fleet efficiency: 16.3 joules per terahash. Bitcoin reserves: Increased from 0 (April 1, 2025) to 3,418 Bitcoin, equal to 371 satoshis per share. Since Nasdaq listing: Added over 3,000 Bit…
NIPG · Q2 FY2025 Earnings Call
…few months. Tranche 1 (closed September 2025) added 3.11 EH/s capacity; the company mined 102 Bitcoins to date and holds over 150 Bitcoins in treasury as of Nov 30, 2025. Tranche 2 expected to close in December, adding 11.19 EH/s, bringing total installed capacity to 11.3 EH/s. Combined expected production: ~150 Bitcoins per month under…
CANG · Q3 FY2025 Earnings Call
…405.1 million. Operational Highlights Deployed hashrate: 50 exahash globally; average operating hashrate improved from 40.91 EH in July to 46.09 EH in October. Energy efficiency exceeded 90% uptime, aided by hardware refresh to T21 and S21 miners. Acquisition: 50MW facility in Georgia to reduce operating costs and support infra…
CLSK · Q4 FY2025 Earnings Call
…50 EH/s in Q4. CleanSpark now the largest U.S.-based miner by hash rate. Capital Strategy: Raised $1.15 billion via 0% convertible note with 27.5% conversion premium and 6.25-year term. Used $460M to buy back stock (~10.9% reduction in outstanding shares) and $200M to pay off debt. AI and HPC Expansion: Acquired 285 MW site i…
CAN · Q3 FY2025 Earnings Call
…Q3, holdings reach all-time high of 1,582 BTC. Deployed Hash Rate: Increased from 8.15 EH/s to 9.3 EH/s, with 7.8 EH/s currently energized. US Operations: Installed hash rate in the US grew 20% in Q3 to 4.4 EH/s. Pilot Projects: Partnered with Solana on a 20MW wind-powered mining facility in Texas. Stranded gas to…
LMFA · Q3 FY2025 Earnings Call
…MW), bringing capacity to 26 MW total across two sites. Hashrate: Increased from 0.48 EH/s in June to 0.71 EH/s by October, with additional growth scheduled in December. Mining Infrastructure: 6,700 machines currently operational. Bitmain S21 immersion-cooled rigs to deploy in December (adds ~70 PH/s). Bitcoin Production: In…
KEEL · Q3 FY2025 Earnings Call
…Mining Wind-down: Gradual phase out. Paso Pe facility (~20% hash rate) slated for sale; remaining exahash stable through Q4. Cloud GPU Strategy: Washington site may generate higher net income than total historical Bitcoin mining; financing under discussion with GPU OEMs. Market Positioning: Not pursuing M&A; focused on executing internal ro…
FUFU · Q3 FY2025 Earnings Call
…Management emphasized strong performance despite increasing global hash rate and network difficulty. Key Financial Highlights Basic and diluted EPS were $0.07 versus a loss of $0.03 per share in Q3 2024. Total costs were $173.5 million, up 94% year-over-year, in line with revenue growth. Operating expenses decreased 52.6% yea…
WULF · Q3 FY2025 Earnings Call
…Christopher Brendler – Rosenblatt: "Why is BTC hash rate declining?" Patrick Fleury response: Reconfiguring site for HPC (redundancy, cabling) requires shedding older miner capacity. Still profitable, plan to mine BTC through at least 2026. "Clarify whether development pipeline sits in Phase 2 or 4?"…
MARA · Q3 FY2025 Earnings Call
…$124.8 million (-$0.42/share) in Q3 2024. Energized hashrate jumped 64% YoY to 60.4 EH/s from 36.9 EH/s. BTC production cost improved with daily cost per PH/day declining 15% YoY. Capital & Liquidity: Issued $1.025B in zero-coupon convertible notes to fund strategic flexibility. Over $7B in liq…
HUT · Q3 FY2025 Earnings Call
…American Bitcoin deployment of 14.9 exahash, increasing total Hut 8 hash rate to 26.8 exahash. Gross profit increased tenfold to $48M with 68.6% gross margin. Digital Infrastructure: Revenue up 31% YoY to $5.1 million, driven by increased ASIC colocation activity. Shifted to intercompany operation with American Bitcoin, revenue now eliminated…
CIFR · Q3 FY2025 Earnings Call
…Bitcoin Mining Operations: Q3 self-mining hash rate: 23.6 EH/s (up from Q2 levels). Revenue: $72M in Q3 (vs. $44M in Q2) — up 65%, driven by higher bitcoin pricing and increased production from Black Pearl. Mined 629 BTC vs. 434 BTC in Q2. Average BTC price: ~$114.4k (vs. ~$99.7k in Q2). Efficiency: Fleet e…
RIOT · Q3 FY2025 Earnings Call
…1,426 Bitcoin in Q2 2025. Decline attributed to increased global hash rate (+8%) exceeding Riot’s hash rate growth (+3%). Power Credit Income: $31 million generated via power strategy, reducing net power cost to $0.032/kWh. Utilization rate improved to 86%. Bitcoin Holdings: 19,287 BTC (valued at $2.2 billion as of quarter end). CapEx P…
CANG · Q2 FY2025 Earnings Call
…exahash which accounts for approximately 6% of global network hash rate as of June 30, 2025. Revenue: Total revenue reached RMB 1 billion in Q2 2025. Of that, Bitcoin mining contributed RMB 989.4 million. This marks a significant shift from legacy operations to mining-focused revenue streams. Net Loss: Cango reported a net loss of RMB 2.1 b…
IREN · Q4 FY2025 Earnings Call
…tripled to 810 MW. Bitcoin mining platform scaled to 50 exahash; expansion paused but generating $1+ billion annualized revenue. AI infrastructure expanded rapidly, with 10,000+ GPUs either online or being commissioned. AI Cloud Business Growth: NVIDIA preferred partner status secured. L…
DMGI.V · Q3 FY2025 Earnings Call
…from Foundry and Block. Reactor: Being tested via small DMG hashrate contracts; to be integrated with Terra Pool and Helm. Blockseer Explorer: Released as a blockchain analytical tool; aims to expand capabilities further. AI and Infrastructure Expansion Plans to provide AI data center colocation, focusing on Canadian defense…
FUFU · Q2 FY2025 Earnings Call
…in Canada. RWA Integration: Exploring the tokenization of hash rate income via on-chain Real-World Assets (RWA) leveraging smart contracts, offering exposure to mining cash flows without equipment ownership. Market Conditions: Optimistic Bitcoin outlook; price at ~$120,000 with forecasts from various institutions predicting $200,000 by end…
LMFA · Q2 FY2025 Earnings Call
…will increase to 26 megawatts—equivalent to approximately 1.7 exahash—enhancing vertical integration and reducing reliance on third-party hosting. Relocation of Equipment: Completed relocation of 800 miners from a third-party Kentucky site to the company’s Oklahoma facility, improving operational efficiency and reducing power costs by ~40%.…
KEEL · Q2 FY2025 Earnings Call
…initiatives. Argentina operations, which had the least efficient fleet and rising energy costs, will be shuttered by November 11, 2025. This shutdown is expected to result in $18 million in proceeds from cost savings and equipment sales. Key fleet-wide performance improvements post-Argentina exit: Energy efficiency: +1%…
CLSK · Q3 FY2025 Earnings Call
…Over 200 MW available for immediate expansion. Hash Rate Growth: Operational hash rate reached 50 EH on June 24, 2025, up from 27.6 EH at FY2024-end (80% increase in 9 months). Global hash rate share increased from 4.3% to 5.6%. Fleet efficiency improved to 16 joules/TH. Next phase includes 10…
HUT · Q2 FY2025 Earnings Call
…Joseph Vafi (Canaccord) "Have you laid out yet kind of an exahash plan or the size of some goals?" Answer (Asher Genoot): American Bitcoin contributed 10.2 EH from Hut 8 and can scale to over 25 EH short term and 50 EH long term. Focus is on capital efficiency and strategic scale-up tied to return metrics, not just peer-relative growth. Nick…
CIFR · Q2 FY2025 Earnings Call
…Bitcoin Inventory: Increased from 1,034 to 1,063 BTC. Hash Rate: Exceeded guidance by reaching 16.8 EH/s in Q2 (previous target was 16 EH/s). Expected to reach 23.5 EH/s by end of Q3 2025 (previously guided 23.1 EH/s). Efficiency: Fleet operating efficiency improved to 20.8 J/TH with older rigs; expected to reach 16.8 J/TH with incoming h…
RIOT · Q2 FY2025 Earnings Call
…from 1,530 BTC in Q1 2025 amid a 9% increase in global network hash rate vs. Riot’s 5% hash rate growth. Self-Mining Hash Rate: Increased from 33.7 EH/s to 35.4 EH/s (+5%). Adjusted EBITDA: Rose to $495.3 million from a loss of $176.3 million in Q1 2025, driven by a $470.8 million unrealized Bitcoin valuation gain. Net Income: $219.5 mi…
MARA · Q2 FY2025 Earnings Call
…corporate holder of bitcoin globally. Energized Hashrate: Reached 57.4 EH/s, up 82% from 31.5 EH/s in Q2 2024. Operational Highlights: Purchased energy cost per bitcoin: $33,735 (among the lowest in the sector). May 2025 set a new monthly record for blocks won and operational performance. 70% of ha…
HIVE · Q4 FY2025 Earnings Call
…depreciation. Outlook Scale-Driven Margin Expansion: With hash rate doubling and BTC targets of $100K–$150K, HIVE expects annualized revenues of $400M–$700M and gross margins up to $500M. Fully Funded Growth: HIVE confirmed all ASIC orders through 25 EH/s have been paid or reserved with deposits. Strategic Buyback: Plan to repu…
FUFU · Q1 FY2025 Earnings Call
…April 2024 Bitcoin halving event and temporary disruptions in hashrate procurement. Net Loss: $16.8 million, compared to a profit last year, primarily due to a $19.4 million unrealized fair value loss on digital assets and related collateral. Adjusted EBITDA: -$10.8 million; however, excluding noncash valuation losses, adjusted EBITDA would…
DMGI.V · Q2 FY2025 Earnings Call
…Q1 2025 (Dec quarter), driven by 8% higher average realized hashrate. Bitcoin Production: Mined 91 BTC (down from 97 in Q1 2025) due to a 14% drop in network BTC per EH generation. AI Expansion: Acquired 2MW of prefabricated SCIF-rated data center infrastructure, with strategic focus on Canadian public-sector offtake agreements. Longer-term…
CAN · Q1 FY2025 Earnings Call
…+132% YoY). Mining gross margin: 31%. Total Operational Hashrate: Increased from 4.75 EH/s (end 2024) to 5.97 EH/s by March 2025. Reached 8.15 EH/s by end of April 2025. Bitcoin Holdings: 1,408 BTC by March 31 (up from 1,293). 1,424 BTC as of April 30. ~$147 million in current market value. Gross Profit: Turned positive for the first ti…
CANG · Q1 FY2025 Earnings Call
…USD 180 million (Dec 31, 2024). Total Computing Power: 32 EH/s operational, with 18 EH/s scheduled for deployment by July, aiming to reach 50 EH/s. Bitcoin Mined: 1,541 BTC in Q1 2025; 2,944.8 BTC held as of April end, ranked 14th among public companies. Mining Efficiency: 94%, with power efficiency at 21.6 J/TH. AutoCango Platform:…
BTDR · Q1 FY2025 Earnings Call
…Operational & Strategic Highlights Self-Mining Hashrate: 11.5 EH/s at end of Q1. Forecasted Hashrate: 40 EH/s by October 2025—potential upside depending on wafer supply/allocation. New Power Capacity: 500 MW being added in Q2, raising global total to ~1.6 GW; to exceed 1.8 GW by end of 2025 with Clarington and Ethiopia. Chi…
LMFA · Q1 FY2025 Earnings Call
…operations. Operational Highlights Achieved 560 PH/s hash rate capacity at end of March 2025. Deployed LuxOS upgrades across Oklahoma fleet. Executed first power sales back to the grid; starting to operate as a flexible power producer. Ordered two 1MW immersion mining containers for Oklahoma site; construction and energizat…
IREN · Q3 FY2025 Earnings Call
…Bitcoin Mining Operations: Average hashrate: 29.4 EH/s, up 30% from 22.6 EH/s in Q2. Year-on-year hashrate up 326%, network difficulty up only 40%—IREN gaining market share. Power cost remains exceptionally low at $0.033–0.036 per kWh. Gross margin per bitcoin: ~$52,000 (Cost: $41,000 vs. Sale Price:…
KEEL · Q1 FY2025 Earnings Call
…Bitcoin Mining Business: Hashrate grew over 50% in Q1 to 19.5 EH/s. Fleet upgrades nearly complete—94% of purchased miners installed. No significant CapEx planned—focus shifting entirely to HPC infrastructure. All-in cash cost to mine Bitcoin: $72,300 vs $92,500 revenue per Bitcoin → ~$20,0…
WULF · Q1 FY2025 Earnings Call
…Energized Miner Building 5, increasing capacity to 245 MW and hash rate to 12.2 EH/s. Fleet efficiency improved to 18 J/TH. Self-mined 372 BTC in Q1 2025, down 12% from 423 BTC in Q4 2024. Value per self-mined BTC was $92,600, up from $82,739 in Q4 2024. Power pricing spike due to extreme weather increased costs—ener…
MARA · Q1 FY2025 Earnings Call
…Purchased energy cost per Bitcoin: $35,728 at $0.04/kWh Hash Rate: 54.3 EH/s in Q1 2025, up 95% from 27.8 EH/s in Q1 2024 Operational Update: Daily cost per petahash improved 25% YoY; Cost per petahash per day declined 10% sequentially Infrastructure Growth: Completed 200MW data center in Ohio (100MW operational); energized 25MW gas-to-…
CLSK · Q2 FY2025 Earnings Call
…EH via vendor options. Plans to reduce use of time-bound hash rate expansion guidance, pivoting toward flexible, ROI-driven growth metrics. High consideration for acquisition activity, with a preference for distressed miners. Awards & Recognition Ranked #35 in Financial Times’ 2025 list of 500 fastest-growing companies in the A…
HUT · Q1 FY2025 Earnings Call
…~$93,000 to ~$82,500 during Q1 2025. Fleet Upgrade: 9.3 EH/s deployed (up 79% QoQ) with improved efficiency at 20 J/TH (37% QoQ improvement). Upgrade completed despite a four-week customs delay. Strategic Development: First quarter investments of $63.3 million included completion of fleet upgrade and early-stage infrastructure projects at V…
CIFR · Q1 FY2025 Earnings Call
…Pipeline capacity: 2.8 gigawatts Q2 projected hash rate: ~16 EH/s; Q3 projected: 23.1 EH/s Key Site Developments: Black Pearl (300 MW): Phase 1 (150 MW) on track, energization expected by end of Q2. Will deploy 2.5 EH/s of legacy rigs immediately. Barber Lake: Signed JV term sheet with Fortress C…
RIOT · Q1 FY2025 Earnings Call
…90% uptime and operational efficiency despite a global network hash rate increase of 10%. Hash Rate Growth: Self-mining hash rate rose 7% to 33.7 EH/s from 31.5 EH/s last quarter. Bitcoin Holdings: Increased to 19,223 BTC, up 8% from 17,722 BTC at year-end 2024. Bitcoin per million fully diluted shares rose from 44.3% to 47.4% (7% yield).…
GRYP · Q4 FY2024 Earnings Call
…FY 2023 (decline due to 2024 Bitcoin halving and 66% network hash rate increase). Revenue: $20.5M in FY 2024 vs. $21.1M in FY 2023 (slight decline). Breakeven Cost per BTC: $47,359 in 2024 vs. $18,192 in 2023 (more than doubled, reflecting halving and hash rate pressures). Adjusted EBITDA: -$5.5M in 2…
ABTC · Q4 FY2024 Earnings Call
…people's machines or do you expect that Gryphon would run its own fleet?” Steve Gutterman: Open to both models; decision to be made based on market dynamics. Hosting potential is strong due to high demand for compute power. Kevin Dede – H.C. Wainwright: “How competitive was the process to secure Captus?” Steve Gutt…
LMFA · Q4 FY2024 Earnings Call
…liquidating holdings, with 12% interest over 2 years. Hashrate and Infrastructure Expansion: Energized hashrate reached 560 PH/s as of February 2025. Ordered 256 Bitmain S21+ miners to enhance fleet efficiency. Installed Luxor's LuxOS firmware aiming to boost efficiency by 10–15%. Marke…
KEEL · Q4 FY2024 Earnings Call
…supports 2025 expenditures. Operational Highlights Hashrate Expansion: Hashrate nearly tripled in 2024 to 18.6 EH/s with significant efficiency gains (19 watts/TH), meeting Q2 2025 target ahead of schedule. Energy Portfolio: Energized MW increased 90% to 461 MW; cost of power lowered to $0.043/kWh. Total energy pipeline rose to 1.4…
CAN · Q4 FY2024 Earnings Call
…increased to 42% (from 22% in Q3). Total installed mining hash rate reached 5.4 EH/s, 4.8 EH/s energized, with power cost averaging $0.04/kWh. By February 2025, global mining capacity grew to 6.28 EH/s installed and 5.78 EH/s energized across 7 joint projects. Bitcoin holdings grew to 1,355. New mining sites launched in Penn…
FUFU · Q4 FY2024 Earnings Call
…New innovation pipeline: Additional tools built upon the Hashrate Allocation Technology scheduled for 2025 release. Customer Acquisition: Significant increases in both returning and new customer revenue contributions to cloud mining. 2025 Objectives: Grow mining capacity to ~33 EH/s and hosting capacity to 650–…
CANG · Q4 FY2024 Earnings Call
…Cango acquired Onrack Bitcoin mining machines with 50 EH total hash rate for $400 million in November 2024. By December, 32 EH was delivered, positioning Cango as the third-largest Bitcoin miner globally. Bitcoin Mining Performance: November: 363.9 Bitcoins mined December: 569.9 Bitcoins mined Total Holdings: 933.…
DMGI.V · Q1 FY2025 Earnings Call
…YoY. Bitcoin Mined: 97 BTC, up 49% from prior quarter. Hash Rate: Reached 1.62 EH/s in Q1; currently at 1.8 EH/s and targeting 2.1 EH/s near-term and 3 EH/s by end of 2025. Fleet Efficiency: Improved to 22.9 J/TH; targeting 21 J/TH with new hydro miners. EBITDA (before other items): $2.6M (22% margin), up from -$1M in Q4 2024.…
HUT · Q4 FY2024 Earnings Call
…and CPU-based cloud services. Capex discipline through fleet upgrades and purchase options (e.g., potential path to 25 EH at 16 J/TH). Key Development: River Bend Campus 300 MW site in Louisiana with 200 MW IT load, adjacent to 1 GW nuclear and 300 MW solar plants. Features dark fiber access and potential to sca…
WULF · Q4 FY2024 Earnings Call
…versus Q3, with 423 Bitcoin mined. Mining Efficiency and Hash Rate: Achieved 9.7 EH/s hash rate by year-end with 60,000 miners. Deployment of S21 Pro miners will increase hash rate to 13.1 EH/s and improve efficiency to 18.2 J/TH. HPC Hosting Expansion: Signed 72.5MW 10-year lease with Core42, generating over $1B revenue. Additional 135MW o…
MARA · Q4 FY2024 Earnings Call
…better ROI vs CapEx-heavy mining infrastructure investments. Hash Rate: Grew installed hash rate 115% in 2024. No 2025 target disclosed, but strategy leans toward capital efficiency over aggressively scaling. Relying less on Chinese ASIC supply; partners with Auradine for custom miners (3nm tech). Capital Market Strategy: Diversified source…
CORZ · Q4 FY2024 Earnings Call
…2024; company ended the year with 16.5MW IT load online. Fleet Power Rate: Q4 average fleet-wide power rate was $0.037/kWh, better than the FY target ($0.042–0.044/kWh). Gross Margins: Self-mining: 2%, Hosting: 36%, HPC: 9%; HPC non-GAAP cash gross margin was 16%. Balance Sheet: Core significantly reduced debt ($1B to ~$0.47B) through C…
BTDR · Q4 FY2024 Earnings Call
…impacted by the April 2024 Bitcoin halving, increased network hashrate, reduced cloud mining and hosting revenues, and increased R&D costs. Gross Profit (Q4 2024): $5.1 million, down from $27 million YoY. Gross margin declined to 7.4% from 23.5% primarily due to halving and expiration of high-margin contracts. Adjusted EBITDA (Q4 2024): -$3…
CIFR · Q4 FY2024 Earnings Call
…by $24 million YoY, driven by Bitcoin price appreciation and hashrate expansion. GAAP Net Income: $18 million in Q4, compared to a net loss of $87 million in Q3. Full year GAAP net loss of $45 million in 2024, compared to a net loss of $26 million in 2023. Adjusted Net Earnings: $51 million in Q4 (▲$54M QoQ). Full year adjusted earnings of…
RIOT · Q4 FY2024 Earnings Call
…valued at $1.7 billion as of Dec 31, 2024. Production and Hash Rate: 2024 self-mining hash rate rose 154% YoY from 12.4 EH/s to 31.5 EH/s, outpacing the global network hash rate increase of 67% YoY. Despite April’s halving, Riot’s production remained stable at ~16.6 BTC/day. Bitcoin Yield Increase: Bitcoin holdings per million fully diluted…
IREN · Q2 FY2025 Earnings Call
…Operational Updates: Current Bitcoin hashrate: 31 exahash; targeting 50 exahash by mid-2025, revised target to 52 exahash (from 57) due to AI data center reallocation 31 to 52 exahash expansion to be completed within next 5 months Efficient production: 15 joules per terahash, $0.03/kWh cost in Childress site…
HIVE · Q3 FY2025 Earnings Call
…total of 300MW. Paraguay fleet to help HIVE surpass 25 EH/s hashrate by September 2025 (up from 6 EH/s currently). Efficiency Metrics: Global fleet to reach energy efficiency of 16.5 joules/terahash, becoming one of the most efficient fleets. Projected Bitcoin Revenue: Depending on Bitcoin price: At $100,000/BTC → $330M annua…
CLSK · Q1 FY2025 Earnings Call
…BTC: $34,000 (down from $36,250 in Q4 — a 6% improvement) Hashrate: Achieved 39.1 exahash by quarter end (above 37 exahash target), 40 exahash deployed by Jan 31 Fleet Efficiency: Improved from 21.94 to 17.59 joules per terahash QoQ; further down to 16.15 J/TH in January Power Cost: $0.049/kWh, slightly higher YoY and QoQ, but offset by…
NB2.DE · Q4 FY2024 Earnings Call
…and expected valuation in the range of EUR 30–90 million per exahash. Expected to release audited 2024 results by March 2025. Expansion into U.S. continues with sites in Georgia and Pittsburgh progressing well. AI hardware lifespan proving to be longer than anticipated; pricing remains stable. Analyst Q&A H…
APLD · Q2 FY2025 Earnings Call
…YoY. Cost of Revenues: $52.4M, up $22.6M YoY, reflecting energized facilities and increased services. SG&A: $29.8M, up $9.5M YoY. Depreciation & Amortization (D&A): $26.4M (vs $13.4M YoY), driven by GPU lease amortization. D&A in Cloud segment reduced by $8.5M due to transitioning from 2-year to 5-year amortization. Expect ~$15M/quarter…
DMGI.V · Q4 FY2024 Earnings Call
…to halving), 503 BTC FY vs 885 BTC in FY 2023 (down 43%) Hash Rate: Realized hash rate was 0.98 EH/s in Q4, now running at 1.7 EH/s and targeting 2.1 EH/s by early 2025 Fleet Efficiency: 24.6 J/TH in Q4 (up 4% QoQ), currently 23 J/TH, targeting 21 J/TH post hydro mining deployment Cash + Digital Currencies: $36M, down 9% QoQ, up 90% YoY…
CLSK · Q4 FY2024 Earnings Call
…Improved to 19 joules per terahash from 28.4 joules last year Hash Rate Growth: Sept 2023: 9.6 EH/s Sept 2024: 27.6 EH/s Current: 33.5 EH/s, targeting 37 EH/s by December 2024 2025 Goal: 50 EH/s Power Capacity: Increased by 425 MW to a total of 726 MW All-in Power Cost (2024): $0.046/k…
IREN · Q1 FY2025 Earnings Call
…821 BTC at avg realized price of $66K Average Operating Hash Rate: Increased to 12.1 exahash (from 9 exahash) All-in Cash Cost per Bitcoin: $35,400 (would have been $26,700 under new spot pricing strategy applied for full quarter) Electricity Costs: $28.7M (↑$4.6M QoQ) Total CapEx: $387M (including Childress expansion and GPU purcha…
ARBK · Q3 FY2024 Earnings Call
…after year-end? Additionally, how should you think of Argo's hash rate trajectory heading into next year?" Thomas Chippas: No final decision yet; options include alternative hosting or asset sale. Hash rate trajectory depends on Helios strategy and potential HPC buildout. Kevin Dede (H.C. Wainwright): "What are Argo's capital…
CAN · Q3 FY2024 Earnings Call
…decline in average Bitcoin price and a 10% increase in network hash rate. Despite pressure on miner profitability, Canaan reported strong performance. Total Revenue: $73.6 million – an increase of 121% year-over-year and exceeding the company's guidance of $73 million. Highest quarterly revenue in past five quarters. Computing Power Sales:…
BTDR · Q3 FY2024 Earnings Call
…and cloud mining revenue due to contract roll-offs from cloud hash rate customers and transition from hosting to self-mining. Self-Mining Revenue: $31.5 million, up 4.7% from Q3 2023, supported by increased average hash rate (7.8 EH/s vs. 6.1 EH/s) and higher BTC prices, partially offset by impacts from the April 2024 Bitcoin halving and increa…
LMFA · Q3 FY2024 Earnings Call
…what you have mining now, where it is and where you think your hash rate goes by the end of the year?" Answer (Richard Russell): 3,300 machines in Oklahoma (~$0.04/kWh), 800 in Kentucky (~$0.07/kWh). Additional 2,200 in warehouse planned for deployment by year-end or January. Site power capacity is 15MW; currently using 10MW. Question…
DGXX · Q3 FY2024 Earnings Call
…NYISO. Operational Highlights Operating mining hash rate: 3 EH/s. Total developed power capacity: 100 MW across three locations. Maintenance affected Q3 output: North Tonawanda power plant was under maintenance for ~two-thirds of the quarter; expected full resumption by early December 2024. Expansion and Development Roadm…
GRYP · Q3 FY2024 Earnings Call
…primarily due to the 2024 halving event and increasing global hashrate. Adjusted EBITDA: $(2.5)M vs $(4.7)M (↑47% improvement). Net Loss: $(5.9)M vs $(8.1)M (↑27% improvement). Balance Sheet as of Sept 30, 2024: Cash & Equivalents: $0.4M (↓from $0.9M at Dec 31, 2023). Bitcoin Holdings: $0.6M (↓…
HUT · Q3 FY2024 Earnings Call
…Q1 2025 Fleet Upgrade: Boosting self-mining hash rate from 5.6 EH/s to 9.3 EH/s and improving efficiency by 37%. Opportunity to reach 24 EH/s in Q2 2025 through Vega-hosted miners. Balance Sheet: Ended Q3 2024 with $649 million in cash and Bitcoin. No significant debt maturities until June 2025. CapEx Outlook:…
HIVE · Q2 FY2025 Earnings Call
…receivables/prepaids. Operational Updates Current Global Hash Rate: 5.6 EH/s as of October 2024. Upcoming Plans: Expand to 12.5 EH/s by summer 2025 (120% growth in next 9 months). Efficiency Improvements: Global fleet efficiency to improve from over 30 J/TH to 17.6 J/TH post-upgrades. Recently Ordered: 6,500 Canaan Avalon A…
KEEL · Q3 FY2024 Earnings Call
Bitfarms Q3 2024 Earnings Call Summary Hashrate Growth: Hashrate surged 83% year-to-date, reaching 11.9 EH/s, up from 6.5 EH/s at the start of 2024. Efficiency Improvements: Electrical efficiency improved from 35 watts/TH to 21 watts/TH—a 40% gain, achieving the 2024 target three months early. Strategic Acquisition: Announced acqu…
ABTC · Q3 FY2024 Earnings Call
…mined: 61 BTC vs. 176 BTC (decline due to 2024 halving and global hashrate increase). Mining revenue: $3.7M vs. $5.2M (down 29%). Breakeven cost per BTC: $59,213 vs. $21,501 (up sharply due to halving and higher network difficulty). Adjusted EBITDA: -$2.5M vs. -$4.7M (improvement of ~$2.2M). Net loss: $5.9M vs. $8.1M (reduction in l…
WULF · Q3 FY2024 Earnings Call
…more stable returns. BTC profitability is more volatile due to hash rate and market dynamics. Long-term focus on high-power compute for next 500 MW of expansion. Joe Flynn – Compass Point Research & Trading Q: "Next request for 250 MW in NYISO? Any updates on Cayuga Lake project?" A (Patrick Fleury & Paul Prager): Next request will…
MARA · Q3 FY2024 Earnings Call
…Q3 2023, despite the Bitcoin halving event and rising global hash rate. Energized Hash Rate: Grew 93% YoY to 36.9 EH/s in Q3. The energized fleet surpassed 40 EH/s after the close of Q3, moving toward a target of 50 EH/s. Cost Efficiency: Cash cost of revenue dropped 18% YoY, from $45.20 to $37.10 per petahash/day. Sequentially down 10% fro…
CORZ · Q3 FY2024 Earnings Call
…One Bitcoin: $42,351 (↑ YoY due to halving event and network hash rate increase) Bitcoin Mined: 1,115 Power Cost per kWh: $0.038 (↓ from $0.045 in Q3 2023) Strategic and Operational Updates Secured full 500 megawatts (MW) of HPC hosting contracts with CoreWeave, projected to generate $8.7 billion over 12 years Reallocated 1…
CIFR · Q3 FY2024 Earnings Call
…post-halving effects, decline in Bitcoin price, and increase in network hash rate. Bitcoin Produced: 396 BTC in Q3 (compared to 563 BTC in Q2). Net Loss: GAAP net loss of $87M in Q3 vs. $15M in Q2 and $19M YoY. Adjusted net loss of $3M, consistent with prior quarter. Power Contract Derivative Valuation: Marked down $49M in Q3 due to mil…
RIOT · Q3 FY2024 Earnings Call
…-$3.1 million in Q3 2023. Operational Highlights Hash Rate: Reached 28 EH/s by quarter-end, a 27% increase QoQ and a 159% YoY increase from 10.8 EH/s in Q3 2023. Target Update: End-of-2024 revised target hash rate is now 35 EH/s (previously 36 EH/s). The 2025 hash rate target was revised down from 56 EH/s to 46.7 EH/s mainly due to…
NB2.DE · Q3 FY2024 Earnings Call
…88%). Full year projection remains on track to reach 7.9 EH/s. Expected Q4 mining revenue: EUR 15–20 million with improved uptime. Updated 2024 Full-Year Guidance Revenue: EUR 200–240 million (unchanged). Adjusted EBITDA: EUR 50–80 million (unchanged). CapEx: >EUR 1 billion gross, 2025 and Bey…
IREN · Q4 FY2024 Earnings Call
…new entrants difficult. Supply chain bottlenecks prevent quick hash rate expansion. Follow-up (Mike Colonnese): “T21 miner performance issues—what’s the fix and delivery timeline?” Response (Daniel Roberts): Assembly/heat sink defects caused issues. Bitmain fully accepted and is replacing ~1.5 EH/s over coming…
ARBK · Q2 FY2024 Earnings Call
…Asset Sale: Sold the Mirabel facility with minimal impact on hash rate; proceeds contributed to debt repayment. Annual expense savings of $700,000. Growth Outlook Baie-Comeau Expansion: Existing 15 MW could be expanded to 23 MW, potentially increasing hash rate by 0.7 EH or 1.4 EH (if whole site is upgraded). Mining Efficiency Impr…
DMGI.V · Q3 FY2024 Earnings Call
…institution engagement. Operational Performance Realized Hashrate: 0.95 exahash (↓2% QoQ) Fleet Efficiency: Improved to 25.6 joules/terahash (↑11% QoQ) Bitcoin Mined: 87 BTC (↓42% QoQ due to April 20 halvening and 10% network difficulty increase) Expected Hashrate Goal: 1.7 exahash by Q4 2024, with further expansion to 3.0…
GRYP · Q2 FY2024 Earnings Call
…Gryphon Digital Mining Q2 2024 Earnings Call Summary Hash Rate Growth: Gryphon achieved an average self-mining hash rate of 899 PH/s in Q2 2024, a 20% increase YoY. The company’s fleet now operates at approximately 0.94 EH/s. Energy Efficiency: Improved to 28.5 joules per terahash in June 2024, setting a new energy efficiency record for…
CAN · Q2 FY2024 Earnings Call
…QoQ, supporting a strong revenue base for H2 2024. Mining Hash Rate: Reached 4.5 EH/s as of August 10, exceeding prior guidance (4.3 EH/s). Regional Market Growth: North America: 52% of machine sales; revenue increased 10x due to major sales like 6,600 A1566 units to Cipher. Middle East: 17% of machine sales; 5x sequ…
LMFA · Q2 FY2024 Earnings Call
…miners now stand at 5,900 units, measuring up to a projected hash rate capacity of 639 PH/s. Relocated miners to more cost-effective facilities and completed repositioning of 3,000 S19j Pro miners to new Oklahoma City hosting site operated by Arthur Mining. Strategic Developments Texas Acquisition: Entered LOI to acq…
HIVE · Q1 FY2025 Earnings Call
…milestone. Targeting $20M ARR by H2 FY2025 and $100M longer term. Hash Rate: ~5.5 exahash installed capacity with plans to reach 12.1 exahash through 100MW Paraguay expansion (expected Q3 FY2025). Mining Efficiency: Global fleet energy efficiency at 24.5 J/TH currently, expected to improve to 19.3 J/TH post-Paraguay expansion. Growth St…
HUT · Q2 FY2024 Earnings Call
…industry's oldest). Upgrading to 12 J/TH expected to more than 2.5x hash rate. Energized 63 MW at Salt Creek in Q2. Announced development of a 205 MW site in Texas Panhandle targeting AI or mining workloads. Secured $150M convertible note investment from Coatue to scale power portfolio development. GPU-as-a-Service vertical launches wit…
CIFR · Q2 FY2024 Earnings Call
Cipher Mining Q2 2024 Earnings Call Summary Hash Rate and Efficiency: Reached 8.7 EH/s in July 2024, with plans to scale to 13.5 EH/s by year-end through upgrades at the Odessa facility. Fleet-wide efficiency expected to improve from 28.7 J/TH to 18.6 J/TH by year-end and further to 15.3 J/TH in 2025. Future Growth: Plans to reach 35…
WULF · Q2 FY2024 Earnings Call
…Mining Expansion: Building 4 complete — total capacity exceeds 10 EH/s. Power costs projected at $0.035 per kWh for 2024. Bitmain S21 Pro Miners: Purchased 5,000 units from option; monetized remaining at $16/TH. AI/HPC Buildout: WULF Den: 2MW proof of concept with 128 NVIDIA H100 GPUs — completion by September 2024.…
KEEL · Q2 FY2024 Earnings Call
…trading. Infrastructure & Fleet Upgrade: 70% increase in hashrate QoQ. Delays in achieving 12 EH/s due to hardware issues now resolved. Efficiency improved to 25 w/TH, on track for 21 w/TH by year-end. 48% of 88,000 2024 miner orders deployed. Facility upgrades remain on schedule. New Construction Updates: Paso Pe (70 MW) – N…
CORZ · Q2 FY2024 Earnings Call
…the 2024 halving and a 68% year-over-year increase in network hash rate. However, a 28% increase in Core’s self-mining hash rate helped offset the decline. Margins: Gross profit: $39 million (up 5% YOY) Operating income: $7 million (down 31%) Adjusted EBITDA: $46 million (up 2% YOY) Gross margins: Self-min…
NB2.DE · Q2 FY2024 Earnings Call
…adds 28MW of renewable energy capacity. Mining to reach 7.9 exahash by year-end. New 300MW site acquired in Corpus Christi, Texas, and AI Accelerator initiative launched to support AI startups. Guidance & Outlook 2024 Full-Year Guidance: Revenue of EUR 200–240 million; Adjusted EBITDA of EUR 50–80 million. Q3 Expectation: Reven…
MARA · Q2 FY2024 Earnings Call
…2024. Key Operational Highlights Total Installed Hash Rate: 31.5 EH/s, up from 17.7 EH/s YoY; on target for 50 EH/s by year-end 2024. Fleet Efficiency: Improved to 23.5 J/TH; expected to improve further with S21 Pros and immersion cooling. Energy Efficiency: Software upgrades improved hosted miner efficiency from 29 J/TH to 23…
RIOT · Q2 FY2024 Earnings Call
…Riot Platforms Q2 2024 Earnings Call Summary Deployed Hash Rate: Grew 77% vs Q1 2024 from 12 EH/s to 22 EH/s. Up 106% YoY (vs 10.7 EH/s in Q2 2023). Exceeded Q2 guidance of 21 EH/s. Raised 2024 Hash Rate Target: Upped to 36 EH/s by year-end (previously 31 EH/s). Raised 2025 Hash Rate Target: Now targeting 56 EH/s by end of 2025 (up f…
DMGI.V · Q2 FY2024 Earnings Call
…deployed. Outlook & Guidance Targeting 1.7 EH/s hash rate and improved fleet efficiency of ~23 J/TH in June quarter. Exploring future growth to 2.0 EH/s and beyond depending on capital availability and ROI considerations. Expect reduction in hosting revenue and increase in non-mining OpEx, driven by Core+ expansion. Will re…
ARBK · Q1 FY2024 Earnings Call
…operational excellence, and strategic growth partnerships. Hash Rate: Total: 2.7 EH/s (dropped from 2.8 EH/s due to decommissioning older machines). Helios, TX: 2.4 EH/s (S19j Pro miners, 30–35 J/TH efficiency). Baie-Comeau, QC: ~300 PH/s (ePIC BlockMiners, 30–35 J/TH). Equipment Efficiency: Focuse…
GRYP · Q1 FY2024 Earnings Call
…increased to $0.046/kWh in Q1 2024 (up 46% YoY) Global hash rate rose 88% YoY Bitcoin price rose 131% YoY from $22,830 to $52,746 Strategic Initiatives: Targeting 10 EH/s in hash rate through accretive M&A and organic growth No binding LOIs signed yet, but evaluating 12–16 potential M&A targets…
KEEL · Q1 FY2024 Earnings Call
…Operational Highlights: Targeting 21 exahash hash rate by Q4 2024 (223% increase from current levels). Infrastructure capacity to grow to 428 megawatts, up 80% from year-end 2023. Energy efficiency expected to improve from 35 to 21 watts/terahash by end of year. VAT refund in Canada approved: $24 million refun…
CAN · Q1 FY2024 Earnings Call
…Mining Expansion: Energized computing power reached 3.0 Exahash/s by Q1 end (up 58% QoQ), boosted by Kazakhstan recovery and Africa deployment. Q2 and Q3 2024 Revenue Outlook: Company forecasts $70 million revenue for both quarters, reflecting optimism post-halving and A14/A15 sales momentum. R&D and Operational Strategy: Iterative pro…
LMFA · Q1 FY2024 Earnings Call
…April, replacing 200 older machines. Machine count similar, but hash rate increased. Kevin Dede: “The earnings press talked to a hash rate of $673, but I don't know, I may have heard $639 just make sure I have that number right, because that's what we're based our forecast on.” Bruce Rodgers & Richard Russell: Confirme…
IREN · Q3 FY2024 Earnings Call
…Answered by Daniel Roberts: Slight decline in hashrate noticed post-halving, but expects it to continue growing. Organic expansion remains the most accretive growth pathway.…
HUT · Q1 FY2024 Earnings Call
…facilities to gain cost control. Infrastructure Growth: Energized 63 MW Salt Creek site at ~$275,000/MW cost, estimated 30% cheaper than hosted facilities. 1,100 MW pipeline of expansion sites under exclusivity. Managed Services Growth: Entered 4-year $20M/year contract with Ionic Digital supporting 300 MW+ total across several sites. Trans…
WULF · Q1 FY2024 Earnings Call
…in Q1 2024, up 95% from $16.4 million in Q4 2023. EBITDA per exahash: ~$4,100. Efficiency: Cost to mine a bitcoin estimated at ~$40,000 post-halving; marginal cost in Q1 2024 was approximately $29,000. Gross Margin: GAAP gross margin at 66% (71% non-GAAP). Operating & SG&A: Operating expenses stable at $1.7 million; non-GAAP SG&A at $7.…
CLSK · Q1 FY2024 Earnings Call
…Bitcoin Production: Strong output despite increased global hashrate; growth outpaced global network Total Hashrate: Over 17 EH/s (Up from 6.7 EH/s YoY; +63% YTD) Total Machines Deployed: 134,000 (Up from 68,000 YoY) Cash & Liquidity: $681 million total liquidity, including $323 million cash and 5,021 BTC valued at $358 million Debt…
MARA · Q1 FY2024 Earnings Call
…of its infrastructure versus just 3% at the end of 2023. Hash Rate Progress: Achieved a record high operating hash rate of 27 exahash, up from 11.5 exahash a year ago. Targeting 50 exahash by year-end 2024 (previously 35-37 exahash), supported by recent acquisitions and new miners arriving in Q3. Launch of New Products & Services:…
CLSK · Q2 FY2024 Earnings Call
…100% of its production, highlighting its HODL strategy. Hashrate and Fleet: Operating capacity increased 63% in Q2, reaching 16.7 EH/s, compared to 10.1 EH/s in Q1. Year-over-year growth from 6.7 EH/s in Q2 2023 (150%+ annual growth). Current total capacity over 17 EH/s; 134,000 machines deployed. Upgraded…
CORZ · Q1 FY2024 Earnings Call
…signed. 2024 Guidance Highlights Hashrate Target: 21.8 EH/s for self-mining by year-end Average Power Cost: $0.045–$0.047 per kWh expected for 2024 Tax Rate: 23% effective statutory rate NOL Carryforwards: Over $300 million CapEx: $4.5 million additional for Austin HPC center; 72 MW Denton expansion…
CIFR · Q1 FY2024 Earnings Call
…1,351 BTC mined through April 30, 2024. Self-mining hash rate increased to 7.7 EH/s. Odessa Data Center remains the flagship operation, producing roughly 90% of BTC output with 6.7 EH/s. Alborz site (powered 100% by wind) currently at 40 MW, expected to improve from 75% to 95% uptime with grid connection in Q2. Bear…
SDIG · Q1 FY2024 Earnings Call
…MW of fully energized data center capacity. Installed hash rate capacity of 4.1 EH/s, with potential expansion to over 7 EH/s through fleet high-grading. Energy Operations: Panther Creek achieved net cost of power under $40/MWh. Scrubgrass economically shut down during periods of low prices; power impo…
RIOT · Q1 FY2024 Earnings Call
…of March 31, 2024, up from 794 BTC as of March 31, 2023. Hash Rate: 12.4 EH/s as of Q1 2024 (up 18% YoY). Riot expects to reach 31 EH/s by YE 2024 and is targeting 100 EH/s long-term via Corsicana expansion and MicroBT orders. Bitcoin Mining Segment Revenue: $74.6 million (+$26.6 million YoY). Bitcoin Mining Margin: 45% GAAP; 52% non-GA…
ARBK · Q4 FY2023 Earnings Call
…reduce costs and streamline operations with minimal impact on hash rate. [Q&A Chat]: “Can you talk a little bit more about the power price you achieved in Texas?” Answer (Jim MacCallum): Achieved just under $0.05/kWh across all sites, largely due to $7.2M in economic curtailment incentives and smart energy mana…
GRYP · Q4 FY2023 Earnings Call
…Call Summary Operational Highlights Self-mining hash rate reached 0.9 exahash by end of 2023, up from 0.6 exahash at end of 2022. Aim to scale to 10 exahash through a combination of M&A and procurement of new mining equipment. Operated ~9,000 machines on 28 megawatts of 100% renewable energy. Published a full carbon emission…
LMFA · Q4 FY2023 Earnings Call
…Mining fleet at year-end: ~5,900 machines, 614 PH/s hash rate Expected hash rate increase to 674 PH/s with 300 new BITMAIN S21 Antminer units (each 200 TH/s) Strategic Investments: $1.1 million invested in S21 machines to enhance mining efficiency before halving event Symbiont blockchain platfo…
HUT · Q4 FY2023 Earnings Call
…Vafi (Canaccord Genuity): "Do you expect reduction in hash rate due to halving and miner efficiency differences?" Asher Genoot (CEO): We're proactively relocating miners, underclocking inefficient units, and using dynamic energy pricing to stay profitable. Our core strategy is mining profitably and maximizing rack space yield.…
WULF · Q4 FY2023 Earnings Call
…Key Operational Highlights Self-Mining Capacity: 8 exahash/second (EH/s) as of February 2024, up more than 3x year-over-year. Bitcoin Mined: Q4 2023: 971 BTC (vs. 994 in Q3; −2%) Full Year 2023: 3,407 BTC (2,168 from Lake Mariner and 1,239 from Nautilus) Mining Cost: Q4 Power Cost p…
CORZ · Q4 FY2023 Earnings Call
…than any other public North American miner. Self-mining Hash Rate: 16.9 exahash at year-end 2023, 25.2 exahash as of February 29, 2024. Hosting hash rate of 6.3 exahash. Fleet Energy Efficiency: 26.79 joules/terahash as of February 2024, improved from 27.94 J/TH at end of 2023. More S21 deliveries to further improve performance. Power C…
KEEL · Q4 FY2023 Earnings Call
…Lucas Pipes): “Can you talk more about outperformance of T21 hash rate?” Response by Ben Gagnon (CMO): T21s performing 235–241 TH in high energy mode, outperforming manufacturer specs. Lower cost per TH and high efficiency offers fast ROI. Fedor Shabalin (B. Riley): “Cadence of additional capital raises in 2024?” Respon…
SDIG · Q4 FY2023 Earnings Call
…Digital Mining Q4 & Full-Year 2023 Earnings Call Summary Hashrate Achievement: Surpassed 4.1 exahash ("EH/s") across 40,000 miners. The company sees potential to scale beyond 7 EH/s by replacing less efficient equipment with newer machines like the Bitmain S21, highlighting a capital-efficient growth opportunity. Revenue & Profitability…
CIFR · Q4 FY2023 Earnings Call
…Odessa ($0.027/kWh). Mining Capacity: Total self-mining hash rate has reached 7.4 EH/s. Expected to reach 9.3 EH/s by end of Q3 2024 through Bear/Chief expansion and rig optimization. Future Outlook: Black Pearl development (300 MW site) has commenced, with energization slated for Q2 2025. Target is to increase to 25.1 EH/s by 1H 2025.…
MARA · Q4 FY2023 Earnings Call
…Dobson (Chardan Capital): “What decline do you expect in global hash rate post-halving? Can it be offset by new large-scale miners?” Fred Thiel: Estimates 11%–18% of hash rate may come offline post-halving (machines above 30 J/TH struggle). But offset by new industrial-scale miners and sovereign entities ramping up.
CAN · Q4 FY2023 Earnings Call
…fully deployed by end of March…[and] what’s the self-mining hash rate growth expectation?” Answer (CEO Zhang & CFO Cheng): Energized hash rate reached 2.8 EH/s by Q1 2024. Remaining 2.1 EH/s will be deployed in Q1–Q2. Focus now on longer-term growth and regulated regions. Question 2: “Details on A15 next-gen machine? Process geometry? Time…
IREN · Q2 FY2024 Earnings Call
…a $6.4 million loss in H1 FY23, driven by a 167% increase in hashrate (from 2.1 EH to 5.6 EH) and a 62% increase in average Bitcoin price realized ($32,300). Bitcoin Mining Highlights: 2,367 Bitcoin mined (up 57%), despite a 6% quarter-over-quarter decline in BTC mined due to higher network hashrate. Electricity cost per…
HIVE · Q3 FY2024 Earnings Call
…Production: 830 BTC mined, maintaining 1% of the global network hash rate (approx. 9 BTC/day), a 4% increase QoQ despite 19% rise in network difficulty. Cash & Crypto Holdings: $17.8 million in cash and $71.9 million in crypto (mostly Bitcoin) as of December 31, 2023. Total Q3 2024 Bitcoin holdings (HODL): 1,704 BTC; increased to ~1,974 BTC…
CLSK · Q4 FY2023 Earnings Call
…(including ~$70 million cash and ~$100 million Bitcoin) Hashrate: Surpassed 10 EH/s; aiming to exceed 20 EH/s after full deployment of S21s in 2024 Fleet Efficiency: 26.4 J/TH currently; expected to improve to 25.2 J/TH and eventually under 24 J/TH post S21 installation Expansion Projects: Sandersville: 150 MW expansion n…
CAN · Q3 FY2023 Earnings Call
…Question: "How much computing power are you generating with your 4 exahash deployed, and how much more do you plan to deploy?" Answer (Nangeng Zhang, CEO): Currently 4 EH/s deployed; further expansions in South America, Africa, Middle East. Kazakhstan mining resumption planned by end of year pending license-based equipment registration.…
LMFA · Q3 FY2023 Earnings Call
…$35,000–$37,000. Active mining fleet: 5,900 machines with 614 PH/s hashrate across various facilities. Installed Braiins OS+ on 1,000 machines, potentially increasing their hashrate by up to 25% and eliminating pool fees when using Braiins’ own pool. Adopting an infrastructure-light mining model focused on capital-efficient investment i…
ARBK · Q3 FY2023 Earnings Call
…compared to Q2; overall reduction of >70% since H2 2022. Hashrate Capacity: Increased to 2.8 EH/s after deploying 2,700 ePIC BlockMiners in Quebec, adding 300 PH/s. Operational & Strategic Highlights Flexible Load Management: Curtailment strategy in Texas allows monetization of high power prices and efficient grid response, contrib…
HIVE · Q2 FY2024 Earnings Call
…transcription (e.g., Whisper). Hashrate Expansion: Company hash rate expanded by 80% YoY. Targeting 6 EH/s during the next year (currently at 4.3 EH/s). Capex Strategy: 29,000 new-generation ASICs acquired in past 12 months, including 8,900 combined S19K Pros and XPs in last 6 months. Strategic procurement with minimal dilution (~5%). C…
HUT · Q3 FY2023 Earnings Call
…the playbook after merger with USBTC. How do you plan to ramp exahash and strategy post-closing?” A (Jaime Leverton): Strategic focus remains on diversified revenue including managed infrastructure, hosting, and growth of data centers. Transaction close by Nov 30. Refers analysts to company’s deal deck and emphasizes synergy of Canad…
WULF · Q3 FY2023 Earnings Call
TeraWulf Inc. Q3 2023 Earnings Call Summary Hash Rate and Capacity Expansion: TeraWulf reported a total self-mining hash rate of 5.5 EH/s as of September 30, 2023—more than triple the EH/s from the same period last year. The company's infrastructure expansion is on track, with a third building at Lake Mariner nearing completion. This 43 M…
MARA · Q3 FY2023 Earnings Call
…million to fund growth projects. Operational Progress Hash Rate: Energized hash rate grew 8% from Q2, ending Q3 at 19.1 EH/s; Goal is 26 EH/s by end of 2023 and ~30% growth targeted for 2024. Uptime Improvement: Increased 20% in McCamey, TX site despite 84% more curtailment hours vs. Q2. International Growth: Abu Dhabi site ful…
CIFR · Q3 FY2023 Earnings Call
Cipher Mining Q3 2023 Earnings Summary Hashrate and Production Growth: Cipher reached 7.2 EH/s of self-mining capacity with all four data centers operational. With new rig acquisitions, total capacity under contract now stands at 8.4 EH/s. By end of 2025, anticipated growth may bring capacity to 23.5 EH/s. Odessa Facility: Odessa, Cip…
KEEL · Q3 FY2023 Earnings Call
…and 1,515 BTC in Q3 2022 due to higher network difficulty. Hashrate Growth: Increased to 6.1 EH/s by September 30 (up 15% from June 30, and 45% YoY); reached 6.3 EH/s in October. Adjusted EBITDA: $7M in Q3, down slightly from $8M in Q2; equates to profit per BTC of $5,900 (vs. $6,300 in Q2). Production Costs: Q3 direct cost per BTC: $16…
APLD · Q1 FY2024 Earnings Call
…contributing to results. Garden City (220 MW) expected to be energized by October 23, 2023, leading to 500 MW in total hosting capacity. Annual revenue guidance for hosting: ~$300 million in revenue and $100 million in EBITDA once all facilities are online. AI Cloud Services: First GPU cluster activate…
IREN · Q3 FY2023 Earnings Call
…600MW of scalable power at Childress, TX — targeting up to 30 exahash (EH/s) mining capacity from the current 5.6 EH/s. A.I. Expansion: Purchased 250 NVIDIA H100 chips for generative AI computing. Anticipated launch later in 2023 or early 2024. Engaged in multiple customer conversations. Lowest Power Costs in Sector: Achieved average electr…
DMGI.V · Q3 FY2023 Earnings Call
…Bitcoin Mined: 196 BTC, down 26% from 265 in Q2 2023. Realized Hash Rate: 0.8 exahash (Q2: approx. 0.89 exahash), a 10% decrease. Bitcoin Revenue: Slightly decreased to $7.5M (Q2: $7.6M, -2%). Self-Mining Revenue: $7.5M, a 4% sequential drop due to lower BTC production offset by a 29% rise in BTC price. Hosting Revenue: $0.3M, decli…
CAN · Q2 FY2023 Earnings Call
…commitment. “Can you talk to what you expect your self-mining hash rate to be through the September quarter and what your investment thinking is regarding Canaan self-hash rate for the balance of the year?” James Jin Cheng (CFO): Of 4.9 EH/s, 3 EH/s temporarily offline (2 EH/s in Kazakhstan, 1 EH/s in U.S.). Stronghold accounts for…
LMFA · Q2 FY2023 Earnings Call
…Braiins OS+ on 360 machines, expecting up to 25% increase in hashrate for those units and potential for pool fee savings. Acquisitions: Completed a $2.6 million stalking horse bid to acquire Symbiont.io, including its Assembly blockchain platform targeting financial services. In active discussions with partne…
WULF · Q2 FY2023 Earnings Call
…and Q2 2022. Operational Highlights Achieved 5.5 EH/s and 160 MW of operating power capacity by end of Q2 2023. Deployed 50 MW of zero-carbon capacity at the Nautilus facility and another 50 MW at the Lake Mariner facility. Announced expansion including purchase of 18,500 S19j XP miners to further enhance fleet efficiency to 25…
SDIG · Q2 FY2023 Earnings Call
…1% increase from Q1 2023, despite a growing Bitcoin network hash rate (+39% YoY and +23% QoQ). Adjusted EBITDA: $(2.6) million compared to Q4 2022's EBITDA loss of $(6.2) million, a notable improvement. Net Loss: $(11.7) million, widening from Q1 net loss of $(10.4) million. Power Business: Sold $0.7…
HIVE · Q1 FY2024 Earnings Call
…capital remains strong. Operational Highlights High Hashrate Utilization: Averaging 3.46 EH/s in July 2023, closing at 3.64 EH/s by month-end. Targeting 6 EH/s by year-end. ASIC Acquisition: Purchased over 11,000 ASICs YTD in 2023. Notably efficient purchases with close to 1-year ROI targets. 2,000 new S19 XP units acquired on imme…
CLSK · Q3 FY2023 Earnings Call
…Mined: Over 5,600 BTC mined FYTD through July 2023 Fleet Hash Rate: Operating over 9 EH/s; targeting 16 EH/s by year-end (currently fully funded) Machine Fleet: ~90,000 deployed machines; 60,000 pending delivery — fully funded for 150,000 total Fleet Efficiency: Currently ~29 J/TH, with expectations to improve to 25 J/TH when new hardwa…
MARA · Q2 FY2023 Earnings Call
…Marathon Digital Holdings - Q2 2023 Earnings Summary Hash Rate Expansion: Marathon increased its operational hash rate by 54% in Q2 2023, growing from 11.5 exahashes on April 1 to 17.7 exahashes on June 30. As of the latest update, operational hash rate is approximately 19 exahashes. The company has installed its full fleet to reach 23 exaha…
KEEL · Q2 FY2023 Earnings Call
…full repayment by Feb 2024 Mining Capacity: Hash rate: 5.3 EH/s at end of Q2 (up 10% QoQ, 47% YoY) Target: 6.3 EH/s by Q3 2023 end; 7 EH/s by Q1 2024 Future potential: up to 7.8 EH/s if 30MW in Paraguay is developed Operational Highlights Paraguay Expansion: Acquired 150 MW…
CIFR · Q2 FY2023 Earnings Call
…increase from 0 in Q2 2022 as Odessa was not yet operational. Hash Rate: 6.8 EH/s as of Q2 end, targeting 7.2 EH/s by end of Q3 2023 and 8.7 EH/s with near-term expansions. Net Loss (GAAP): $12.7 million or $0.05 per share in Q2 2023 vs. $29.2 million or $0.12 per share in Q2 2022. Non-GAAP Net Income: $7.3 million or $0.04 per share, c…
APLD · Q4 FY2023 Earnings Call
…All three crypto hosting sites in North Dakota are now fully energized with 280 megawatts capacity, generating contracted revenue with steady cash flow. AI Cloud Expansion: Launched AI cloud services beginning with 9-megawatt HPC facility in Jamestown, serving customers like Character.AI and a second unnamed AI firm. Major Contracts:…
DMGI.V · Q2 FY2023 Earnings Call
…vs. 60% sold in prior quarter. Mining Capacity: Achieved a hash rate of 0.89 EH/s. With new miner acquisitions totaling 1,550 units (188 PH/s), installed hash rate expected to rise to 1.2 EH/s. New Miner Purchases: Purchased 350 Bitmain S19 Pro, 350 Bitmain S19 XP, and 850 S19j Pro+ miners. Exploring next-gen immersion-specific equipment op…
CAN · Q1 FY2023 Earnings Call
…"I was wondering, if you might be able to offer a self-mining hash rate target for the year maybe disclose a little bit on what you're seeing in terms of the availability of hosting sites? And then secondly, I was hoping you could share a little more geographic information on equipment sales." Answer (Nangeng Zhang): Target install…
MIGI · Q1 FY2023 Earnings Call
…facility (12MW) and next 70MW at Midland. Aim to reach 7.2 Exahash by end of 2023 and 10 Exahash in 2024. Currently operating at 1.7 Exahash, generating approx. $124,000/day or ~$45M/year at current BTC prices. Operational uptime at 92%, with remaining time monetized via energy market curtailments. Operations powered entirely by car…
KEEL · Q1 FY2023 Earnings Call
Bitfarms Q1 2023 Earnings Summary Hashrate Growth: Achieved a hashrate of 4.8 EH/s by March 31, 2023—a 7% QoQ increase (from 4.5 EH/s at year-end 2022) and a 78% YoY increase. Reached 5.0 EH/s post-quarter. Bitcoin Production: Mined 1,297 BTC in Q1 2023, up 35% YoY (vs. 961 BTC in Q1 2022), but down 10% QoQ (from 1,434 BTC in Q4 2022)…
LMFA · Q1 FY2023 Earnings Call
…continued acquisition of high-efficiency machines. Positioning fleet for profitability post-2024 bitcoin halving event. Company intends to reinvest mining revenues into more hardware without taking on debt. Intensified effort to broaden investor relations and close the gap between stock price and book value. Analyst Q&A Ana…
CIFR · Q1 FY2023 Earnings Call
…BTC YTD at Odessa and 320 BTC YTD at Alborz. Self-mining Hashrate: 6 EH/s as of Q1 (vs. 0 EH/s in Q1 2022). Forecast to reach 7.2 EH/s by end of Q3 and potentially 8.2 EH/s by end of FY 2023. Rig Fleet: Over 59,000 mining rigs in operation. Purchase of 11,000 new rigs will boost this to over 70,000. CapEx Strategy: CapEx for Odessa expa…
CLSK · Q2 FY2023 Earnings Call
…debt now $17.6 million. Growth & Expansion Updates Hash Rate: 6.7 EH/s as of quarter end; target 16 EH/s by year-end 2023 remains on track. New Equipment Orders: 20,000 Bitmain S19 J Pro+ and 45,000 Bitmain XPs secured (~99% of required fleet). These add 8.74 EH/s, bringing capacity to 15.9 EH/s, with only 100 PH/s still needed to…
SDIG · Q1 FY2023 Earnings Call
…million to $71 million. Operational Highlights Hash Rate: Currently at 2.8 EH/s, up from 1.4 EH/s post August 2022 miner return. Expected to reach 4 EH/s by Q3 2023. Data Center Capacity: Scaling from current 95 MW to 130 MW by end of Q3 2023. Miner Acquisitions: 22,000 miners (2.2 EH) procured for $15 million si…
MARA · Q1 FY2023 Earnings Call
…record 2,195 bitcoins in Q1, a 41% increase from Q4 2022. Hash Rate Growth: Operational hash rate increased by 64% during Q1, from 7 EH/s at the start of January to 11.5 EH/s by the end of March. As of early Q2 (April), operational hash rate reached 14 EH/s; installed hash rate stands at 18 EH/s – 80% of the goal. Target: Company remains on…
APLD · Q3 FY2023 Earnings Call
…years left. Halving impact depends on BTC price and network hash rate, but efficiency and top-tier equipment provide resilience. Q2: "HPC competitiveness – outlook?" A (Wes Cummins): Significant demand for HPC. Traditional data centers lack the power/cooling for AI workloads. Applied Digital’s designs, climate advantages, and energy strateg…
WULF · Q4 FY2022 Earnings Call
…Stifel: Q: "Hoping to gain some outlook on network hash rate and broader outlook for mining economics...? Any general commentary?" A: (Kerri Langlais) – Hash rate expected to rise leading to halving. BTC price historically offsets halving effects. Low-cost operations critical in navigating cycles. A: (Patrick Fleu…
SDIG · Q4 FY2022 Earnings Call
…Mined: Over 2,000 Bitcoin in 2022; ~450 mined in Q4 alone. Hash Rate Capacity: 2.6 exahash currently, with plans to reach 4 exahash by end of 2023. Adjusted EBITDA: $5.2 million in Q4, compared to $0.3 million in Q4 2021 and negative $3 million in Q3 2022. Debt Reduction: Cut total debt from $150 million to $60 million (~60% reduction s…
MIGI · Q4 FY2022 Earnings Call
…million Operational Metrics: Exahash Rate: Averaged 0.8 EH in 2022; peak of 1.63 EH in June 2022 Midland, PA Facility: Phase 1 completed for 120 MW; commissioning ongoing Sharon, PA Facility: 120 MW facility with first 12 MW fully funded Strategic Activities: Exited Austr…
KEEL · Q4 FY2022 Earnings Call
…million to $32 million. Operational Highlights Hashrate reached 4.7 EH/s as of end February 2023, more than doubled from prior year. All-in quarterly cash cost of production remained below average Bitcoin price of $18,100. Direct cost per BTC mined in Q4 2022: ~$11,100 (vs $9,600 in Q3). Total cash cost (operation + G&A): $…
CIFR · Q4 FY2022 Earnings Call
…date Key Operational Highlights Total self-mining hash rate of 5.2 EH/s as of February 2023, heading toward 6.0 EH/s target 59,000 machines purchased and paid for; 48,000 energized with 11,000 more pending activation Bitcoin produced: Over 15.5 BTC/day capacity as of February 2023 Bitcoin reserve: 465 BTC Unit power cos…
CAN · Q4 FY2022 Earnings Call
…Holdings: 757 BTC, up 41% from 535 BTC in Q3 2022. Installed Hash Rate: 3.3 EH/s at end of Q4; 3.8 EH/s as of February 28, 2023. Targeting 5–5.5 EH/s by end of Q1 2023. Cash Position: RMB 707.3 million, down from prior quarter due to investments in wafer prepayments, taxes, and R&D. Share Buyback: Repurchased 3.5 million ADSs (~USD 10.5…
HIVE · Q3 FY2023 Earnings Call
…Infrastructure: 147 MW built capacity, 2.8 EH/s current hash rate, targeting 3.25 EH/s in March 2023 Key Strategic Moves: First public company to deploy own ASIC mining rig: HIVE BuzzMiner (co-developed with Intel) Purchased over 3,500 S19j Pros at favorable prices (~90% lower than peak) Pilot project launched…
IREN · Q2 FY2023 Earnings Call
…bitcoins from 780 bitcoins in Q1, attributed to increasing global hash rate and greater network difficulty. Revenue: Q2 Bitcoin mining revenue was $13.8 million (down from $16.2 million in Q1). Operating Costs: Increased from $14.6 million in Q1 to $16.7 million in Q2, primarily due to higher electricity and operational costs from n…
CLSK · Q1 FY2023 Earnings Call
…FY2022. Quarter-over-quarter (QoQ) increase of 25%. Network Hashrate: Began Q1 with 4.2 EH/s, increased by 48% to 6.2 EH/s by quarter end. As of the call, hashrate at 6.6 EH/s. Machines Running: 63,700 miners active as of December 31, 2022. Energy Efficiency: Fleet operated at 31W per terahash, better than peers (>40W/TH). Immersion-coo…
APLD · Q2 FY2023 Earnings Call
…would we see?” Also, what is preventing Garden City from being energized? Answer (Wes Cummins): Garden City is fully built with miners being installed; approvals received; minor utility technical finalizations pending. Ellendale has buildings erected and is waiting for utility substation work. Both expected to be energized by Q3 end.…
CLSK · Q4 FY2022 Earnings Call
…Adjusted EBITDA: $65.7 million for FY2022, up 500% YoY. Hash Rate: Ended FY2022 at 4.16 EH/s, a 312% YoY increase; reached 5.8 EH/s as of call date and expects 6 EH/s by year-end 2022. Mining Operations: Currently operating 4 owned & operated sites using 140 MW; expanded footprint through acquisitions (Washington and Sandersville). Oper…
LMFA · Q3 FY2022 Earnings Call
…Bitcoin Mining Progress: 1,200 machines (120 petahash capacity) electrified and actively mining Bitcoin as of November 15, 2022. Targeting 2,700 machines electrified by year-end 2022, achieving ~270 petahash capacity. Total miners currently owned: 5,646 machines; once all are online, capacity expected to reach ~570 pe…
MIGI · Q3 FY2022 Earnings Call
…Bitcoin levels right now? Is there any risk to achieving your hash rate targets?” Response (James Manning): Confident in achieving targets given robust power contracts and profitability even at $15K BTC levels. Infrastructure build is a major focus, with hardware acquisition decisions made based on market conditions. “…
HIVE · Q2 FY2023 Earnings Call
…the Ethereum merge (Proof of Work to Proof of Stake). ASIC Hashrate: Increased from 2.25 exahash to 2.45 exahash in the quarter. Combined Hashrate: Reached 2.8 exahash with repurposed GPUs. Gross Mining Margin: $15.9 million or 54% compared to $46 million or 86% in Q2 FY2022. Loss Per Share: $0.45 compared to income per share of $0.…
KEEL · Q3 FY2022 Earnings Call
…production added another 487 BTC. Hasrate Growth: Increased hashrate to 4.4 EH/s at end of Q3 2022, up 17% from Q2. Year-to-date, hashrate had doubled from beginning of 2022. Revenue: $33 million in Q3 2022, down from $42 million in Q2 2022 (reflecting a 35% drop in average Bitcoin price offsetting higher production). Adjusted EBITDA: $…
CIFR · Q3 FY2022 Earnings Call
…electricity when financially advantageous. Potential to expand hash rate through opportunistic acquisitions or market dynamics. Analyst Q&A Analyst: Mike Colonnese, H. C. Wainwright Question: “How should we think about your strategy for purchasing additional mining rigs to fill out the remaining 44 megs of inf…
SDIG · Q3 FY2022 Earnings Call
…567 BTC mined in Q3, an 11% sequential decrease due to reduced hash rate and higher network difficulty. Adjusted EBITDA: -$3 million, worsening from -$1 million in Q2 2022 and flat EBITDA a year ago. Debt Reduction: Successfully eliminated $67 million of debt by returning ~26,000 miners to NYDIG lenders. Credit Facility: Closed new agre…
MARA · Q3 FY2022 Earnings Call
…(King Mountain wind farm) and others have increased operational hash rate. Hash rate grew from 0.7 EH/s on July 1 to 3.8 EH/s by Sept 30, and then to 7.0 EH/s by Nov 1 — nearly a 10x increase quarter-over-quarter. Bitcoins mined increased significantly: July: 72 BTC August: 184 BTC Sep…
APLD · Q1 FY2023 Earnings Call
…once started. “Without delays, when would Texas have been energized?” Response (Wes Cummins): Between now and November. Delay would result in full ramp instead of staged energization (12.5 MW/week). "Too early to talk about site #4?" Response (Wes Cummins): Yes, still evaluating market including distressed assets. Focused…
IREN · Q4 FY2022 Earnings Call
…from $1.4 million and 18% margin in FY2021. Achieved 3.7 exahash capacity by end of September 2022, up from 0.7 exahash about a year ago. Goal to reach 4.7 exahash by end of calendar Q4 2022; 6 exahash capacity targeted using secured hardware from Bitmain. No corporate debt; $110 million in cash on balance sheet as of June 30, 2022.…
APLD · Q4 FY2022 Earnings Call
…now. So are we still on track?" A: Wes: Facility was re-energized last week, ahead of schedule. Lucas Pipes, B. Riley Securities Q: "Opportunities of non-Bitcoin mining… how big would you size this up initially?" A: Wes: Testing up to 20MW expansion; in talks with a major potential HPC customer that could anchor shift to broade…
MIGI · Q2 FY2022 Earnings Call
…Texas expansion. “What hardware/setup is used for exahash to megawatt conversion?” Answer (James Manning): Based on approx. 3,400W per machine, mainly using MicroBT and Canaan miners with 90-100 TH output. “Any plans or thoughts on immersion mining strategy?” Answer (James Manning): Actively evaluating for Te…
LMFA · Q2 FY2022 Earnings Call
…scale up to over 5,000 by Q4 2022, equating to a projected 504 petahash in hash power. Rebate Credits: Due to the decline in bitcoin prices, LM Funding has received over $2 million in rebate credits for mining machine purchases, improving expected ROI significantly. Bitcoin Production Potential: Once all current mining machines are operatio…
HIVE · Q1 FY2023 Earnings Call
…increase from 14.7 BTC Q1 avg). Operational Highlights Hashrate: Increased BTC hashrate by 13%, Ethereum hashrate by 3% compared to March 2022. Hashrate Growth Target: On track to reach 4.6 Exahash by December 2022. Infrastructure Capacity: Currently operating 130MW globally, with 144MW completed and 14MW for upcoming ASIC depl…
SDIG · Q2 FY2022 Earnings Call
…miners divested; revenue impact minimal (~$9M). Remaining 1.4 EH/s capacity to operate at ~90% utilization. Power generation assets allow rapid toggling between power sales and mining. Maintenance-related downtime at both Scrubgrass and Panther Creek plants planned in September (2 weeks each), with $5M added O&M cost in Q3.…
GREE · Q2 FY2022 Earnings Call
…Production: 621 BTC mined, nearly 100% more than Q2 2021. Hashrate Average: Increased 200% YoY. Adjusted EBITDA: $2.9M, down from $8.1M in Q2 2021. Margin declined to 9.2% from 49.9% due to lower BTC prices and rising power costs. Liquidity Position (as of June 30, 2022): $67M in cash and bitcoin fair value. $92M…
KEEL · Q2 FY2022 Earnings Call
…in Q2. Operations: Increased hash rate by 33% to 3.6 EH/s (now 3.9 EH/s, nearly 4 EH/s achieved post Q2). Expanded capacity to 166 MW (up from 137 MW in Q1). Targeting 229 MW by year-end 2022. Installed 10,300 miners in Q2; total active fleet now 44,000+ miners. July: 500 BTC mined with 135 BTC…
CIFR · Q2 FY2022 Earnings Call
…a 40 MW wind-powered facility capable of producing up to 1.3 EH/s and generating 5.7 BTC/day in favorable conditions. Additional centers (Bear, Chief, Odessa) are nearing completion or under construction, targeting a total deployment of 6.9 EH/s by early 2023 with 265 MW capacity. Strategic Power Contracts: Secured 5-year power purchase agreeme…
CORZ · Q2 FY2022 Earnings Call
…targeting 20%–30% EBITDA margins. Expecting self-mining hash rate of 30-32 EH/s and 1GW power capacity by year-end 2022. Balance Sheet & Liquidity Total Debt: ~$960 million. Convertible Notes: $500+ million due 2025; low interest burden with no early principal amortization. B. Riley Loan: $57 million remains (originally $75…
CLSK · Q3 FY2022 Earnings Call
…the previous quarter and a 400% increase year-over-year. Hash Rate Growth: Increased from 2.3 EH/s to 2.9 EH/s during Q3 (26% growth). Compared to ~1 EH/s same time last year. Revenue and Profit: Revenues for Q3 were nearly $31 million, up 244% YoY (from $9M), but down 17% from Q2 due to lower Bitcoin prices. Gross profit tripled YoY to ~$2…
MARA · Q2 FY2022 Earnings Call
…hosting arrangements now support Marathon’s 2023 target of 23.3 EH/s. Fleet Upgrades and Strategy: Marathon purchased 30,000 new, energy-efficient S19 XPs to enhance fleet with 66% adoption expected. Plans include replacing older machines and selling Harden facility’s miners. Hosting Agreements: New 200MW agreement with Applied Blockchain,…
SDIG · Q1 FY2022 Earnings Call
…438 BTC in Q1 2022, with 250 BTC mined through May 13 in Q2; hash rate averaged just under 1 EH/s in Q1 (in line with prior guidance) and rose to ~3 EH/s by May 12. Hash Rate Guidance: On track to hit 4.2 EH/s by year-end 2022 (excluding future MinerVa deliveries). 2.3 EH/s of the 3 EH/s capacity currently operational, with upgrades and miner i…
KEEL · Q1 FY2022 Earnings Call
…2021 ($28.2 million), mainly due to growth in the company’s hash rate outpacing Bitcoin network difficulty despite lower Bitcoin prices. Bitcoin Mined: 961 BTC in Q1 2022 at a direct production cost of $8,700 per BTC, maintaining one of the lowest cost structures in the industry. Gross Mining Profit: $30 million in Q1 2022, up from $22 mill…
MIGI · Q1 FY2022 Earnings Call
…Kevin Dede (H.C. Wainwright): “What was the hash rate at the end of the March quarter? Was that the 1.8 number or is the 1.8 number, the current number?” Answer (James Manning & Nick Hughes-Jones): 1.2 EH/s average in March, 1.35 EH/s at the end of March, rising to 1.8 EH/s at the end of May. Kevin Dede:…
CORZ · Q1 FY2022 Earnings Call
…Over 10,000 self-mined Bitcoins held as of April 30, 2022. Hash Rate: Increased from 13.5 exahash (end of 2021) to 16.2 exahash by end of Q1 2022; grew further to 17 exahash in April. Segment Revenue Breakdown: Digital Asset Mining: $133 million (69%) Hosting: $33.2 million (17%) – up 162% YoY Equipment Sales:…
IREN · Q3 FY2022 Earnings Call
…Bitcoin Mined: 357 BTC (up 449% year-over-year) Operating Hash Rate: Increased 686% YoY due to new site activations Cash and Equivalents: $158 million Total Assets: $557 million CapEx Invested To-Date: Over $400 million; ~$400 million remaining to reach full 15 EH/s capacity Operational Highlights Current Operational Ca…
CLSK · Q2 FY2022 Earnings Call
…Line of sight on 600MW of power, enough to support up to 20 EH/s. Financing: Secured $35M non-dilutive financing from Trinity Capital post quarter-end. Employee Compensation: Raised wages for mining techs above industry norms and launched equity participation programs. Norcross Facility: Progressing towards 100% operational status with…
CIFR · Q1 FY2022 Earnings Call
…operations in February 2022 at its Alborz data center. Increased Hash Rate Forecast: The company boosted its projected operational hash rate to 7.5 EH/s by early 2023, up from previous estimates due to an improved mix of more efficient machines under contract with MicroBT. Machine Efficiency & Cost: Average machine efficiency on order now s…
MARA · Q1 FY2022 Earnings Call
…Scale-Up: From 12,000 to 37,000 installed miners YoY, expanding hash rate more than 3x. Employee count increased from 4 to 15. CapEx & Investments: Spent $192.4 million in miner server deposits, $6.5 million in property, plant & equipment, and $6.3 million in co-host infrastructure. Cash Balance: $118.5 million; down from $268.5 million in…
SDIG · Q4 FY2021 Earnings Call
…conditions. Current Mining Capacity: 2.3 EH/s operational hash rate, with up to 5.5 EH/s contracted. Excluding MinerVa deliveries, expected capacity stands at 4.3 EH/s. Plant Operations: Two facilities: Scrubgrass and Panther Creek. Panther Creek is operating efficiently, while Scrubgrass requires ~$5M in upgrades due to higher maintenance…
CORZ · Q4 FY2021 Earnings Call
…remaining for 2022 deliveries) Operational Highlights Hash Rate: Grew from under 3 EH/s to 13.5 EH/s in 2021 Self-mined Bitcoins in 2021: 5,769 BTC (most by any U.S.-traded company) Bitcoin Mining Feb 2022 YTD: 2,000 BTC (on pace to double 2021 output) Hash Rate at Feb 2022: 7.7 EH/s in hosting capacity Geographic Footp…
DGXX · Q4 FY2021 Earnings Call
…Per Share: Increased to $3.13 in 2021, up 251% from 2020. Hashrate Growth: Ended 2021 at 416 PH/s; current hashrate as of March 2022 is 720 PH/s. Company targets 1.5 EH/s average for 2022. Bitcoin Production: Producing 3.35 BTC/day at 720 PH/s; aiming for 6.7 BTC/day by achieving 1.5 EH/s. Projected 2022 Revenue: Estimated $114 million…
KEEL · Q4 FY2021 Earnings Call
…an average production cost per BTC of $8,000. Installed Hash Rate at Dec 31, 2021: 2.2 EH/s (up 47% QoQ and 166% YTD from 965 PH/s); current rate as of call: 2.7 EH/s. Daily BTC Production: ~12.5 BTC/day, or ~$590,000/day based on BTC price of ~$47,000. Operational Highlights Completed construction of a new 10 MW facility in Pa…
MIGI · Q4 FY2021 Earnings Call
…EBITDA in 2020. Operational Milestones Self-mining hash rate reached 0.83 EH in Dec 2021. Committed to expand hash rate to 4 EH by Q3 2022 (previous guidance was 3.35 EH), and further increased 2023 target from 5 EH to 5.5 EH. Energy infrastructure capacity increased from 220 MW to 350 MW. Hosted colocation business signifi…
CIFR · Q4 FY2021 Earnings Call
…delivery to retain capital flexibility; expected 2022 installed hash rate adjusted to 7.2 EH/s. Weighted average rig cost: $42.81 per terahash (up from prior quarter due to Bitfury exclusion). Target mining rig efficiency: 33.8 j/TH; Power prices average $0.0273/kWh. Outlook: Infrastructure bottlenecks…
CAN · Q4 FY2021 Earnings Call
…2020). Market share is difficult to estimate due to network hashrate fluctuations, but leadership and gains are evident from revenue/product growth. "Does management have any stock dividend program or plan in mind?" Answer (Zhang): Not currently. Board evaluating new repurchase proposal. Focus remains on reinve…
HIVE · Q3 FY2022 Earnings Call
…Spring 2022. Mining Capacity: Current ≈ 1.9 EH/s Bitcoin; 4.5 TH/s Ethereum (2.9 EH/s BTC equivalent). Forecasted near-term upgrade to ≈ 2.2 EH/s BTC and 5.4 TH/s ETH (3.4 EH/s BTC equivalent). January 2022 Production: 425 BTC equivalent mined (highest efficiency among peers at 147 BTC per…
CLSK · Q1 FY2022 Earnings Call
…Mined 660 BTC in Q1 2022. Ended the quarter with a hash rate of 1.9 EH/s, now over 2.1 EH/s post-quarter. Operating 74 MW of power: 47 MW owned, 27 MW co-located; additional 20 MW under development. Efficiency: $4,500 energy cost per BTC mined at company-controlled sites. Liquidity: $5.2 mill…
IREN · Q2 FY2022 Earnings Call
…significantly below current market prices of $60-80/TH). Installed Hash Rate: 0.8 EH/s at Canal Flats, outperforming earlier estimates (0.7 EH/s). Sites in Development: Mackenzie (BC): 50 MW total capacity; 9 MW online by early Q2, remainder by Q3 2022. 1.5 EH/s total capacity. Prince George (BC): 85 MW total capacity…
CLSK · Q4 FY2021 Earnings Call
…$0.74. Bitcoin Mining Operations: Current hash rate: ~1.3 exahash. YTD Bitcoin production (as of Nov 30): 1,083 BTC. Operating machines: Over 40 megawatts worth installed. College Park, GA facility includes 48 mobile data centers ready to go live imminently. Upcoming immersion cooling installation…
SDIG · Q3 FY2021 Earnings Call
…additional miners installed for a total of 485 petahash, doubling hash rate capacity in ~2 months. Total ordered/installed to-date: ~45,000 miners with 4.4 exahash capacity. Expect to end 2022 with 80,000 miners and 8 exahash capacity. Open Market Miner Acquisitions: 2,500+ miners (~200 petahash) purch…
HIVE · Q2 FY2022 Earnings Call
…Bitcoin Mining Capacity: Increased by 35% in last 3 months to 1.25 Exahash, approx. 0.8% of total BTC network. Ethereum Mining Capacity: 4,200 Gigahash; aggregate equivalent mining rate over 2.1 Exahash in BTC terms. New Brunswick Data Center: 50 MW online by December 2021; full 70 MW online in Q1 2022. Future Capacity Outlook (2022): T…
KEEL · Q3 FY2021 Earnings Call
…BTC in Q3 2021, up 38% from Q2 2021’s 759 BTC. Hash Rate & Capacity: Exceeded 2 EH/s during Q3 2021 (up from 1.4 EH/s at Q2 close). Targeting 3 EH/s by March 31, 2022, and 8 EH/s by end of 2022. Daily Production: Currently producing approximately 12 BTC/day, representing $762,000/day at ~$63,500 per BTC.…
CIFR · Q3 FY2021 Earnings Call
…off-grid. Mining Equipment: Contracts signed for up to 19.5 exahash/second (EH/s) of Bitcoin hashpower through diversified suppliers: Bitmain, MicroBT, and Bitfury. Weighted average cost: $38.58 per terahash (TH). Average efficiency: 33.2 joules/TH. Infrastructure Development Plan: Q1 2022: 60 MW across Alborz, Bear, and Chie…
HIVE · Q1 FY2022 Earnings Call
…Operational Highlights: Achieved 1 Exahash of active Bitcoin mining capacity in August; second Exahash expected in the next 3 months. Expanded New Brunswick facility from 50 MW to 70 MW, with 30 MW operating and remaining 40 MW coming online later this year and early 2022. Planned target: 3 Exahash Bitcoin m…
DMGI.V · Q3 FY2021 Earnings Call
…expected to be strong with new miner installations increasing hash rate and BTC production. Software products are nearing monetization stages; Core+ investments showing rapid progress. DMG maintains strong financial position with strategic flexibility for further investments, expansion, and innovation. Still actively hiring software dev…
CLSK · Q3 FY2021 Earnings Call
…as of August 14: 525 BTC valued at ~$24.7 million Current hash rate capacity: 820 PH/s — Nearly doubled in 46 days Expected hash rate by end of Q4 FY2021: 1 EH/s Future Goal: 2 EH/s by end of 2021, 3.4 EH/s in 2022 Energy Segment Highlights Energy backlog: $24.2 million Residential installations increased more than 3x i…
KEEL · Q2 FY2021 Earnings Call
…2021, marking a major milestone in its growth strategy. Hash Rate Growth: Q2 2021 average hash rate reached 1.3 EH/s, an 89% increase year-over-year (YoY) from 694 PH/s in Q2 2020. As of the end of Q2, hash rate exceeded 1.4 EH/s. The company targets 3 EH/s by Q1 2022 and 8 EH/s by year-end 2022. Bitcoin Production: Mined 759 BTC in Q2 2021…
DMGI.V · Q1 FY2021 Earnings Call
…Christina Lake facility being built to support up to 2 exahash of mining capacity. DMG clarified they have not yet purchased 2 exahash of miners but are working towards this with selective purchases based on 1-year ROI thresholds. Technology Initiatives: Petra technology has achieved patent pending status…
KEEL · Q1 FY2021 Earnings Call
…Bitfarms can begin trading three to four business days later. Hashrate Growth: Average hashrate for Q1 2021 was 988 petahash (PH), a 39% increase from 709 PH in Q1 2020. Ending hashrate stood at 1.2 exahash (EH), with a current hashrate of ~1.42 EH. The Company expects to reach 2.5 EH in fall 2021 and 3.0 EH by end of 2021. Bitcoin Producti…
CLSK · Q2 FY2021 Earnings Call
…Expected to reach 400 PH/s within a month Targeting >1.2 EH/s by September 2021; >3.2 EH/s by September 2022 Potential annual revenue (at $57,000 BTC): $145–$185 million (1.2 EH/s); $370–$415 million (3.2 EH/s) 95% carbon neutral operations—aiming to be fully carbon neutral Energy Segment Highlights:…
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