Jeff LaBerge

So wait… Morgan Stanley is modeling ~$15 of equity value per watt for recent AI data center conversions. If $MARA builds 200MW with Starwood and captures 50%, that could represent ~$1.5B in market value if I’m doing my math right. Against a $3.3B market cap… And that’s just the first 200MW of a 1GW JV. Before the 53,822 BTC treasury and mining ops. It’s also worth mentioning that Morgan Stanley rated $MARA underweight in February before the Starwood announcement because of “limited history of hosting data centers.” Starwood is one of the largest infrastructure investors in the world. They may need to revise that…

Narrative violation --> While megacap tech buybacks have slowed, overall US buyback authorizations are on pace for the 3rd highest year ever.

This morning, Cipher released its Q4 and FY’25 business update and announced an official rebrand to Cipher Digital, reflecting $CIFR's strategic transition into a leading HPC data center development platform. The Company also announced the following updates: - Barber Lake and Black Pearl developments remain on schedule and on budget - Divested 49% interests in the Alborz, Bear, and Chief JV sites and select mining equipment for ~$40 million in an all-stock transaction - Reported Q4 2025 revenue of $60 million “Building on a transformative 2025, the fourth quarter reflected continued momentum as we advanced our evolution into a leading HPC data center development company,” said Tyler Page, CEO. “With financing fully secured and construction on track for both of our currently contracted developments, 2026 is a year of execution as we establish Cipher Digital as a premier platform powering next-generation compute.” More here: bit.ly/3Ox0Y96

$CIFR is officially no longer a miner. Rebranded to Cipher Digital and fully pivoted to HPC. 1. Sold non-core mining stakes 2. Locked in $3.73B financing 3. 600MW contracted (AWS + Fluidstack/Google) 4. Construction on track Q4 revenue/loss doesn’t matter. 2026 = execute and deliver data centers. That’s the whole story now.

ALL TIME HIGH: $WULF market cap

Our decision to sell Bitcoin should not be a concern for the broader market. We are currently evaluating multiple non-binding powered land acquisition opportunities, and we believe it is prudent to prepare liquidity now. Our hash rate will continue to grow, and we will continue to mine more Bitcoin for the interest of our shareholders. $BTDR

Bitdeer #BTC Weekly Update 🔹 BTC Holdings: 0 (pure holdings, excluding customer deposits) 🔹 BTC Output: 189.8 BTC 🔹 BTC Sold: 189.8 BTC 🔹 Net BTC Added: -943.1 BTC 📅 Data as of February 20, 2026. #Bitcoin #BTC #BitcoinHoldings #BitcoinCommunity #BTCMining $BTDR

At @bitcoinmenaconf, our CSO Sanjay Gupta spoke with @altcoindesknews. He highlighted rapid hash rate growth, rising operational sophistication, grid stabilization, and the Middle East’s emergence as a key mining hub. Full Interview: youtube.com/watch?v=8txFfV… #Auradine #MENA

Auradine was proud to be a finalist for Most Respected Private Semiconductor Company at the @GlobalSemi GSA Awards. Our CSO, Sanjay Gupta, spoke with @theCUBE about the rising power and cooling challenges in AI compute. Full video: youtube.com/watch?v=Txk_vN… #Semiconductors

It was a privilege to connect with the incredible community across the global mining ecosystem at @bitcoinmenaconf. Thank you to those who stopped by the @Auradine_Inc booth to discuss the future of mining infrastructure, Stratum V2, and ultra-low-power compute. #BitcoinMENA

👉CleanSpark, America's Bitcoin Miner! @CleanSpark_Inc (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading Bitcoin miner with a proven track record of success. They own a fully self-operated portfolio of mining facilities across the U.S. powered by globally competitive energy prices. CleanSpark sits at the intersection of Bitcoin, energy, operational excellence and capital stewardship. Optimally monetizing low-cost, high reliability electricity positions them to prosper in an ever-changing world.

Always great to be on with you fella! @cazenove_uk @McnallieM youtube.com/watch?v=mTfaJy…

Great video fellas; wish I could have joined you. @cazenove_uk @McnallieM youtu.be/zO6Um_fnJqA

⏳ 1-HOUR COUNTDOWN to the $BTDR Q3 2025 Earnings Call. Join us at 🕗 8:00 AM EST (9:00 PM SGT) as Bitdeer's @MattLinghuiKong , Haris Basit, and @JeffLaberge4 present a detailed breakdown of the financial & operational results for the quarter. 🔗 Live webcast: edge.media-server.com/mmc/p/aor5h4n2 $BTC #Bitcoin #BitcoinMining #Investors

$BTDR October 2025 Mining & Operations Update: 🔹Self-mining #hashrate achieved 41.2 EH/s (vs 40 EH/s target); 511 Bitcoins mined (up 13% MoM). 🔹Construction completed in Ethiopia (50 MW) and energization underway in Ethiopia and Massillon, Ohio. 🔹Deploying 8 NVL72 systems to Malaysia #datacenter. Placed orders for #nvidia GB300 and B300 systems with delivery expected in December. 🔹#AIDataCenter conversion in Washington (13 MW) and Tennessee (10 MW) is ongoing with targeted completion in Q4 2026. Evaluating potential US datacenter rental for the domestic launch of our AI cloud services in Q1 2026. 🔹The first verification of the #seal04 chip shows 6-7 J/TH efficiency at the chip level; Bitdeer's US manufacturing facility is in progress. 🔗 Full report: ir.bitdeer.com/news-releases/… $BTC #bitcoin #bitcoinmining #investors #strategy #HPC

$BTDR Q3 2025 Earnings Highlights📊 👉Revenue reached $169.7 M (up 173.6% YoY), gross profit rose to $40.8 M, while adjusted EBITDA increased to $43 M. 👉Expanding and accelerating #AI strategy by allocating 200 MW to #AICloud services could generate an annualized revenue run rate exceeding $2 B by EOY 2026 under the most optimistic outlook. 👉Self-mining #hashrate achieved 41.2 EH/s by October. Mass production of the #SEALMINER A3 series is underway, and early SEAL04 samples showed 6-7 J/TH efficiency at the chip level. 🔗 Full report: ir.bitdeer.com/news-releases/… $BTC #bitcoin #bitcoinmining #investors

The Bitdeer Q3 Earnings Report is out! ir.bitdeer.com/news-releases/…

Bitdeer #BTC Weekly Update 🔹 BTC Holdings: 2126.8 (pure holdings, excluding customer deposits) 🔹 BTC Output: 117.2 BTC 🔹 BTC Sold: 51.6 BTC 🔹 Net BTC Added: 65.6 BTC 📅 Data as of October 17, 2025. #Bitcoin #BTC #BitcoinHoldings #BitcoinCommunity #BTCMining $BTDR

Sums it up pretty well… google.com/url?q=https://…

@penny_ether @LargoCabayero @BitdeerOfficial Hey guys, most of our remaining hosting capacity is our Membership Hosting, which are long-term contracts, so there is no real timetable. But as @penny_ether said, we have plenty of capacity to fill up in the meantime.

@LargoCabayero @JeffLaberge4 @BitdeerOfficial Actually I'm off here. I'm thinking of cloud hash rate (which is zero). Not sure what the timeline for hosting is -- that's a good question.

$BTDR - tons of updates. Now officially declaring they are going the $IREN route of CSP with "potentially 200MW @ $2b ARR by end of 2026." 570MW in Ohio (2027H1)... they let the LOI expire so they can receive full economics. 164MW in Norway (2026Q4). 15MW in WA underway. On the ASIC/mining front: - Hashrate: They're up to 35 EH/s. More on the way: 5.5 EH/s in transit, and 2.8 EH/s being assembled. - A3 (14J/TH) and A3 Pro (12.5 J/TH): Started mass production. I can only imagine their hashrate growth as these start to land. Will also greatly improve overall fleet efficiency. - A4 (non-charge recycling, latest nodes): Taped out, sub 10J/TH confirmed. They believe it is ready to be mass produced. Testing feasibility they can improve it further to 5 J/TH. - A4 (charge recycling, older nodes, ~6J/TH target): Still very strong confidence they'll hit the mark. My commentary is that, if successful, this would be a gamechanger for their mining... and all BTC mining, and possibly the compute industry as a whole. ----------------- Now, the bad part: Communication. Given $BTDR's "embarrassment of riches," and all they have going on, it's understandably difficult to convey all of it to investors... and they do at least provide tons of updates in these monthly updates. But I am finding that this point it's almost as if they are handicapping themselves intentionally. - The report is late. - The phrasing of things is terrible. - The order of things jumps back and forth. - They use the same name for A4 (not charge recycling) and A4 (charge recycling). It blows my mind that they do this. It is such an obvious and simple thing to fix. - All of the information could be compacted into something easy to understand and follow, month to month. I completely understand that mgmt is busy trying to execute on their goals, and they have tons of overlapping initiatives. And, yes, the update contains loads of information. Good job with transparency and keeping us informed. But low quality documents like this signal either a lack of concern, or outright inability, to connect with investors. Engaging efficiently with capital markets is extremely important for shareholders, because the CapEx intensity is so high. Additionally, you need to be ready to capture investment dollars when the market is ready. I have very little doubt that if BTDR conveyed all of their potential, initiatives, and progress in a simple and ingestible fashion, they'd see a whole different level of investor enthusiasm than what they see right now. There are only a handful of us retails folks that decipher things enough to understand it. It's such a simple and obvious thing to change that the LACK of changing it can easily be interpreted as negligent management. This is BY FAR the #1 reason I don't feel comfortable investing more... because they don't do a good enough job selling themselves, and a lot of their success is reliant upon this. #2 would be that they're a foreign issuer. I'm not really concerned about the "China connection" .. more about access to capital. ir.bitdeer.com/news-releases/…