THE BEARS ARE ON THE MOVE: 🐻
The $BOBO migration will be a 14 day event!
Beginning tomorrow on 4/20 4:20 EST.
via: migrate.fun/project/mig172
The first ever $ETH to $SOL cross-chain migration.
@matthew_sigel IREN AI Cloud Services revenue in Q4-2025 was 17.3 mm. Annualized its currently at 17.3*4=69.2 mm. So they are saying they will be going from 69.2 mm to 3,700 mm annualized AI Cloud revenue in the next 10 months? Yeah right not buying it 🥴
All sorts of narratives will circulate.
But bear markets are normal.
Bitcoin has always topped in Q4 of the post-halving year and then bottomed approximately 1 year later.
Trade the market you have, not the market you want
@matthew_sigel $CLSK 1.03gw operating under contract + 1.7gw development pipeline = 2.73gw. 2.73*8=$21.84 Bn market cap. 21,840 mm/281 mm shares =$77.7 USD per share. Divine triple 7 🚀 would represent +342% from current price of $22.72, still early!
BLACKROCK & NVIDIA IN $40 B DATA CENTER TAKEOVER:
Macquarie is selling Aligned Data Centers for $40B, with press reports noting the platform is “poised to expand its capacity to over 5GW.”
>Implies a valuation of roughly $8M per MW of total data-center capacity (operating + development).
>Listed Bitcoin miners like IREN, RIOT, CIFR, BTDR, and HUT trade ~ $3M per MW on the same "total-capacity" basis.
>If miners can access project finance, that’s 150–500% equity upside.
I own a bunch of bitcoin mining stocks, but not $IREN. It's up 470%+ since April. Meanwhile, most others are pacing the general stock market.
Can $CLSK, $BITF, $CIFR, $RIOT, and $MARA just say they're pivoting to AI Datacenters? They don't need to do it, just need to say they're thinking about it.
@benjamincowen@Sykodelic_ Ben but doesn’t alts bleeding against BTC and then against ETH align with @SecretsOfCrypto path to altseason? This path to altcoin season aligns with what we are seeing right now, as well as with Sycodelic’s view above. Curious to hear your thoughts, cheers
Fair enough. All views should be considered as I certainly don’t have a perfect track record.
My main disinterest with alts since April isnt even because they are bleeding to Btc, it’s because they are bleeding to ETH. Alts are now down 51% compared to ETH over the last 4-5 months.
I think it’s possible that your view is correct if I’m wrong about Btc getting a correction in September.
I do think ALTs will rebound against ETH after ETH makes new all time highs
This is a friendly alternate perspective to @benjamincowen thesis that Alts will "go home".
@benjamincowen has called a lot of things right and is someone who's ideas should be respected.
I however see this one different so just want to offer another perspective :)
Ben is saying that ALTS are yet to bottom compared to BTC. But I think they already have.
So what are we looking at here on this chart?
Alts bottom in comparison to BTC when BTC.D tops out.
This makes complete sense as the peak of dominance would signal the bottom of alts in comparison to it.
In addition, BTC.D has topped every cycle as TOTAL has entered price discovery.
Then when we line them all up we see that...
- ALT/BTC pairs bottom as
- BTC.D tops as
- TOTAL enters price discovery
On an sentiment perspective this also makes sense because...
- Dominance tops out once BTC has pushed very far
- BTC pushing very far creates bullish sentiment
- Bullish sentiment pushes TOTAL market higher
- Total market going higher bottoms out ALTS/BTC
And this bullish sentiment then continues to compound over and over until BTC.D bottoms, ALTS/BTC top and TOTAL ends its run.
IF ALTS/BTC have not bottomed, this means BTC.D has not topped and would be going higher.
This would mean that TOTAL has not broken into price discovery, which it has.
We do not have time left in this liquidity cycle for BTC.D to reverse and head above 66%.
Every cycle we have had, BTC.D has topped when TOTAL has broken into price discovery. And this is a mechanic of liquidity and sentiment.
To finalise...
It makes sense that ALT/BTC will bottom higher at a higher level this cycle, as BTC.D has topped lower.
This is happening because the market has grown, therefore BTC doesn't have the same amount of market share, and therefore ALTS wont bottom as low in comparison to it.
I hope you enjoyed my take and it makes sense fam 😃
$ETH IS ABOUT TO HIT A NEW ATH.
BUT NONE OF THE 30 BULL MARKET PEAK INDICATORS ARE SHOWING "SELL SIGNAL".
THIS PUMP IS JUST THE BEGINNING, NOT THE END.
Here is my CLSK US exit strategy:
- At $55: sell 20% of position
- At $65: sell 30% of position
- At $75: sell 25% of position
- At $90: sell 15% of position
- At $105: sell 10% of position
How likely is it that CLSK reaches these price targets this BTC bull cycle? Curious to hear everyone’s thoughts.
Cleanspark ($CLSK) entered the BTC mining industry in December 2020 and has quickly become the leader of its comp group due to the following differentiating factors:
1) Operational excellence
• Among lowest production costs in the industry at approx. $42,667 per BTC, directly tied to having one of the most efficient mining fleets at 16.71 J/TH (as of May 31, 2025).
• Among highest uptime at ∼98% achieved by their in-house equipment repair team.
• 45.6 EH/s operating hashrate, representing ≈5% of the global BTC hashrate. This means that CLSK mines, on average, ≈5% of all BTC produced daily!
2) Great market timing
• Management has proven track record of timing the market perfectly. CLSK normally shifts to a HODL strategy as BTC bull cycles begin, and selectively sells portions of its BTC stack towards the end of bull cycles to raise capital for rainy bear market days. It then uses this capital to grow aggressively in the midst of bear markets when mining asset prices are at distressed levels.
3) 100% BTC focused & vertically integrated
• Last remaining pure-play BTC miner, with competitors shifting portions of their electric power capacity from BTC to HPC/AI.
• CLSK recently terminated its last remaining hosting ops, and now fully owns 100% of its mining infrastructure.
4) BTC treasury war chest
• Has amassed a huge treasury of 12,502 BTC, making it the 6th largest BTC holding entity in the world.
• Recently launched in-house institutional grade BTC treasury desk, first of its kind in the industry. This will allow CLSK to generate yield on its BTC stack.
5) Escape velocity achieved 🚀
• On April 15, 2025 CLSK announced that it has achieved escape velocity! While the BTC mining industry is riddled with massive equity issuances to fund operations that lead to shareholder dilution, CLSK’s healthy balance sheet & massive BTC treasury will allow it to fund future operations solely by selling portions of its BTC mined as well as by raising BTC collateralized debt, putting an end to shareholder dilution!
Fundamentally, CLSK is doing everything right. Surprisingly however, it has one of the highest short interest %s among publicly traded BTC miners at ≈27% of its float. This has suppressed its stock price & IMO caused significant market inefficiency, creating opportunity. For example, a recent research report published by Macquarie on March 18, 2025 had the following comp valuation analysis:
• EV/Projected EH/s: 0.3 CLSK < 0.6 comp average ✅
• EV/Deployed EH/s: 0.4 CLSK < 1.0 comp average ✅
• EV/FY1 EBITDA: 3.0 CLSK < 6.2 comp average ✅
• EV/FY2 EBITDA: 2.8 CLSK < 4.6 comp average ✅
When you find an industry leader trading at the lowest valuations in its comp group, you might have hit the jackpot & found pure alpha. And that's without factoring in how frothy EV/EH multiples can get during the mania phase of BTC bull markets, which could further magnify returns as the whole comp group re-rates. I’ll leave it at that, hope you found this insightful and let me know your thoughts! @smatthewschultz
Starting today
Every day that $Brett is under 1B market cap
I will share $500 in Brett with someone below
Just comment below so I can do a random tweet picker for the winner tmrw
I don’t think this is gonna last long 😂