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    Iris Energy Issues 20 EH/s Expansion Update

    IREN is pleased to provide an update on its expansion to 20 EH/s in 2024:About IRENIREN is a leading next-generation data center business powering the future of Bitcoin, AI and beyond utilizing 100% renewable energy.ContactsTo keep updated on IREN’s news releases and SEC filings, please subscribe to email alerts at https://investors.iren.com/ir-resources/email-alerts.Forward-Looking StatementsThis press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. For example, forward-looking statements include but are not limited to the Company’s business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to be materially different from any future results performance or achievements expressed or implied by the forward looking statements, including, but not limited to: Bitcoin price and foreign currency exchange rate fluctuations; IREN’s ability to obtain additional capital on commercially reasonable terms and in a timely manner to meet our capital needs and facilitate its expansion plans; the terms of any future financing or any refinancing, restructuring or modification to the terms of any future financing, which could require IREN to comply with onerous covenants or restrictions, and its ability to service its debt obligations; IREN’s ability to successfully execute on its growth strategies and operating plans, including its ability to continue to develop its existing data center sites and its ability to diversify into the market for High Performance Computing (“HPC”) solutions; IREN’s limited experience with respect to new markets it has entered or may seek to enter, including the market for HPC solutions; expectations with respect to the ongoing profitability, viability, operability, security, popularity and public perceptions of the Bitcoin network; expectations with respect to the profitability, viability, operability, security, popularity and public perceptions of any HPC solutions that IREN offers; IREN’s ability to secure and retain customers on commercially reasonable terms or at all, particularly as it relates to its strategy to expand into HPC solutions; IREN’s limited experience with respect to new markets it has entered or may seek to enter, including the market for HPC solutions; expectations with respect to the ongoing profitability, viability, operability, security, popularity and public perceptions of the Bitcoin network; expectations with respect to the profitability, viability, operability, security, popularity and public perceptions of any HPC solutions IREN offers; IREN’s ability to secure and retain customers on commercially reasonable terms or at all, particularly as it relates to its strategy to expand into HPC solutions; IREN’s ability to manage counterparty risk (including credit risk) associated with any current or future customers and other counterparties; IREN’s ability to secure renewable energy, renewable energy certificates, power capacity, facilities and sites on commercially reasonable terms or at all; the risk that any current or future customers or counterparties may terminate, default on or underperform their contractual obligations; Bitcoin global hashrate fluctuations; delays associated with, or failure to obtain or complete, permitting approvals, grid connections and other development activities customary for greenfield or brownfield infrastructure projects; our reliance on power utilities providers, third party mining pools, exchanges, banks, insurance providers and our ability to maintain relationships with such parties; expectations regarding availability and pricing of electricity; IREN’s participation and ability to successfully participate in demand response products and services and other load management programs run, operated or offered by electricity network operators, regulators or electricity market operators; the availability, reliability and/or cost of electricity supply, hardware and electrical and data center infrastructure, including with respect to any electricity outages and any laws and regulations that may restrict the electricity supply available to IREN; any variance between the actual operating performance of IREN’s hardware achieved compared to the nameplate performance including hashrate; IREN’s ability to curtail its electricity consumption and/or monetize electricity depending on market conditions, including changes in Bitcoin mining economics and prevailing electricity prices; actions undertaken by electricity network and market operators, regulators, governments or communities in the regions in which IREN operates; the availability, suitability, reliability and cost of internet connections at IREN’s facilities; IREN’s ability to secure additional hardware, including hardware for Bitcoin mining and HPC solutions it may offer, on commercially reasonable terms or at all, and any delays or reductions in the supply of such hardware or increases in the cost of procuring such hardware; expectations with respect to the useful life and obsolescence of hardware (including hardware for Bitcoin mining as well as hardware for other applications, including HPC solutions IREN may offer); delays, increases in costs or reductions in the supply of equipment used in IREN’s operations; IREN’s ability to operate in an evolving regulatory environment; IREN’s ability to successfully operate and maintain its property and infrastructure; reliability and performance of IREN’s infrastructure compared to expectations; malicious attacks on IREN’s property, infrastructure or IT systems; IREN’s ability to maintain in good standing the operating and other permits and licenses required for its operations and business; IREN ability to obtain, maintain, protect and enforce its intellectual property rights and other confidential information; whether the secular trends IREN expects to drive growth in its business materialize to the degree it expects them to, or at all; the occurrence of any environmental, health and safety incidents at IREN’s sites, and any material costs relating to environmental, health and safety requirements or liabilities; damage to our property and infrastructure and the risk that any insurance IREN maintains may not fully cover all potential exposures; ongoing proceedings relating to the default by two of IREN’s wholly-owned special purpose vehicles under limited recourse equipment financing facilities; ongoing securities litigation relating in part to the default; and any future litigation, claims and/or regulatory investigations, and the costs, expenses, use of resources, diversion of management time and efforts, liability and damages that may result therefrom; our failure to comply with any laws including the anti-corruption laws of the United States and various international jurisdictions; any failure of our compliance and risk management methods; any laws, regulations and ethical standards that may relate to IREN’s business, including those that relate to Bitcoin and the Bitcoin mining industry and those that relate to any other solutions we may offer (such as HPC solutions), including regulations related to data privacy, cybersecurity and the storage, use or processing of information; any intellectual property infringement and product liability claims; our ability to attract, motivate and retain senior management and qualified employees; increased risks to our global operations including, but not limited to, political instability, acts of terrorism, theft and vandalism, cyberattacks and other cybersecurity incidents and unexpected regulatory and economic sanctions changes, among other things; climate change, severe weather conditions and natural and man-made disasters that may materially adversely affect our business, financial condition and results of operations; the ongoing effects of COVID-19 or any other outbreak of an infectious disease and any governmental or industry measures taken in response; our ability to remain competitive in dynamic and rapidly evolving industries; damage to our brand and reputation; expectations relating to Environmental, Social and Governance issues or reporting; the costs of being a public company; and other important factors discussed under the caption “Risk Factors” in IREN’s annual report on Form 20-F filed with the SEC on September 13, 2023 as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investor Relations section of IREN’s website at https://investors.iren.com.These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that IREN makes in this press release speaks only as of the date of such statement. Except as required by law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.__________________1 Comprised of miner purchase options with Bitmain for 9 EH/s of T21 miners plus additional miner purchases of 1 EH/s. Decisions with respect to Childress expansion and exercising all, some or none of the miner purchase options will be made during 2024, taking into consideration market conditions, shareholder value and funding availability. In addition, the Company retains flexibility to utilize miner purchase options for purposes of upgrading some or all of its existing fleet. Source: IRIS ENERGY LIMITED More

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    Ault Alliance targets major expansion of AI and Bitcoin operations

    Sentinum, a wholly owned subsidiary of Ault Alliance, is preparing to increase the Michigan data center’s capacity from 30 megawatts (MWs) to up to 300MWs, contingent on securing necessary funding. This expansion is part of Sentinum’s goal to become a prominent player in high-density computing and AI hyperscale operations.The Michigan data center, which occupies 100,000 square feet within a larger 617,000 square foot building, is strategically located near power sources to utilize eco-friendly power. Over the next three to five years, Sentinum aims to substantially boost this facility’s capacity, subject to adequate financial backing.Additionally, Sentinum’s new Montana facility is expected to be operational by March 2024, initially increasing power capacity by 10MWs. The company has begun an electrical load study with the local utility to explore potential power upgrades, with a view to significantly expanding the Montana sites.Milton “Todd” Ault III, Founder and Executive Chairman of Ault Alliance, expressed optimism about the company’s strategic vision and the market’s response. He highlighted the critical role of AI in the company’s future growth.William B. Horne, CEO of Ault Alliance, reiterated the company’s commitment to technology infrastructure expansion, emphasizing the search for financing and strategic partnerships to support the ambitious growth plans.If the company secures the necessary resources, the expansion would enable Sentinum to scale its operations and strengthen its position as a technology sector entity focused on digital transformation and sustainability.This announcement is based on a press release statement from Ault Alliance, Inc.As Ault Alliance, Inc. (NYSE American: AULT) outlines its strategic shift towards expanding AI hyperscale capabilities and relocating Bitcoin mining operations, investors may be evaluating the company’s financial health and market position. The latest data from InvestingPro presents a mixed picture for Ault Alliance. With a notably small market capitalization of 1.12M USD, the company is trading at a very low Price / Book multiple of 0.01 as of the last twelve months ending Q3 2023, which could indicate that the stock is undervalued relative to its assets.However, the financial metrics reveal some challenges. The company has been experiencing rapid revenue growth, with a 75.93% increase over the last twelve months as of Q3 2023. Despite this, Ault Alliance operates with a significant debt burden and may have trouble making interest payments on its debt, which is a concern for potential investors. The company’s stock has also been highly volatile, with a 1 Month Price Total Return of -35.89% and a 6 Month Price Total Return of -98.95%, reflecting substantial market uncertainty.Investors looking for comprehensive analysis and additional insights can turn to InvestingPro for more in-depth information. For instance, among the several InvestingPro Tips available, it is noted that the Relative Strength Index (RSI) suggests the stock is currently in oversold territory, which might attract those looking for potential buying opportunities. Additionally, the company’s net income is expected to grow this year, providing a glimmer of hope amidst the financial concerns. For those interested in exploring these metrics further, there are 19 additional InvestingPro Tips available at https://www.investing.com/pro/AULT, which could aid in making more informed investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

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    Bakkt and Swan Bitcoin expand trading across most US states

    Gavin Michael, CEO of Bakkt, expressed enthusiasm about the partnership’s progress and hinted at potential future endeavors, including possible international market expansions. This move marks a significant milestone for both companies as they seek to increase their footprint in the digital currency space.Bakkt, established in 2018, offers institutional-grade custody and trading services, with a focus on long-term engagement in the crypto economy. Swan Bitcoin is recognized for its user-friendly app that simplifies Bitcoin purchasing and offers a suite of services catering to high-net-worth individuals, businesses, and financial advisors.The announcement indicates a growing collaboration between traditional financial institutions and cryptocurrency service providers, aiming to make Bitcoin more accessible to a wider audience. The strategic partnership between Bakkt and Swan shows a concerted effort to integrate digital assets into mainstream financial services.The information is based on a press release statement from Bakkt Holdings, Inc.In the wake of Bakkt Holdings, Inc.’s (NYSE: BKKT) announcement of their expanded partnership with Swan Bitcoin, investors may be curious about the company’s financial health and market performance. According to InvestingPro data, Bakkt has a market capitalization of 250.8 million USD, reflecting the size of the company in the current market. Despite impressive revenue growth over the last twelve months as of Q3 2023, with an increase of 974.24%, the company’s financials show signs of strain. The gross profit margin during the same period was -15.6%, indicating challenges in maintaining profitability.InvestingPro Tips suggest that Bakkt is quickly burning through cash and has suffered from weak gross profit margins. This may raise concerns for potential investors considering the company’s ability to sustain its operations and growth without incurring further losses. Moreover, the stock has experienced significant price volatility, with a one-month price total return as of the end of January 2024 showing a decline of -39.41%, which aligns with the tip that the stock has taken a big hit over the last month.For investors seeking a deeper dive into Bakkt’s financials and performance metrics, InvestingPro offers additional insights. There are 11 more InvestingPro Tips available, which could provide a more comprehensive understanding of the company’s market dynamics. Interested readers can access these tips by visiting the InvestingPro site for Bakkt at https://www.investing.com/pro/BKKT. To enhance the value of their subscription, users can apply the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

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    Bakkt Holdings and Swan Bitcoin Partner over Bitcoin Trading Across

    “We are thrilled to be taking this exciting step forward in our partnership with Swan,” said Gavin Michael, CEO of Bakkt. “This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”Interested parties can open a Swan account here. To learn more about Bakkt and the company’s offerings, visit bakkt.com. More

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    Sam Bankman-Fried to stick with new lawyers despite possible conflict

    NEW YORK (Reuters) -Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX, appeared in court on Wednesday for the first time since his November fraud conviction and confirmed he wanted to stick with new lawyers despite a possible conflict of interest.Bankman-Fried, 31, in January hired defense lawyers Marc Mukasey and Torrey Young to represent him through his March 28 sentencing. He could face decades in prison after a Manhattan federal court jury found the former billionaire guilty of stealing billions of dollars from FTX customers.At a brief hearing before U.S. District Judge Lewis Kaplan in Manhattan, Bankman-Fried said he was comfortable hiring Mukasey and Young even though they also represent the founder of bankrupt cryptocurrency lender Celsius Networks, Alex Mashinsky, who has pleaded not guilty to separate fraud charges. Kaplan asked Bankman-Fried, who wore a tan jail shirt and chains around his ankles, to describe the possible conflict in his own words. “At a high level, they also represent Alex Mashinsky,” said a clean-shaven Bankman-Fried, whose curly hair has grown longer since his monthlong trial last year. Bankman-Fried described Celsius as “a firm that the firms I ran had business interactions with.”Mukasey, a former federal prosecutor in Manhattan and the son of former U.S. Attorney General Michael Mukasey, was once part of former President Donald Trump’s personal legal team. He also represented electric- and hydrogen-powered truck maker Nikola (NASDAQ:NKLA)’s founder Trevor Milton, who was sentenced last year to four years after being convicted of fraud for lying to investors about the company’s technology – well below the 11 years prosecutors suggested. Bankman-Fried told Kaplan he had consulted with lawyers Mark Cohen and Christian Everdell, who represented him during his trial, about Mukasey’s potential conflict. Bankman-Fried said he also had discussed it with Alexandra Shapiro, another lawyer who will handle his eventual appeal. Mukasey said Cohen and Everdell will soon request Kaplan’s permission to withdraw from the case. In a Feb. 6 court filing, prosecutors in Bankman-Fried’s case said his Alameda Research hedge fund used stolen FTX customer funds to repay money it borrowed from Celsius. The prosecutors said Bankman-Fried and Mashinsky may have different opinions as to whether Celsius was defrauded and entitled to restitution.Bankman-Fried, held at Brooklyn’s Metropolitan Detention Center since August 2023, said on Wednesday he has been taking anti-depressant medication and Adderall, which is used to treat attention deficit hyperactivity disorder. During his trial, Bankman-Fried’s lawyers said in October he needed a higher Adderall dose than he had been receiving in jail each morning to focus.Mashinsky, 59, waived his right to a lawyer without any potential conflicts at a hearing on Tuesday before U.S. District Judge John Koeltl. Mukasey and Young said at that hearing that they could fairly represent both Bankman-Fried and Mashinsky. Mashinsky is free on bail. His trial on charges of artificially inflating the value of the company’s in-house crypto token and earning $42 million from selling his holdings is scheduled for Jan. 28, 2025. More

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    Crypto stock Galaxy Digital new Buy at Canaccord

    Having exposure both in its balance sheet and operations to the cryptocurrency ecosystem, GLXY “represents one of the most diversified ways to play digital assets,” analysts at Canaccord said in a note.“Overall, we view Galaxy as well positioned against what we believe should be an improving landscape for digital assets in 2024,” they added. Canaccord sees Galaxy’s institutional trading business as a “share gainer,” citing several positive catalysts. In particular, this segment should capitalize on the anticipated widespread launch of Galaxy One, its unique crypto prime brokerage platform, along with the approval of various spot BTC ETFs in the U.S. and the forthcoming Bitcoin halving, which are expected to push spot prices upwards.“This, in turn, helps the Galaxy trading business, given potentially higher volatility and overall dollar-weighted trading volumes,” the analysts wrote.They also pointed out that GLXY’s balance sheet is highly influenced by underlying cryptocurrency spot prices, which are adjusted on a quarterly basis. “As such, we would expect to see a Q4 book value for Galaxy to be appreciably higher than what it was exiting Q3.” More

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    CME Group to Launch Micro Euro-denominated Bitcoin and Ether Futures on March 18

    “Global investors have sought more precise tools to manage their risk as interest for bitcoin and ether grows. As such, we have seen a four-fold increase in volume in our USD-denominated Micro Bitcoin and Micro Ether futures,” said Giovanni Vicioso, Global Head of Cryptocurrency Products at CME Group. “The launch of these new Micro Euro-denominated contracts will provide clients with additional products to more efficiently hedge bitcoin and ether exposure in the second-highest traded fiat behind U.S. dollar-based contracts. Year-to-date, 24% of Bitcoin and Ether futures volume at CME Group has been transacted from the EMEA region, and we continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves.”Designed to match their U.S. dollar-denominated counterparts, Micro Bitcoin Euro and Micro Ether Euro futures contracts will be sized at one-tenth of their respective underlying cryptocurrencies. These new futures contracts will be listed on and subject to the rules of CME.”TP ICAP will support this market-defining crypto derivative from CME Group by providing block facilitation services to this product. Our global Digital Assets business has been providing price discovery and execution services on CME Group’s (NASDAQ:CME) suite of crypto derivatives since the start of 2020, leveraging TP ICAP’s strengths in connecting market participants as the foundation for our Digital Assets proposition,” said Sam Newman, Digital Assets Head of Broking at TP ICAP. “Interest in crypto derivatives has seen huge worldwide growth in recent years and these new euro-denominated micro futures contracts will help further expand the accessibility and utility of crypto derivatives, particularly within Europe.”CME Group’s Cryptocurrency product suite continues to provide consistent liquidity, volume, and open interest for clients seeking to hedge their risk or gain exposure to the asset class. January was a record month in terms of average daily volume (71K contracts) across all Cryptocurrency products. In addition, average daily open interest for Bitcoin and Ether futures reached all-time highs for the month (23.5K contracts and 6K contracts, respectively). Micro Bitcoin and Micro Ether futures also saw a trading surge, with average daily volumes growing 43% versus December 2023. More

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    Cryptoverse: Breezy bitcoin reclaims $1 trillion crown

    (Reuters) – Bitcoin is riding high.The world’s largest cryptocurrency has leapt 22% this year to $52,005, pushing it past a market value of $1 trillion mark for the first time since its record heyday of late 2021. Its resurgence has electrified the broader cryptocurrency market, including ether and other digital coins, which has now exceeded $2 trillion, as per data from CoinGecko.The sector has been bolstered by the U.S. regulatory approval of several spot bitcoin exchange-traded funds (ETFs), from BlackRock (NYSE:BLK) and Fidelity among others, which allow access to the crypto coin vis regular stock exchanges.The U.S. spot ETFs added 60,000 bitcoin in the first month of their launch, more than twice the miner production in the same period, brokerage Bernstein said.”The amount of flows far outstrips anyone’s expectation,” said Mark Connors, head of research at Canada’s 3iQ Corp.Crypto trading volumes are also robust.Total spot trading volumes on centralized exchanges rose 4.4% to $1.4 trillion in January, recording the fourth consecutive monthly increase and the highest reading since June 2022, a report by London-based researcher CCData said.The resurgence of interest helped the largest listed crypto exchange Coinbase (NASDAQ:COIN) Global post its first quarterly profit in two years last week .”The bitcoin appreciation is contributing to better spot bitcoin ETF flows, which is in turn driving bitcoin prices higher, and pulling other tokens higher as well,” J.P.Morgan analysts said.$150,000 BITCOIN IN 2025?Many industry watchers say the outlook is looking bright at the moment, with investors buying bitcoin ahead of the blockchain’s “halving” – a preplanned process that reduces mining rewards in half every four years – due in April.Gautam Chhugani, analyst at Bernstein, expects 2024 to be a break-out year for cryptocurrencies where bitcoin hits all-time highs followed by a peak of $150,000 by mid-2025.”This optimistic outlook is bolstered by the expectation of an upcoming halving event and the possibility of interest-rate reductions,” CCData analysts said.While bitcoin remain 32% away from its record high of $69,000, it notched an all-time high against the Japanese yen at 7,919,000 yen last week.BEWARE GREEDY CORRECTIONIt’s not all crypto high-fives: There are some signs the market is being led by investors driven by FOMO.CoinGlass’ Crypto Fear & Greed Index, a scale of 0 to 100 where zero denotes “extreme fear” and 100 signals “extreme greed”, hovered at 72. Usually when investors get too greedy, it signals the market is due for a correction.Riskier assets such as bitcoin could be threatened by persistently high interest rates; traders’ have pushed back bets of a rate cut to June from March following a string of strong U.S. economic data.”While we remain bullish with liquidity rushing back into risk assets, inflation being sticky over 3% remains a downside risk and would also mean increased volatility across markets,” analysts at crypto trading firm QCP Markets said. (This story has been refiled to add a dropped word in paragraph 15) More