Behind the Curtain: How Top Bitcoin Miners Raised Capital to Dominate

Power Mining Analysis

Bitcoin surpasses $110,000 as mining stocks rally with significant volume increases, showing renewed investor interest in the sector amid improving fundamentals and strategic capital deployment.
• Bitcoin trading above $109,000 with miners showing strong share price performance
• Iren announces purchase of 2,400 NVIDIA Blackwell GPUs ($130M) for AI cloud expansion at Prince George facility
• DMG and Riot June production affected by curtailment, with Riot earning $5.6M from power sales
• Iron and Core Scientific market caps exceed $4B and $5B respectively
• Deep dive into ATM usage by major miners reveals they raised over $10B combined
• Mara approaching 50,000 BTC treasury worth $5B+ as they target 75 exahash
• CleanSpark paused ATM usage in November until share price reaches $20
• Iron achieved industry-leading efficiency at 15 joules/terahash with $41,000 production cost
• Mining companies transitioning from ATM financing to convertible notes
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Chapters

1. Market Update and Production Results (00:00:00)

2. Bitcoin Miners' Price Performance (00:10:44)

3. DMG and Riot June Production Updates (00:18:06)

4. Iron's GPU Expansion for AI Infrastructure (00:19:29)

5. ATM Usage Analysis of Major Miners (00:23:19)

6. Individual Miner ATM Strategies and Results (00:39:17)