Bitcoin Notches Record Week, Miner Stock Reratings + Bit Digital & Soluna Earnings Analysis

Power Mining Analysis

Bitcoin hits its highest weekly close ever at $106,500 while miners face continued profitability challenges, highlighting the growing pivot from traditional mining to HPC operations.
• Bitcoin shows resilience following US credit rating downgrade by Moody's
• Bit Digital reports Q1 earnings with Bitcoin mining now only 31% of total revenue, down from 72% last year
• HPC client base for BitDigital expanded from 1 to 23 clients in one year
• Core Scientific begins receiving HPC revenue in May from their 262-megawatt facility
• Most miners cannot mine profitably even at $105,000 Bitcoin price due to difficulty increases
• Soluna Holdings reports challenges in Q1 but has 220 megawatts of new projects in development
• Mining difficulty increased by 2% with another increase forecasted
• IREN remains the only publicly traded miner that can mine Bitcoin profitably
Let us know in the comments which miner you're watching most closely.

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Chapters

1. Bitcoin price hits all-time high (00:00:00)

2. US credit rating downgrade (00:03:35)

3. Miner stock performance update (00:05:54)

4. BitDigital earnings and HPC growth (00:08:43)

5. Core Scientific HPC revenue beginnings (00:16:22)

6. Saluna Holdings Q1 results (00:21:08)

7. Bitcoin network metrics and difficulty (00:24:22)