Strategy, a leading Bitcoin treasury firm, currently holds over 593,000 Bitcoin valued at approximately $65 billion, underscoring its dominant position in the crypto market. After a consistent streak of weekly
CoreWeave’s $9 billion acquisition of Bitcoin mining leader Core Scientific marks a significant expansion in AI and high-performance computing infrastructure. This all-stock deal enhances CoreWeave’s data center capacity, positioning it
Strategy holds more than 593,000 Bitcoin with a current value of roughly $65 billion.
Coreweave will acquire data center operator Core Scientific in an all-stock transaction valued at approximately $9 billion. The deal, announced Monday, is expected to close in the fourth quarter of 2025. Coreweave Adds 1.3 GW Power via Core Scientific Buy Under the agreement, Core Scientific stockholders will receive 0.1235 shares of Coreweave Class A common
This suggests major shift in investor sentiment in favor of Ethereum
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BitcoinWorld Iris Energy Surges: Record Revenue and Monumental AI Cloud Expansion in June The cryptocurrency world is constantly buzzing with innovation and growth, but every now and then, a company truly stands out. Iris Energy (NASDAQ: IREN), a prominent player in the Bitcoin mining sector, has just reported a June performance that’s nothing short of phenomenal. With record-breaking revenue and significant strides in its ambitious AI Cloud expansion , IREN is not just participating in the digital revolution—it’s leading the charge. This isn’t just about numbers; it’s about strategic vision and execution in a rapidly evolving landscape, highlighting the immense potential within the digital asset economy. Iris Energy’s Record-Breaking June Performance Iris Energy has truly outdone itself in June, marking a period of unprecedented financial success. The company announced a staggering monthly revenue of $68 million , a figure that sets a new benchmark for their operations. This impressive top-line growth was accompanied by a robust hardware profit of $51 million , showcasing efficient management and strong operational margins. While electricity costs amounted to $16 million , the net profitability underscores IREN’s ability to navigate the volatile energy market effectively while scaling its operations. These financial milestones are a testament to Iris Energy’s operational excellence and strategic foresight, solidifying its position as a powerhouse in the digital asset space. Let’s break down the key financial highlights: Total Revenue: $68 million (Record high) Hardware Profit: $51 million Electricity Costs: $16 million This remarkable performance indicates not just a strong market but also Iris Energy’s enhanced capacity and optimized mining strategies paying dividends. It’s a clear signal of their growing influence and profitability within the competitive Bitcoin mining industry. Powering Up: The Ascent of a Bitcoin Mining Company What does it take for a leading Bitcoin mining company to achieve such scale? For Iris Energy, it’s a combination of aggressive expansion and strategic infrastructure development. In June, IREN successfully hit its ambitious target of 50 EH/s (Exahashes per second) hashrate . This isn’t just a number; it represents a colossal amount of computational power dedicated to securing the Bitcoin network and validating transactions. To support this immense hashrate, the company boasts a substantial data center capacity of 810 MW (Megawatts) . This significant infrastructure allows IREN to deploy and operate a vast fleet of mining equipment, ensuring high efficiency and competitive advantage. Achieving 50 EH/s places Iris Energy among the elite in the global Bitcoin mining landscape. It signifies not only their commitment to scaling but also their operational prowess in managing large-scale energy consumption and hardware deployment. This expansion directly translates into increased potential for Bitcoin block rewards and transaction fees, fueling their revenue growth and strengthening their market position. As a premier Bitcoin mining company , IREN’s commitment to expanding its operational footprint is evident. Beyond Mining: IREN’s Bold AI Cloud Expansion While its roots are firmly in Bitcoin mining, Iris Energy is strategically diversifying its portfolio by making significant inroads into the burgeoning AI market. The company’s AI Cloud expansion is a prime example of this forward-thinking approach. In June, IREN substantially boosted its AI capabilities by adding approximately 2,400 NVIDIA Blackwell GPUs . This addition brings their total count of powerful NVIDIA GPUs to an impressive 4,300 . NVIDIA Blackwell GPUs are at the forefront of AI computing, designed to handle the most demanding machine learning and deep learning workloads. Why is this significant? The demand for high-performance computing power for AI applications is skyrocketing across industries, from scientific research to enterprise solutions. By leveraging its existing data center infrastructure and power capacity, Iris Energy is uniquely positioned to offer scalable and efficient AI computing services. This strategic pivot allows them to tap into a new, high-growth revenue stream, reducing their sole reliance on Bitcoin price fluctuations and diversifying their business model. This move transforms IREN from purely a mining entity into a comprehensive digital infrastructure provider, making their AI Cloud expansion a critical strategic move. Key aspects of IREN’s AI Cloud strategy: Strategic Diversification: Reduces reliance on Bitcoin mining alone. High-Demand Market: Taps into the rapidly growing AI computing sector. Leveraging Existing Infrastructure: Utilizes current data center and power capabilities. Cutting-Edge Hardware: Deployment of NVIDIA Blackwell GPUs for superior performance. Reaching New Heights: Understanding Crypto Hashrate Milestones The concept of crypto hashrate is fundamental to understanding the operational scale of companies like Iris Energy. Hashrate represents the total combined computational power being used to mine and process transactions on a proof-of-work blockchain, such as Bitcoin. A higher hashrate indicates greater security for the network and, for miners, a higher probability of solving blocks and earning rewards. Iris Energy’s achievement of 50 EH/s is a significant milestone that places them among the largest contributors to Bitcoin’s network security, showcasing their impressive crypto hashrate capabilities. This substantial increase in hashrate is a direct result of their ongoing deployment of high-efficiency mining rigs and the expansion of their data center facilities. It underscores a strategic commitment to growth and market dominance in the Bitcoin mining sector. Furthermore, a higher hashrate often translates into improved operational efficiency and lower per-unit mining costs over time, enhancing the company’s profitability and competitive edge. How does a higher hashrate benefit a mining company? Increased Block Rewards: A larger share of the network hashrate means a higher chance of solving a block and earning Bitcoin rewards. Enhanced Network Security: Contributing more hashrate helps secure the Bitcoin network against attacks. Operational Scale: Indicates significant investment and capability in large-scale infrastructure. Competitive Advantage: Positions the company as a leader in the mining industry. Driving Growth: The Significance of Digital Asset Revenue Beyond the operational achievements, the financial backbone of Iris Energy’s success lies in its impressive digital asset revenue . The record $68 million monthly revenue isn’t just a number; it reflects the culmination of efficient mining operations, strategic capital deployment, and perhaps the early fruits of their AI cloud initiatives. This revenue stream is critical for funding ongoing expansion, technological upgrades, and maintaining a healthy balance sheet in a capital-intensive industry. Furthermore, Iris Energy’s strategic financial moves in June also contributed to its robust position. The company’s $550 million convertible notes offering was oversubscribed , a clear indicator of strong investor confidence in their growth trajectory and diversified business model. An oversubscribed offering suggests that demand from investors exceeded the available notes, allowing the company to secure capital on favorable terms. This capital infusion is crucial for further expanding both their Bitcoin mining operations and accelerating their AI Cloud development. Another pivotal development was Iris Energy’s completion of its transition to U.S. domestic issuer status . This move simplifies regulatory compliance, potentially lowers administrative costs, and broadens the company’s access to U.S. capital markets. It also enhances transparency and appeal to a wider range of institutional investors, further advancing their initiatives in AI customer acquisition and broader financing efforts, all contributing to their robust digital asset revenue streams. Iris Energy’s June report paints a vivid picture of a company firing on all cylinders. From achieving record-breaking revenue and hardware profit to hitting its ambitious 50 EH/s crypto hashrate target, IREN is solidifying its dominance as a leading Bitcoin mining company . More impressively, its bold and rapid AI Cloud expansion with a massive deployment of NVIDIA Blackwell GPUs signals a strategic diversification that positions the company for long-term growth beyond traditional crypto mining. Coupled with an oversubscribed convertible notes offering and a smooth transition to U.S. domestic issuer status, Iris Energy is demonstrating not just operational prowess but also astute financial management and strategic foresight. As the digital economy continues to evolve, IREN’s integrated approach to digital infrastructure, encompassing both Bitcoin mining and AI computing, makes it a compelling entity to watch in the coming years. Their recent achievements underscore a powerful trajectory towards becoming a leading provider of high-performance computing solutions and generating significant digital asset revenue . To learn more about the latest Bitcoin mining and AI Cloud trends, explore our article on key developments shaping the digital asset and high-performance computing landscape. This post Iris Energy Surges: Record Revenue and Monumental AI Cloud Expansion in June first appeared on BitcoinWorld and is written by Editorial Team
Allegations stating that Huawei ripped off Alibaba’s Qwen AI model for its Pangu model have surfaced. The company has since denied all those allegations. As open models become more popular, so do concerns over proper attribution, training transparency, and compliance with licensing terms. That has led up to Huawei facing allegations over whether or not it independently developed its AI model. Huawei denies copying Alibaba’s Qwen AI model Huawei has strongly denied the claims that a version of its artificial intelligence large language model, Pangu Pro Moe, copied elements from Alibaba’s Qwen 2.5-14B. The company’s AI research division, Noah’s Ark Lab, released a statement over the weekend to deny the allegations brought to light in a paper published by an entity called HonestAGI. HonestAGI posted a technical report on GitHub on Friday, alleging that Huawei’s Pangu Pro Moe, which is a Mixture of Experts (MoE) version of its Pangu Pro model, shows “extraordinary correlation” with Alibaba’s Qwen 2.5-14B, a smaller member of the Qwen 2.5 model family launched in May 2024. The HonestAGI report claimed that the similarities were significant enough to suggest that Huawei did not train its model entirely from scratch. The paper accused the company of “upcycling” another manufacturer’s model. This is an act that, if done without proper attribution or licensing, could constitute copyright infringement. The paper further alleged that there was a fabrication in Huawei’s technical documentation and misrepresentation of the resources invested in model training. In response, Noah’s Ark Lab firmly rejected these claims , stating, “Pangu Pro Moe is not based on incremental training of other manufacturers’ models.” The lab emphasized that the model was “independently developed and trained” and highlighted innovations in architecture and technical design. The lab pointed out that Pangu Pro Moe is the first large-scale model fully trained on Huawei’s proprietary Ascend AI chips and also insisted that its team strictly followed open-source licensing rules when incorporating third-party components, although it did not specify which open-source models, if any, were used as references. As of the time of writing, Alibaba has not commented on the situation, and HonestAGI has not provided further information. China’s AI industry is under international scrutiny Chinese tech companies are currently vying for dominance in the generative AI space. Bolstered by government backing and strong investor interest, major players in the industry are in a race to roll out more efficient, powerful, and accessible AI models that can rival global leaders like OpenAI and Google DeepMind. Huawei was among the first Chinese companies to enter the large language model (LLM) field when it debuted the original Pangu model in 2021. However, the company’s momentum has since slowed compared to competitors like Alibaba, Baidu, and DeepSeek. In late June, Huawei attempted to reassert itself in the industry by open-sourcing its Pangu Pro Moe models on the Chinese developer platform GitCode. The goal was to attract more developers and promote wider use of its technology by offering free and open access. The company’s strategy is similar to the one adopted by other Chinese firms following the release of DeepSeek’s open-source R1 model earlier this year. Alibaba’s Qwen series is regarded as more consumer-oriented. The Qwen 2.5 family, which includes the 14-billion parameter model at the center of the controversy, is designed for flexible deployment across devices like PCs and smartphones. It also supports chatbot services similar to ChatGPT, making it more immediately visible to the public and end-users. Huawei’s Pangu models, on the other hand, are reportedly geared toward enterprise and government applications, including sectors like finance and manufacturing. While disputes like the one started by HonestAGI add to the international scrutiny on Chinese-made AI models, they also add to the involution narrative festering at home in Chinese tech industries. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Bitcoin is charging to retest the $110,000 price level following a bounce that occurred last week, which may have rekindled bullish market sentiment. With Bitcoin’s price surging remarkably towards its current all-time high in the last few days, several key metrics appear to be picking up pace alongside this growth. As SOPR Climbs, Bitcoin Market Shift As this week began, Bitcoin reclaimed the $109,000 level and is gradually heading toward higher price levels. On-chain data shows that the blockchain network appears to be stepping into a fresh chapter in its market dynamics . Related Reading: Bitcoin STH Capitulation Signal Emerges – Historical Rallies Followed This Setup Alphractal, an advanced data analytics and investment platform, shared this development on the X platform, capturing the attention of the market. The platform stated that Bitcoin has entered a new on-chain discovery phase, with blockchain data offering clear signs that the market dynamic is adjusting. Presently, the Bitcoin Spent Output Profit Ratio (SOPR) Trend is rising as the flagship asset moves into this new discovery phase. It is important to note that the SOPR Trend Signal is a key metric that determines whether investors are currently realizing profits or losses. This crucial metric, which is on the rise, suggests the start of a longer bullish trend and indicates renewed confidence in Bitcoin’s upward trajectory , with healthier profit realization. One of the crucial qualities of this metric is how it uses on-chain behavior to capture market trends. According to the on-chain platform, the SOPR Trend Signal is climbing for the third time in the ongoing bull cycle. Such a development has never been observed since the creation of the flagship asset, making this trend a critical moment in BTC’s market dynamics and direction. Alphractal highlighted that this triple upswing in SOPR implies that BTC holders have had numerous chances to trade their coins and make large profits in less than a year. Should this trend hold, it might set the stage for a potentially strong new bull market run as Bitcoin’s on-chain behavior reaches new heights. In the meantime, the platform warns that a bearish shift may be indicated if the blue line crosses below the orange line, which is visible on the chart. However, given that the bearish shift has not occurred, Alphractal has urged investors to watch closely and stay calm during market fluctuations. BTC’s Realized Profit Grows After Sudden Price Bounce A recent report from Ali Martinez, a seasoned technical expert and trader, has shed light on Bitcoin’s current profitability levels. Bitcoin investors are locking in more gains, with realized profits rising to levels not seen in months. Related Reading: Bitcoin Profit Realization Hits $650 Billion—Already More Than Last Bull Run As the flagship asset’s price surges, data shows a huge rise in profit-taking activity , which indicates that investors are taking advantage of the newfound rally to secure gains. After examining the Bitcoin Sell-side Risk Ratio, Ali Martinez revealed that more than $9.2 billion in profits have been realized from BTC. This large value in realized profits is a result of BTC’s current rally, adding an extra layer of momentum to the upward trend.
CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing.