Pipeline scale and deal flow are shaping the crypto-mining comeback. MARA and IREN tout multi-gigawatt pipelines, while AI/HPC deals and treasury moves hint at where stock trajectories could land next [1].
Pipeline scale - MARA — 3GW pipeline; ~7B MC [1] - IREN — 2.9GW pipeline; ~17B MC [1]
Cipher Mining is recalibrating around HPC plus Bitcoin mining. Cipher Mining posted solid Q2 momentum, with hash rate rising toward 16.8 EH/s and BTC holdings climbing from 1,034 to 1,063. It kicked off the Black Pearl data center ahead of schedule and is pushing Phase 2 to support HPC; management guides to 23.5 EH/s by end of Q3, and 6,840 A15Pro miners from Canaan are on order, lifting holdings to 1,414 BTC by August [3].
Texas/HPC deals - IREN, Ionic Digital, Cipher Mining, Wulf (NY datacenter), APLD (N-Dakota), Corz, GLXY [4]
Missing: MARA, Riot, Hut/abtc, CLSK [4].
Bitcoin treasury moves - Bitdeer Technologies boosted holdings by 52.9 BTC to 2,233.2 BTC [5].
Taken together, pipeline depth, announced HPC/AI deals, and treasury heft map a growth arc that could drive upside for operators and, by extension, stock pricing through 2025.
References
$MARA 3GW PIPELINE 7B MC IREN 2.9GW PIPELINE 17B MC
Mentions MARA and IREN, their pipeline capacities and market caps for comparison between two bitcoin mining companies.
View source#CIFR Cipher Mining Reports Q3'25 Earnings Tomorrow before Bell, What to expect?
Cipher Mining reports growing BTC holdings, expanding hash rate, HPC diversification; Q3 expectations hinge on cost, revenue, and expansion trajectory.
View sourceTexas & AI/HPC deals: ✅️ $Iren ✅️ #IonicDigital ✅️ $CIFR ✅️ $Wulf (NY datacenter) ✅️ $APLD (N-Dakot
Lists Texas-based mining firms; marks Iren, IonicDigital, CIFR, Wulf, APLD, Corz, GLXY; asks who else is missing
View sourceJUST IN: Singaporean publicly traded #Bitcoin mining company Bitdeer Technologies $BTDR increased it
Singaporean Bitdeer Technologies, a public bitcoin mining company, reports 52.9 BTC added, totaling 2,233.2 BTC
View source