Overview
- Revenue rose 92% year over year to $252.4 million, net income reached $123.1 million ($0.27 per share), and EPS missed the $0.44 consensus despite a top-line beat.
- Bitcoin holdings stood at 52,850 BTC at quarter end, nearly double last year, with combined cash, cash equivalents, and bitcoin valued at about $6.8 billion.
- Operational scale increased as energized hashrate reached 60.4 EH/s, roughly 5,000 miners were deployed, and fleet efficiency improved to 18.6 joules per terahash.
- A signed letter of intent with MPLX targets an initial 400 MW of power for West Texas data campuses with potential expansion to 1.5 GW, positioning future facilities for AI workloads.
- Post‑quarter moves include deploying the first ten AI inference racks in Granbury, signing to acquire approximately 64% of Exaion subject to approvals, issuing $1.025 billion in 2032 convertibles, and a share price decline of roughly 5–6% during a broader crypto pullback.