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00:00:04.959Hey guys, welcome or welcome back to the channel McNally Money, the official home of power analysis.
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00:00:08.240A bit of a lackluster day in the market to kick off the week.
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00:00:13.279We're gonna be breaking down price action and the latest AI infrastructure headlines.
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00:00:16.640Before we get into it, take a second, smash the like button, guys.
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00:00:18.160Big help to myself and the channel.
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00:00:19.760Anthony absolutely loves it.
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00:00:29.199And let us know in the comments section below if you're adding to any of your positions and your current top pick in the space.
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00:00:32.560With that being said, let's get into today's episode.
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00:00:42.719All right, guys, away we go.
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00:00:44.159Monday evening here.
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00:00:46.159Another episode coming your way.
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00:00:47.359A big one, Anthony.
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00:00:49.920More price targets, more headlines.
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00:00:52.880And unfortunately, stocks continue to slide.
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00:00:54.640We're gonna cover that in a second here.
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00:01:03.840Bitcoin, we've got on the three-month again, we're seeing some momentum, but just not able to hold those highs we've seen in the past couple of weeks.
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00:01:18.959Yeah, now we saw Bitcoin sort of like recover back to 84,000 on Sunday, and then literally um just as markets opened yesterday that the pullback occurred, and we're now at um 81,756.
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00:01:22.400That's the drop of 2.3% on the day.
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00:01:26.560Um, you can see there from the week, we're down about five and a half percent.
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00:01:34.480Um, still positive territory for the month, and the three month shows you that uh we're in that original 60 to 66 banding.
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00:01:42.400We're now in that sort of 80,000 banding over the last sort of four or five weeks, and um, hopefully we can maintain that banding.
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00:01:45.760But uh yeah, a bit choppy yesterday on the Bitcoin side.
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00:01:51.280It certainly is, and we'll talk about the stocks in a second, but same thing on that front, Anthony.
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00:01:57.439Uh, talking about strategy and strive asset management again in typical Monday fashion here.
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00:02:06.000An update from both CEOs, Michael Saylor first, 250 Bitcoin, and continuing the buyback of their preferred.
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00:02:11.680Yeah, so they've used some of their um of their USD assets to to make this purchase.
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00:02:24.879That 250 Bitcoin is now added to their treasury, eight eight hundred and forty-eight thousand two hundred and fifty in total, and they've repurchased 192 million of the uh stretch preferred share.
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00:02:34.319Yeah, it's it's a times at the moment the share price isn't quite at the$100, so they can't use that facility um to buy more Bitcoin quickly.
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00:02:53.439Um, unlike uh their uh their their peer company there in terms of Strive and Matt Cole's put out an announcement um clearly highlighting um that they're uh using the strategy at the moment um in a better way, they've acquired 2,000 bitcoin for a total of 169 million.
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00:03:02.960That's an average of just over 84,400 per coin, and that brings their total holdings now to 29,462.
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00:03:08.479Now, my calculations they're probably about 6,000 bitcoin behind Mara.
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00:03:13.599They're currently fifth on the uh on the on the list of companies holding Bitcoin.
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00:03:54.560Um Mara is one ahead of them, and um it's literally now at this rate, possibly uh you know three weeks to a month away from probably covering that, and if they're can maintain that Bitcoin buying position with the uh share price at$100, uh the Saturn share price$100, um, that'll make uh that'll make an obviously uh a quicker route to achieving that and then onwards and upwards because uh yes, strategy is too far away, but I can see Strive in a lot too distant future, holding that second spot um because it seems to have managed to get this um you know this strategy of of of the preferred um you know really settled down.
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00:03:57.360They're offering the best interest rate there, 13.1%.
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00:04:04.960They're offering daily interest to uh to shareholders, which makes it uh more attractive in that short term there.
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00:04:18.160Um now to get these shares, they raised uh 61.5 cent of capital from the preferred, and they had uh warrants generating 56.7 million, so benefit on both sides there.
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00:04:28.560And um if you go and link on there, uh 8K will also provide the key metrics and KPIs through the third quarter of 2026.
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00:04:32.079Yeah, no, Stretch wasn't online at all last week.
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00:04:42.399It wasn't online today, but SATA managed to be online Monday, Tuesday in a big way, slowed down Wednesday, and then was sub-100 Thursday, Friday.
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00:04:54.480We've got a snapshot here, both sub-100, but interestingly, Stretch has pulled ahead for the first time in a few months here of ASST or their preferred SATA.
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00:04:57.040Now we move into the stocks here, Anthony.
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00:05:01.120ABTC managed to close green along with their sister company.
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00:05:06.720Aside from that, pretty much red across the board, but this was an interesting day of trading.
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00:05:13.279Again, you're on the other side of the world here, you're seeing the price action pre-market, and it looked a lot different.
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00:05:21.759Yeah, you can see everything apart from ABTC and has dropped um from the start of the day and is currently at their bottom of the day range there.
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00:05:29.439Um, and we'll come on to the iron news uh later, but their share price was up uh nine percent in pre-market.
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00:05:33.680Um you can see there by the end of the day, it's down one percent there.
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00:05:37.120So that's a effectively like a 10% swing in one day.
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00:05:40.079But ABTC having a decent day there up 4.6%.
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00:05:49.040HUT as well, up 1.15, but the rest of the day, with the exception of DMG, and that's because there's a holiday north of the border price at the moment.
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00:05:51.680I think sure Thanksgiving holiday today.
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00:05:59.759Uh the rest of the shock stocks are showing red uh with Soluna and Wi-Fi both uh in excess of 5% down.
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00:06:06.560Saluna's had a few bad weeks now and um lost a lot of those potential early gains there.
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00:06:15.040Big fan of the retail investors, um, hoping to maybe get some news on that uh Cati 2 uh facilities there.
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00:06:17.680Remember, they've got about 100 megawatts of an LOI.
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00:06:32.720Maybe need some impetus on the name there to uh to start driving the stock uh back above a dollar because at the moment this is um you know not too early stages, but they they have to maintain a dollar in that range there to remain on the Nasdaq.
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00:06:42.560And so when it drops below a dollar there, they they have a period of time to get it back above the dollar, but they'll get notices um if they don't succeed in that period.
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00:06:47.040And we've actually seen Saluna have some of those concerns before.
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00:06:50.639So hopefully John and team get back above a dollar.
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00:06:53.120Now, Anthony, we move over the heat map here.
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00:06:54.720It looks pretty dismal.
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00:06:56.000What is your advice?
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00:07:03.120People investing in this sector, they're reading the fundamentals, they're seeing the deals, they're seeing the revenue per megawatt.
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00:07:10.480But over the last, I'm gonna say, probably 15 sessions or three weeks, we have just seen this sector getting beaten up.
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00:07:16.639We've talked about interest rates, we've talked about yield, we've talked about some of the concerns around NIMBYism.
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00:07:20.639What do you make of this pullback we've seen over the last month or so?
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00:07:23.839Yeah, I mean, to be honest with you, it's been over the last um three months.
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00:07:25.600It's uh you know, maybe slightly more.
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00:07:31.040June the 22nd was the highest for a lot of these companies, and since that day, they've pulled back significantly.
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00:07:34.959The one month change alone there, uh 16% down.
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00:07:38.319The five-day change is a majority of that, uh, 13%.
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00:07:42.720This last, like you say, this last eight trading days has been has been quite dour.
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00:07:54.800Uh, we talk, I think we were talking last week of some stocks that were down eight eight sessions on a on a row there, and I think um this this could be nine or ten sessions uh for some of them stocks this week.
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00:08:03.920Um, like you say, the the green shoots there are ABTC and HUT there, but uh not a lot of green on the on the board for all the other periods there.
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00:08:13.519Year to date's managing to keep its head above water, only six percent up year to date, but the one-year change down 23% as well.
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00:08:45.679So um yeah, challenging times uh for these companies, but um you can see from the five-day change the volatility um when the market wants to re-rate some of these stocks, and the fundamentals suggest that the majority of those companies on there, uh, especially ones that have got contracts, uh, once that revenue starts um delivering, uh you know, these these prices will be uh you know out of date because you know the fundamentals clearly show that they're gonna get significant revenues.
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00:08:48.399The margins are believed to be extremely high.
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00:09:06.879A lot of them pushing out you know the margins on these contracts, and you know, uh, you know, in in in in terms of net operating income or eBIT DA, uh, you're looking at 85, so in some cases 100% margins because most of the costs of these contracts are pass-through cost of the client.
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00:09:17.039And if you don't believe me, have a look at some of the hook contracts, uh, Riverbend and Beacon uh point, uh, significantly high margins on those two contracts there.
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00:09:36.960If you're looking at high revenues, you will look at um the likes of BitDear and Riot platforms, uh, they're certainly and TerraWolf um holding around there with contracts uh for$2.3 million and above$2.4 million the case of BitDear for that uh deal in tidal Norway per megawatt.
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00:09:40.480Um so you know, a lot of opportunity out there.
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00:09:43.200Um, the market's just not having it at the moment.
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00:09:58.559Um there's a lot of sort of, I suppose, the political factors out there at the moment still probably um hampering some of these shares, but um the ones we talk about on a daily basis, they've done the right thing, they've got the permits in place, they're going to deliver these sites.
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00:10:13.279There's a lot of um bad actors out there um who are getting weeded out by the states, the states are putting in corporate governance to try and make sure that everyone is um uh you know doing this in good faith, that they have the funds to deliver these sites.
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00:10:18.080And we know from the companies that we talk about on a daily basis, this has been their business for many years.
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00:10:20.799They've been building you know sites for Bitcoin mining.
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00:10:25.039Now they're moving across to HPC and they're building data centers there as well.
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00:10:38.000And from what we've seen from early stages, um, in terms of the likes of Core Scientific, in terms of the likes of Iron, in terms of the likes of Terrowolf, they're producing good quality data centers.
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00:10:43.840So we've had no comeback on any of the clients uh or feedback to say that they're otherwise.
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00:10:49.519No, we haven't, and we've got a clip from HUT talking about that community involvement in a second here.
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00:10:53.039Now, you mentioned HUD 8, ABTC having a good day.
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00:10:55.279They've both announced earnings dates.
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00:10:57.440TerraWolf joined the mix today.
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00:11:01.919They've come out with their Q3 date for November 6th, pre-market.
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00:11:07.039I think this could really be the next round of catalysts to get the sector moving, Anthony.
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00:11:14.000Start seeing some earnings, start seeing some revenue growth, and potentially some big announcements or new sites.
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00:11:20.159What are your thoughts as we start to get into earnings season here and about getting this sector moving again?
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00:11:35.039The the challenge that we'll see is um the majority of companies because they haven't started receiving revenues from um HBC AI, uh, they're then reliant on revenues that they've been uh achieving through Bitcoin mining.
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00:11:42.320And though we've seen the price of Bitcoin rally in the last three months, as we already highlighted, it's still not going to get them the margins.
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00:11:57.360You're gonna see um some of the companies again um you know showing um in terms of margins um poor, but some of those companies with the Bitcoin on the balance sheet will have the benefit of the FASB rules.
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00:12:06.559Remember the price at the end of June and the price at the end of September, it's probably about a 15,000 upside to that to the difference there.
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00:12:21.919And if you've got a significant amount of Bitcoin, you're going to get$15,000 times the amount of Bitcoin on your balance sheet as a as a potential um uh increase in in valuation of a of an asset, and so you'll benefit from that.
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00:12:27.919So, you know, see the likes of Mara, Riot, uh, Hutt, um, benefit from that there.
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00:12:37.200But if you look at the mining business themselves, there's not a lot of not a lot of profit to be seen, and we'll see that when we get to maybe Iron's um results.
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00:12:59.120Um, you know, that yes, they started to get um revenues or significant significantly more revenues through their HPC, but the mining revenues won't be anywhere near what they used to be, and also the fact that they're not you know effectively making any any profits, they're still probably using machines that cost money and the depreciation cost of those machines will outweigh any benefit there.
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00:13:01.279So it's gonna be a challenging the quarter.
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00:13:29.200I think when we get into 2027, maybe the second third quarter, when some of these sites, the likes of the big terrible sites, are are online, and core scientific will handed over that 590 megawatt um uh sites to to Core Weave, and Iron have handed over the whole of Horizons 1 to 4 to Microsoft, then you start seeing those revenues come through the system there, and that's where you'll see the big differences.
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00:13:32.799Now, Core Scientific will show significant revenues.
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00:13:37.440They already had about 400 megawatts of that deal handed over by mid-year.
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00:13:52.960So I would imagine the majority of their Q3 earnings will be showing at least half the revenues coming through for that contract because the total of the contract's 590 megawatts, and they were certainly past halfway at the beginning of June.
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00:13:57.120Then you're looking at uh Q3, which is from July to the end of September.
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00:14:04.159So we'll see some definitely green shoots there, and it'll be interesting to see if there are any costs against those contracts.
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00:14:09.919That's something that you know people aren't highlighting when they're discussing revenues and margins.
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00:14:17.759Um, I've worked on massive service contracts like these, and the one key thing that they have inside them is a payment mechanism.
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00:14:28.399And if you don't reach the standard of the contract, there are ways that the client can recover costs through the contract for non-delivery of performance.
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00:14:36.559Now, we've seen that already, and I think White Fiber had some non-performance there, and I think one of their quarterly periods it was over a million dollars.
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00:14:43.519Now it doesn't sound a big number there, but I think at the time it probably represented about 10 or 12 percent of their revenue.
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00:14:50.879That's something that's not mentioned in in any of the slides that we've seen in terms of how these companies are portraying their contracts.
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00:15:15.360So it's gonna be interesting when we see some of the big contracts, and if they're anything like that, I hope you know that um the majority of them are uh you know will have you know limited, but with every business, um, you know, unless you're delivering 100% of the contract, they do have these um quite uh significant payment contracts, and these contracts are like uh the Bible in terms of size of them, they go into every detail.
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00:15:21.360So um every you know, and and it for a day or two, it's not a big deal.
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00:15:28.559But if if if a problem happens over a week or a month, the they are escalated and the costs are significant.
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00:15:38.080That's something I'll be looking through once um results come through for companies that are delivering significant amounts because they'll be highlighting in there where the cost occurred.
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00:15:51.679Yeah, we've heard a lot of the CEOs talk about those SLAs or service level agreements, and it will be interesting to see how much of that perfection or perfect revenue number we've seen reported actually comes through the door.
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00:16:00.399Now, on the topic of revenue, uh Bitcoin, crypto, Anthony, bit digital, they came out with their monthly report for September.
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00:16:05.120They've switched their entire HODL from Bitcoin over to Ethereum.
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00:16:12.960We've talked about the performance of Ethereum so far this year, uh, keeping pace, or if not, in front of Bitcoin.
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00:16:16.080And again, a pretty productive month in terms of staking.
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00:16:22.080About 74,234 Bitcoin, which is about 45.3% of the total.
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00:16:29.519They're holding 163,726 Ethereum, uh, which is worth about 440 million uh dollars.
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00:16:32.559That's a slight drop in number of Ethereum from last month.
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00:16:37.039It was over 164,000, so we're actually selling a little bit of their Ethereum there.
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00:16:50.960Uh, the average cost price is about$3,000 uh dollars per per coin, which is um about 11% low on what the current um price is, or$53 million below the cost price what they've paid for at the moment.
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00:16:58.639However, they do have this stake in in uh white fiber, 27 million shares, representing about 60% of the company.
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00:17:03.679That's worth close to 500 million, and that's actually more than the Ethereum Treasury.
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00:17:05.359It's a it's a it's a model here.
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00:17:37.200We know that shareholders have have sort of uh you know asked uh for the company uh to maybe do some buybacks um in terms of shares in bit digital, and I think um you know uh Sam has responded that they are considering all options uh in terms of you know strategy for Bit Digital itself, but white fiber uh certainly with the deals that they're having there and the fact that HBC AI seems to be getting a bit more of a shining light at the moment, having probably the better opportunity.
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00:17:45.920We have seen Ethereum rally a little bit lately, but in line with Bitcoin, we're seeing these last uh few days as having some downward pressure as well.
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00:17:49.680Yeah, unfortunately it follows pretty closely to Bitcoin now.
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00:17:54.000Dark horse, uh, an update on the TVA assets here.
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00:17:57.519So two sites in Hopkinsville, Kentucky.
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00:18:03.440We've talked about them individually, Anthony, but both now getting some recognition in the local news there.
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00:18:06.400Update in regards to Brickyard and truck stop.
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00:18:20.079Yeah, so Project Brickyard is a 15 megawatt remodel of its operating facility at the Holland substation and shifting from Bitcoin mining to inference-based AI after about three years of quiet operation.
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00:18:23.039We covered truck stop on the on a more recent podcast.
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00:18:32.000That's a new construction of computing and electric generation along Pembroke Road and tied to a proposed new 50 megawatt data centre.
00:18:32.160 -->
00:18:48.640In terms of substation, we've got a 65 megawatt substation with 15 megawatts offered to Hopkinsville's electric system, and the latest power purchase agreement with with the uh Hopkinsville electric system helps meet Tennessee Valley Authority timelines.
00:18:48.960 -->
00:18:53.599Now, one of the sort of minor concerns is the uh use of water.
00:18:53.839 -->
00:18:57.359Brickyard needs about 300,000 gallons of water.
00:18:57.599 -->
00:19:04.319We did a little bit of analysis before the podcast that represents about half a uh Olympic-sized swimming pool.
00:19:04.480 -->
00:19:07.920That needs to be replenished roughly every two years.
00:19:08.319 -->
00:19:16.319Truckstop itself will use a closed loop cooling system, so you use significantly less there because the it will be within the loop for the duration.
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00:19:26.160Dark Horse says it's trading some computing power for quieter, cleaner cooling as well, which will obviously be a benefit to uh local community.
00:19:26.400 -->
00:19:35.599Now, in terms of the next steps, the local zoning and possible Hopkinsville City Council approvals, plus another public forum within 30 to 45 days.
00:19:35.680 -->
00:19:41.119The company admits the project, adds a few full-time jobs after the construction.
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00:19:49.680And Dark Horse is taking the community's first route in Hopkinsville and its AI conversion plan, uh, which still needs the local sun.
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00:20:00.960If remember, there's now uh process in place where you know local uh feedback has to be uh approved uh before the rest of the permitting goes in place.
00:20:01.279 -->
00:20:04.640Yeah, really interesting to get an update on some of these smaller sites.
00:20:04.720 -->
00:20:12.000So similar to DMG or Christina Lake in the case of truck stop, similar to Moses Lake in the size of Brickyard.
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00:20:24.880And we brought this up last week, but Dark Horse participating in the Maxim Growth Summit this week in New York, taking part in a panel tomorrow afternoon on data center and infrastructure development.
00:20:25.039 -->
00:20:37.119Now, next up in terms of weekly updates here, BitDear, they've come out with another weekly production report in terms of the Bitcoin mining business and another update on the AI side of the house.
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00:20:46.160Yeah, their weekly production looks like it could be uh from their self-mining uh business, um, a high of the week, their 300.6 bitcoin.
00:20:46.319 -->
00:20:52.799Looks like they've sold everything as they've been doing over the past few months, they're selling their uh bitcoins they produce it.
00:20:53.039 -->
00:20:58.880Heading for another uh big, big month there, probably you know, in excess of 1200 bitcoin for the month.
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00:21:13.920There, we've seen some uh big numbers for the last four weeks there, and uh bearing on mind um September's a 30 day months, you've got an extra two days of mining, and uh when you're mining probably 40 bitcoin a day, uh that's going to take you over 1200.
00:21:14.160 -->
00:21:28.640Now they've also announced they're expanding their Malaysia campus with a new 60 megawatt A103 facility closing in on that up to 350 megawatt global capacity target.
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00:21:43.119This A103 is an eight-year data center service agreement for 60 megawatts on the existing Malaysia campus, and the campus totals 71.5 megawatts, so a fairly effective uh PUE rate ratio there.
00:21:43.359 -->
00:21:59.839Now they've secured in total 333.5 megawatts across the global sites, there, which represents about 95% of that target, which is due to be completed by Q1 2028, so only 16.5 megawatts.
00:22:00.240 -->
00:22:01.759What's to go now?
00:22:01.839 -->
00:22:04.400This site especially is going to be built for Vera Rubin.
00:22:04.559 -->
00:22:11.839So the Rat Scale NVIDIA systems design for the next generation with energization expected in Q1 2028.
00:22:12.000 -->
00:22:18.319The chief finance officer says Vera Rubin is the capacity customers are asking about for 2020 themselves there.
00:22:18.480 -->
00:22:24.799And this only comes about four days after the announcement of the 67 megawatt A901 deal.
00:22:25.039 -->
00:22:29.920So BitDeer has added 127 megawatts in under a week.
00:22:30.400 -->
00:22:34.480Certainly a company should start paying a little bit more attention to.
00:22:42.559 -->
00:22:48.640Now they haven't built any of these sites and they haven't paid for any machines yet, but um they've certainly got the capacity in place there.
00:22:48.720 -->
00:22:57.440And I imagine doors will start opening for them to start borrowing some of the funds to deliver these sites and to deliver these GPUs effectively.
00:22:57.680 -->
00:23:04.079Now, in terms of their pipeline, active AI Cloud Plan, it still estimates that more than$10 billion.
00:23:05.200 -->
00:23:06.079Pretty impressive.
00:23:06.160 -->
00:23:14.559And I'm glad you brought up the GPU financing because that was really my question is where are they going to get the money to fill up this 350 megawatts?
00:23:14.720 -->
00:23:18.000The other interesting point you mentioned, an eight-year contract.
00:23:18.079 -->
00:23:19.839This is a CSP model.
00:23:20.079 -->
00:23:30.079So potentially or indicating maybe the GPUs are lasting longer than five, six years, uh, or BitDeer planning to run them up to seven, eight years.
00:23:30.160 -->
00:23:35.839Now, HUD 8, you mentioned in the intro, Anthony, one of the two green stocks today on the map.
00:23:36.000 -->
00:23:40.000Uh, they've been active in Feliciana Parish, Louisiana.
00:23:40.160 -->
00:23:42.400We've talked about this site quite a bit.
00:23:42.640 -->
00:23:48.720Actually, put out a video today, uh, four or five minutes long, talking about the community impact here.
00:23:48.880 -->
00:23:54.720And this, I think, really summarizes quite nicely what we've been talking about on this channel.
00:23:59.200 -->
00:24:02.400We had a new water whale that they paid for.
00:24:02.559 -->
00:24:04.880It was really important for us to get it right.
00:24:05.200 -->
00:24:12.880So we worked with the parish leadership about being able to run it through parts of the parish that people can tap off onto for future use.
00:24:13.440 -->
00:24:17.599What they've done for this parish, a lot of people don't even see it.
00:24:18.079 -->
00:24:24.640Tax revenue is going to be coming in, an additional 90 million a year, which is uh generational change.
00:24:24.799 -->
00:24:34.880Every school teacher, every sheriff deputy got bonuses, every parish employee got raises, and we're going to be able to fix your roads.
00:24:35.279 -->
00:24:36.720Yeah, absolutely.
00:24:36.880 -->
00:24:44.160Um, they are uh looking at what they're doing for the local communities as well as delivering these amazing sites.
00:24:44.640 -->
00:24:50.400The the development within that uh West Feliciana parish is already making the difference there.
00:24:50.480 -->
00:24:59.920The employees have received raises and bonuses, small businesses are expanding to serve the crews that are already on site, and local tradespeople are working close to home.
00:25:00.079 -->
00:25:02.480Some for the first time in many years.
00:25:02.640 -->
00:25:18.720Now, local leaders have described this anticipated increase in new tax revenue as a generational change that will allow them to rebuild infrastructure, strengthen institutions, and invest in the community that their children and grandchildren will inherit.
00:25:18.960 -->
00:25:22.640Yeah, it's great to see building that community for those around them.
00:25:22.720 -->
00:25:26.079And we saw that firsthand during our Texas tour.
00:25:26.240 -->
00:25:30.559Now, Iron, again, it's been a busy couple weeks in terms of news flow.
00:25:30.640 -->
00:25:32.640We've got a few different parts here.
00:25:32.880 -->
00:25:36.160Obviously, the anthropic news we'll talk about in a second.
00:25:36.319 -->
00:25:46.880You referred to some of that pre-market share price action, but a little closer to you, Anthony, actually sponsoring NVIDIA GTC Berlin Conference uh this year around.
00:25:47.200 -->
00:25:48.079Yeah, you're quite right.
00:25:48.160 -->
00:26:00.240Ira sponsoring the NVIDIA GTC conference, which is taking place in Berlin um October the 20th to the 22nd, or uh, you know, literally uh next week.
00:26:00.480 -->
00:26:02.960Um, I'm not going to be obviously available for that one there.
00:26:03.200 -->
00:26:06.960I don't get back from the Far East until the 25th.
00:26:07.440 -->
00:26:11.200So uh, but it's certainly one to put on our um our match next year.
00:26:11.279 -->
00:26:13.359Berlin is one of the cities in Europe I haven't been to yet.
00:26:13.440 -->
00:26:19.759So um, you know, maybe an opportunity to go there in the future if they do another conference uh uh in 2027.
00:26:20.079 -->
00:26:20.720There you go.
00:26:20.880 -->
00:26:34.160Now, the big news last night, Anthony, all over X, Anthropic announced as one of two potential Frontier model labs or AI model labs, partnered with Iron.
00:26:34.480 -->
00:26:42.480It sounds like that is more or less baked in stone now, and the share price took a big pop pre-market.
00:26:42.799 -->
00:26:48.400It did, as I said earlier in the in the in the chat, uh that the share price was up nine percent pre-market there.
00:26:48.480 -->
00:26:59.680And as soon as market opened, we saw you know edging down um all the way till the end of the um session today, and it's finished uh down just over one percent today.
00:26:59.759 -->
00:27:04.319So a 10% swing from open to close there and the challenge day.
00:27:04.400 -->
00:27:20.400And actually, when you think about the prop positive news that came out with regards to uh you know anthropic being um that uh client, um, which neither company at the moment have um have have communicated, but there's enough evidence out there to suggest it.
00:27:20.480 -->
00:27:28.400And we did have Kent on the podcast, and he was saying it's fetched it down to either OpenAI or Anthropic, and um looks like the Anthropics have it.
00:27:28.640 -->
00:27:32.640So they've added Anthropic to the lineup alongside Microsoft.
00:27:32.880 -->
00:27:40.400Another tweet that caught our attention today as well, in terms of the Mirantis partnership and the optionality this provides, Iron.
00:27:40.559 -->
00:27:46.799So the bare metal offering, which we've talked about extensively, that's what's being offered to Microsoft.
00:27:46.880 -->
00:27:56.400They've now got the software offering as well, really giving people the option to choose uh how they want to conduct themselves in the AI ecosystem.
00:27:56.720 -->
00:28:10.400Yeah, and and this milestone demonstrates that the virtualized GPU environments can deliver predictable bare metal performance while supporting that secure, much required hardware-level multi-tenant isolation.
00:28:10.559 -->
00:28:20.400Now, Iron AI Cloud empowers engineering teams to match the infrastructure to workload commitments, balancing performance isolation and operational efficiency.
00:28:20.799 -->
00:28:42.640And the AI builders can choose from a number of uh choices software-defined virtualization, which will deliver secure, elastic multi-tenant environments and scalable inference, or dedicated bare metal clusters, which are optimized for maximum performance, deliver high throughput model training and high current currency, ultra-low latency inference.
00:28:42.720 -->
00:28:48.640So, from infrastructure inference, choose the operational that best fits every AI workload.
00:28:48.960 -->
00:28:50.319Yeah, busy day at Iron.
00:28:50.559 -->
00:29:04.559So another conference to watch for, another potential pushback to the semi-analysis article, and of course, that big pre-market action or volatility in terms of share price should be an interesting week for them.
00:29:04.799 -->
00:29:07.839A couple of new share prices to kick off the week as well.
00:29:08.160 -->
00:29:09.200We do have a few.
00:29:09.279 -->
00:29:17.039Um applied, we've been covering a little bit of applied in the last few months there, and along with some of the other uh big uh players in the business there.
00:29:17.119 -->
00:29:36.079They've had a um a price target issued by uh um Morgan Stanley, Stevensbird, and um he's maintained an equal weight rating on the share price there, and a target of$41, which has been raised from the previous$37.50.
00:29:36.240 -->
00:29:41.359Look at today's share price or the date when uh this uh actual rating came out there.
00:29:41.440 -->
00:29:43.759There's a projected upside of over 73%.
00:29:44.880 -->
00:29:48.880Um, so um plenty of upside on that particular share price there.
00:29:49.359 -->
00:29:59.599Morgan Stanley's also maintained uh a Galaxy uh digital uh rating of overweight and given them a target of$43.
00:30:00.720 -->
00:30:06.720Um, so uh effectively uh plenty of upside in that particular share as well.
00:30:07.119 -->
00:30:15.039And Maxim, we mentioned the conference going on this week with Dark Horse, they've been active giving ABTC an upgrade as well.
00:30:15.279 -->
00:30:34.400Yeah, American Bitcoin price target has been raised uh to sixteen dollars from fifteen at maximum, and they've raised that target uh on the grounds that um the firm has revenues from Bitcoin prices$75,000 versus uh a prior view of$65,000.
00:30:34.720 -->
00:30:42.799If you look at the the quarter uh by quarter um increases there, that's a$10,000 increase um in Bitcoin valuation there.
00:30:42.880 -->
00:30:51.440So they've added an extra extra dollar to their previous target and keeps a buy rating uh for the share price there.
00:30:51.519 -->
00:30:54.079So again, uh potentially plenty of upside.
00:30:54.240 -->
00:31:02.559You could see the actual uh share price doing extremely well today in terms of nearly up 5% against a market that was predominantly in the red.
00:31:02.960 -->
00:31:05.519Final one we have for you tonight, Terrowolf.
00:31:05.599 -->
00:31:09.759This is one you and I have both been very interested in at these levels.
00:31:09.920 -->
00:31:16.240A price target update, but again, nowhere near where we think this company should be trading.
00:31:16.559 -->
00:31:19.839No, this is from analysts uh at TD Cowan.
00:31:19.920 -->
00:31:35.359Uh, they've given a buy rating, which uh you'd expect with the deals that Terrowf has signed, but a price target of$21, which is pretty low compared to some of the other targets we've seen from some of their peers on Wall Street in the recent weeks.
00:31:35.519 -->
00:31:54.319We've seen some in the$30-40 dollar bracket there, and we know that when Patrick Fleury came on the channel there, he was sort of like suggesting, even optimistically, that you know,$30 would be at least where the company should be based on some of the contract that he signed and some of that pipeline of power that can be converted.
00:31:54.640 -->
00:31:59.519But$21 at today's price is giving you an upside of over 50%.
00:32:00.400 -->
00:32:05.119And uh TerraWolf's a company I added to on Friday as well to my portfolio.
00:32:05.279 -->
00:32:11.839So um, even at$21, still a nice return uh in a potentially short space of time.
00:32:12.160 -->
00:32:20.240It really is, and again, you guys, we've got price targets moving up, we've got great headlines, great updates from the companies we cover.
00:32:20.319 -->
00:32:23.759However, the share price again painting a different picture.
00:32:23.920 -->
00:32:26.400We'll see if Tuesday brings anything different.
00:32:26.559 -->
00:32:27.920Thanks so much for watching.
00:32:28.160 -->
00:32:30.079See you back here tomorrow.
