Latest news with #Bitcoins
Business Insider
16 hours ago
- Business
- Business Insider
Crypto Miner IREN Surges 102% as AI Pivot Delivers Profit Haul
IREN Limited (IREN) is undergoing a transformation, and investors have taken notice. The cryptocurrency mining firm is turning into a profitable digital infrastructure play by combining Bitcoin mining with high-demand AI cloud services. So far, so good, as its recent numbers tell a compelling story: record quarterly revenue of $148.1 million, a return to profitability with $24.2 million in net income, and a rock-solid balance sheet. Confident Investing Starts Here: I am optimistic about the stock and believe it deserves serious consideration for those seeking exposure to a crypto miner with an AI infrastructure technology play. The stock has outstanding growth potential, with analyst price targets suggesting potential gains of more than 50%. The stock price has doubled over the past three months alone. Evolution into an AI Infrastructure Provider IREN has reinvented itself as a next-generation infrastructure provider serving both Bitcoin mining and AI computing needs. It operates cutting-edge data centers across North America, with facilities strategically located in Canada and Texas, all powered by renewable energy. The company has grown from holding a modest 2.8% share of Bitcoin production to capturing 4.5% of the market, placing it among the top 10 publicly traded miners globally. But the real game-changer has been the addition of AI cloud services, powered by nearly 1,900 NVIDIA H100 and H200 graphics processing units (the gold standard for AI computing). What sets IREN apart from competitors like Marathon Digital (MARA) and Riot Platforms (RIOT) is its commitment to renewable energy and operational efficiency. The company has achieved industry-leading performance with an all-in Bitcoin mining hash cost of just $23, resulting in gross profit margins exceeding 87%. However, in March, management made the strategic decision to pause Bitcoin mining expansion at 52 exahash per second and to redirect resources toward AI infrastructure development. It is a bold move into a rapidly growing market that McKinsey projects will require $6.7 trillion in infrastructure investment by 2030. Transformation Drives Financial Results The results from the last quarter suggest a successful transition. Q3 FY2025 revenue reached $148.1 million, 23.8% growth over the previous quarter. More to the point, the company achieved its second consecutive profitable quarter, reporting a net income of $24.2 million. Bitcoin mining contributed $141.2 million, with the company successfully mining 1,514 Bitcoins at a cost of $41,000 per coin while earning $93,000 per coin in revenue. Meanwhile, AI cloud services generated $3.6 million with a remarkable 97% hardware profit margin and 33% quarter-over-quarter growth, demonstrating that the business model transformation is working. Profitability metrics have been solid, with EBITDA of $83.3 million translating to a healthy 56% margin, while earnings per share of $0.11 were roughly in line with analyst expectations. The balance sheet is also quite strong, with zero debt and $184.3 million in cash, before a recent round of fundraising. IREN added $534.9 million from an oversubscribed convertible notes offering in June 2025, giving management significant resources to execute on growth plans. Looking ahead, management is targeting 50 exahash per second of mining capacity by June 2025, followed by the launch of Horizon 1, a 50-megawatt AI project in Q4. Furthermore, the company aims to bring online a massive 2-gigawatt facility in Texas by April 2026, which would significantly expand its AI hosting capabilities. A Deep Dive Into IREN's Valuation IREN appears undervalued when compared to peers in the cryptocurrency mining space. It trades at a relative discount, despite more robust forward-looking expectations, such as the forecast for positive EPS. Furthermore, the price-to-future-cash-flow ratio of 13.64x appears attractive when compared to the IT sector average of 19.15x, especially for a company executing a successful growth strategy in a high-demand market. The asset value story is equally compelling. With potential annual revenue exceeding $714 million at full mining capacity, plus growing AI services revenue, the enterprise value-to-forward EBITDA multiple of 12.16x appears modest relative to the sector average of 14.43x, suggesting the company's power infrastructure and renewable energy advantage may not be fully reflected in the current stock price. Is IREN a Good Stock to Buy? Wall Street has shown strong support for IREN's transformation story, with analysts issuing seven Buy ratings, one Hold, and no Sell recommendations over the past three months. IREN's average stock price target of $17.96 implies approximately 36% upside potential over the next twelve months. JPMorgan recently upgraded IREN to an 'Overweight' rating, naming it their top pick in the sector due to the company's operational efficiency and compelling growth outlook. Meanwhile, Nick Giles from B. Riley raised his price target to $15, and Roth MKM boosted its target to $20, both highlighting IREN's accelerated growth initiatives and strategic investments. The recently oversubscribed $550 million convertible notes offering also provides additional validation of institutional investor confidence. Initially announced at $450 million, the offering was increased twice due to strong demand, demonstrating that the smart money wants exposure to the company's growth story. Final Thoughts on IREN The company is currently undergoing a successful evolution from a Bitcoin miner into a diversified digital infrastructure provider with multiple revenue streams in a market with exceptional growth prospects. Its financial picture looks promising — the balance sheet is solid, revenue is trending up, and it's profitable again. The strategic pivot to AI infrastructure positions IREN to capitalize on a significant investment opportunity, while maintaining profitable Bitcoin mining operations. The combination of exposure to growth in the evolving digital economy, solid financials, and relative undervaluation makes this a stock I remain bullish on.
India Today
3 days ago
- Business
- India Today
US Bitcoin Reserve signals a shift: An opening for India
The US Strategic Bitcoin Reserve, launched in January 2025 under President Donald Trump, has elevated digital assets to a global stage. Valued at more than $20 billion as of June 2025, it underscores Bitcoin's emerging role as a store of India, this shift invites reflection: could Bitcoin, thoughtfully integrated, enhance our economic toolkit?The US initiative currently repurposes 200,000 seized Bitcoins as a buffer against inflation, a strategy cemented by last month's White House Crypto Summit with clearly articulated plans to buy more Bitcoin by exploring budget-neutral Thereby, expanding its Bitcoin reserve holdings in the coming times without hurting the US states have now passed legislation authorising the deployment of public funds to purchase and hold Bitcoin as a reserve asset, with more expected to measures reflect a growing recognition of Bitcoin's potential to bolster fiscal resilience and serve as a hedge in uncertain economic isn't a reckless pivot, it's a calculated step toward embracing digital assets' legitimacy. For India, observing this offers a lens to assess whether Bitcoin could diversify our reserves, complementing traditional holdings in an uncertain global & BITCOIN: A REGIONAL PERSPECTIVE FOR INDIABhutan provides a regional perspective. Since 2021, it has mined Bitcoin with hydropower, amassing a $1 billion-plus reserve by May 2025. Born from tourism's decline, this approach now supports public services and sustainability with its renewable energy capacity, has the full scale of capability to adapt this model, though scale and regulation pose distinct challenges. Bhutan's success suggests digital assets can stabilise economies, a point worth MAKES BITCOIN STAND OUT?Bitcoin stands apart as an asset without an issuer—a commodity, not a security, as the US SEC now recognises. Like gold, it has no central authority; no government, bank, or company controls it. This decentralisation is its bedrock, setting the stage for three defining traits: scarcity, liquidity, and 21 million Bitcoins will ever exist, which, unlike traditional currencies or even assets like stocks, bonds, or commodities that face oversupply and hence inflation, has a fixed mirrors gold's finite nature but operates at digital speed. Bitcoin trades globally 24/7, offering liquidity unmatched by most decentralised assets; gold, by contrast, sits static in vaults or jewellery, less fluid in daily its blockchain—a public, tamper-proof ledger—makes every single transaction verifiable to anyone, reducing the opacity that often clouds traditional qualities echo gold's appeal: a trusted store of value beyond any single entity's grasp. Yet Bitcoin transcends it, digital and dynamic where gold is physical and inert. At $100,000+ today, it's this blend—gold's scarcity with digital fluidity—that earns it the 'digital gold' label by many including the White an intuitive shorthand: finite and reliable like metal, but built for a borderless, tech-driven also stands out because of its programmability and portability. It can move at the speed of the internet, settle transactions with verification but, without intermediaries, and be stored securely with modern cryptography-based an increasingly digital and decentralised world, it aligns with how the next generations are thinking about money and ROLE OF REGULATIONRegulation remains pivotal. India's crypto policy—taxed but unregulated—needs clarity to unlock potential. During its G20 presidency in 2023, India chaired the formation of a crypto working group with the IMF, tasked with shaping global standards. While its recommendations will take their due course, we are seeing other jurisdictions including Russia, China, and Brazil from the BRICS, and other G20 nations led by the US, race ahead—not pausing for IMF's recent classification of Bitcoin as a capital asset further sharpens the need for direction. Clear regulation could bring both transparency and the required oversight to this emerging asset class—enabling responsible innovation while protecting a rising investor is essential for fostering institutional confidence and building a framework where Bitcoin can play a meaningful role in India's macroeconomic stands at a pivotal juncture. A measured Bitcoin strategy—perhaps a reserve pilot—could strengthen economic resilience and project modernity. As the US advances and nations like Bhutan adapt, India has a unique opportunity to lead.(Pradeep Bhandari is a national spokesperson of the Bharatiya Janata Party. Views expressed are personal.)- EndsMust Watch
New Indian Express
4 days ago
- New Indian Express
‘How can IPS officer have links with guilty constable?': Lokayukta special court judge
BENGALURU: 'Holding a high position in Karnataka Lokayukta, how an IPS officer (Srinath Joshi Mahadev) was having contact with a head constable (Ningappa) and meeting him in his office constantly knowing fully well that he has been dismissed from the service for misconduct? How did he (Joshi) share the screenshots of investments made in cryptocurrency and crypto wallet with the accused Ningappa if he is innocent and not part of the conspiracy or has no nexus with him,' Lokayukta special court judge KM Radhakrishna asked the counsel for Joshi, who has been relieved as SP from the Lokayukta office. The court shot off these posers while rejecting Joshi's anticipatory bail petition after hearing the Lokayukta police, who sought custodial interrogation of Joshi to unearth the truth. The court said the allegations against Joshi are serious and larger public interest is involved in the case. The High Court has stayed further proceedings of this crime till June 30. The prosecution argued that Joshi is accused of joining hands with Ningappa and conspiring with him to extract money from officials of various government departments. He was making phone calls to officials through Ningappa and illegally extracting money, threatening to raid them. He was investing the bribes in cryptocurrency wallets and Bitcoins with Ningappa's help, they said. Joshi's counsel argued that just because Ningappa was his subordinate for two years while he was an SP in Chitradurga, there is an apprehension about his links with Ningappa, even though his name was not in the complaint or FIR. Joshi is innocent but has been falsely implicated in the case which will affect his promotion in August, the counsel alleged. Except Ningappa's blind statement about his association with Joshi, no materials were found against him but there is apprehension of Joshi's arrest. Since he has been relieved from the Lokayukta and has reported to the parent department, there is no question of tampering with or threatening witnesses. If he is arrested by the Lokayukta police, Joshi's service record will be impacted, he argued. Manjunath Honnaiah Naik, Public Prosecutor, Karnataka Lokayukta, said Joshi had been in constant touch with Ningappa and there are call details records, CCTV footage of Lokayukta office and photos. Also Joshi had shared Whatsapp screenshots of cryptocurrency investments and crypto wallets with Ningappa, he argued.
Time Business News
5 days ago
- Business
- Time Business News
Experts Reveal Bitcoin Price Prediction for 2025: Boom or Bust?
Bitcoin continues to dominate headlines as investors, traders, and analysts debate what lies ahead for the world's most popular cryptocurrency. With the rise of Web3 and major investments flowing into blockchain technology, many are asking the big question: will Bitcoin boom in 2025, or are we headed for another bust? In this article, we dive into the latest bitcoin price prediction 2025 from top experts around the globe. We'll also explore how trends like Web3 startup funding news may impact Bitcoin's performance in the coming months. As of mid-2025, Bitcoin is trading in a highly volatile but overall upward trend. After a strong rebound from the lows of previous years, Bitcoin has regained investor confidence. Governments are introducing more crypto-friendly regulations, and mainstream financial institutions are offering Bitcoin investment products. In this environment, experts are split between extremely bullish forecasts and cautious warnings. The result? A wide range of predictions — from record highs to market corrections. There are several major factors influencing Bitcoin's price this year: Increased adoption: More businesses accept Bitcoin as payment. Web3 expansion: The rise in Web3 platforms increases Bitcoin's use in decentralized ecosystems. Regulatory clarity: Many countries have introduced rules that help legitimize crypto. Institutional investment: Big banks and funds are buying Bitcoin as a long-term asset. Supply and halving: With fewer Bitcoins being mined, scarcity is pushing demand up. All of these trends are shaping the current and future outlook of Bitcoin. Many crypto experts are confident that Bitcoin will hit new all-time highs by the end of 2025. Here's what they're saying: Prediction: $250,000 Reasoning: Draper believes increased adoption, especially among retailers and Web3 projects, will drive Bitcoin's value up dramatically. Prediction: $200,000 – $500,000 Reasoning: Wood's model focuses on institutional adoption and inflation fears. She argues Bitcoin will replace gold as a primary store of value. Prediction: $288,000 Reasoning: Based on Bitcoin's scarcity after the 2024 halving, PlanB sees a massive bull run in 2025. These predictions align with the surge in web3 startup funding news, where Bitcoin is often used as the backbone of many decentralized ecosystems. As more Web3 platforms integrate Bitcoin, demand could grow significantly. Not all experts are optimistic. Some believe Bitcoin may struggle or even crash under certain conditions. Prediction: $10,000 or less Reasoning: Schiff believes Bitcoin has no real value and sees it as a speculative bubble waiting to burst. Prediction: $42,000 Reasoning: JP Morgan expects high volatility and believes institutional interest is cooling off due to rising global interest rates. Prediction: Below $20,000 Reasoning: Roubini argues that Bitcoin's energy use and lack of regulatory control make it unsustainable long-term. These bearish views suggest that if adoption slows, or if governments crack down hard, Bitcoin could face another major correction. One of the most important trends in 2025 is the massive growth in Web3 startup funding news. Investors are pouring billions into decentralized apps, financial tools, gaming platforms, and NFT ecosystems. Here's how this trend could affect Bitcoin: Increased usage: Many Web3 platforms use Bitcoin for payments, staking, or savings. Cross-chain tools: New bridges are making Bitcoin easier to use across blockchains. Long-term confidence: As more real-world use cases develop, Bitcoin gains more value as a utility and asset. Because of these factors, many analysts believe Web3 growth will help push Bitcoin toward a bullish future. The second half of 2025 is filled with events that could influence Bitcoin's price: Global crypto regulations: Countries like the U.S., India, and the EU are expected to release new crypto laws. Bitcoin ETF performance: Several spot ETFs have launched and could attract big institutional capital. Web3 adoption: Startups in finance, healthcare, and gaming are integrating Bitcoin into their platforms. Geopolitical tensions: Global conflicts or inflation could drive people to buy Bitcoin as a safe haven. Each of these events will play a role in shaping the final outcome of the bitcoin price prediction 2025. For investors thinking about getting into Bitcoin now, here are a few things to consider: Do your research: Bitcoin is still a volatile asset. Learn before you invest. Think long term: Bitcoin has always been a long-term investment. Diversify: Don't put all your money into crypto — mix with other investments. Use safe platforms: Choose secure, regulated exchanges and wallets. Follow the news: Keep an eye on web3 startup funding news, as it can offer insights into Bitcoin's future use cases. The bitcoin price prediction 2025 is full of bold opinions — some seeing a boom to $250,000, while others warn of a bust below $20,000. The truth? It depends on how adoption continues, how the global economy shifts, and how well Web3 grows. What's clear is that Bitcoin remains at the center of digital innovation. The massive growth in web3 startup funding news shows us that blockchain is not just hype — it's being built into the foundations of finance, gaming, education, and more. So whether you're a believer, a skeptic, or just curious, now is a great time to watch the Bitcoin space closely. The second half of 2025 could be historic — and Bitcoin will likely be leading the way. TIME BUSINESS NEWS
Yahoo
5 days ago
- Business
- Yahoo
Anthony Pompliano strikes deal to create publicly-traded Bitcoin treasury company
Crypto investor and financial influencer Anthony Pompliano's Bitcoin-native financial service company has made plans to go public via a special-purpose acquisition company (SPAC). ProCap BTC will merge with Columbus Circle Capital Corp. I, a SPAC affiliated with financial services firm Cohen & Company Inc, according to a statement from Columbus Circle on Monday. As part of the agreement, the new company formed through the merger—ProCap Financial—will be headed by Pompliano, and establish a treasury with up to $1 billion in Bitcoin once the merger closes. The Bitcoin treasury will be used to generate revenue and profit through various strategies, according to the statement, although it did not disclose exactly what those would be. ProCap Financial plans to list on the Nasdaq after gaining regulatory approval from the Securities and Exchange Commission, Constantine Karides, chief legal counsel on the deal, told Fortune. 'Our objective is to develop a platform that will not only acquire Bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate revenue and profits from our Bitcoin holdings,' Pompliano said in a statement. Ahead of the merger, ProCap BTC and Columbus Circle Capital Corp. have raised more than $750 million in equity and debt financing from investors, including crypto prime brokerage FalconX, financial services company and investment company Off The Chain Capital. The merger announcement along with its crypto investment ambitions comes as a growing number of companies move to establish their own Bitcoin treasury. The trend was pioneered by Michael Saylor's Strategy, formerly Microstrategy, a veteran software company that pivoted to Bitcoin buying in 2020. Since then, the company has acquired nearly 600,000 Bitcoins, worth over $60 billion at its current price. Over the past five years, Strategy's stock price has increased more than 3,000% as the value of Bitcoin continues to appreciate. In April, Cantor Fitzgerald announced a plan to use a SPAC to create a Bitcoin acquisition company called Twenty One Capital in partnership with three other companies. Last month, the company behind President Donald Trump's social media platform Truth Social, Trump Media and Technology Group, announced a plan to buy $2.5 billion worth of Bitcoin. Even GameStop, the embattled video game retailer, has pivoted its investment strategy to include Bitcoin acquisitions. This story was originally featured on
