Mining giants Core Scientific, Bitfarms, Soluna Holdings, and MARA are strategically pivoting toward high-performance computing while navigating post-halving challenges amid Bitcoin trading near $120,000 and Ethereum surging 50% monthly.
• Core Scientific reported $78.6M quarterly revenue with positive adjusted EBITDA of $21.5M despite posting a $936M net loss (primarily from non-cash warrant valuation)
• Pending CoreWeave transaction valued at approximately $7.72B based on current share price of $141.65, down from initial $9B valuation
• Bitfarms secured $300M debt financing for HPC/AI initiatives while exiting South America operations to focus on North American opportunities
• Soluna announced expanded partnership with Galaxy Digital for 48MW Bitcoin mining deployment at Project Cati 1
• MARA acquiring 64% stake in EDF subsidiary Exxon (HPC/cloud provider) for $168M, marking definitive entry into AI infrastructure
• Bitcoin miners increasingly diversifying beyond mining to leverage expertise in power infrastructure management for AI applications
• Ethereum's dramatic price increase driven by institutional treasury adoption and ATM issuances
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