🗓️ BITCOIN MINING Day 10 ⛏️🪙 MARA blasts off to 47 🚀 CLSK drops to 18 ⏬ ABTC dips to 8 ⬇️ IREN pulls back to 6 ↘️ CORZ keeps 2 ⏹️ BTDR daily avg 29 (Last 6/5) 📈 Hash steady at 800 🛑 Difficulty set to drop 10.5% Sunday Note: Self mining only 🪙 Doesn’t include hosting or spot purchases 💰 Additional photos will be in the replies. 06/10: @MARA: 47.25 ⛏️ @CleanSpark_Inc: 18.54 ⛏️ @ABTC: 8.86 ⛏️ @IREN_Ltd: 6.73 ⛏️ @Core_Scientific: 2.57 ⛏️ @bitdeer 29.33 avg ⛏️(as of 6/5) Global Hash: 852EH⚡️ Monthly Totals: MARA: 247.97 🥇 CLSK: 200.31 🥈 BTDR: 146.64 (as of 6/5)🥉 ABTC: 95.23 4️⃣ IREN: 76.37 5️⃣ CORZ: 25.99 6️⃣ $CLSK $MARA $IREN $BTC $ABTC $CORZ $BTDR

$MARA is trading at a $4.8B market cap. Here is the math the market refuses to do: → 35,303 BTC in treasury = ~$2.2B (even with Bitcoin down 50% from ATH). → That leaves ~$2.6B for the ENTIRE operating company. → 72.2 EH/s of hash rate 1.3 GW of energized power infrastructure roughly covers that on its own. Which means the market is pricing at **ZERO**: ⚡ Long Ridge - 505 MW vertically integrated power campus, ~$144M annualized EBITDA, 76% contracted, ~$15/MWh operating cost, path to 1 GW. Closing hurdle cleared 48 hours ago. 🇫🇷 Exaion - 64% of EDF's nuclear-powered AI compute arm. Sovereign French energy access. Unreplicable at any price. 🏗️ Starwood JV - hyperscale campus development where Starwood carries the capex, not MARA's balance sheet. 🤝 And management, on the record: "advanced conversations with multiple prospective tenants across multiple sites." Inbound interest from investment-grade hyperscalers. ~90% of owned capacity in active tenant discussions. 2.2 GW at closing. In PJM. In 2026. While hyperscalers fight over electrons. Before the bears scream "debt", converts were cut 30% in ONE quarter. $1B retired at 91 cents on the dollar. One signed lease changes the entire equation. IREN traded like this once. Ask the shorts how that ended.

$CIFR Cipher revealed $AMZN AWS as the tenant behind its Stingray data center project The deal includes a 15-year triple-net lease, nearly 100% NOI margins, and $2 billion in contracted payments These are some of the strongest AI data center economics we’ve seen disclosed

Don’t fall for false narratives - Equity bull market intact - Crypto only way for tokenization - Crypto key in a machine to machine AI world

I’ll say this once: I STILL can’t believe some people are bearish $IREN. Nick Giles, B. Riley Securities just raised their PT on $IREN from $88 → $96. Nick is ranked #63 out of 12.190 analysts on TipRanks with a succes rate on 76%. Demand for GPU power has NEVER been bigger. In my opinion it’s not the time to be bearish. It’s almost the same as believing AI will not become a thing. That’s not gonna happen with all that CAPEX being spend. AI is here to stay. We are in early innings. Power is EVERYTHING. -BP Please note, as always: this is my personal opinion and not financial advice.

If we were actually in a euphoric AI bubble we’d see $IREN repriced to $500 TODAY, based on its secured power’s revenue *potential* — yes in 2026. That’s what euphoria and real bubble looks like. Today’s prices tell me it’s still early days for $IREN and it’s still misunderstood; the stock is still building momentum and the business is still proving itself as both a developer of AI data centers and as a Cloud Service Provider… with the potential to be a leader in the market. The stock seems to have many years to run… and multiple periods of euphoria to look forward to… but if $IREN magically reprices to $500 in 2026… would I take profits… yes. Wake me up when the bubble accelerates 🥱 Or should I say: A C C E C E L E R E R A T E

The AI neocloud category is one of the most misunderstood sectors of the AI infrastructure trade: 1. $MARA Mara (AI Sovereignty) American hyperscalers have a legal problem serving foreign governments. The CLOUD Act means data stored on AWS or Azure is potentially accessible to the U.S. government and foreign nations are not okay with that. MARA acquired a 64% stake in Exaion, a subsidiary of French state-owned energy giant EDF, specifically to serve governments and enterprises that need AI infrastructure their own governments actually control. That is a customer base $AMZN AWS cannot legally compete for. And once its Long Ridge acquisition closes later this year, MARA’s operational and development footprint reaches roughly 2.2 GW. This is no longer a Bitcoin miner but an AI play hiding in plain sight. 2. $NVT nVent (The Vera Rubin Buildout) nVent is not a neocloud but you cannot build one without it. The entire Vera Rubin generation is defined by one design choice: $NVDA NVIDIA made the NVL72 racks 100% liquid cooled. That single decision turns nVent into a direct beneficiary of every Rubin rack deployed, because each one needs exactly what nVent makes: liquid cooling hardware and rack level power protection. As Rubin ramps through the second half of 2026, that demand flows straight into nVent’s order book, which hit a record $2.6 billion last quarter. It compounds quietly at 20% operating margins while the rest of the market chases the headline names. 3. $CRWV CoreWeave (The Essential Cloud) When companies build and deploy AI models they need somewhere to run them. CoreWeave is becoming the place the best ones go. Vera Rubin is NVIDIA’s next generation chip delivering roughly five times the inference performance of what exists today and CoreWeave is among the very first to deploy it at scale. That early access is how you end up with nearly $100 billion in contracted backlog from $META Meta, Anthropic and Mistral. They are not signing decade long commitments to a GPU rental company. They are betting on the infrastructure layer the AI economy runs on. 4. $IREN IREN (Energy-to-Compute) The thing most people miss about AI infrastructure is that GPUs are not the bottleneck. Power is. You can order chips today and wait years for the electricity to run them. IREN has secured 4.5 GW of power globally and needs only a fraction to hit near term targets. Microsoft is already a customer. NVIDIA signed a landmark partnership. And the Mirantis acquisition brought in hundreds of engineers with a decade of enterprise cloud experience across over a thousand customers. The runway here is genuinely difficult to overstate.

Reliable power is becoming one of the defining constraints in AI infrastructure. Our latest blog explains why MARA entered into a definitive agreement to acquire Long Ridge Energy & Power, and how the transaction supports the next phase of our digital infrastructure platform.

Interesting commentary on CIFR from Cantor Fitzgerald today

This runs contrary to the current media narrative, but I can tell you that the incredible folks that have front row, actual real-world experience of our team, our commitment and our actions and not just hyperbole, are extremely proud to call @CleanSpark_Inc their partner. It’s no wonder they’re so enthusiastic about us bringing a massive new compute opportunity home.

Tremendous honor for @CleanSpark_Inc ‘s very own president and CFO, @GaryVec to be appointed by the comptroller to oversee Texas’ strategic Bitcoin reserve. Over the past several years, Gary has been an incredible leader, advocate and resource for our team, always demonstrating impeccable integrity. I love to see it publicly recognized. Congrats to you, my friend. comptroller.texas.gov/about/…

$IREN/BTC Major outperformance in bitcoin terms. Looks like $IREN is decoupling from Bitcoin… more guac candles loading $100 soon… $200 is around the corner

𝐓𝐡𝐫𝐞𝐞 𝐋𝐚𝐲𝐞𝐫𝐬. 𝐎𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝𝐢𝐧𝐠 𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞. 𝐓𝐡𝐞 𝐈𝐑𝐄𝐍 𝐓𝐡𝐞𝐬𝐢𝐬. There's been a lot happening at IREN recently. Expansion across North America, Europe and Asia-Pacific. The NVIDIA partnership. The Mirantis acquisition. New GPU deployments. New customer discussions. A growing global footprint. Underneath all of it is a fairly simple view of where the world is heading, and a deliberate strategy for how we position IREN within it. That strategy is built on three layers. Together, they compound into a structural advantage that gets harder to replicate every quarter we execute. Layer 1: Physical infrastructure. Power, land, substations, data centers, cooling. The foundation that everything else sits on. Layer 2: Compute infrastructure. The GPUs, servers and networking that go inside those buildings. Deployed at scale. Generating revenue. Building execution track record. Layer 3: Software and operational capability. The orchestration, deployment tooling and enterprise expertise that makes the first two layers work harder for customers, and opens the door to a broader, higher-value market over time. Layers 1 and 2 are where the overwhelming majority of IREN's value is being created today. Layer 3 is where that advantage compounds further over time, but only because Layers 1 and 2 are built, owned and controlled at scale by IREN, not subscale nor contracted from a third party. Think of Amazon. They didn't win e-commerce by building a great website. They won it by controlling the fulfilment infrastructure at a scale nobody else could replicate. The foundation you don't control becomes the ceiling on your business. That is exactly how we think about IREN. The physical infrastructure - the land, the power, the substations, the data centers - is owned and controlled by us. The compute deployed into it generates the revenue and execution track record. And the software, orchestration and enterprise capability we are more methodically building on top is what turns the total product into a vertically integrated AI Cloud platform that compounds over time and deepens into a competitive moat. AI is still early. The bottleneck is increasingly physical. And we have spent eight years building the foundations.

Don't forget to set a reminder for Tuesday’s MARA Executive Fireside. The MARA team will be live on @XSpaces at 2:00 p.m. ET for a Q&A moderated by @RobSamuelsIR and @OGAdvisors. Set your reminder: x.com/i/spaces/1qKDzPZwdAoJV…

$IREN CEO Dan Roberts just explained why vertical integration is the edge in AI cloud: • Framed IREN in three layers: physical infrastructure, compute infrastructure & software/operations • Pushed back on asset-light neoclouds like $NBIS & $CRWV arguing the best sites & power are gone • $NVDA chose $IREN for DSX at gigawatt scale because IREN controls the site, power, data centers, compute & operations •The Australia pipeline with direct submarine fiber to Japan & Singapore gives IREN a stronger Asia-Pacific footprint for inference & sovereignty demand

🚨BREAKING🚨 $IREN ADDED TO RUSSELL 3000 🔥🔥🔥 Other additions: 1. $CRWV 2. $DLO 3. $FROG 4. $KEEL 5. $NUAI 6. $ONDS 7. $OPEN 8. $SLNH 9. $SYM

Leopold Aschenbrenner wife is chief of staff at Anthropic… and Leo is the 2nd largest holder of $IREN deal wen ?

MARA is going live on X Spaces this Tuesday. Join Fred Thiel, Salman Khan, and Duncan Dickerson for an Executive Fireside on topics related to the Q1 2026 Shareholder Letter. Tap the reply below to set your reminder.

VITALIK BUTERIN OUTLINES NEW ETHEREUM $ETH PRIVACY UPGRADES AIMED AT MAKING PRIVATE TRANSACTIONS A NATIVE FEATURE OF THE NETWORK INCLUDES ACCOUNT ABSTRACTION, FOCIL, KEYED NONCES, AND KOHAKU-BASED ACCESS LAYER TOOLS