To The Moon

🌟🌟🌟Bitcoin reached the magical mark of USD 100,000 on Thursday December 5 after President Elect Donald Trump picked Paul Atkins to lead the SEC which regulates cryptocurrencies.

Paul Atkins is a Crypto advocate and former SEC commissioner and is expected to regulate the SEC with a lighter touch compared to Gary Gensler who will resign on Trump's Presidential Inauguration Day on January 20.

Bitcoin is up more than 130% year todate with the post election rally accounting for a significant portion of its gains.  Its performance far outspaces the S&P500 which is only up 28% year todate.

I have invested in 3 crypto mining stocks over the past 3 months as I believe that they are the picks and shovels of the crypto industry.  I am so happy to see that all of them have risen double digits. 

My best performing Crypto mining stock is Terawulf $TeraWulf Inc.(WULF)$  as I am up 71%.  Terawulf is up 5% on Friday trading and has skyrocketed 253% year todate.  Terawulf represents a new paradigm for cryptomining as it  mines Bitcoin by using more than 90% zero carbon energy.  Its goal is that for every kilowatt hour of energy it uses, it will come from a zero carbon energy source. 

Terawulf uses hydro, solar and nuclear energy sources to mine Bitcoin.

What I like about Terawulf is that it is a profitable company unlike many of its competitors.  For its latest Q3 24 Earnings, Terawulf's revenue increased to USD 27.1 million compared to previous year quarter.  Total self mining hashrate capacity of 10.0 EH/S as of September 30 2024, represents an increase of 100% compared to previous year quarter.

Terawulf also announced its Board of Directors' approval for USD 200 million inaugural share repurchase program.   This will certainly bring more value to shareholders.

Terawulf is actively expanding its HPC hosting infrastructure at Lake Mariner.  Notable milestones include the successful completion of a 2.5 MW HPC project which is designed to support both current and next generation GPU technologies.

IREN $Iris Energy Ltd(IREN)$  is my 2nd best performing Crypto mining stock as I am up 69%.  Iris Energy changed its name to IREN to better reflect its expanding next generation data center business.

IREN is up 8.7% on Friday trading and 15% in the past 5 days.  IREN has jumped a huge 126% year todate.

IREN is not only into Bitcoin Mining.  It also provides AI Cloud Services to its customers with 1896 Nvidia H100 and H200 GPUs. IREN uses 100% Renewable Energy from clean or renewable energy sources.  IREN has designed and purpose built infrastructure for high performance and power dense computing applications.

IREN's Bitcoin mining business is robust as it is about to achieve its 31 EH/S milestone and announced the acceleration of its growth trajectory to 50 EH/S in H1 2025.

For Q1 FY 25 IREN recorded a Bitcoin mining revenue of USD 49.6 million and a 28% year over year increase in AI Cloud revenue.

Wall Street Analysts are bullish on IREN with a Strong Buy rating, Average Target price of USD 19.00, an upside potential of 23%.

MARA, formerly known as Marathon Digital $Marathon Digital Holdings Inc(MARA)$  is the largest publicly traded crypto mining company with a market capitalisation of USD 8.51 billion.  MARA is the 2nd largest corporate Bitcoin holder next to $MicroStrategy(MSTR)$ 

MARA has spent more than USD 600 million to purchase Bitcoin in the last 2 months according to a filing with the SEC.  In the filing on December 2, MARA said that it acquired 6484 Bitcoin between October 1 and November 30.  The Bitcoin was purchased for USD 618.3 million in cash at an average price of USD 95,352 per BTC. 

In addition to that, MARA said that it intends to offer USD 700 million in convertible senior notes due 2031 in a private offering.   The proceeds will be used to purchase more Bitcoin and repurchase existing convertible notes due in 2026.

MARA is up 6% on Friday trading but down 1.4% in the past 5 days.  However MARA has risen 15% year todate.

I am currently up 52% in MARA which is great.

I believe that MARA, Terawulf and IREN have lots of exponential growth ahead especially when Donald Trump takes office on January 20.  The stage is set for Bitcoin to rise to new heights!  

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