Leaning Tight: Volatility and credit stay calm, but the Fed just hiked last week; inflation is sticky and rising, and margin leverage is building. That mix stays restrictive for high-beta names even with markets steady.
Market Performance
It was a mixed week for the sector: 48 of the names we track fell versus 38 that rose (median -0.5%). CANG (46.99%), HIVE (12.37%) and RIOT (11.76%) led top gains. Bitcoin mining Index had 6.2% gains over the last 5 days.
Major Company Updates
- CoreWeave prices upsized $3.7 billion convertible senior notes offering (link)
- CleanSpark, Inc. announces pricing of $2.276 billion of senior secured notes (link)
- CoreWeave continues to contract new compute capacity at higher prices (link)
- Soluna secures conditional base load position for Project Dorothy's 100 MW in ERCOT Batch Zero (link)
- HIVE's BUZZ HPC partners with ProCogia to deliver end-to-end sovereign AI to enterprise and SMB clients across Canada, the U.S., and Europe (link)
As always, feel free to drop us a message for any suggestions, feedback, or just to say hi.
Thanks for being part of our journey - see you next week!
Cindy & the Ziven Team 馃挏