Michael D'Alleva

[Michael D'Alleva @The_Daley_Show]

@MintzerMiguel Keep up the great work Mike! Thanks for your time and effort

[Ozoon @Ozoon_CA]

The exact moment Chris Kreider knew he was done in Anaheim

[Michael D'Alleva @The_Daley_Show]

@ReddyTCG They got 6 guys on the ice!?

[Michael D'Alleva @The_Daley_Show]

@chinoalemano @TheKamaHsutra Thanks for the Update Chino! It’s sucks to hear but its great you found some kind of news

[ChinoAleman @chinoalemano]

https://t.co/9c8D5U2xwX

[Kamahsutra @TheKamaHsutra]

A month ago, I had profiled $BITF's Moses Lake site as it was the site closet to monetization. It was exactly a month ago, and going into tomorrow's spaces with @captainkeel, I thought it would be appropriate to profile the biggest site in their portfolio that is closest to monetization.

The latest $100mil credit facility from Macquarie is already earmarked for substation building, and one can only guess how much of the $500mil from the convertibles offering will be going into building out this site. In my estimation there will be a good chunk of that convertibles money going into Panther Creek soon.

Depending on where Scrubgrass goes in terms of MW (1 GW!?!!?) capacity, Panther Creek will be the flagship campus offering from BITF for the more immediate future. This has been a site that I have identified as a high potential AI/HPC site since it was acquired from $SDIG.
https://t.co/Ni3QjVH5NM

On the latest $BITF presentation deck, Panther Creek is being billed as a 350-410 MW site, sitting on 296 acres. This would put the acres/MW ratio somewhere between 0.722 and 0.845, which would give it ample land to build an AI/HPC DC campus.

The land where the Panther Creek Power Plant and mining facilities are located on are under 2 different parcels (#1 and #2 on the image), both under the listed owner of PANTHER CREEK POWER OPERATING LLC and total around 117.58 acres. None of the adjacent plots of land are currently under the same owner on title. If the site is billed as 296 acres, then there is another 178.42 acres to be accounted for that will be under the ownership of BITF.

To get to 296 acres, then the site will consist of parcels 1, 2, 3, 4, and one of 5 or 6. All of the parcels of land are currently zoned as industrial use and will be ready for use as is.

Parcels 3, 4, and 5 all are currently listed as being owned by KOVATCH ENTERPRISES INC., while 6 is listed as owned by Dean Bucks, with the following acrages listed:

3 - 94.37 Acres
4 - 78.45 Acres
5 - 5.17 Acres
6 - 6.14 Acres

If using parcels 1, 2, 3, 4, and 5 the total acreage will 295.57. If using parcels 1, 2, 3, 4, and 6 the total acreage will be 296.54. My guess it would be the former at 295.57 since they would be dealing with the same owner KOVATCH ENTERPRISES INC.

Looking at the transmission lines, there is currently a 115kV line running into the site from the grid. This will get it roughly 300 MW max if there is multi-feed substation built on site, adding on the 80-95 MW on site generation and it gets to the 350-410 MW range that $BITF has on the slide. However, if the site is to go beyond that range, then there would be some form of upgraded transmission lines or more transmission lines coming into the site. This would be a question we can ask Ben on the upcoming spaces.

With the recent funding that $BITF has acquired over the past week, it would be very exciting to see what will happen to the Panther Creek site over the next 12 months. Could any of the timelines be pulled forward? Was the massive funding a possible signal of this? All questions we can ask Ben... if he's willing to answer them. 😅

[Dulce @litigious_dulce]

Like many others, I am shocked by $BITF 's recent price action. However, what surprises me is not the number, but the speed at which we reached the number. BITF was fundamentally undervalued, and for months no one cared. Now, in almost a blink of an eye, the market cap more than doubled!

Many may be hesitant to chase, and I certainly don't encourage anyone to take risks they can't handle. But let's remember: the value of a megawatt is about $10 million, and BITF has over 1 GW in Pennsylvania alone... That means the question investors must ask is whether they believe BITF can execute.

In the end, we are supposed to make investment decisions based on expected value, which is a function of risk, reward, and probability. The more BITF pumps, the worse the risk/reward ratio; however, the probability of BITF executing remains the same. Thus, it makes the most sense to buy early in the run (as opposed to much later), UNLESS you plan to buy post-confirmation (e.g., the closing of a deal).

My opinion is that, in view of $IREN and $CIFR, it would make sense for BITF to have about a $2.5-3 billion market cap (i.e., I think it's a reasonable to buy BITF under $4). This is based on BITF 1) operating 20 EH of efficient ASICs, 2) owning very large and valuable sites suitable for AI/HPC, and 3) preparing for the AI/HPC pivot about 18 months ago. That means the only real difference between BITF and CIFR is the quality of leadership, which obviously affects the probability of execution.

If you believe, like I do, that the demand for infrastructure is overwhelming, then it follows that BITF should succeed even if the company is not as well-run as CIFR. Nevertheless, for me to be truly excited about BITF's long-term potential, I must be convinced that BITF is comprised of excellent people.

For this upcoming space with @captainkeel, I think it's in everyone's best interest to listen without any bias. We should not underestimate Ben Gagnon just because he is relatively young. By extension, we should not assume that because BITF made major strategic blunders in the past they must continue to make major strategic blunders in the future. That said, I have every intention of listening critically--because every dollar I spend on BITF is a dollar I'm not spending on IREN.

[Jo @JoJoFromJerz]

She’s so fucking close. 😂😂

[Spencer Hakimian @SpencerHakimian]

"We're not doing business with China right now. We lost $1T with China last year, so if you're not gonna do business with them, you're not gonna lose $1T." - Trump

The first simultaneously illiterate and innumerate President.

[BarDown @BarDown]

Avs GM Chris MacFarland watching Mikko Rantanen take over game 7.

[Dave Portnoy @stoolpresidente]

What’s that old expression? Don’t piss down my back and tell me it’s raining? Well that applies here. The stock market is a direct reflection of Trumps 1st 100 days in office. Doesn’t mean it won’t get better and that we don’t need to be patient, but this is his market not Bidens

[Saifedean Ammous @saifedean]

The Art of the Cave

Trump fought the bond market and the bond market won

Since getting into office, Trump and Bessent have relentlessly spoken about wanting to bring interest rates down and wanting to manage the US debt sustainably. Countless Trump-aligned economists and influencers explained that the goal of their tariffs was to bring bond yields down, even if it meant crashing the stock market.

The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability. But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market. It is cargo cult economics: people observe a reverse correlation between bonds and stocks and so assume that anything that crashes stocks must boost bonds. But there's no reason to suppose that the normal gyrations of market participants managing risk and allocations would hold when the government sabotages the financials of all the country's businesses with reckless tariffs. Ultimately, bond yields are a function of the ability of the government to pay its debts. As its credit-worthiness declines, yields rise. If taxpayers lose a lot of wealth, they pay less taxes, and the government's fiscal situation deteriorates. Tariffs made American businesses start revising profit estimates, consider downsizing, and reversing business plans, and crashed their stocks.

As bond yields began to rise, panic clearly took over the White House and Trump had to reverse course. You can safely and completely ignore anyone presenting this as a triumph or trying to rationalize it as some 'Art of the Deal' genius move. These people seem to think the bond market is Hillary Clinton or Rosie O'Donnell or some CNN bimbo. The rise in yields was the exact opposite of what the administration wanted, and reversing course on the tariffs half a day after they go into effect was absolutely devastating for Trump's negotiating position. All of the talk about China buckling under the threat of Trump now sounds hilarious in retrospect, when Trump could not keep his tariffs in place for 2 days. He later capitulated further, exempting a large number of high tech goods, many of which come from China. The White House, like a delusional ex-lover, repeatedly said China needs to reach out to them to strike a deal, while China showed absolutely no inclination to do so. 

Implications:

1- The US fiscal situation is bad, and Trump's ideas for improving it just spooked the bond markets and it will take something serious to get it to settle down again. Full capitulation might not be enough. 

2- Treasury bonds being the ultimate safe haven is the basic foundation of the global fiat financial system, and it was what Trump was counting on to reduce the US debt burden. This reputation has been taking a beating over the last five years of bond declines, but the past few weeks were probably the biggest punch it’s taken yet. It failed to act as a safe haven, and it failed to act in the way the administration had been counting on.

3- This situation will not be fixed through cutting government spending. Musk just said he expects DOGE to save USG $150b in the first year, practically a rounding error. Given that they've vigorously gone after USAID (under 1% of the federal budget) but no major government department like the DoD, Federal Reserve, or entitlements, DOGE looks less like a fiscal responsibility program and a lot more like a political project targeting the regime's enemies.

(Continues in next tweet)

[Mark Carney @MarkJCarney]

Elbows up, Canada.

[Justin Trudeau @JustinTrudeau]

The moment U.S. tariffs came into effect this morning, so did the Canadian response.

Canada will be implementing 25% tariffs against $155 billion of American products.

Starting with $30 billion worth of goods immediately, and the remaining $125 billion in 21 days’ time.

[Reddy @ReddyTCG]

🔥🔥GIVEAWAY🔥🔥

I've been wanting to do another giveaway for a minute, so here's something small for you guys. Win a set of Gen 1 and 2 eeveelution EXs from Terastal Festival. All you've gotta do is ;

1. Follow me @ReddyTCG
2. Repost

Open to US & 🇨🇦. I'll pick a winner Sunday Feb. 16.

Good luck!

[MeidasTouch @MeidasTouch]

So lets recap:

- Trump announces tariffs.
- Allies turn against the U.S., launch boycotts on U.S. products and boo us at events.
- Markets nosedive.
- Trump caves.

The "deals":
- Mexico agrees to do the same things they always do at the border to help the U.S. (including under Biden)—but ALSO get Trump to agree to work to stop weapons trafficking from the U.S.-Mexico.
- Trudeau agrees to do the same things they always do to help the U.S., but also says he'll name a 'fentanyl czar' (despite the fact that barely any fentanyl at all comes from Canada to the U.S.)

[Acyn @Acyn]

Collins: He said that Canada is going to be implementing a $1.3 billion border plan, where they talk about reinforcing the border. I should note that's actually something that was announced back in December

[Michael D'Alleva @The_Daley_Show]

@powermining_BTC @cazenove_uk @McnallieM @Freedom_By_40 @Charge_Stack @BTC_Bella69420 @Umbisam @AtradeZ_ @theBTCMiningGuy @sebastian_ski IREN
CLSK
BITF
BTC 119,000

[Michael D'Alleva @The_Daley_Show]

@McnallieM @Core_Scientific @dmgblockchain @bitdeer @BitDigital_BTBT @Hut8Corp @powermining_BTC @cazenove_uk @Freedom_By_40 @stckpkr7000 @AtradeZ_ @theBTCMiningGuy @BTC_Bella69420 @Umbisam @sebastian_ski That’s great Bryce! Have you guys tried to reach out to Ben to get some kind of update or clarity on Bitfarms’s issues?

[Jeff Walton @PunterJeff]

🟩👆🏼