Power Analysis

Hosted by Anthony Power & Bryce McNallie

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608

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Jun 2026

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About the show

Power Analysis is the premier destination for investors tracking the Bitcoin mining and AI infrastructure space. Hosted by Anthony Power (@cazenove_uk) — one of the most respected voices in Bitcoin mining stock analysis — alongside Bryce McNallie (@McnallieM), Power Analysis delivers in-depth company interviews, earnings breakdowns, sector news, and market commentary — direct from the executives building the next generation of digital infrastructure. Whether you're actively trading mining stocks, researching AI infrastructure plays, or just getting started — Power Analysis gives you the edge with timely, accurate coverage across the companies that matter most. New episodes dropping regularly. Subscribe and never miss a move. 🐦 Follow Anthony on X: x.com/cazenove_uk 🐦 Follow Bryce on X: x.com/McnallieM 📊 Anthony's Patreon: patreon.com/cw/Cazenove_UK 📊 Bryce's Patreon: patreon.com/c/McNallieMoney 🌐 poweranalysis.io For information and entertainment purposes only. Not financial advice.

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June 16, 2026Episode 60528 min

Top CIFR News Out Now, Latest AIBZ Stock Updates & CORZ Delivering More Sites!

We break down a volatile market day where Bitcoin pulls back but AI infrastructure stocks keep moving, signalling a real shift in how investors value the sector. We also unpack key takeaways from our interview with VanEck’s Matt Sigel, focusing on power-first strategies, portfolio risk, and which operators look built to execute. • Bitcoin price action and why we stay long-term focused • SpaceX IPO headlines and what they imply for AI compute demand • Matt Sigel’s Wall Street view on diversification and volatility control • Node ETF holdings as a lens on institutional positioning • Heat map winners and why mining stocks can decouple from Bitcoin • BitZero’s Nasdaq week, Norway and Finland buildout, and power-first thesis • Cipher Digital’s ERCOT hire, grid strategy, and $810M financing for HPC • Core Scientific site delivery updates and what the CoreWeave vote signalled Let us know in the comment section below what you thought of today's discussion, if you're currently holding any of these companies!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 16, 2026Episode 6041 hr 1 min

Wall St. vs. Main St. - Matthew Sigel, Head of Digital Assets Research at VanEck!

We sit down with VanEck digital assets researcher Matthew Sigel to pressure-test the Bitcoin cycle, the reality behind altcoin “adoption”, and why public markets still matter when disclosure is scarce. We then dig into the AI infrastructure land grab, where former Bitcoin miners try to turn power pipelines into durable HPC cash flows while investors manage hype, catalysts, and governance risk. • Matt’s career path from Bloomberg and CNBC to CFA-driven security analysis and crypto research • Why the late-2024 rally looked like relief rather than mass adoption, especially in altcoins • Volatility-adjusted ways to think about drawdowns, bottoms, and time-based Bitcoin accumulation • The mining slowdown, hash rate dynamics, and what could replace North American reinvestment • How miners convert a high cost of capital into value via cheaper GPU and data center financing • Time-to-power, deglobalization, and sovereign data as underpriced drivers of regional buildouts • What investors should discount: uncontracted megawatts versus signed leases and energization timelines • Deal structures that change risk, including powered-shell leases, triple net leases, and running GPUs • SpaceX as a potential catalyst through leases, acquisitions, and broader compute demand • Edge inference opportunities and the convergence of AI and Bitcoin supply chains • Skepticism on leveraged crypto “holding company” models and why NAV discounts can persist • Practical profit-taking signals, diversification, and ETF-style rebalancing to reduce volatility • Corporate governance and executive compensation trends improving from ‘grade F’ toward investable norms Let us know in the comments section below what you thought of today's discussion and Matt's insights!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 15, 2026Episode 60336 min

Tokenized AI Usage Is Rewriting Cloud Economics: IREN, SPCX, MSFT & GOOG Analysis!

We connect a green day in equities and crypto to the real mechanics behind miner profitability and the accelerating pivot toward AI infrastructure. We also pressure-test AI compute pricing by comparing GPU spot rates with blockbuster SpaceX contracts and the earlier IREN Microsoft deal, then ask what that means for strategy going forward. • Bitcoin trend and why sentiment flips fast in crypto markets • Difficulty adjustment and hash price jump as a short-term tailwind for miners • Why some miners plan to exit Bitcoin mining and redeploy power to HPC • MicroStrategy’s continued Bitcoin accumulation and growing USD reserve • Market reaction to headlines around an Iran deal and oil flow expectations • Mining stock heatmap highlights and what drives the biggest movers • Bit Digital and WhiteFiber discount to NAV as Ethereum rallies • IREN’s Nostrum acquisition adds 490MW in Spain and expands European footprint • Tokenized AI usage and why flat subscriptions may not last • SpaceX AI cloud compute contracts with Anthropic and Google broken into per-GPU economics • GPU spot pricing benchmarks for H100, H200, B200, B300 and GB300 ranges • Strategic debate: lock in colocation leases or build a neo cloud and charge hourly rates Let us know in the comment section below what you think of today’s discussion and IREN’s most recent press release! Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 12, 2026Episode 60239 min

SpaceX Takes Off, HUT, CRWV & AIBZ!

SpaceX starts trading in a historic debut, and we unpack what the first day move signals for investor demand, index inclusion, and the broader tech cycle. We also weigh a bold Bitcoin path to 250K and connect it to the accelerating race for AI compute, power, and data center capacity. • Bitcoin’s pullback to the mid-60K range and what it says about the current cycle • Mike Alfred’s 250K Bitcoin target and why timing matters • Miner stocks decoupling from Bitcoin and the market’s shifting attention to HPC • Anthropic’s push for gigawatt-scale data center leases and Google-backed payment guarantees • How market cap thresholds relate to Nasdaq 100 inclusion and sector visibility • BitZero leadership and board changes and what they enable operationally • HUT 8’s chair transition and why capital markets experience matters • Soluna’s behind-the-meter wind strategy and the Dorothy and Katy buildout roadmap • Iren’s Australia campus as a counterexample to NIMBY resistance • Why big IPOs often pull back and how lockups shape post-IPO supply Let us know in the comment section below if you got involved in the SpaceX IPO personally and your thoughts on the sector moving forward!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 11, 2026Episode 60142 min

Soluna Valuation Analysis, KEEL Highlights, HIVE, WYFI & SpaceX IPO!

We react to a rare green day across Bitcoin and AI infrastructure names, then dig into what the SpaceX IPO could do to liquidity, valuations, and capital rotation across the market. We also share fresh deal and forecast updates from Keel, Hive BuzzHPC, White Fiber, and Soluna, including a step-by-step valuation model tied to a 100MW AI buildout. • Bitcoin bounce and why sentiment flips fast • SpaceX IPO structure, demand versus supply and potential knock-on selling • SpaceX business units, Starlink profitability and AI infrastructure losses • Why miners keep mining while preparing the GPU switch to HPC • Heat map performance, profit taking and rotation between Bitcoin and AI stocks • Keel interview highlight and what “more confident” implies for deal timing • Labour constraints by region and why Pennsylvania looks advantaged • Hive BuzzHPC ARR ramp and the mix of CSP versus co-location growth • WhiteFiber’s new contracts, project finance structure and monetizing existing H200 GPUs • Hyperscaler versus enterprise customers, revenue per megawatt versus financing ease • Soluna CODI 2 RFP launch, MetroBlocks joint venture and a 100MW valuation framework • Sensitivity analysis on revenue per megawatt, EBITDA margin and implied share price impact Let us know in the comment section below if you're currently holding any of the companies mentioned and your thoughts on SpaceX IPO tomorrow!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 10, 2026Episode 60026 min

Keel Infrastructure - CEO, Ben Gagnon Q&A - $458M Convert Update!

We sit down with Ben Gagnon, CEO of Keel Infrastructure, right after the company’s $458M convertible raise to unpack why the timing matters and how the capital supports permitting, leasing and locking in expansion megawatts. We also press on deal confidence, disclosure timing, and why “not all megawatts are created equally” as AI demand pushes buyers from 2027 power toward 2028. • rationale for the convertible raise and why management calls it opportunistic and strategic • how Keel thinks about runway, liquidity and funding expansion capacity beyond the headline sites • what a near-billion-dollar balance sheet signals to potential tenants and partners • how the capped call works conceptually and why flexibility matters with convertibles • why management says it is “more confident” on three deals by year-end while staying inside NDAs • the plan to announce signed deals quickly rather than waiting for earnings timing • pros and cons of preleasing far out versus contracting closer to delivery • how token-based AI usage could change who pays premiums and how lease economics evolve • labour and construction context, with Pennsylvania positioned differently from overheated markets Let us know in the comment section below what you thought about this big announcement from Kiel and if you're currently holding shares!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 10, 2026Episode 59943 min

Applied Digital Valuation Analysis, KEEL Convert & HUT News!

We break down how AI infrastructure is pulling attention and capital, from token-priced AI subscriptions to hyperscaler demand for long-term compute capacity. We compare how different players finance data center builds and then walk through a detailed valuation model for Applied Digital’s contracted megawatts. • Bitcoin’s price action tied to macro risk and tech sentiment shifts • AI subscriptions moving toward token billing and utility-style pricing • SpaceX compute targets used to frame demand and valuation expectations • Heat map takeaway showing AI-linked stocks outperforming Bitcoin • Financing toolkit explained: senior secured notes vs converts vs dilution • HUT 8 Beacon Point terms and what investment grade tenants unlock • Keel’s convertible raise, cap call cost, and why the client matters • Keel pipeline upside, deal timing, and why one contract can re-rate a stock • Applied Digital’s contracted portfolio through 2028 and revenue per megawatt • Applied’s 7% senior secured notes and how contract quality affects capital costs • Applied valuation analysis and what might already be priced into shares Let us know in the comments section below if you're currently holding shares of applied and what you thought about today's episode!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 9, 2026Episode 59849 min

SLNH News Out, CIFR Prices Notes & Latest FUFU and HIVE News!

We break down a brutal market sell-off and what it reveals about volatility in Bitcoin and crypto mining stocks, then zoom in on the companies using power strategy and long-term HPC contracts to build more predictable revenue. We also share why miners are racing away from thin mining margins toward AI data centers, GPU deployments, and financed infrastructure deals. • bitcoin price action and stock volatility, why we keep cash ready • profit-taking discipline and the case for non-correlated assets • BitFuFu’s hybrid model, cloud mining margins and a jump in self-mining output • Cipher’s Stingray momentum, AWS as client and 6% financing implications • Hive’s GPU expansion plan, ARR targets through 2026 to 2028 and what it takes to reach them • Core Scientific build-out progress and why mining profitability keeps getting squeezed by difficulty • Soluna’s vertical integration, site pipeline and the Metrobloks JV for a 350MW AI/HPC campus • Soluna monthly production metrics, hosted hash growth and what matters as HPC ramps Let us know in the comment section below how you're feeling about the market in general and your top pick in the space currently!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 8, 2026Episode 59736 min

KEEL & CIFR Valuation Analysis & Top NBIS News Today!

Markets snap back to green as we track Bitcoin’s rebound and why crypto equities can move hard even on modest price changes. We then dig into AI data center deal math, using fresh disclosures to stress test what megawatts could mean for Cipher Digital and Keel Infrastructure share price upside. • Bitcoin recovery, cycle expectations, and why daily swings matter less after multiple cycles • Michael Saylor and Strategy’s headline moves, plus what treasury behaviour signals to the market • Sector heat map, standout movers, and what a broad risk-on day can hide • Nebius UK expansion with Nvidia infrastructure and what real enterprise workloads imply for demand • Bitdeer executive departures and why talent changes matter during an AI pivot • Cipher Digital Stingray compute details, AWS as tenant, $810M secured note, lease structure and guarantees • NOI vs EBITDA and why margin definitions change valuation outcomes • Valuation table walk-through for Stingray, including capex per MW, multiples, and sensitivity ranges • Keel Moses Lake speculation, nearby site context, and a 14MW example model with share price sensitivity Let us know in the comment section below if you're holding any of the companies discussed and what you think of Anthony's valuation analysis tables!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com

June 5, 2026Episode 59619 min

KEEL Convertible News, HUT Note Pricing & BITZ Uplist!

We watch a brutal sell-off slam Bitcoin, miners, and traditional assets at the same time, then zoom out to the cycle context and why profit-taking keeps you in the game. We also dig into why BitZero stays green, how major infrastructure financing is evolving for Hut 8 and Keel, and what these deals signal for AI data centers and HPC demand. • broad risk-off sell-off across Bitcoin, crypto equities, gold, and oil • Bitcoin below $60K, drawdowns, and the four-year cycle framing • why taking profits in volatile names creates optionality • miner heat map reality check and how Bitcoin can lag miners • BitZero momentum, IPO context, and why the Nasdaq uplist matters • BitZero data center footprint in North America and Scandinavia • Norway AI lease details, power scale, revenue potential, and margin targets • Hut 8 Beacon Point senior notes, non-recourse structure, and pass-through costs • Keel convertible raise, conversion terms, and funding a multi-site pipelineLet us know in the comment section below how you're feeling today!Anthonys Info:Website:https://www.powermininganalysis.comX: https://twitter.com/cazenove_ukPatreon:https://www.patreon.com/Cazenove_UKBryce's Info:X:https://twitter.com/McnallieMPatreon:https://www.patreon.com/McNallieMoneyMerch:https://shop.mcnalliemoney.com/Website:https://www.mcnalliemoney.comBusiness Inquiries:Email - powermininganalysis@gmail.com