Headlines By Blockspace

Want to get these headlines in real time? Join our Telegram group!

Strategy logs its 80th Bitcoin purchase, adds 850 BTC after tapping STRF and MSTR ATM

Strategy (MSTR) announced its 80th bitcoin purchase on Monday, acquiring 850 BTC between September 15–21 for $99.7 million at an average price of $117,344 per BTC. - link

Strive to acquire Semler Scientific at 210% premium, adds 5,816 Bitcoin

According to a September 22 company press release, Strive (ASST) entered into a definitive agreement to acquire Semler Scientific (SMLR) in an all-stock transaction at a 210% premium, exchanging 21.05 Strive Class A shares for each Semler common share, and simultaneously purchased 5,816 BTC for $675 million at an average $116,047 per bitcoin.- link 

Digital assets draw $1.9 billion as Fed’s “Hawkish Cut” spurs inflows: CoinShares

Digital asset investment products saw $1.9 billion of inflows last week, marking a rebound after months of outflows in the wake of the US Federal Reserve’s “hawkish cut” to interest rates. Investors initially hesitated following the September rate reduction, but $746 million flowed in on Thursday and Friday as markets digested the move. - link

IREN doubles GPU fleet and raises ARR target to $500 million after stock price surge

IREN has expanded its AI Cloud capacity to approximately 23,000 GPUs and lifted its annualized run-rate revenue target for the service to $500 million by the end of Q1 2026, according to a company press release. — link

AI’s cash burn problem

In the Gospel of Matthew’s Parable of the Talents, a master gives three servants talents (currency), 5 for the first servant, 3 for the second, and 1 for the third. The first two invest their talents, doubling their money; the third buries his allowance, making it inert and unprofitable. 

The master praises the thrifty two and rebukes the timorous one, with the core lesson being never let opportunities, responsibilities, and resources go to waste. 

But what happens when you invest and don’t earn anything to show for it (yet)? Welcome to the AI arms race. 

ChatGPT, according to a JP Morgan note, is on track for $13 billion in ARR as of August, and the company is offering a secondary equity offering that values the AI frontrunner at $500 billion. 

But OpenAI didn’t reach that valuation from earnings. It achieved it from spending. 

OpenAI projects that it will burn $8 billion in 2025 alone on operating activities, and it expects this to balloon to $115 billion for total spend through 2029. 

In another JPMorgan note, research analysts forecast that OpenAI won’t see profitability until 2029, but that’s under prior 4-year cash burn guidance, which OpenAI has since revised upward by ~$80 billion to the current $115 billion figure.

Put simply, the electro-silicon alchemy that enlivens our ChatGPT responses comes at cost – a hefty one that is outstripping profits. And this is not just an OpenAI problem – it’s an AI problem.

Luxor Order Book: New Look, Seamless Flow

The Hashrate Order Book platform just got a major upgrade — with a streamlined UI, simplified order placement, and direct integration with Luxor’s mining pool.

→ Start trading now