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The US Army's Drone Deal, MARA's New Crypto Bet, And Hedge Funds Buying Bitcoin Miners

The US Army's Drone Deal, MARA's New Crypto Bet, And Hedge Funds Buying Bitcoin Miners

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November 19, 2024

The United States Army Cuts New Drone Deal With Red Cat Holdings

Red Cat Holdings (NASDAQ: RCAT) has won the United States Army Short Range Reconnaissance Program of Record contract to supply them with drone systems. Red Cat has developed next generation technology to be able to use drones for surveillance and reconnaissance missions, with a focus on real time data and being able to operate in both daylight and night conditions.

The New Cryptocurrency Quietly Being Mined By Marathon Digital

Marathon Digital (NASDAQ: MARA) has been mining cryptocurrency Kaspa, which has slowly begun to build into a meaningful digital asset holding. Kaspa is a proof-of-work cryptocurrency which is highly efficient for transactions and has seen a massive surge in trading volume and user adoption of late, in large part due to the rapid rise in Kaspa mining operations and the successful listings onto many large crypto exchanges.

Legendary Hedge Funds Are Now Buying Bitcoin Miners

Legendary hedge fund Lone Pine Capital has begun buying publicly listed Bitcoin mining companies according to new filings with the United States Securities and Exchange Commission. The $12 billion AUM fund made notable purchases in Hut 8 (NASDAQ: HUT), TeraWulf (NASDAQ: WULF), Iris Energy (NASDAQ:IREN), and Bitdeer Technologies (NASDAQ: BTDR).

The Sprint

Taiwan Semiconductor Manufacturing Company (NYSE: TSM) landed $6.6 billion in new funding from the United States government through the CHIPS Act.
Bloom Energy (NYSE: BE) has a new deal with American Electric Power (NASDAQ: AEP) to leverage their fuel cell technology to provide electricity to data centres being used for artificial intelligence workloads.
IBM (NYSE: IBM) and the UFC, a subsidiary of TKO Group (NYSE: TKO), have entered into a new partnership focused on leveraging IBM’s artificial intelligence models for the UFC’s live events and pay per view streaming.
Core Scientific (NASDAQ: CORZ) and CoreWeave have officially begun construction of their new data centre located in Port Muskogee, Oklahoma.
EHang Holdings (NASDAQ: EH) successfully completed the world’s first electric vertical takeoff and landing aircraft flight powered entirely by a solid-state battery.
Array Technologies (NASDAQ: ARRY) made a $3 million strategic investment into Swap Robotics, which has developed a robot capable of laying solar panels completely autonomously.
Simply Better Brands (TSXV: SBBC) announced significant quarterly sales growth fuelled by their flagship protein bar brand TRUBAR.

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