Stairway to Heaven

Bitcoin miner and AI cloud services provider with data centers in multiple countries. Transitioning GPU capacity toward AI/HPC workloads alongside BTC mining for dual revenue streams.

Iris Energy is the dual-play that crypto Twitter can't stop talking about. They're running one of the most efficient Bitcoin mining operations globally while simultaneously building out a serious AI/HPC cloud business with Nvidia GPUs. The Childress, Texas expansion is massive, and the power contracts they've secured are at rates that make the economics work for both mining and AI workloads. The bull thesis is that the market is valuing them as a miner when they're increasingly an AI infrastructure company that also mines Bitcoin. If the AI revenue scales to even 30-40% of total revenue, the stock deserves a dramatically higher multiple.

Manufacturer of zinc-based long-duration energy storage systems for utilities and C&I customers. Non-lithium chemistry positioned for 3-12 hour storage; scaling production at new US factory.

Eos Energy is the long-duration storage dark horse. Their zinc-based battery chemistry avoids lithium supply chain risks and offers a cost-competitive solution for 3-12 hour storage that lithium-ion can't economically address. The new Turtle Creek factory is ramping production, and the DOE loan guarantee provides critical non-dilutive funding. The bull case is that as grid storage needs extend beyond 4 hours, Eos's chemistry becomes the preferred solution. Backlog is growing, and each new utility contract validates the technology.

Micro-cap exploration-stage mining company. Early development with speculative resource potential; limited operational history and revenue.

Micro-cap mining exploration play. The bull case is based on early resource potential and the possibility of a discovery that could re-rate the stock by multiples. Mining exploration is inherently speculative, but the asymmetric payoff profile is what attracts investors. Very limited liquidity and institutional coverage means any positive drill results or resource estimates could move the stock dramatically.

Bitcoin mining company focused on low-cost sustainable energy. Rapidly scaling hashrate through acquisitions; exploring AI/HPC colocation as a second growth vector.

CleanSpark is the execution story in Bitcoin mining. Consistently hitting hashrate targets, acquiring facilities at distressed prices, and maintaining one of the lowest cost-per-coin metrics in the industry. The AI/HPC optionality is a free call option on top of an already well-run mining business. If BTC hits $150-200K in this cycle, CleanSpark's earnings power at current hashrate would justify a price multiple of where it trades today. The balance sheet is clean and they're self-funding expansion from operations.

Small-cap company pivoting to Bitcoin treasury strategy after exiting e-commerce brands. Speculative play on BTC accumulation via equity and debt raises.

Upexi's bull thesis is entirely about the Bitcoin treasury strategy. After pivoting from e-commerce, they're now accumulating BTC using equity raises and operational cash flow, essentially becoming a micro-cap MicroStrategy. The bet is that Bitcoin appreciates significantly, and that UPXI's small float creates leverage on BTC price moves. If BTC hits $200K+ the per-share BTC value could dwarf the current stock price.

Bitcoin miner operating in Texas with focus on low-cost power. Building HPC/AI data center capacity as a higher-margin complement to mining; infrastructure-first approach.

Cipher Mining is the infrastructure-first Bitcoin miner that's becoming an AI/HPC story. Their Odessa, TX facility and Black Pearl development site give them access to massive power capacity at competitive rates. The bull case is that Cipher is building data center infrastructure that can flex between Bitcoin mining and AI/HPC hosting depending on which is more profitable. The AI hosting contracts they're signing are at dramatically higher revenue-per-megawatt than mining.

AI infrastructure company (spun from Yandex) building GPU cloud and AI training platforms. Early-stage but well-capitalized; positioned in the AI compute buildout wave.

Nebius is one of the most interesting AI infrastructure plays available. Spun out of Yandex with deep technical talent in ML infrastructure, they're building a GPU cloud platform purpose-built for AI training and inference. They're well-capitalized and moving fast to capture share in the AI compute market before hyperscalers fully lock it up. The valuation is tiny relative to the AI infrastructure TAM.

Micro-cap digital media and entertainment company pivoting to Bitcoin treasury and Web3 gaming. Highly speculative; thin float and limited revenue.

Asset Entities is an ultra-speculative micro-cap that's been pivoting into Web3 gaming and Bitcoin treasury. The bull case is purely about optionality at a tiny market cap — if any of their initiatives gain traction, the percentage move could be enormous. This is a position where the entire investment could go to zero, but the entry price is so low that the risk/reward math works for a tiny allocation.

Telehealth platform offering personalized health and wellness products through subscriptions. Growing rapidly in GLP-1 weight loss, dermatology, and mental health verticals with direct-to-consumer model.

Hims & Hers has transformed from a DTC telehealth startup into a scaled health platform. The Novo Nordisk partnership resolved the GLP-1 legal overhang and secured market access to the fastest-growing consumer health category. Subscription revenue provides recurring visibility, and the expansion into weight loss, mental health, and dermatology dramatically widens the TAM. The platform's personalized approach and strong brand resonate with younger demographics underserved by traditional healthcare.

Industrial engine manufacturer specializing in emissions-certified powertrains for off-highway and on-road markets. Niche position in nat-gas and propane engines with growing demand from data-center backup power.

The narrative gaining traction is that PSIX is a stealth data-center play. Their natural gas and propane engines are increasingly being deployed as backup and prime power for AI data centers that can't wait 3+ years for grid connections. The company trades at a fraction of peers despite being one of the few domestic manufacturers with EPA-certified engines in the right power range. If even a small percentage of the projected $100B+ in US data center buildout flows to distributed generation, PSIX's revenue could multiply from current levels.