Sign in

    Michael Donovan • H.C. Wainwright & Co.

    Michael Donovan's questions to Canaan Inc (CAN) leadership

    Michael Donovan's questions to Canaan Inc (CAN) leadership • Q1 2025

    Question

    Michael Donovan, on behalf of Kevin Dede, asked for more clarity on self-mining expansion plans and whether the U.S. tariff situation has led to an increase in rig orders for May compared to April.

    Answer

    CEO Nangeng Zhang detailed self-mining progress, noting total deployed global hash rate reached 8.15 EH/s, with strategic operations in Ethiopia providing a hedge against U.S. uncertainty. He confirmed that while non-U.S. orders have been strong in Q2, U.S. demand remains suppressed with no signs of recovery due to tariffs. CFO Jin James Cheng added context on the direct cost impact of the tariffs on U.S. miners.

    Ask Fintool Equity Research AI

    Michael Donovan's questions to Cango Inc (CANG) leadership

    Michael Donovan's questions to Cango Inc (CANG) leadership • Q1 2025

    Question

    Michael Donovan of H.C. Wainwright sought more clarity on the deployment timeline for the remaining 18 exahash of computing power and asked if the company plans to use its Bitcoin holdings for lending or to earn yield as part of its HODL strategy.

    Answer

    CFO Yongyi Zhang clarified that the 18 exahash deal is expected to close by the end of July, with finalization pending a shareholder meeting regarding a separate PRC deal. Regarding the HODL strategy, he confirmed the current focus is on accumulating Bitcoin, but the company will consider yield-generating transactions once its holdings reach a sufficient scale.

    Ask Fintool Equity Research AI

    Michael Donovan's questions to Applied Digital Corp (APLD) leadership

    Michael Donovan's questions to Applied Digital Corp (APLD) leadership • Q1 2025

    Question

    Michael Donovan, on behalf of Kevin Dede of H.C. Wainwright, questioned customer turnover and pricing trends in the Cloud Services business and asked about the company's efforts in engineering heat recirculation solutions.

    Answer

    Executive Wesley Cummins reported that GPU pricing has remained stable and the company continues to expand with its largest customer. He noted a potential need to swap out one customer but expressed confidence in backfilling the demand. Regarding heat recirculation, he confirmed they are actively exploring agricultural applications, such as greenhouses, for the liquid-cooled Ellendale facility, with potential deployment in calendar 2025.

    Ask Fintool Equity Research AI