DeFIRE Portfolio Challenge
A public portfolio tracker. It started at $50,000 and runs until it reaches $1,000,000. All positions were sold on June 19, 2026; the full value sits in cash while we wait for a safer entry.
Measured from the original $50,000 starting value.
Versus the 0.50 BTC starting benchmark, measured at the June 19 exit.
Sold everything June 19, 2026. Waiting for a safer entry before the next buy.
Proof of work
The record started at $50,000, made $10,000 and fully exited, then re-entered at $60,000 into this 13-name miner basket. This is that basket, one row per buy and sale in date order. Free cash starts at $60,000 and adds up by hand: each row equals the row below it plus its cash flow. Total value is free cash plus the holdings at cost. The account ends all in cash at $392,139.56: the $380,793.27 final exit plus $11,346.29 of early-sale cash never redeployed. That is 7.84x the original $50,000. Proof is the public Google Sheet portfolio tracker this ledger is built from, pulled 2026-08-24.
Ledger fingerprint
4040b4fe671b063c46b42315f16a5245ded2c5a9603449f3a556c5388a9b3034
Every row is hashed together with the row before it, so the eight characters beside each row number depend on every row beneath it. Change one share count, one price or one date anywhere in this ledger and this fingerprint changes. It is recomputable from what you can see on this page, without trusting us.
row_hash = sha256(prev_hash + "|" + kind|date|label|shares|price|cashflow|freecash|totalvalue) · oldest row first, first prev_hash = 64 zeros · fingerprint = the newest row_hash
| # | Event | Shares | Price | Cash flow | Free cash | Total value |
|---|---|---|---|---|---|---|
| 424040b4fe | Sell SLNH2026-06-19Full exit of the miner portfolio. | 6,944 | 1.72 | +$11,943.68 | $392,139.56 | $392,139.56 |
| 4124254d1e | Sell CIFR2026-06-19Full exit of the miner portfolio. | 2,337 | 29.18 | +$68,204.61 | $380,195.88 | $385,195.56 |
| 40cfb03b2a | Sell CAN2026-06-19Full exit of the miner portfolio. | 8,260 | 0.33 | +$2,725.80 | $311,991.27 | $324,096.57 |
| 39a43f9b01 | Sell CORZ2026-06-19Full exit of the miner portfolio. | 961 | 29.16 | +$28,036.69 | $309,265.47 | $330,126.37 |
| 38c1301cf7 | Sell WULF (re-entry)2026-06-19Full exit of the miner portfolio. | 2,046 | 28.98 | +$59,293.08 | $281,228.78 | $310,214.17 |
| 375b8bc1b3 | Sell KEEL2026-06-19Full exit of the miner portfolio. | 4,636 | 6.29 | +$29,160.47 | $221,935.70 | $288,567.49 |
| 36b80a2b12 | Sell IREN2026-06-19Full exit of the miner portfolio. | 985 | 59.96 | +$59,063.32 | $192,775.23 | $264,552.99 |
| 3501f87761 | Sell HIVE2026-06-19Full exit of the miner portfolio. | 10,174 | 4.26 | +$43,341.24 | $133,711.91 | $212,119.02 |
| 34f25ae413 | Sell HUT2026-06-19Full exit of the miner portfolio. | 635 | 124.44 | +$79,024.39 | $90,370.67 | $186,175.32 |
| 33444af758 | Buy SLNH2026-04-14New position in the April 2026 reallocation. | 6,944 | 0.72 | -$4,999.68 | $11,346.28 | $114,428.49 |
| 32c4fe8c8b | Buy WULF (re-entry)2026-04-14Re-entered in the April 2026 reallocation after the August 2025 sale. | 2,046 | 18.40 | -$37,646.40 | $16,345.96 | $114,428.49 |
| 317c4f9da4 | Sell CLSK2026-04-14Sold on unfavorable company analysis. | 940 | 7.35 | +$6,909.76 | $53,992.36 | $114,428.49 |
| 308263b727 | Sell RIOT2026-04-14Sold on unfavorable company analysis. | 988 | 11.33 | +$11,192.12 | $47,082.60 | $115,104.53 |
| 2950cfb8fd | Sell MARA2026-04-14Sold on unfavorable company analysis. | 604 | 10.62 | +$6,414.48 | $35,890.48 | $111,352.05 |
| 28ab81f03c | Sell WULF2025-08-14Sold into the Google / Fluidstack backstop announcement. Proceeds reallocated. | 2,425 | 7.85 | +$19,036.25 | $29,476.00 | $112,843.93 |
| 27e570603c | Buy CIFRadded 2025-07-10Added in the 10 July 2025 reallocation. | 819 | 3.04 | -$2,490.24 | $10,439.75 | $101,252.43 |
| 26769b609b | Buy CANadded 2025-07-10Added in the 10 July 2025 reallocation. | 3,906 | 1.06 | -$4,140.21 | $12,929.99 | $101,252.43 |
| 251c29724d | Buy CORZadded 2025-07-10Added in the 10 July 2025 reallocation. | 415 | 8.45 | -$3,509.11 | $17,070.20 | $101,252.43 |
| 243f769090 | Buy KEELadded 2025-07-10Added in the 10 July 2025 reallocation. | 478 | 1.11 | -$530.57 | $20,579.31 | $101,252.43 |
| 237deb570a | Buy IRENadded 2025-07-10Added in the 10 July 2025 reallocation. | 299 | 6.73 | -$2,013.98 | $21,109.88 | $101,252.43 |
| 22d160c397 | Buy HIVEadded 2025-07-10Added in the 10 July 2025 reallocation. | 7,475 | 1.71 | -$12,782.14 | $23,123.86 | $101,252.43 |
| 21478424fb | Buy HUTadded 2025-07-10Added in the 10 July 2025 reallocation. | 232 | 11.47 | -$2,662.18 | $35,906.00 | $101,252.43 |
| 203d7a65c8 | Buy CLSKadded 2025-07-10Added in the 10 July 2025 reallocation. | 368 | 8.07 | -$2,970.41 | $38,568.18 | $101,252.43 |
| 19cbe3d83e | Buy RIOTadded 2025-07-10Added in the 10 July 2025 reallocation. | 375 | 7.53 | -$2,824.26 | $41,538.59 | $101,252.43 |
| 182636484e | Buy MARAadded 2025-07-10Added in the 10 July 2025 reallocation. | 251 | 13.11 | -$3,290.97 | $44,362.85 | $101,252.43 |
| 17a919be92 | Buy WULFadded 2025-07-10Added in the 10 July 2025 reallocation. | 922 | 3.07 | -$2,829.37 | $47,653.82 | $101,252.43 |
| 1635d74f10 | Sell GRYP2025-07-04Exited after a 10x. Proceeds reallocated across the portfolio in the 7/10/25 rebalance. | 24,291 | 1.91 | +$46,396.76 | $50,483.19 | $101,252.43 |
| 1583769835 | Sell BTBT2025-06-26Announced they would pivot to an ETH treasury strategy. Thesis was bitcoin miners, so the position no longer fit. | 2,074 | 1.97 | +$4,086.43 | $4,086.43 | $59,471.05 |
| 147eae2f46 | Buy CIFRopened 2025-03-11Opening position, equal-weight $4,615. | 1,518 | 3.04 | -$4,615.38 | $0.00 | $60,000.00 |
| 13d48019ab | Buy CANopened 2025-03-11Opening position, equal-weight $4,615. | 4,354 | 1.06 | -$4,615.39 | $4,615.38 | $60,000.00 |
| 12210743d8 | Buy CORZopened 2025-03-11Opening position, equal-weight $4,615. | 546 | 8.45 | -$4,615.38 | $9,230.77 | $60,000.00 |
| 11be8c6957 | Buy KEELopened 2025-03-11Opening position, equal-weight $4,615. | 4,158 | 1.11 | -$4,615.39 | $13,846.15 | $60,000.00 |
| 1027bc9eb1 | Buy IRENopened 2025-03-11Opening position, equal-weight $4,615. | 686 | 6.73 | -$4,615.38 | $18,461.54 | $60,000.00 |
| 9bcea5255 | Buy HIVEopened 2025-03-11Opening position, equal-weight $4,615. | 2,699 | 1.71 | -$4,615.39 | $23,076.92 | $60,000.00 |
| 86a52dc8e | Buy HUTopened 2025-03-11Opening position, equal-weight $4,615. | 403 | 11.45 | -$4,615.38 | $27,692.31 | $60,000.00 |
| 726418ff7 | Buy CLSKopened 2025-03-11Opening position, equal-weight $4,615. | 572 | 8.07 | -$4,615.39 | $32,307.69 | $60,000.00 |
| 6f2feea42 | Buy RIOTopened 2025-03-11Opening position, equal-weight $4,615. | 613 | 7.53 | -$4,615.38 | $36,923.08 | $60,000.00 |
| 5d1c8602d | Buy MARAopened 2025-03-11Opening position, equal-weight $4,615. | 353 | 13.07 | -$4,615.39 | $41,538.46 | $60,000.00 |
| 4abcdabcd | Buy WULFopened 2025-03-11Opening position, equal-weight $4,615. | 1,503 | 3.07 | -$4,615.38 | $46,153.85 | $60,000.00 |
| 32b327821 | Buy GRYPopened 2025-03-11Opening position, equal-weight $4,615. | 24,291 | 0.19 | -$4,615.39 | $50,769.23 | $60,000.00 |
| 2ffa94a3c | Buy BTBTopened 2025-03-11Opening position, equal-weight $4,615. | 2,074 | 2.23 | -$4,615.38 | $55,384.62 | $60,000.00 |
| 1cedad67a | Open Re-entry capital2025-03-11$60,000 into a 13-name equal-weight basket, $4,615 each. This is the $50,000 original plus the $10,000 made and fully exited before this basket. | +$60,000.00 | $60,000.00 | $60,000.00 |
How the buys were reconstructed: no per-fill transaction log was kept, so the buys are rebuilt from the sheet's dated tabs. Each position is opened in Q1 2025 at its real opening share count, then added to in the 10 July 2025 equal-weight reallocation and the 13 April 2026 redeployment. Share counts are real; because fills were not individually logged, each buy is priced at the position's recorded average cost, which is what the ledger reconciles to. Buys do not move the account value (cash converts to a holding at cost); only a sale realizes a gain or loss, using that same average cost, so the split of the buys cannot change the total. The 10 July additions are dated to the reallocation for simplicity; the exact day of each later top-up is not in the tabs.