Crypto M&A hits record-high of $8.6B in 2025.

The crypto industry closed out the year with a record $8.6 billion in mergers and acquisitions, driven by pro-crypto policies from the White House. With Coinbase’s historic $2.9 billion acquisition of Deribit leading the charge, is big tech consolidation taking over crypto? CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

For today’s roundup, the Blockspace team shares their year-end 2025 rankings for bitcoin mining stocks.

Click here to create your own rankings and share them with us on X by tagging @blockspace! 

Subscribe to the Blockspace newsletter!

Welcome back to The Mining Pod! Today, Will, Colin, and Charlie are back with another (in)famous Vibe Rankings for Bitcoin Mining Stocks. For bitcoin mining stocks, 2025 was a year defined by aggressive expansion in the AI sector, but some miners have been more fruitful with their endeavors than others. For today’s roundup, the team dives into our 2025 year-end rankings for the top bitcoin mining stocks, which includes some spirited debate about who belongs in what tier – and whether or not any bitcoin mining stock earned an S rank in 2025.

Subscribe to the newsletter! https://newsletter.blockspacemedia.com

Timestamps:

00:00 Start

09:08 Vibe Ranking

12:39 Canaan (CAN)

16:09 Cipher Mining (CIFR)

20:55 Hive (HIVE)

26:26 American Bitcoin (ABTC)

34:31 BitFUFU (BITF)

39:04 Marathon (MARA)

44:53 Hut 8 (HUT)

49:40 Cango (CANG)

53:40 Bitfarms (BITF)

57:20 Core Scientific (CORZ)

1:02:52 Bitdeer (BTDR)

1:08:53 IREN (IREN)

1:12:53 RIOT (RIOT)

1:15:15 Terawulf (WULF)

👉CleanSpark, America's Bitcoin Miner!

CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.

👉 FBOX, Cooling for Bitcoin Mining and the AI Data Center Transformation

FBOX is the global leader in cooling system manufacturing, with the #1 shipment volume of bitcoin mining containers worldwide. Not only powering for the strongest hashrate, their technology also helps mining infrastructure transform into AI data centers. Backed by the largest production scale on earth, global deployment capability, and a full range of cooling solutions, they are shaping the future of compute.

👉 Luxor, Leaders In Bitcoin Mining and Compute Power!

Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS.

Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

TRM Labs' Ari Redbord joins CoinDesk to discuss how 2025’s record-breaking asset recovery efforts and blockchain transparency are countering a 500% surge in AI-driven crypto scams.

TRM Labs, Ari Redbord joins CoinDesk's Jennifer Sanasie to dissect a transformative year for crypto security. While 2025 saw high-stakes exploits and a 500% surge in AI-enabled scams, it also marked one of the greatest years for asset recovery in history. Ari explains why he calls  blockchains the “ultimate crime scene” and how global investigators are leveraging immutable ledgers to claw back billions from bad actors.

Check out CoinDesk's research report on GoPlus Security at: https://www.coindesk.com/research/protocol-research-goplus-security

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This episode was hosted by Jennifer Sanasie.

Is crypto market structure bill still alive?

Washington has delivered big crypto wins in 2025 — but the most important piece of legislation is still missing. In this video, we break down where U.S. market structure law stands, why the Senate is stalling, and the three friction points that could derail everything. With shutdown risks, midterms looming, and $100M+ in political spending at play, the stakes couldn’t be higher. Here’s what actually matters, and what happens if this bill never becomes law. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

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Break the cycle of exploitation.

Break down the barriers to truth.

Break into the next generation of privacy.

Break Free.

Free to scroll without being monetized.

Free from censorship.

Freedom without fear.

We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design.

Break free with Midnight, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠midnight.network/break-free⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

The Blockspace Boys count down the best and favorite Bitcoin stories of 2025, from ICE raids in Texas and Operation Chokepoint 2.0 to the explosive pivot to AI and the mystery of the $8B OG whale wallet.

Blockspace Boys — Charlie, Colin, and Will — join us to count down the most impactful and wildest stories of the year. They dive deep into the ICE raid on a Texas Bitcoin mine, the end of Operation Chokepoint 2.0, and the industry-wide pivot to AI and HPC. We also discuss Trump’s tariffs causing miner panic, the "Treasury Narrative" bust, and the legendary $8 billion whale sale. Plus, don't miss the saga of the Bitcoin Puppet race car.

Subscribe to the newsletter! https://newsletter.blockspacemedia.com

Notes:

* ICE raided Texas mine; seized guns/workers

* Operation Chokepoint 2.0 Conspiracy

* Miners paying $2-3.5M for chartered jets

* OG Whale sold $8B Bitcoin via Galaxy

Timestamps:

00:00 Start

02:11 Ice Raids Bitcoin Facility

10:21 Mining co-loction deals

16:13 Operation Chokepoint 2.0

25:05 ASIC imports

33:48 The Rush to Avoid Tariffs

39:22 80k Bitcoin on the Move

46:22 Bitcoin Treasury Narrative

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👋The Blockspace Pod is produced Blockspace Media, Bitcoin’s first B2B publication in Bitcoin. Follow us on Twitter and check out our newsletter for the best information in Bitcoin mining, Ordinals and tech!

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Questions or want to sponsor? [email protected]

What is the D.C.-crypto revolving door?

Outgoing CFTC Acting Chair Caroline Pham is heading to MoonPay, marking the latest high-profile move from D.C. to the crypto sector. But the door swings both ways: the Trump administration is backfilling roles with private-sector heavyweights like Mike Selig and David Sacks. Is this what a modern government looks like, or a conflict of interest? CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

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Break the cycle of exploitation.

Break down the barriers to truth.

Break into the next generation of privacy.

Break Free.

Free to scroll without being monetized.

Free from censorship.

Freedom without fear.

We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design.

Break free with Midnight, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠midnight.network/break-free⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

Where bitcoin is headed and other predictions for the New Year with BitMEX Co-Founder and Maelstrom CIO Arthur Hayes.

BitMEX Co-founder and Maelstrom CIO, Arthur Hayes has been named one of CoinDesk’s 50 Most Influential People. He joins CoinDesk's Jennifer Sanasie, to discuss his famous and persistent $250,000 bitcoin forecast and the macro forces driving it. Plus, he explains why Zcash is his best investment and reveals his top three assets for 2026.

To hear more from Arthur Hayes, visit: 

X - https://x.com/cryptohayes 

IG - https://www.instagram.com/cryptohayes/

Web - https://www.cryptohayes.com 

LinkedIn - https://www.linkedin.com/in/arthur-hayes-b493b42/ 

Substack - https://cryptohayes.substack.com/ 

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For more, check out CoinDesk’s 50 Most Influential article on Arthur Hayes: https://www.coindesk.com/business/2025/12/11/most-influential-arthur-hayes. 

To see the full list, visit: https://www.coindesk.com/most-influential-2025. 

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Timecodes: 

00:52 - Why What Arthur Says Resonates 

01:32 - His Best Spat of 2025

02:25 - Why Zcash Finally Popped Off

04:49 - Arthur’s Zcash Prediction

07:03 - His Top Three Investments of 2025

08:07 - “It Doesn’t Matter Who Wins” - The Election Cycle and Massive Money Printing

12:02 - Is Bitcoin’s Rise Worrisome for the U.S. Economy?

12:55 - Arthur’s BTC Price Predictions

13:45 - The Biggest Crypto Trend of 2026

15:18 - The Biggest Challenge & Biggest Win for the Crypto Industry

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Break the cycle of exploitation.

Break down the barriers to truth.

Break into the next generation of privacy.

Break Free.

Free to scroll without being monetized.

Free from censorship.

Freedom without fear.

We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design.

Break free with Midnight, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠midnight.network/break-free⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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This episode was hosted by Jennifer Sanasie.

CoinShares CEO Jean-Marie Mognetti joins the Mining Pod to break down the underdiscussed ways that bitcoin ETFs have changed the crypto market.

Subscribe to the Blockspace newsletter!

Welcome back to The Mining Pod! Today, Jean-Marie Mognetti, CEO of CoinShares, joins us to talk about the financialization of Bitcoin following the ETF launches. We dive into how derivatives and call overwriting could be compressing volatility and changing price action. He also breaks down the cultural and regulatory differences stifling European adoption compared to the US, and why Bitcoin's ultimate success might be a "bittersweet" signal of global sovereign debt failure.

Subscribe to the newsletter! https://newsletter.blockspacemedia.com

**Notes:**

Notes:

* EU ETF market 10x smaller than US

* Bitcoin futures in contango

* Spot liquidity is currently thin

* Options market suppressing volatility

* US dominates global crypto trading

* Sovereign debt cycles are failing

Timestamps:

00:00 Start

02:51 Current BTC volatility

07:29 Options market wagging the dog

09:33 Financialization of Bitcoin

14:23 Who's using call options?

15:52 Market changes due to ETF?

18:03 JPM 1.5x levered ETF

18:53 European ETF market

25:31 European ETF flows

29:24 What is holding institutions back?

31:14 Are DATs dead?

👉CleanSpark, America's Bitcoin Miner!

CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.

👉 FBOX, Cooling for Bitcoin Mining and the AI Data Center Transformation

FBOX is the global leader in cooling system manufacturing, with the #1 shipment volume of bitcoin mining containers worldwide. Not only powering for the strongest hashrate, their technology also helps mining infrastructure transform into AI data centers. Backed by the largest production scale on earth, global deployment capability, and a full range of cooling solutions, they are shaping the future of compute.

👉 Luxor, Leaders In Bitcoin Mining and Compute Power!

Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS.

Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

OpenSea, CMO, Adam Hollander reveals the high-stakes roadmap to transform the world’s leading NFT marketplace into a frictionless, universal hub for the entire onchain economy.

From flipping digital land to becoming CMO for OpenSea, Adam Hollander shares his vision for the future of digital ownership. After surviving the NFT boom and bust, OpenSea is staging a major comeback by broadening its scope to every digital asset through a complete platform rebuild. He outlines a roadmap to transform OpenSea from a simple marketplace into a universal interface for the entire on-chain economy, abstracting away backend complexity to serve as the primary gateway for all digital culture and trade.

- Links mentioned from the podcast:

Adams's Twitter 

OpenSea Website

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- From our sponsor:

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"Gen C" features host Sam Ewen. Executive produced by Uyen Truong.

Mike Selig confirmed as the next CFTC chairman.

Mike Selig has been confirmed as the Chairman of the CFTC, signaling a decisive shift toward a "crypto-first" regulatory environment. Selig has vowed to end "regulation by enforcement" and replace opaque unwritten rules with principles-based clarity. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."

-

Break the cycle of exploitation.

Break down the barriers to truth.

Break into the next generation of privacy.

Break Free.

Free to scroll without being monetized.

Free from censorship.

Freedom without fear.

We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design.

Break free with Midnight, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠midnight.network/break-free⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.