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Welcome back to The Mining Pod! Bitcoin’s back above $100k and hashrate is rebounding above 900 EH/s with it. In this week's news roundup, Kelly Greer from Crucible Capital joins to explain trends in the GPU financing and hosting markets – and what ASIC market cycles can tell us about where they might be going. We also cover Alpha's IPO valuation, the Digital Energy Council's push against tariffs on ASIC miners, and how Bitfarms is joining other miners in halting hash expansion to focus on HPC and AI infrastructure builds.

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# Notes:

- Network hash rate rebounding to ~900 exahashes

- GPU rental prices down to $1.45-2.10 per hour

- Alpha IPO valued at $250-300 million

- Tariffs on ASICs could reach 24-36%

- BitFarms halting hash expansion for HPC/AI focus

- Trump admin signals support but tariffs persist

Timestamps:

00:00 Start

02:33 Difficulty Report Presented By Luxor

04:42 GPU rental, financing landscape is shifting

18:00 Antalpha valuation

23:55 ASIC tariff exclusion

29:00 Bitfarms pauses mining to focus on AI

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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!

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Welcome back to The Mining Pod! Today, Masih Alavi, CEO of ViraMiner, joins us to discuss an overlooked mecca for bitcoin mining: Iran. He estimates that miners in the country operate with just 5 MW of legal, while 2 GW of mining activity hums away in the shadows of basements, offices, and even jewelry stores. Plus, Alavi discusses how Iranian citizens use outdated mining equipment to evade sanctions, convert crypto to USD, and survive capital controls from within and sanctions from without. Alavi explains why the government's hardline stance and tax code pushes miners underground and the ingenious methods Iranians use to hide their operations from authorities.

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# Notes:

- Only 5MW legal mining vs. 2GW illegal in Iran

- Outdated S9 miners still profitable in Iran

- Illegal miners caught by authorities

- High tariffs push miners to operate illegally

- 18 million Iranians own crypto assets

- Iran Bitcoin hashrate dropped 10-15% during protests

Timestamps:

00:00 Start

01:47 Mashi background

07:03 Mining ETH

07:37 ViraMiners

08:11 BTC mining in Iran

10:09 Illegal mining operations

13:33 Mining with older hardware

14:14 Electrical tariffs

17:49 Industrial scale mining

21:16 Exchanges or under the table

30:21 Obtaining hardware

32:41 Legal routes for hardware?

38:52 IP logging with pools

42:41 Hashrate waiting to come online

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👉 Luxor, Leaders In Bitcoin Mining and Compute Power!

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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!

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Arizona has taken the lead in the race to establish a strategic Bitcoin reserve, with two bills passing through the legislature and now awaiting the governor's signature. These bills would allow the state to hold and buy Bitcoin and other digital assets with up to 10% allocation. The hosts dissect the different approaches states are taking, from Texas's expert advisory committee structure to New Hampshire and North Carolina's advancing legislation. With 40 strategic Bitcoin reserve bills filed across the US, and states navigating custody options, yield strategies, and political roadblocks, the Bitcoin state race is heating up!

Notes:

- Arizona passed two SBR bills awaiting governor's signature

- 40 SBR bills filed across US states, 6 are dead

- Texas bill allows up to 1% of general fund for Bitcoin

- Arizona bills allow up to 10% allocation to Bitcoin

- $500B minimum market cap requirement in Texas bill

- Oklahoma bill failed in committee by one vote (6-5)

Follow our guests: @cbspears @asilayhodling @btcszn2

Timestamps:

00:00 Start

00:32 Arizona SBR vote

08:42 State custody

11:50 Arch Network

12:22 Not your keys, not your strategic reserve

15:28 Other states drafting Bitcoin laws

16:51 Texas bill

20:31 Market cap provisions

25:31 Alabama

27:19 Fails: Oklahoma

32:08 Fails: Pennsylvania

-

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o you by⁠ Arch Network⁠! Arch brings the speed of Solana & the best of crypto UX to Bitcoin. Tap into the rich app ecosystem on Arch & try out the testnet while you’re still early! Visit⁠ arch.network⁠ to learn more.

-

👋Bitcoin Season 2 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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Welcome to The Mining Pod News Roundup! The gang breaks down Tether's latest foray into the bitcoin mining sector as it seeks a $25M stake in AntAlpha, Galaxy's CoreWeave deal expanding to a total of 393MW, and the dramatic impact of the 2024 halving one year later. Plus, they dive into Cambridge's latest report showing Bitcoin uses 0.5% of total global electricity, and for this week’s cry corner: the contentious proposal to abolish the OP_RETURN data limit.

# Notes:

- Bitcoin price approaching $97,000

- 100 EH/s hash rate disappeared recently

- 40% difficulty increase post-halving

- Tether eyeing $25M stake in Ant Alpha IPO

- Galaxy secured additional 260MW from Helios

- Bitcoin uses 0.5% of total global electricity

Timestamps:

00:00 Start

07:51 Tether Antalpha stake

12:21 Galaxy + CoreWeave + AI

20:01 1-year after the halving

29:35 Cambridge Report: Miners Turn to Renewables

35:47 Cry corner: OP_RETURN wars

👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy.

And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today!

👉 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!

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Welcome to The Mining Pod! Today, Christian Lopez, Head of Digital Assets at Cohen and Company Capital Markets, joins us to break down Bitcoin mining's ever-shifting capital market landscape. Lopez explains why there's currently a glut of mining sites on the market, why private miners struggle to secure funding, and why the HPC/AI retrofit narrative is more complex than it seems. We also discuss how potential tariffs might affect mining operations, why Bitcoin mining stocks are correlating differently with Bitcoin than in previous cycles, and the evolving relationship between Bitcoin miners and institutional investors.

- 1.5GW of mining sites currently for sale

- Private miners face nearly impossible fundraising

- Site retrofits for HPC require total rebuilds

- Hash rate correlation with BTC price declining

- Tariffs may increase CapEx by 10-30%

- Hyperscalers want 150MW+ sites near major cities

Timestamps:

00:00 Start

01:47 Current market for miners

04:22 M&A landscape

11:42 Fractal

12:04 AI & HPC hype

14:27 Raising capital right now

17:59 Is retrofitting real?

21:36 Tariffs

26:16 Is capital chasing AI instead of mining?

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And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today!

👉 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!

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We jump on the podcast to discuss Spain's and Portugal's historic blackout event, with over 10 GW of missing energy on the Iberia Peninsula.

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We jump on the podcast to discuss Spain's and Portugal's historic blackout event, with over 10 GW of missing energy on the Iberia Peninsula.

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Welcome to The Mining Pod! In this episode, the team discusses recent Bitcoin mining trends including a projected 8% difficulty decrease, fee revenue rebounding to 3.3% of block rewards, and major loans from Coinbase and Matrixport to miners amid ATM market hesitancy. They analyze the curious case of $2.7M in stolen Bitcoin miners (many outdated S9s) intercepted at LAX, customs control gaming allegations, and tariff implications for ASIC importation. The highlight is a lively debate on the top 5 moments in Bitcoin mining history, with strong disagreements about whether mining pools deserve a spot!

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# Notes:

• Bitcoin hash rate down ~100 EH/s from April peak

• Transaction fees rebounding to 3.3% of block rewards

• $2.7M in stolen ASIC miners intercepted at LAX

• AnAlpha IPO filing with 1.63B in outstanding loans

• ASIC miners classified under tariff code 8543

• AnAlpha's US customer base dropped from 25% to 6.9%

Timestamps:

00:00 Start

00:13 Luxor Difficulty Report

06:21 LAPD Finds Millions in Stolen S9s

08:37 Sneaking ASICs into the US?

12:19 Tariffs again....

15:35 Fractal Bitcoin

16:11 Top 5 Bitcoin Mining Moments in History

31:26 Antalpha’s IPO

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!

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Welcome back to The Mining Pod! Welcome back to The Mining Pod! Today, Valentin Rousseau (a.k.a as Muad Dib on X), a bitcoin mining researcher who's worked with Hash Labs and the University of Cambridge, joins us to discuss his Blockspace report on hashrate forecasting for 2025, 2026, and 2027. Valentin breaks down his methodology for predicting Bitcoin's hashrate trajectory, analyzes hashrate deployment schedules for public miners, unpacks how tariffs could slow U.S. hashrate growth – and thus the Bitcoin network’s growth as well, and answers the question: will we still see 1 zetahash in 2025? 

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# Notes:

- Projected ~1000 EH/s by end of 2025

- Forecast: 1700 EH/s by end of 2027

- Public miners = 37% of global hashrate

- US tariffs reduced 2025 forecast by 60 EH/s

- Private miners leading international expansion

- ASIC prices flattened since 2022 crash

Timestamps:

00:00 Start

02:27 2025 Mining Outlook

06:28 Public miner success rate

08:30 2026 & 2027 Outlook

11:27 Hashrate prediction 2027

13:59 Accounting for tariffs

16:14 US domestic vs International

17:10 Private vs public hashrate

20:06 Machine purchases

24:34 Greenfield vs Brownfield sites

29:34 Map of US hashrate

31:54 Hashrate averages

35:57 Wrap up

49:29 Vibe shift

👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy.

And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today!

👉 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!

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Who’s the top Bitcoin miner? We rank them in this week’s news roundup. Plus Auradine raises a ton of money to bring Bitcoin mining manufacturing stateside. 

Welcome to The Mining Pod! In this episode, the gang breaks down the latest in Bitcoin mining with their weekly hash price update, showing prices hovering around $45 per petahash day with an expected 2.5% difficulty increase. We then flex to"Bitcoin Mining Mountain" - a spicy tier ranking of top mining companies based purely on vibes. The crew also discusses Auradine raising $153 million in Series C funding to expand ASIC manufacturing, dives into Luxor's derivatives market for hash rate futures, and concludes with Coinbase's alleged front-running controversy with their "Base is for Everyone" token launch.

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# Notes:

- Hash price currently at $45 per petahash per day

- Expected 2.5% difficulty adjustment on April 19

- Ordean raises $153M in Series C funding

- Bit Deer ranked S-tier due to Tether investment

- Luxor did $65M in notional volume in Q1

- Hash rate growth projected to slow in 2025

Timestamps:

00:00 Start

01:08 Difficulty Report by Luxor

04:24 Ranking Miners

26:27 Auradine raises $153 million

32:42 Luxor Market Update

44:12 Cry corner - Coinbase rugs ‘Base’ users

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!

👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy.

And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today!

👉 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!

Learn more about your ad choices. Visit megaphone.fm/adchoices