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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.

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

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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

You're listening to The Mining Pod. Subscribe to the newsletter, trusted by over 12,000 Bitcoiners: https://newsletter.blockspacemedia.com

Want to mine Bitcoin? Check out the Blockspace Media store today!

Welcome back to The Mining Pod! Today, Didar Bekbau, CEO of Xive, joins us to analyze Kazakhstan's Bitcoin mining industry. Following China's 2021 mining ban, Kazakhstan briefly captured 15-18% of global hashrate, making it the second largest mining hub in the world, before government restrictions devastated the sector. Didar explains how aging Soviet-era infrastructure couldn't handle the surge, triggering a power price tax hike that drove miners to Russia and the US. He also explores whether Kazakhstan's energy-rich landscape might someday welcome miners back with proper planning and infrastructure investment.

# Notes:

- Kazakhstan peaked at 18% of global hash rate (2021)

- Mining capacity dropped from 1600MW to ~200-400MW

- Electricity tax reached $0.05-0.06 per kWh

- Russia became primary destination for fleeing miners

- Many miners relocated equipment to US and Russia

- Grid infrastructure dated from 1960s-1980s Soviet era

Timestamps:

00:00 Start

02:02 Current Kazakhstan mining overview

04:19 Scope of hashrate

06:14 Why declining hashrate?

08:49 Tax structure

11:58 Reverting the tax structure

13:42 Effects of China mining ban

14:51 Where power generators mining?

17:14 Supply & demand imbalance

21:05 Future for mining in Kazakhstan?

23:59 GDM owning generation

25:07 Russia mining

27:34 Off grid mining in Kazakhstan

29:55 Ukraine war and natural gas

31:52 GDA, grid demand & government

33:12 Kazakhstan mining outlook

👉 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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This is a cross-post of our latest Writer's Room for Bitcoin Season 2, a weekly back-and-forth between Blockspace's Charlie Spears and Colin Harper on hot news items and Bitcoin esoterica. You can find prior episodes on the Bitcoin Season 2 YouTube.

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How do previous Bitcoin crashes compare to this week’s Tariff Troubles? Colin and Charlie analyze Bitcoin's recent 30% drop from $109K to $76K in context of previous market crashes. We compare the COVID crash of 2020, the Terra/Luna collapse of 2022, and the FTX insolvency in November that same year. We cover how market sentiment in each crash despite similar percentage drops, explore how exogenous and endogenous factors affected declines and recoveries – plus, why the current drawdown, mired in macro turmoil, most resembles the March 2020 COVID crash.

Follow our guests: @cbspears @asilayhodling @btcszn2

Notes:

- Bitcoin down 30% from $109K to $76K

- Markets recovered 9.5% in one day

- Terra/Luna crash: 35% drop in one week

- FTX collapse: only 30% drop but worst sentiment

- US fiscal deficit at $36.7 trillion debt

- BitMEX "outage" may have saved 2020 crash

Timestamps:

00:00 Start

00:46 Bitcoin crashes, “don't buy it”

06:25 Macro lookback

14:00 Covid crash (march 2020)

23:18 Terra Luna crash (may 2022)

32:16 FTX Crash

38:43 Stay humble, stack sats

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Welcome to The Mining Pod! Will and Colin break down the harsh reality of bitcoin’s hashprice hovering around $40, putting many miners at or underwater. The hashprice woes couldn’t come at a worse time, as the Trump administration’s tariffs are poised to increase CAPEX costs for miners in the U.S. The Trump tariff chaos sent miners scrambling to charter multi-million dollar flights for ASIC imports in the eves before the administration effected a 90-day pause on its proposed policy. We also discuss Pakistan's plans to use Bitcoin mining for surplus electricity. And for this week’s cry corner, if you wanted to vastly outperform the market year to date, you should have invested in this ETF that is short ETH. 

# Notes:

- Hash price down to around $40

- Most public miners at break-even or underwater on direct costs

- Trump paused tariffs for 90 days, China still at 125%

- $2.33B of mining hardware imported to US in 2024

- Pakistan turning to Bitcoin mining for surplus power

- 2x inverse ETH ETFs up 247%, best ETFs of 2025

Timestamps:

00:00 Start

01:20 Difficulty Report

06:40 Tariff deadline scramble

15:35 Mining stocks

21:27 Pakistan BTC mining

28:39 Cry Corner: Is ETH ded?

👉 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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You're listening to The Mining Pod. Subscribe to the newsletter, trusted by over 10,000 Bitcoiners: https://newsletter.blockspacemedia.com

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Welcome back to The Mining Pod! Today, Matt Prusak, CEO of American Bitcoin, joins us to discuss the strategic partnership between HUT 8 and the Trump family for its latest subsidiary, American Bitcoin. Hut 8 is reallocating nearly all of its self-mining assets (10 EH/s) to American Bitcoin and taking an 80% stake in the company. Prusak explains why Hut 8 has taken this approach to focus self-mining efforts with American Bitcoin while the parent company focuses on energy, infrastructure, and AI. Plus, he touches on American Bitcoin’s ambitious plans to reach 50 EH/s and the company’s plans to go public.

# Notes:

- HUT 8 allocated mining assets for 80% stake

- Starting with 10 EH/s, targeting 50 EH/s

- American Bitcoin will build own Bitcoin treasury

- Emphasizes "America First" Bitcoin ethos

- Plans to go public in the future

- Targeting sub-15 joules per terahash efficiency

Timestamps:

00:00 Start

01:45 Starting American Bitcoin

02:49 Business structure

03:43 What does Hut 8 gain?

04:52 AI & HPC pivot

06:19 New pools of capital?

07:32 New facilities?

08:21 Hut 8 & Bitmain deal

09:27 Roadmap

10:19 Power generation

12:00 Favoring domestic hardware?

13:28 Dividing responsibilities

14:41 Separate treasuries?

14:52 Financials & IPO

16:29 Two public companies

18:58 Fundraising

21:41 Balancesheets

22:58 Hut 8 expenses

26:36 Vibe shift

👉 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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