The Mining Pod | Blockspace Media Core Scientific-CoreWeave Deal Fails, CleanSpark Eyes 285 MW AI Site, TeraWulf’s $9.5B Fluidstack Deal
Oct 31, 2025
Ethan Vera, CEO of Luxor and expert in ASIC market dynamics, dives into key issues affecting the mining industry. He reveals how unexpected hashrate growth is driven by China and Russia while discussing competitive pressures in the ASIC market, particularly Canaan's resurgence. The podcast also details the failed $9 billion CoreWeave acquisition and CleanSpark's acquisition of a 285 MW Texas site for AI workloads. Finally, Vera addresses the controversial filter soft fork proposal and its implications for mining pools.
AI Snips
Chapters
Transcript
Episode notes
Core Scientific Deal Rejected
- Core Scientific shareholders voted down the $9B CoreWeave acquisition amid rising AI valuations.
- The market shifted quickly and made the original all-stock deal unattractive to Core Scientific investors.
Hashprice Falls As Hashrate Surges
- Hashprice fell to $43.73 per PH/day while difficulty adjusted up 6.3%.
- Network hashrate climbed above 1.1 ZH on the seven-day average despite weak fees.
China & Russia Driving New Hashrate
- Luxor attributes much of recent hash growth to China and Russia plugging in machines.
- Manufacturers are deploying excess ASICs globally where buyers in the U.S. are softer.