CoinDesk Podcast Network THE MINING POD: ABTC Eyes 25 EH/s, Institutional ETF Holdings, Amazon to Pour $20B into PA
Jun 13, 2025
Nick Day, affiliated with Luxor, shares his expertise on Bitcoin mining and hash rate financing. He discusses the anticipated $320 million investment by American Bitcoin to boost their fleet to 25 EH/s and the unique challenges miners face due to seasonal trends and investor pressures. The episode highlights Amazon's $20 billion bet on Pennsylvania's data centers, the significant drop in hedge fund Bitcoin ETF holdings, and the ongoing debates within the Bitcoin community regarding transaction filtering and decentralization.
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Summer Curtailed Mining Difficulty
- Bitcoin mining difficulty tends to increase less during summer months due to curtailment caused by heat and higher energy costs.
- Miners power down or reduce activity to avoid high electricity charges, causing a natural slow-down in hash rate growth.
American Bitcoin's Big Hashrate Buy
- American Bitcoin plans to rapidly deploy up to 25 exahashes using $320 million in Chinese Bitmain hardware.
- They benefit from a favorable $21 per terahash price, enabling turnkey hash rate expansion amidst newer miner models arriving soon.
Miners Innovate Capital Funding
- Bitcoin miners are diversifying capital raises using convertible notes, ATM sales, and private placements.
- Many are shifting focus to AI and HPC sectors alongside traditional mining, reflecting evolving capital strategies.