CoinDesk Podcast Network The Blockspace Pod: Hut 8 Eyes 500MW Site, MSCI Keeps MSTR, Florida Revisits a BTC Reserve
Jan 9, 2026
In this discussion, Hut 8 eyes a massive 500 MW data center project in Illinois, pending zoning approval. MSCI decides to keep MSTR in its indices, which has implications for treasury companies. The hosts delve into bitcoin mining trends, noting that nearly half of all Bitcoin transactions are non-monetary. Florida makes a renewed push for a Strategic Bitcoin Reserve, sparking debate over its timing and policy risks. Riot’s leadership shakeup and compensation changes illustrate how mining firms are adapting to AI opportunities.
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High Activity Despite Near-Zero Fees
- Bitcoin transaction fees are effectively negligible right now, with one sat/vByte getting transactions through quickly.
- Runes/ordinals nonetheless drove 6.1M transactions last month, ~42% of volume, showing activity despite low fees.
Mining Revenues Under Pressure
- Mining economics are strained with hash price around $39/PH/day and four of five recent difficulty adjustments negative.
- Hashrate remains range-bound near ~1.06 ZH, so miners may see muted growth unless Bitcoin price rallies strongly.
Hut 8's 500MW Illinois Proposal
- Hut 8 filed for zoning on a proposed 500 MW, $4–5B data center in Logan County, Illinois and awaits a January 20 board meeting.
- Hut 8 admits it has not yet chosen a tenant or exact compute purpose, leaving AI or cloud use open.