THE MINING POD: China Mining Crackdown, Hut 8’s $7B Fluidstack Deal, CoreWeave Site Delays

Dec 19, 2025

Brady Dale, a dedicated journalist known for his on-the-ground reports in crypto, joins to discuss pressing issues in the mining sector. He shares insights on China's renewed crackdown on bitcoin in Xinjiang, which has led to significant mining shutdowns. The conversation dives into Hut 8's groundbreaking $7 billion deal with Fluidstack and the construction delays faced by CoreWeave in Texas. Brady also details local opposition to a mining facility in Granbury, revealing community dynamics and the complexities of regulating mining operations.

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INSIGHT

Xinjiang Crackdown Curtails Hashrate

Luxor and BlockSpace report a fresh crackdown in Xinjiang forced roughly 1.3 GW (≈100 EH) of mining offline.
The action raises uncertainty about permanence and whether equipment will be seized, warehoused, or redistributed.

INSIGHT

Multiple Causes Behind Hashrate Drop

Multiple factors caused the recent hashrate drop: the Xinjiang sweeps, bad hashprice, and US winter curtailments.
Difficulty is likely to fall, possibly making mining economics marginally easier for remaining operators.

INSIGHT

Hyperscaler Dealbackstops Finance Builds

Hut 8 signed a $7 billion 15-year hosting deal with FluidStack, with potential expansion to $17.7 billion.
Google backstops parts of these deals to secure revenue streams and help finance large-scale builds.

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This week in bitcoin mining news, hiccups surface in AI site development and funding, and China crackdown on bitcoin mining in Xinjiang.

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Welcome back to The Mining Pod! Today, Colin and Matt dive into reports of a bitcoin mining crackdown in Xinjiang, China, Hut 8's massive $7B hosting deal with Fluidstack, just-reported summer weather delays at Core Scientific’s Denton facility for CoreWeave, and Blue Owl declining to fund a 1 GW AI site for Oracle. And to close the show, veteran crypto reporter Brady Dale, author of the Front Stage Exit newsletter, joins us to talk about a failed vote in Granbury, Texas, to incorporate a new town to expel MARA from its facility in the area.

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**Notes:**

Notes:

* ~1.3GW/100 EH of mining under pressure in Xinjiang

* Hashprice under $40 per PH/s/day

* Difficulty adjustment projected at -1%

* Hut 8 inks $7B, 15-year hosting deal with Fluidstack

* Core Weave faced 60-day construction delays over the summer at CORZ Denton site

Timestamps

00:00 Start

05:44 China bans Bitcoin, again!

15:46 Hut 8 hyperscaler deal

21:49 Delays at CoreWeave Denton site

25:26 Oracle funding issues

30:21 Brady Dale goes to Texas

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