CoinDesk Podcast Network THE MINING POD: CoreWeave / Core Scientific’s $9B Deal, IREN’s Blackwell Buy, Bit Digital’s ETH Treasury
Jul 11, 2025
Ben Harper, a key member of Luxor's derivative desk, dives into the fascinating world of Bitcoin mining. He discusses the monumental $9 billion acquisition of CoreScientific by CoreWeave and the implications for the industry. Harper shares insights on IREN's ambitious $130 million GPU purchase to boost mining operations. They also analyze the recent hash price surge and the surprising drop in Bitcoin transaction fees. Plus, discover how Bit Digital is shifting gears towards Ethereum in response to evolving market dynamics.
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CoreWeave Acquires Core Scientific
- CoreWeave's $9B acquisition of Core Scientific reflects a major industry consolidation.
- Core Scientific's turnaround from bankruptcy to a massive buyout illustrates resilience and strategic pivoting toward AI and HPC sectors.
IREN Expands AI GPU Fleet
- IREN's $130M purchase of 2,400 NVIDIA Blackwell GPUs signals aggressive entry into AI and HPC compute markets.
- Combining Bitcoin mining with AI infrastructure ventures reflects a diversified and opportunistic growth strategy.
Texas Mining Curtailment Explained
- Texas miners face curtailment challenges driven by 4CP electricity pricing, requiring shutdowns during peak grid usage.
- Economic curtailment and grid demand patterns significantly influence mining difficulty adjustments and operational decisions.