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THE MINING POD: BlackRock’s $2B Mining Holdings, BitFuFu’s $20.4M Buy, BTC Mining’s Economic Impact, and Milei’s Scamcoin

Feb 21, 2025
BlackRock and Vanguard have major stakes in Bitcoin mining, owning around $4 billion worth of mining stocks. BitFuFu is making waves with a $20.4 million purchase of a U.S. mine. Meanwhile, Bitcoin mining is booming, adding over 31,000 jobs in the U.S. But it's not all smooth sailing—Argentina’s President Javier Milei faces backlash for promoting a meme coin that flopped spectacularly. With the intersection of Bitcoin mining and AI emerging, the industry is at a fascinating crossroads.
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INSIGHT

Bitcoin Mining Difficulty and Profitability

  • Bitcoin's price is just under $100k, and a negative difficulty adjustment is expected.
  • Hashrate is high, but miners face low profitability due to price and transaction fees.
INSIGHT

Bearish Sentiment in Bitcoin Mining

  • Sentiment in Bitcoin mining is currently low, despite a slightly higher hash price.
  • Interest in mining and mining stocks seems to have waned, even with the AI/HPC narrative.
INSIGHT

Institutional Holdings in Bitcoin Miners

  • Institutions like BlackRock and Vanguard hold significant stakes in public Bitcoin miners.
  • This institutional ownership can range from a small percentage to over 85%, like with Core Scientific.
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