CoinDesk Podcast Network THE MINING POD: Tether and Antalpha, Galaxy’s CoreWeave Expansion, OP_RETURN drama
6 snips
May 2, 2025 Khan Fiharani, a research associate at Luxor and Hashrate Index, dives into the evolving world of Bitcoin mining. He discusses Tether's ambitious $25M investment in AntAlpha, signaling increased corporate interest. The conversation shifts to Galaxy's CoreWeave expansion at Helios and how AI is intersecting with Bitcoin mining for operational efficiencies. Fiharani also highlights post-halving challenges for miners, delving into rising difficulty and Tether's influence on the sector, while touching on the controversial OP_RETURN proposal affecting data usage.
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Unexpected Large Drop in Hash Rate
- Bitcoin network's hash rate recently dropped by 100 exahashes unexpectedly.
- This large dip is beyond normal variability and hints at unknown factors affecting mining activity.
Tether's Deep Mining Industry Push
- Tether is aggressively expanding into Bitcoin mining investments.
- They're targeting a $25M stake in AntAlpha's IPO, focusing on ASIC financing in Asia.
Galaxy's AI Shift with CoreWeave
- Galaxy is increasing its capacity at Helios to 393MW, potentially growing to 1.7GW.
- They're pivoting from pure Bitcoin mining to focus on AI and high-performance computing.
