The Mining Pod | Bitcoin Mining News

FILL OUT THE SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Colin and Matt are joined by Ethan Vera, the COO of Luxor Technology, to talk about Hut 8's 205 MW Vega facility and its 310 MW deal to deliver electricity to Ontario. Plus, American Bitcoin's $220 million fundraise, an ASIC market update, Tether's surprise mining expansion into Brazil, and how just four public companies now control nearly a quarter of Bitcoin's total hash rate. Subscribe to our newsletter!  **Notes:** • Difficulty dropped 7.48% after US heat wave • American Bitcoin raised $220M private placement • Hut 8 secured 310MW deal with Ontario to supply electricity via natural gas plant • Four miners control 200+ exahashes (~20% network) • ASIC prices are decoupling from hashprice movements  • Tether goes in on mining venture in Brazil Timestamps: 00:00 Start 02:00 Difficulty Report by Luxor 05:32 Hut 8 energizes Vega 06:22 Hut 8 310 MW electricity deal in Ontario 13:57 American Bitcoin raises $220M  18:22 ASIC market update with Ethan 26:33 Antminer S23 market 31:07 China ban reverse rumors 32:09 Tether in Brazil 38:20 50 EH/s club 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Brian Wright, co-head of mining data centers at Galaxy Digital joins us to talk about their massive pivot from bitcoin mining to HPC at the Helios facility. We dive into the company’s CoreWeave partnership, scaling from 200MW to a potential 2.5GW, Texas grid dynamics, and transforming rural Dickens County's economy through data center development. Subscribe to our newsletter!  **Notes:** • 393MW Core Weave deal worth $900M annually • $11-13M per MW retrofit costs vs bitcoin mining • 2.5GW potential campus capacity planned • 800MW currently approved by Ercot • 80% loan-to-cost financing structure • 15-year guaranteed lease agreement signed Timestamps: 00:00 Start 01:48 Core Scientific & Coreweave 03:45 Potential Coreweave acquisitions 05:29 Helios pivot to AI 11:52 Site conversion plans 13:29 What's unique about Helios? 15:51 Fractal Bitcoin 17:35 AI accelerating building? 18:39 Financing 20:26 AI vs mining 22:26 Who pays for retrofit? 25:57 Transition 28:04 Tenants 29:25 Dickens County 31:55 Employee incomes & training 35:01 Politics 36:19 Texas bill SB6 37:15 Interconnect queue 38:26 Fiber line infrastructure 40:02 Can other miners pivot to AI? 41:52 Ending curtailment due to AI 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Luxor CEO Nick Hansen joins Colin to talk about CoreWeave’s bombshell proposal to acquire Core Scientific, Riot selling off part of its stake in Bitfarms at a 59% haircut, a new Texas law forcing data center curtailment during grid emergencies, and why Bitcoin's hash rate drop wasn't caused by US strikes on Iran (spoiler: it was just really hot outside). Subscribe to our newsletter!  **Notes:** • CoreWeave-Core Scientific deal: $4-6B+ estimated • Riot sells part of its Bitfarms stake • Hash rate dropped from 944 to 808 EH/s • 7% difficulty adjustment coming (potentially largest since Dec 2022) • Texas projects 138GW load by 2030 vs 87GW today • Hashprice currently around $54-56/day Timestamps: 00:00 Start 02:26 Difficulty Report by Luxor 06:20 CoreWeave to buy Core Scientific 16:41 Riot sells Bitfarms Shares 22:44 US hashrate peak? 25:37 Texas curtailment bill 32:25 Cry Corner: Iran Strikes 37:02 Zetahash inbound? 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Brandon Bailey of Second Gate Advisory joins Will to talk about Bitcoin ATMs, an overlooked Bitcoin business model with massive potential. In Q1 2025, Bitcoin Depot generated $164.2M in revenue, a 19% increase year-over-year, while outperforming miners in cash flow per unit. We explore why physical ATMs matter in a digital world, expansion opportunities, and how this could be the next big Bitcoin treasury play. Subscribe to our newsletter!  **Notes:** • Bitcoin Depot: $333.1M revenue, +92% YoY • 30,000 Bitcoin ATMs vs 500K traditional ATMs   • ATMs generate $30-40/day vs miners $10-11/day • 4% of Americans (5.6M people) are unbanked • Average transaction size around $300 • 1,300 reserve machines ready for deployment Timestamps: 00:00:00:00 Start 00:01:33:16 Report overview 00:02:48:20 Bitcoin Depot financials 00:05:30:06 Other BTC treasury companies 00:08:52:26 Colorado Air Filter 00:10:57:14 Increasing revenue multiple 00:13:30:08 ATM business history 00:15:03:16 Stablecoins 00:16:37:26 Fractal Bitcoin 00:17:12:25 Physical cash economy 00:19:33:22 Why haven't traditional ATMs added BTC? 00:21:10:20 Per machine cashflows 00:25:27:09 Expansion opportunity 00:31:00:10 Coinflip 00:33:06:11 Wrap up 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Haley Thomson from Luxor Technology joins Will and Colin to discuss how Texas bitcoin miners are adapting to 4CP, peak load occurrences in the ERCOT system. On the news front, the trio covers US-listed public miners reaching a record 31.6% of Bitcoin's hashrate, Antalpha's stellar Q1, and growing concerns about whether or not the growing corporate treasury strategy trend is becoming a bubble. Subscribe to our newsletter!  **Notes:** • US miners hit 31.6% network hash rate record • Antalpha's loan book grew to $1.77B in Q1 • Texas miners represent 15-20% global hash rate • Hash prices just above $50 per petahash/day • 3.5% of Texas peak load is flexible mining Timestamps: 00:00 Start 02:05 Difficulty Report by Luxor 06:09 Antalpha lending book & Tether 11:47 Fractal Bitcoin 12:24 ERCOT electricity market 26:07 JP Morgan report 35:39 Corporate crypto treasury bubble 44:08 Cry Corner: Semler Scientific Warning Sign 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Sean McDonough, president and founder of New West Data joins us to talk about the company’s vertically integrated oil and gas bitcoin mining operations in Alberta, Canada. We explore the pros and cons of full O&G ownership versus JV partnerships, barriers for large oil companies entering Bitcoin mining, regulatory considerations in Alberta, and the convergence of oil, gas, and AI data centers. Subscribe to our newsletter!  **Notes:** • New West: $1.5M CAD per megawatt CapEx cost • Alberta flare gas mining still relatively small scale • Dual revenue streams: oil sales + Bitcoin mining • Cash flows split evenly between oil and Bitcoin • Generators are largest CapEx item, more than miners • Hash rate trading in 800-900 range for months 00:00 Start 02:38 New West 04:26 Ownership instead of service 07:35 Why don't we see more miner vertical integration 10:06 JV's and risk 10:56 Nat Gas economics 12:30 Nat Gas more profitable than mining? 15:48 Regulation in Alberta 17:57 Understanding of BTC mining in Alberta 19:58 Drillers shifting thinking 24:37 Economics of pure play Nat Gas mining? 28:45 Have oil producers soured on BTC miners? 32:55 NYDIG & Caruso buyout 36:09 Ai energy bottleneck 41:00 Hashrate predictions 42:41 Hashrate chart waves 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Will, Colin, Matt, and Nick discuss Bitcoin mining's summer slowdown, American Bitcoin's massive 25 EH/s anticipated ramp up, a big week for public miner fundraising, Amazon's $20B Pennsylvania data center investment, institutional ETF flows showing hedge fund exits, and the controversial filter wars dividing Bitcoin's community. Subscribe to our newsletter!  **Notes:** • Hash rate trading 820-930 EH range lately • American Bitcoin raising for $320M U3S21EXPH buy • IREN upsizes convertible note to $500M  • Amazon investing $20B in Pennsylvania • Hedge fund ETT holdings dropped from 122K to 83K BTC in Q1 00:00 Start 01:12 Difficulty Report by Luxor 06:37 American Bitcoin $320M U3S21 Cost 13:40 Fundraising season 23:07 Hedge funds ditched BTC ETFs in Q1 32:08 Amazon going balls deep in PA 37:41 Cry Corner - The Filter Boys Mount UP! 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Dipuo Patel, CTO of Soluna, joins us to talk about renewable-powered Bitcoin mining operations, including Soluna's Project Annie - a 75MW solar-powered data center in northeast Texas. We dive into the challenges of behind-the-meter renewable mining, curtailment solutions, production tax credits, and how Bitcoin mining can solve renewable energy's biggest problems. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: - Project Annie: 75MW data center, 140MW solar farm - Texas has massive renewable energy scale - Production tax credits incentivize green energy - Behind-the-meter regulations are complex - Wind farms often run at 30-40% capacity - Battery storage too expensive for Bitcoin mining Timestamps: 00:00 Start 01:51 Green energy 07:34 Behind the meter 10:36 Markets other than Texas 14:01 Renewable energy credits 17:05 Project Annie 19:33 Tax credit rules 26:38 Renewables, AI & uptime 33:16 Owning vs service provider 37:11 Headwinds for renewables 44:43 Batteries 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

FILL OUT THE MINING POD SURVEY BY CLICKING HERE Welcome back to The Mining Pod! Today, Will, Colin and Matt talk about May mining production numbers from major players like CleanSpark, Riot, and Marathon; the explosive growth of corporate Bitcoin treasury companies following MicroStrategy's playbook; and CoreWeave’s $7 billion deal with Applied Digital. Plus, for this week’s cry corner, silver just hit a 13-year high, but it’s still only up 5% in those 13 years… Subscribe to our newsletter!  **Notes:** • Hash price currently around $52 per petahash/day • CleanSpark mined 694 BTC in May at 45.6 EH/s • Riot sold 500 BTC for $51M operational costs • Marathon holds almost 50,000 Bitcoin treasury • Applied Digital signed $7B, 15-year AI deal • Silver hit $36, highest since February 2012 Timestamps: 00:00 Start 01:08 Difficulty Report by Luxor 06:16 Monthly Production Figures 16:55 Fractal Bitcoin 17:30 The Bitcoin Treasury Movement 24:16 Saylor’s copycats fall behind 30:03 Applied Digital and CoreWeave 33:27 Cry Corner - Silver rips higher 37:43 Circle IPO 👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy. And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today! 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! Learn more about your ad choices. Visit megaphone.fm/adchoices

Tyler Page, CEO of Cipher Mining and Wall Street veteran, and Chris Totin, former construction lead for Google, share exciting insights into Cipher's shift towards hybrid AI and HPC data centers. They discuss SoftBank’s $50M investment and the strategic benefits of integrating Bitcoin mining with AI workloads. The duo dives into the challenges of designing flexible data centers and the future of mining in a rapidly evolving tech landscape. With costs as low as 2.7 cents/kWh, Cipher is poised to lead in innovative mining solutions.