The Mining Pod

MARA invested over $30 million into ASIC manufacturer, Auradine. This investment gives the company a big say in the design of Auradine's bitcoin miners, says MARA's CSO Adam Swick.

The U.S. CBP was seizing Bitcoin miners at U.S. ports of entry. Bitcoin miners lobbied the White House and other groups, likely ending the stoppages. But are we out of the woods yet?

“Bitmain and all these other ASIC manufacturers are using 3 nm chips from TSMC’s Taiwan facility.” Colin Harper joins The Mining Pod to talk about global silicon markets after Trump’s tariffs. VIDEO ?? Watch: https://loom.ly/0marjcc

Crisis Over? U.S. CBP & Bitcoin ASIC Importation Today we discuss the U.S. Customs and Border Protection seizing Bitcoin mining hardware at entry ports. Starting with Antminer units in late 2024, seizures grew to include Whatsminer and Canaan equipment, costing companies millions. Industry lobbying, led by Senator Lummis and Trump administration ties, is resolving the issue. We report (and speculate a bit) on reasons behind the seizures and potential shifts to onshore manufacturing. Notes: - $5 million in hardware seized from one company - Seizures expanded from Antminer to Whatsminer/Canaan - Detentions began September 2024, escalated to seizures by February 2025 - Shipments released after lobbying - Senator Lummis and White House aided resolution - CBP cited unauthorized communications equipment laws https://lnkd.in/gDKBDcF2

Is the tide going out on the infrastructure trade? Microsoft has begun canceling various data center development projects—both nationally and internationally—signaling a change in pace for data center infrastructure investments, per an analysts?note?from TD Cowen Friday. “We learned via our channel checks that Microsoft 1) walked away from multiple +100MW deals in multiple markets that were in early/mid-stages of negotiations, 2) let +1GW of LOIs on larger footprint site expire, and 3) walked away from at least five land parcels that it had under contract in multiple Tier 1 markets,” the analyst note states. The TD Cowen report linked back to OpenAI’s Stargate initiative—a $500 billion masterplan from the Trump administration, SoftBank, Oracle, and OpenAI to build hundreds of megawatts in the U.S. According to a press release on January 21, OpenAI plans on shifting some of its data center needs from Microsoft Azure to Stargate. TD Cowen thinks the data center cancellations and Stargate are connected. Let’s not get ahead of ourselves, however. In an interview with Jefferies, Microsoft?refuted?TD Cowen’s analysis, stating that they “have already invested heavily in DC in the last few years” and that while “capex growth [will] slow yoy from the 50-60% rate” it remains relatively high. The Microsoft news leaves us with three thoughts: 1) Microsoft is the canary in the coal mine, demonstrating that the market’s appetite for high-cost megawatts is abating; 2) Microsoft is making a momentary, strategic pullback after losing out to Stargate partners amid OpenAI’s insatiable demand for energy; or 3) TD Cowen’s has erred. For Bitcoin miners—who have patiently awaited a bid since October—the benefits depend on their profile. For pure-play miners (CleanSpark MARA, etc) the first scenario is likely superior, as it implies less future competition. Remember, pure-play miners have historically acquired sites incrementally as they expand their energy capacity, making them more vulnerable to market pricing. For hybrid or “mullet miners,” the second scenario is clearly preferable, as Microsoft and others will need more rack space—after all, who wouldn’t want to be the landlord? But let’s be honest: do we really see this train slowing down? If you like this, subscribe to our newsletter for 3 original pieces of content per week plus a weekly news summary. https://lnkd.in/gBjbbHgs

Bitcoin mining has created 31,020 jobs in the United States and generated $4.14 billion in GDP, according to the Texas Blockchain Council and the Chamber of Digital Commerce. Listen on in the latest Mining Pod to learn more about bitcoin mining’s economic impact in the U.S.A.

Bitcoin's hashrate is dropping, so the next difficulty adjustment will finally give miners some reprieve. We break down the latest bitcoin mining data from Luxor's Hashrate Index on the Mining Pod.

BlackRock’s $2B Mining Holdings, BitFuFu’s $20.4M Buy, BTC Mining’s Economic Impact, and Milei’s Scamcoin Welcome back to The Mining Pod! This week's news roundup features the boys with receipts on billions invested by institutions in public bitcoin miners. BitFuFu expands in the U.S. with a $20.4 million Oklahoma bitcoin mine deal, while Core Scientific may shift its AI/HPC strategy with an acquisition. The Texas Blockchain Council reports on bitcoin mining's job creation in the U.S. In this week's cry corner, Argentina's President Javier Milei faces impeachment over a memecoin rugpull. Notes: - Hash price at $55/TH/day - Expected -2.47% difficulty adjustment - BlackRock, Vanguard own ~$4B worth of bitcoin miners - BitFuFu is buying a 51 MW OK mine for $20.4M - Texas mining: $4.23B economic impact - Core Scientific: $400M Alabama investment Watch: https://lnkd.in/gcc_Jsrg