The hottest Hardware Substack posts right now

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AI Fueling the Next Mining Stocks Rally?

Miner Weekly • 0 implied HN points • 23 May 24
💰 Finance Cryptocurrency Stocks Regulation Hardware Infrastructure
  1. Bitcoin mining stocks have shown varied performance after the halving, with some outperforming bitcoin's returns.
  2. The Price-to-Hash (P/H) ratio is a key metric for evaluating public bitcoin miner companies, indicating the estimated dollar value per TH/s investors pay.
  3. Companies like BTBT, IREN, and HUT8 have expanded into AI/HPC, lowering their enterprise values and potentially fueling a rally in their stocks.

Finally, Bitcoin Miners Can Catch a Short Breath

Miner Weekly • 0 implied HN points • 09 May 24
🔮 Crypto Regulation Hardware Corporate Feature
  1. Bitcoin's mining difficulty dropped by 6% after nearly 20 days post-fourth halving, giving miners relief.
  2. Some inefficient miners unplugged due to low hashprice, causing a decline in hashrate, but public mining companies remained steady.
  3. Despite the difficulty drop, bitcoin's hashprice is expected to recover, benefitting those who stay connected to the network.
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Bitmain US Ramps Up S19XP Imports Ahead of Halving

Miner Weekly • 0 implied HN points • 04 Apr 24
🕹 Technology Crypto Hardware Infrastructure Corporate Financial
  1. Bitmain's US subsidiary in Georgia imported a significant amount of miners in March to prepare for the upcoming halving.
  2. Bitmain's recent boost in imports includes models like S19XP, S19j XP, and S19XP Hydro, marking a strategic move in the crypto mining industry.
  3. The growth and strategic decisions of Bitmain and its subsidiaries, like BitFuFu, can influence the overall hash rate landscape in the crypto mining sector.

Marathon Eyes $1.5B Offering after Raising $750M

Miner Weekly • 0 implied HN points • 29 Feb 24
💼 Business Finance Regulation Hardware Infrastructure Corporate
  1. Publicly traded mining companies are raising substantial funds through stock offerings, with three top miners collecting $1.6 billion since October.
  2. Marathon has raised $750 million through its ATM program and plans for an additional $1.5 billion offering, focusing on infrastructure investments for 2024 and 2025.
  3. Major mining companies like Riot and CleanSpark are also making significant purchases of new miners and infrastructure upgrades to enhance their operations.

Public Miners Stock Up BTC Reserves

Miner Weekly • 0 implied HN points • 08 Feb 24
💰 Finance Mining Regulation Hardware Corporate Financial
  1. Public mining companies are increasing their Bitcoin reserves, reaching a total of 40,000 BTC for the first time since May 2022.
  2. Some public mining companies have been selling a portion of their monthly Bitcoin production, but others, like Riot, plan to retain more in the near term.
  3. The level of Bitcoin liquidation varies among mining companies, with some selling less than others and some even selling more than they mine in a month.

S19XPs May Not be Entirely Safe Post Halving

Miner Weekly • 0 implied HN points • 25 Jan 24
💰 Finance Cryptocurrency Markets Regulation Hardware Corporate
  1. Bitcoin's hashprice is expected to drop by roughly 50% immediately after halving, potentially impacting miners' profitability.
  2. Owners of S19XP bitcoin miners may face challenges post-halving if hashprice decreases below $40/PH/s.
  3. Bitcoin mining is designed to self-regulate, with less efficient operators possibly unplugging from the network in case of bearish hashprices.

Core Settles $34M Claims Stemming from 70K Non-Existent Miners

Miner Weekly • 0 implied HN points • 04 Jan 24
💰 Finance Regulation Hardware Corporate Financial Feature
  1. Core Scientific settled a $34 million claim with Sphere 3D and Gryphon Digital Mining due to 70,000 nonexistent miners, shedding light on failed grand plans during the crypto winter of 2022.
  2. The dispute arose when Gryphon failed to deliver the promised 70,000 mining units, leading to legal battles and bankruptcy filings, emphasizing the risks in the volatile crypto industry.
  3. In the cryptocurrency mining world, promises and contracts must be carefully scrutinized, as demonstrated by the fallout from NuMiner's unfulfilled promises and its impact on major companies like Core Scientific and Sphere 3D.

These Pools Are Consolidating Bitcoin Block Rewards with Antpool

Miner Weekly • 0 implied HN points • 28 Dec 23
🔮 Crypto Mining Regulation Hardware Financial Feature
  1. Recent development: Antpool saw a resurgence in hashrate, surpassing Foundry USA in blocks mined. Foundry regained some ground, but on-chain transactions suggest a larger hashrate shift to Bitmain-linked Antpool.
  2. Consolidation trend: 10 of the top 15 mining pools have combined coinbase block rewards since last year, with many independent operators involved. Multiple pools regularly send rewards to the same addresses in single transactions.
  3. Financial dynamics: Payout consolidation likely results from financing agreements, where a central entity controls coinbase and addresses. Speculation rises on Antpool's potential as the financier, raising queries on hashrate diversion agreements with other pools.

Bitcoin Mining Hashcost, Explained

Miner Weekly • 0 implied HN points • 21 Dec 23
🔮 Crypto Mining Metrics Companies Hardware Financial
  1. Bitcoin's hashprice reaching new highs above $130/PH/s indicates increasing block rewards from transaction fees.
  2. A new hashcost metric evaluates mining companies' competitiveness by assessing the daily operational costs per hashrate.
  3. Reducing hashcost through improved fleet efficiency and lower energy rates is crucial for mining companies, especially with the halving approaching.

Antpool's hashrate resurgence

Miner Weekly • 0 implied HN points • 30 Oct 23
🔮 Crypto Mining Stocks Regulation Hardware Corporate
  1. Antpool's hashrate saw a significant increase in October, reaching the highest number of blocks mined since 2016.
  2. Antpool is in close competition with Foundry USA Pool, with their combined market share at a historic high of 55%.
  3. The rise in Antpool's hashrate could be connected to their cloud mining business launch and importation of S19XPs to the U.S.

Bitcoin hashrate soars as Bitmain floods US with S19XPs

Miner Weekly • 0 implied HN points • 16 Oct 23
🔮 Crypto Technology Finance Hardware Infrastructure Financial News
  1. Bitcoin's hashrate keeps rising, hitting a record high of 450 EH/s due to increased mining activity and influx of new miners.
  2. Bitmain's U.S. entity has imported a significant number of Antminers, notably the S19XP model, contributing to the growth of bitcoin's hashrate.
  3. North America, especially the U.S., is gaining market share in bitcoin mining with FoundryUSA, Luxor, and MaraPool accounting for a significant portion of total blocks mined.

⚡️Breakeven all-time lows

Miner Weekly • 0 implied HN points • 25 Sep 23
🕹 Technology Bitcoin Mining Regulation Hardware Corporate News
  1. Chinese miner manufacturers like Bitmain, MicroBT, and Canaan are in a competitive race to develop more energy-efficient bitcoin ASICs, which can lower mining costs significantly.
  2. The advancements in energy efficiency of bitcoin ASICs over the years have improved the network's security and lowered the breakeven point for mining operations post-halving.
  3. Higher efficiency ASICs are driving the breakeven point for bitcoin mining down, potentially making it more accessible and profitable for miners, especially with the next halving approaching.

Riot realizes 132% of proprietary hashrate

Miner Weekly • 0 implied HN points • 11 Sep 23
🔮 Crypto Mining Energy Regulation Hardware Corporate
  1. Riot achieved 132% of its proprietary hashrate by utilizing power trades and taking advantage of low hashprices, showcasing a unique approach during the bear market.
  2. Due to dropping hashprices, mining companies like Riot may opt to divert some proprietary hashrate to other activities for better profitability rather than focusing solely on mining.
  3. Riot's strategic energy programs in Texas not only contributed to the state's position as a mining hub but also influenced the overall North American power capacity distribution, strengthening the mining industry.

A $200M Mining Heist and a Life Sentence

Miner Weekly • 0 implied HN points • 28 Aug 23
💰 Finance Regulation Hardware Infrastructure Corporate Feature
  1. Xiao Yi, a former Chinese official, received a life sentence for his involvement in a $200M crypto mining heist.
  2. The case involved bribery, embezzlement, and misuse of government resources, ultimately leading to a significant mining ban in China.
  3. The story showcases the complex interplay between politics, business, and cryptocurrency in the mining industry.

Bitcoin asset managers ramp up mining revenues

Miner Weekly • 0 implied HN points • 21 Aug 23
💼 Business Cryptocurrency Regulation Hardware Corporate Feature
  1. Bitcoin asset managers NYDIG and Galaxy Digital are increasing their mining revenues by ramping up production and infrastructure capacity.
  2. In the latest quarter, NYDIG and Galaxy Digital have reported significant increases in Bitcoin mining revenues.
  3. NYDIG plans to expand mining in South Carolina while Galaxy Digital achieved over 65% gross margin in Q2 from their mining and hosting business.

Core lays out bankruptcy exit plan

Miner Weekly • 0 implied HN points • 26 Jun 23
💰 Finance Mining Regulation Hardware Corporate Feature
  1. Core Scientific plans to emerge from bankruptcy by the end of September, focusing on boosting its market share in bitcoin mining.
  2. The company aims to expand operations in Texas, purchase new miners, and transition to a profit-sharing model for hosting.
  3. Core Scientific intends to continue selling all mined bitcoin soon after production, with plans to invest in new equipment for increased efficiency.

45 EH/s in US bitcoin miner imports

Miner Weekly • 0 implied HN points • 22 Apr 23
💼 Business Crypto Hardware Regulation Feature
  1. Intel discontinues its Blockscale bitcoin ASIC, impacting the US market.
  2. 45 EH/s of bitcoin mining machines from Bitmain, MicroBT, and Canaan have been imported to the US, with top importers identified.
  3. Intel's plans for a stronger presence in bitcoin mining with Blockscale chips faced challenges, requiring buyers to create their full systems.

These miners have outgrown bitcoin's hashrate during the bear

Miner Weekly • 0 implied HN points • 11 Feb 23
🔮 Crypto Regulation Financial Corporate Hardware Feature
  1. Publicly listed bitcoin mining companies have shown significant growth year-over-year despite a bearish 2022.
  2. In Bitcoin mining, it's crucial not only to grow production but also to surpass competitors and the network's average hashrate.
  3. Bitcoin's average hashrate has notably increased in January 2023, prompting a comparison of public mining companies that have exceeded the network's hashrate.

Miner Weekly: Who're mining at a loss?

Miner Weekly • 0 implied HN points • 12 Nov 22
🔮 Crypto Mining Bitcoin Companies Hardware Features
  1. Bitcoin miners may face challenges with profitability if the price of BTC drops below $14,000.
  2. The concept of Hashcost is introduced, showing the raw cost a mining fleet would incur in 24 hours to produce 1 PH/s of hashrate at different energy rates.
  3. Public mining companies could be operating at close to zero or negative gross margins as bitcoin trades around their break-even levels.

Miner Weekly: A Record Low for Mining Revenue?

Miner Weekly • 0 implied HN points • 08 Oct 22
🔮 Crypto Regulation Corporate Hardware News Features
  1. Bitcoin mining difficulty is expected to increase by 13% on Monday, which might lead to record-low mining revenues
  2. If the difficulty rises and Bitcoin's price remains stable, daily mining revenue could decrease significantly
  3. Public mining companies are already facing squeezed gross margins and upcoming production updates may reveal further challenges ahead

Miner Weekly: KucoinPool a Poolin White Label?

Miner Weekly • 0 implied HN points • 17 Sep 22
🔮 Crypto Mining Regulation Hardware Finance Infrastructure
  1. Hashrate movements in major mining pools like Poolin affect the overall distribution of hashing power in the network, leading to observations like KucoinPool potentially being a Poolin white label.
  2. The mining community is reminded of past incidents where crypto exchanges used white labels of established pool operators to attract customers, revealing a dependency on fewer pool operators than commonly assumed.
  3. Regulation, hardware advancements, finance updates, and infrastructure developments are key areas of interest in the mining industry, reflecting the dynamic nature of the cryptocurrency ecosystem.

Miner Weekly: Realized Hashrate – a New Metric

Miner Weekly • 0 implied HN points • 10 Sep 22
🕹 Technology Cryptocurrency Hardware Finance Regulation Infrastructure
  1. Mining companies are optimizing their hashrate capacity instead of selling BTC holdings, showing a shift in strategy.
  2. The introduction of 'Realized Hashrate' as a new metric provides a better understanding of how much of a mining company's computing power is being utilized.
  3. In August, mining companies reduced liquidating their BTC holdings, with Iris Energy notably increasing production.

Miner Weekly: Hashprice Squeeze 🥲

Miner Weekly • 0 implied HN points • 03 Sep 22
💰 Finance Mining Regulation Hardware Finance Infrastructure
  1. Bitcoin mining difficulty increased, causing hashprice to drop to around $0.08 per TH/s, impacting mining profitability and leading to pressure on inefficient miners.
  2. Public bitcoin mining companies have managed to keep mining costs below $20,000, but general expenses could push some companies to exceed $30,000 per BTC, affecting their overall profitability.
  3. Regulations, such as the rejection of green crypto mining studies and veto of crypto mining laws due to energy costs, and hardware news, like companies broadening digital ambitions and increased mining difficulty, continue to shape the crypto mining landscape.

Miner Weekly: Difficulty ATH? Plus GMO vs Whinstone case

Miner Weekly • 0 implied HN points • 27 Aug 22
💰 Finance Regulation Hardware Finance Infrastructure General & Features
  1. Expect a significant difficulty jump in mining next week, which could be the largest of the year, impacting profitability.
  2. The legal disputes between companies like GMO Internet and Whinstone show the challenges faced by miners in a bear market.
  3. Regulation impacts mining operations, such as BitRiver losing clients and ongoing seizures of mining equipment in Iran.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 13 Aug 22
💰 Finance Regulation Hardware Finance Infrastructure General & Features
  1. Bitcoin miners like Marathon and Hut8 faced large impairments amidst a crypto downturn in Q2 while continuing their expansion goals.
  2. M&A activities are on the rise in the mining industry with acquisitions like CleanSpark buying a 36MW mining site and companies like Iris Energy and Cipher Mining boosting their power capacities.
  3. Upcoming earnings reports will shed light on miners' cost of production in Q2 versus Q1, providing insights into the financial health of these companies.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 06 Aug 22
💰 Finance Regulation Hardware Finance Infrastructure General & Features
  1. Bitcoin's mining difficulty increased after miners in Texas resumed operations, leading to a significant impact on production costs.
  2. Many public miners are set to release Q2 earnings reports, providing insight into the spike in energy rates for bitcoin mining.
  3. Regulatory changes in countries like Paraguay and Senate discussions on tax rules are affecting crypto miners worldwide, highlighting the evolving landscape of the industry.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 30 Jul 22
🕹 Technology Mining Regulation Hardware Finance Infrastructure
  1. Bitcoin's hashrate increased by ~8% as Texas miners resume power, significant news announced during Mining Disrupt 2022 and Bitmain's WDMS in Miami
  2. Ethereum Classic saw a surge of over 100% since mid-July due to the Ethereum PoW fork discussion and the debut of AntPool in its ecosystem
  3. Public miners like Stronghold and Mawson released their Q2 production data, showing growth surpassing network competition rise, offering a holistic view of 17 public miners' quarterly production

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 23 Jul 22
💰 Finance Regulation Hardware Finance Infrastructure General
  1. Celsius Network's bitcoin mining salvage plan involves significant investment in facilities and mining rigs to increase production.
  2. Regulators are requesting data from bitcoin miners, while countries like Sweden are prioritizing other industrial projects over bitcoin mining due to power concerns.
  3. Crypto miners are seeing significant financial movements, with stocks of mining firms experiencing gains and some miners exiting positions amid a bitcoin rally.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 17 Jul 22
💼 Business Regulation Hardware Finance Infrastructure General & Features
  1. In Texas, bitcoin miners voluntarily powered down operations due to a heatwave, impacting the state's power grid.
  2. Community concerns in Corsicana, Texas are arising over Riot Blockchain's expansion and its potential effects on electric rates.
  3. Regulation and infrastructure challenges continue to impact the bitcoin mining industry, influencing operations and growth.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 02 Jul 22
🕹 Technology Mining Regulation Hardware Infrastructure General & Features
  1. Mining companies may continue to sell bitcoin and equipment to manage increasing debt levels, potentially impacting market dynamics.
  2. Bitcoin's mining hashprice has stabilized at $90 per PH/s, while some miners are currently operating at a loss.
  3. Regulatory challenges for miners include permit denials, investigations into alleged tax fraud schemes, and the impact of hardware developments on mining profitability.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 25 Jun 22
💰 Finance Regulation Finance Hardware Infrastructure General & Features
  1. Bitcoin miners are deleveraging due to decreased mining difficulty and selling BTC to pay off loans.
  2. There are various regulations affecting crypto mining, including backdated power charges and political pressure in different regions.
  3. Crypto mining companies are making financial moves like selling BTC to repay loans, reporting significant revenue, and acquiring new infrastructure.

Weekly Mining Newsletter

Miner Weekly • 0 implied HN points • 18 Jun 22
💰 Finance Regulation Finance Hardware Infrastructure General & Features
  1. Bitcoin's hashprice has dropped as the price slumps, leading to fears among miners, but some are seizing opportunities.
  2. Regulation updates include cities like Plattsburgh and Shanghai making moves regarding bitcoin mining.
  3. Financially, companies like Bitfarms and TeraWulf are strategizing to boost liquidity and operations amidst market fluctuations.