👋 Welcome back, miners!
Major Headlines in Crypto & Mining This Week:

• Energy Over Halvings

• Hashrate Up, Profits Down

• Beyond Bitcoin Mining

• Tariffs & Environmental Challenges

• This Week’s Public Crypto & Mining News 🗞️

• Meme of the Week 😂 

1/ Power Is the New Currency

Executives at the recent SALT conference highlighted that the traditional four-year halving cycle is losing its significance. Instead, access to cheap energy and diversified infrastructure is now critical to mining profitability. Companies like Cleanspark and IREN are expanding into AI and data centers to stabilize revenue streams beyond just mining bitcoin.

The focus has shifted from hash rate to how to monetize megawatts of power effectively amid tightening mining margins and rising mining difficulty.

Miners must innovate beyond just mining, focusing on energy management and infrastructure diversification or face becoming uncompetitive. This signals a tougher landscape for smaller or less flexible miners.

2/ Record Network Hashrate and Rising Difficulty

Bitcoin’s mining power has bounced back after the summer slowdown, reaching a new record difficulty of 129 trillion. But miners are earning less because income per unit of mining power (hashprice) is still below $60/PH/s, and fees from transactions make up less than 1% of rewards. Big public miners like MARA, IREN, and Cleanspark are steadily taking a bigger share of mining rewards. At the same time, higher tariffs and rising equipment costs are adding pressure.

Profits from mining are getting tighter, forcing out smaller or less efficient miners. Bigger players with strong finances are growing their control of the market.

3/ Growing Energy Costs and Diversification

Many miners, such as IREN and MARA, are putting money into GPUs and edge computing, expanding beyond just Bitcoin mining. Hut 8 has also announced new large data center projects with big financial support. The industry is becoming more unpredictable, much like the oil industry’s cycles of boom and bust.

Miners are shifting money into new tech and business models to create more stable income in a market where energy costs are rising.

4/ Rising Regulatory & Environmental Challenges

The U.S. has raised tariffs on mining machines, and disputes with Customs could lead to heavy costs for miners. Environmental worries are also growing, as mining operations in rural areas face criticism over noise, pollution, and use of resources.

Extra costs from rules and community opposition make the future less certain, especially for miners who don’t have strong ties with local governments or communities.

🗞️ This week - Crypto & Bitcoin Mining News

1. American Bitcoin: 80% Hut 8, 20% Trump brothers → merging with Gryphon before Nasdaq debut.

2. Texas: Locals move to incorporate town to curb Bitcoin mine noise.

3. Iren: Revenue +228%, 50 EH/s, Nvidia “preferred partner,” stock +15%.

4. Demand > Supply: Institutions buy 1,755 BTC/day vs. 450 mined.

5. Valuations: U.S. miners hit record $39B market cap.

😂 Meme of the Week

Source: @msmlone

Source: @theblockopedia_

Till next time,

Did you know?
Bitcoin just touched 1 ZH/s (a sextillion hashes/sec). The zettahash era is here.

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Stay curious, leaders!
PS. If you missed yesterday’s issue, you can find it here.