Show Notes
In this episode of HashrateUp, Jesse breaks down the latest Bitcoin mining news -- from hash price and difficulty trends to public miner financials, Bhutan's Bitcoin sell-off, AI competition for power, and new developments from Luxor, Tether, and the solo mining community.
What are public miners actually paying to produce one Bitcoin once you factor in salaries, financing, and overhead beyond the electricity bill? Jesse challenges the "3.8 cents all-in" narrative from Riot's Q1 2026 report and questions whether large-scale miners are truly profitable at current prices. Also covered: CoinShares estimates up to 20% of miners are now below breakeven, Bhutan has offloaded 70% of its Bitcoin reserves in 18 months, and Anthropic's multi-gigawatt compute deal is intensifying competition for cheap power across the U.S.
On the innovation side: Tether and Canaan are developing modular mining infrastructure that separates compute from power and enclosure, Luxor has committed to a $100M MicroBT hardware purchase alongside a new miner OS for the M50 series, and the Parasite Pool mined its second block just 48 days after its first.
0:00 Hash price, difficulty & mempool update
1:47 Seal Miner A4 & Riot sells BTC to fund AI pivot
2:22 What public miners actually pay to produce 1 BTC
3:51 Bhutan sold 70% of its Bitcoin in 18 months
5:57 AI is competing for miners' cheap power (Anthropic)
7:17 CoinShares: 20% of miners unprofitable
8:51 Parasite Pool mines 2nd block in 48 days
9:59 Hut 8, Tether x Canaan & Luxor x MicroBT
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