The Blockspace Pod: Wall Street Just Gave Your Bitcoin Bonds A (BBB) Triple B Rating

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Business News, News, Daily News, Tech News

4.7 • 698 Ratings

🗓️ 21 February 2026

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

We just had a historic 14% difficulty adjustment, weather-driven hash rate curtailments, and the groundbreaking Bitcoin-backed bond from Ledn. Get your tickets to OPNEXT 2026 before prices increase! Join us on April 16 in NYC for technical discussions, investor talks, and intimate conversation with the brightest minds in Bitcoin. Matt from CoinShares, Kaan from Luxor, and Jay from Lygos join us to talk about the massive 14.7% Bitcoin difficulty adjustment and the impact of the recent Arctic blast on North American miners. We dive deep into Luxor's 21-month mining analysis, showing why hedging has outperformed spot mining since the 2024 halving. Finally, we discuss Ledn's historic Triple B-rated Bitcoin-backed bond and how institutional investors are beginning to view Bitcoin as high-quality collateral compared to traditional assets. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Bitcoin difficulty spikes +14.73 • Hashprice drops to all-time low of $30/PH/day. • ERCOT uneconomic hours rose over 900%. • Ledn bond rated Triple B- by S&P Global. • Hedging outperformed spot mining in 2025 Timestamps: 00:00 Start 02:56 Bombshell difficulty adjustment!!! 20:08 Ledn's $188M Bitcoin-Backed Bond Securitization 31:03 Nakamoto acquires Bitcoin Conference & UTXO Mgmt 38:24 Datacenter cry corner/culture corner 👉CleanSpark, America's Bitcoin Miner! CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.

Transcript

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0:00.0	You know, we're talking all about Bitcoin, and we talk a lot about data centers.
0:02.3	Now we talk a lot about AI data centers.
0:04.4	There is a growing and rising populist backlash against these,
0:08.3	a community in New Brunswick, who successfully lobbied to stop the building of a data center.
0:14.0	This is what it looks like when people stand up.
0:17.7	And we say, I'll big fuck you to Big big tech and it's time to build communities, not
0:25.5	data centers.
0:28.5	Spicy video, I mean, the more data centers, the more of these types of backlash will happen.
0:37.3	Hash rate collapsed a couple weeks ago, but it's back with a vengeance,
0:41.8	meaning that Bitcoin just got its largest upward difficulty adjustment in half a decade.
0:47.9	Yes, Bitcoin difficulty just spiked 14%.
0:50.7	Hash rate is back online.
0:53.2	This is a pretty interesting show. This is a live stream that we do every
0:56.8	Friday at noon, and we cover the news. I've got Jay from Lagos, Khan from Luxor, and Matt from
1:03.9	coin shares. We talk about the Nakamoto acquisition. We talk about the lead and raise. Very interesting.
1:10.0	Stick around for that. And we talk about some backlash against data centers.
1:14.4	This episode is brought to you by CleanSpark, America's Bitcoin miner. Let's kick it off.
1:23.9	Hey, Charlie here. Guess what? We just announced our next Bitcoin Technical Conference, Op Next.
1:30.8	That's right, y'all. Op Next is back for 2026. We're running it back after a successful event at Strategies, HQ in Tyson's Virginia last year.
1:39.0	And this year, we are bringing it to the big Apple at the iconic time center in Midtown Manhattan.
1:44.5	We're hosting the big names and projects that you recognize like Robin Linus of BitVM.
1:50.4	Nick Jonas of Blockstream, Antoine Poinsot of ChainCode Labs, and Calais of BitChat will also be
	...

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