THE MINING POD: ASIC Market Update, Hut 8 / American Bitcoin Business Updates, Tether’s New Mining Venture, 50 EH/s Club
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 4 July 2025
⏱️ 42 minutes
🧾️ Download transcript
Summary
For this week’s news roundup, we cover trends in the ASIC market, a series of business updates from Hut 8, and Tether’s latest mining venture.
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Welcome back to The Mining Pod! Today, Colin and Matt are joined by Ethan Vera, the COO of Luxor Technology, to talk about Hut 8's 205 MW Vega facility and its 310 MW deal to deliver electricity to Ontario. Plus, American Bitcoin's $220 million fundraise, an ASIC market update, Tether's surprise mining expansion into Brazil, and how just four public companies now control nearly a quarter of Bitcoin's total hash rate.
**Notes:**
• Difficulty dropped 7.48% after US heat wave
• American Bitcoin raised $220M private placement
• Hut 8 secured 310MW deal with Ontario to supply electricity via natural gas plant
• Four miners control 200+ exahashes (~20% network)
• ASIC prices are decoupling from hashprice movements
• Tether goes in on mining venture in Brazil
Timestamps:
00:00 Start
02:00 Difficulty Report by Luxor
05:32 Hut 8 energizes Vega
06:22 Hut 8 310 MW electricity deal in Ontario
13:57 American Bitcoin raises $220M
18:22 ASIC market update with Ethan
26:33 Antminer S23 market
31:07 China ban reverse rumors
32:09 Tether in Brazil
38:20 50 EH/s club
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Transcript
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| 0:00.0 | Hey everyone, Colin here. We're running a short survey to get better information on who listens to the show. |
| 0:06.0 | And we're giving away free block space gear if you fill it out. If you find value in our shows or listen consistently, you can do me a huge favor and fill out the form. |
| 0:14.1 | It takes about 30 seconds and helps me and the block space team keep the show running. You can find a link to the survey in the show notes. Thanks. What's going |
| 0:21.6 | on y'all? Welcome back to the mining pod. News Roundup edition for this week. We've got the usual |
| 0:26.0 | cast of characters, yours truly Colin Harper, and B. Matt Kimmel. And we are also graced with |
| 0:31.5 | the presence of Ethan Vera, CEO of Luxor Technology. Today's show is brought to you by fractal |
| 0:37.1 | Bitcoin, but we'll learn more about them later |
| 0:39.1 | in the show. |
| 0:39.8 | For now, let's get right into it. |
| 0:42.3 | I want to take a second and talk about Colorado Air Filter, a new sponsor for the mining |
| 0:46.1 | pod and a major supplier of air filtration systems for Bitcoin mining sites. |
| 0:50.2 | Colorado Air Filter is currently running a summer sale on their inventory from Mervate |
| 0:53.7 | pleats to hepa filters, shipments to installations, containers to retrofitted buildings. |
| 0:58.0 | Colorado Air Filter has it all. |
| 0:59.6 | Here's what one recent major miner had to say about working with Colorado Air Filter. |
| 1:03.7 | Working with Keith and Colorado Air Filter has been a seamless experience from day one. |
| 1:07.3 | Their filter media consistently meets the demands of our Bitcoin mining facilities, |
| 1:10.8 | ensuring reliable airflow and equipment protection. Heath is responsive, knowledgeable, and understands |
| 1:15.6 | the unique operational pressures in our industry. We value both the quality of the product |
| 1:19.6 | and outstanding service they provide. Units are ready to sell. Contact sales at |
| 1:23.9 | Coloradoairfilter.com using code mining pod to claim 15% off today. Again, that's sales at Coloradoairfilter.com using code mining pod to claim 15% off today. Again, that's |
| 1:29.2 | sales at Coloradoairfilter.com with code mining pod. For those of you listening on the |
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