THE MINING POD: Hut 8’s Trump-Backed American Bitcoin, Galaxy’s $4.5B CoreWeave Deal, Tariff Impact on Bitcoin Miners
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 4 April 2025
⏱️ 36 minutes
🧾️ Download transcript
Summary
Two stories dominated headlines this week, and they both have to do with Trump: Hut 8 launches a new Trump-back subsidiary, American Bitcoin, and blanket tariffs are set to disrupt everything from auto sales to ASIC miner imports.
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Welcome to The Mining Pod's news roundup! Colin Harper and Matt Kimmel are joined by special guest Ethan Vera, the COO of Luxor, to discuss one of the most electric weeks for bitcoin mining news this year. They break down Hut8's new Trump-affiliated subsidiary American Bitcoin, Galaxy Digital's 15-year, $4.5 billion hosting agreement with CoreWeave, and how the Trump administration's blanket tariffs are bad news for miners and could lead to a 20-30% rise in ASIC miner prices. Plus, they cover Cango’s proposal to sell its auto-finance business to a Bitmain-linked entity for $352 million, and for this week’s cry corner, why Jack Dorsey thinks Lightning just isn’t cutting it.
# Notes:
- Hash price at pre-election lows of $40/PH/s/day
- Hut 8’sTrump-backed American Bitcoin
- Galaxy-CoreWeave deal worth $4.5B over 15 years
- New tariffs that will impact miners: 36% Thailand, 32% Indonesia, 24% Malaysia
-Cango proposes to sell its autofi business for $352 million
- Jack Dorsey: "We can do better than Lightning"
Timestamps:
00:00 Start
01:50 Difficulty Report
04:58 Trumps enter BTC mining
11:14 Galaxy CoreWeave deal
16:14 Tariffs are taxes
25:14 Cango Exits Auto Business
30:40 Cry Corner-LN a failure?
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Transcript
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| 0:49.7 | What's up, y'all? Welcome back to the Mining Pod News news roundup edition we've got your boy Colin |
| 0:55.1 | Harper Matt Kimmel and special guest Ethan Vera CEO of Luxor gentlemen how are we today |
| 1:01.0 | great thanks for having us yeah excited to be here a lot of good topics to cover yeah very |
| 1:08.3 | very busy week we're going to be touching on some good news and some bad news. |
| 1:13.9 | We'll start off with HUD-Ate's American Bitcoin venture that is doing in partnership with Eric Trump and Donald Trump Jr. |
| 1:20.8 | Move on to Galaxy's Big Deal with CoreWeave for HPC hosting. |
| 1:25.9 | We've also got the usual Bitcoin data and difficulty update. Then an |
| 1:30.4 | unfortunate Q&A with our own Mr. Barra here on the biggest news to come out of the geopolitical |
| 1:37.2 | macroeconomic realm. And also for Bitcoin miners, the blanket tariffs, the Trump administration is |
| 1:42.1 | now rolling out against basically every country, |
| 1:44.6 | including some islands like the McDonald Islands in the southern hemisphere that don't even |
| 1:49.9 | have a population. It's just a bunch of penguins. And we will close with Kango shedding its |
... |
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