All right. Welcome back to the mining pod. We're coming at you all live from Nabs in Dallas, Texas. We've got Ethan Vera, CEO of Luxor. Recurring guests. OG podcaster on the mining pod. He's actually more well known for podcasting than anything else. That's my job. Actually, first time live, though. Oh, hey. First time for everything. Sweating? Yeah.

He's sweating a little bit, guys.

But yeah, we're... You want to be able to tell from that side of the camera. We're coming out of y'all live from our booth here at Navs. It's been a great conference. We've got some interesting stories lined up, including a update from Luxor on their energy desk that they just launched. A pretty interesting update there. We've also got, as always, it seems like every single week, weekend and week out, we've got updates on iron, iron and more iron.

We're looking at some numbers for last week's crypto ETP inflows, which were a record-breaking week, as Bitcoin's price would let you all already know.

And we've also got a little update from our friends of the miner mag on underground mining in China. It was a good story. It was a good story. We love having a little light shined on the Chinese mining market. It's not much to be gleaned from it. But every now and then you do get a little glimpse of what's going on there. But we will get to that right after the difficulty in hash rate update. But first, we're from our sponsors. Guys, there is a serious problem right now in Bitcoin mining. We need to talk about it. You need to pay attention to this. Bitcoin miners are identifying as AI companies, and people keep mis-sectoring them. Because they say, well, look, your infrastructure is clearly for Bitcoin mining.

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digital infrastructure today. Let's hop into the difficulty update. So not too much new to report on other than miners might be

looking at a difficulty decrease, which would be very welcome. We've just had an onslaught of

upward difficulty adjustments. I believe it's been like seven in a row. Hash price has been getting

crushed as a result, even as Bitcoin's been flying high.

Transaction fees, nothing to speak of, still pretty low.

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