Trading the AI/HPC Sector, Bitdeer's ASIC, Bitcoin’s Parabolic Hashrate w/Pennyether

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4.7 • 698 Ratings

🗓️ 30 September 2025

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Fan favorite Pennyether joins the show to discuss the bitcoin mining stocks, the future growth of Bitcoin’s hashrate, and more. Click Here To Join the BitAxe Giveaway! Welcome back to The Mining Pod! Today, independent stock analyst Pennyether joins us to talk about Bitcoin hashrate crossing 1 zettahash, the economics of ASIC manufacturing, and how Bitdeer could challenge Bitmain's dominance. We explore why miners spend 35-40% of revenue on ASICs, the HPC narrative driving mining stocks up, and why hashrate will continue growing exponentially despite megawatt concerns. **Notes:** • Bitcoin hashrate officially crossed 1 zettahash • ASIC manufacturers capture 35-40% of mining revenue • $19B+ annual Bitcoin mining revenue potential • Bitfarms stock rose 138% in one week • Bitdeer using TSMC for competitive advantage • HPC deals 2-5x more profitable than mining Timestamps 00:00 Start 05:38 Who is Penny? 08:39 Testing ideas & mining data 14:31 ASIC manufacturing market 24:10 Hashrate 28:28 HPC & AI 31:14 Valuation with & without deals 36:24 ASICs & Bitdeer 40:34 ASIC margins 45:21 Cannan 49:19 Vertical integration 52:42 When mining stocks polymarket? 👉CleanSpark, America's Bitcoin Miner! CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading Bitcoin miner with a proven track record of success. They own a fully self-operated portfolio of mining facilities across the U.S. powered by globally competitive energy prices. CleanSpark sits at the intersection of Bitcoin, energy, operational excellence and capital stewardship. Optimally monetizing low-cost, high reliability electricity positions them to prosper in an ever-changing world. 👉 FBOX, Cooling for Bitcoin Mining and the AI Data Center Transformation FBOX is the global leader in cooling system manufacturing, with the #1 shipment volume of bitcoin mining containers worldwide. Not only powering for the strongest hashrate, their technology also helps mining infrastructure transform into AI data centers. Backed by the largest production scale on earth, global deployment capability, and a full range of cooling solutions, they are shaping the future of compute. 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Colorado Air Filter, Leaders In Mining HVAC Solutions! Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact sales@coloradoairfilter.com Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

Transcript

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0:00.0	As of recording, BitFarms, it rose like 138%. There was like, Wolf got a deal. Then Nebius did an announcement. And Iron pumped. And Iron also had like a really good earnings where they like sort of said, yeah, we're going to build AIPC and we're going to host our own GPUs. And it's going to look great. Who was after that? Then Cypher started pumping. And then BitFarm started pumping. So to me it looks like that's the chain.
0:23.0	Hive and Hutt 8 are also pumping too.
0:24.7	Oh yeah, Hive and HUD-Aid are also pumping too. Oh, yeah, I don't watch them as closely, but they've, you know, anyone with the HBC narrative. Yeah. So the way I view that is, if you look at like, if you want to say what's a stock worth, a mining company stock worth. You sort of make like a probability
0:38.0	distribution of where hash price is going to go and you crunch up the numbers and you arrive at
0:42.5	some valuation. Now it's like, then it was like, oh, 95% they're going to do that. But there's a
0:47.6	5% chance they get HBC megawatts. And the numbers here are like three or like two to five times
0:53.7	as profitable for the same
0:54.9	amount of megawatts.
0:55.6	So now there's a 5% chance that they get somewhere in this curve of megawatts.
1:00.0	And that's very lucrative.
1:01.4	So it's just stronger weighting of the HPC valuation potential going on right now.
1:05.8	It's like they're mining companies, but also their digital infrastructure is becoming perceived to be
1:12.4	worth more and more and more and actually worth more and more as the assigned deals, but also
1:16.4	the perception of that, you know, less of a mining company, more of AIHPC.
1:19.8	Yeah.
1:20.2	I think that explains a lot of the price movement.
1:22.5	Today we're joined by Penny Ether.
1:24.2	He's an expert on Bitcoin mining.
1:26.1	Anything's Bit Deer might be able to disrupt
1:28.3	a $20 billion ASIC market dominated by BitMain. Plus, why he thinks Bitcoin hash rate will
1:34.9	continue to go parabolic, despite the rise of AIHPC and Bitcoin miners dedicating their
1:40.7	megawatts towards chatGBT. This and more on today's episode of the mining pod, presented by CleanSpark, America's
	...

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