1 00:00:00,000 --> 00:00:06,020 All right, welcome back. Happy Monday. This is HashredUp, a bit of a news roundup from last week. 2 00:00:06,300 --> 00:00:14,100 We are recording at 940407. We are currently 41 blocks too slow on this fine Thursday, 3 00:00:14,320 --> 00:00:18,420 where it is very, very hot in South Africa, and I'm sweating just standing here. 4 00:00:19,060 --> 00:00:25,580 It's March 12th, so eight days until the difficulty adjustment comes in at a nice minus 4%. 5 00:00:25,580 --> 00:00:34,460 percent miners around the world are rejoicing we are still sitting at 30 59 hash price and i just 6 00:00:34,460 --> 00:00:39,660 wanted to share some of the news stories that piqued my interest last week and get you guys 7 00:00:39,660 --> 00:00:46,460 started the right way hash rate up hardware sales advisory hosting and side brokerage find new and 8 00:00:46,460 --> 00:00:51,340 use basic deals through the website and the telegram channel below make smarter decisions 9 00:00:51,340 --> 00:00:59,360 with hash rate up. First up, we have N-Scale raising $2 billion for AI infrastructure expansion 10 00:00:59,360 --> 00:01:07,380 with NVIDIA and Jane Street backing. N-Scale, formerly a spinoff or a spinoff out of Bitcoin 11 00:01:07,380 --> 00:01:13,020 mining company Archon Energy. We see very noticeable names in this Series C funding, 12 00:01:13,320 --> 00:01:20,760 Citadel, Dell, Jane Street, Lenovo, Nokia, NVIDIA. So all these big companies pushing their money 13 00:01:20,760 --> 00:01:26,060 or pushing their capital into the AI pivot and looking for those companies who have access 14 00:01:26,060 --> 00:01:42,464 to power access to PPAs and not held back by the grid constraints We see noticeable names also on their board Former Meta chief operating officer Sheryl Sandberg former Yahoo president Susan Decker and former UK deputy prime minister Nick Clegg 15 00:01:42,464 --> 00:01:45,704 joining board of directors at the company. 16 00:01:46,004 --> 00:01:48,004 And again, I've highlighted the Bitcoin part here. 17 00:01:48,884 --> 00:01:51,424 The N-scale routes trace back to the Bitcoin mining industry. 18 00:01:51,684 --> 00:01:54,124 The company was spun out of crypto infrastructure operator 19 00:01:54,124 --> 00:01:57,484 Archon Energy in 2024, part of a broader wave of firms 20 00:01:57,484 --> 00:02:04,264 repurposing expertise developed in power intensive Bitcoin mining towards the fast growing market for 21 00:02:04,264 --> 00:02:10,144 AI compute. So it's not just power infrastructure, but it's also knowledge, you know, how to handle 22 00:02:10,144 --> 00:02:15,004 these big power contracts and everything around that, that make these companies that were firmly 23 00:02:15,004 --> 00:02:21,024 into Bitcoin very attractive for this pivot to AI, very attractive to this capital. Now, last week, 24 00:02:21,024 --> 00:02:27,444 we saw the 20th million Bitcoin mined. It took 16 years for the first 20 million. It'll take 25 00:02:27,444 --> 00:02:32,284 another decade for the last million to be mined for the last five percent bitcoin is becoming 26 00:02:32,284 --> 00:02:38,324 extremely scarce and i have my doubts that the wider market even understands how this works or 27 00:02:38,324 --> 00:02:42,824 how scarce bitcoin really is going to be and i think we're going to see a lot of scrambling for 28 00:02:42,824 --> 00:02:47,944 sets over the next couple decades as more and more people realize how valuable bitcoin really is 29 00:02:47,944 --> 00:02:56,564 and how scarce it has become bitx solomining.de got it premium made in germany you want to go fancy 30 00:02:56,564 --> 00:03:00,604 go for NerdX or NerdQX++ for a lot of power. 31 00:03:00,964 --> 00:03:04,224 Worldwide shipping, check out solormining.de today. 32 00:03:04,404 --> 00:03:18,308 Next up a very interesting story for me when it comes to mining Foundry expands into Zcash mining pool as Bitcoin hash price slides This is interesting because it sort of tells the broader story of how the market currently works right 33 00:03:18,308 --> 00:03:22,688 We have $30 hash price, big miners negotiate low fees. 34 00:03:22,988 --> 00:03:28,808 It's a race to the bottom on that front because the PPS pools really provide very similar services. 35 00:03:29,548 --> 00:03:31,728 And then, you know, you have dollar-denominated costs. 36 00:03:31,728 --> 00:03:35,868 you've got wages, you've got lawyer costs, you've got infrastructure costs, all denominated in 37 00:03:35,868 --> 00:03:40,868 dollars. And if hash price is at 30, also the pools are sweating because now the percentage of 38 00:03:40,868 --> 00:03:47,008 the Bitcoin mined on their pool is worth less and they have to make due with less as well. So now 39 00:03:47,008 --> 00:03:53,068 Poundary, one of the biggest mining pools that we have out of the US is looking at Zcash, 40 00:03:53,188 --> 00:03:58,888 becoming a Zcash mining pool. Next up, Google backstop backs terrible shift from Bitcoin to 41 00:03:58,888 --> 00:04:05,348 AI infrastructure, Google has agreed to provide 3.2 billion credit backstop to TerraWolf and take 42 00:04:05,348 --> 00:04:11,808 an equity stake in the company. Again, another huge name jumping into a company that was formerly 43 00:04:11,808 --> 00:04:18,288 all Bitcoin mining. Very interesting. Take this with a grain of salt. It's probably written by AI 44 00:04:18,288 --> 00:04:25,328 and was reviewed by Bailey Pemberton at Simply Wall Street. Now, my favorite story for last week 45 00:04:25,328 --> 00:04:26,768 was the following. 46 00:04:27,488 --> 00:04:29,648 Eskom has a big Bitcoin plan in South Africa. 47 00:04:30,868 --> 00:04:35,308 Eskom, the biggest and only power distributor 48 00:04:35,308 --> 00:04:37,608 and power generator. 49 00:04:38,028 --> 00:04:53,052 I not sure if it the only one depending on municipality but power generation and distribution in South africa is a monopoly by escom escom is the state company that runs that and they have now said that they want 50 00:04:53,052 --> 00:04:58,592 to sell surplus day time energy to bitcoin miners and i'm always a bit on the fence when it comes to 51 00:04:58,592 --> 00:05:04,912 these negotiations or these deals when governments are involved because oftentimes what happens in 52 00:05:04,912 --> 00:05:10,032 these negotiations is that the power producer and distributor doesn't really understand how much 53 00:05:10,032 --> 00:05:15,772 money Bitcoin miners can afford to spend. And also they don't understand truly the position 54 00:05:15,772 --> 00:05:20,492 oftentimes of being in a position where they can either sell it for something or nothing. 55 00:05:20,932 --> 00:05:27,932 And oftentimes the dollar signs pop into their eyes. And then there's a bit of a reality check 56 00:05:27,932 --> 00:05:33,212 where Bitcoin miners say, hey, we can maybe afford a third of what you are envisioning. 57 00:05:33,212 --> 00:05:42,092 And it's really about us being the only demand, demand of last resort that sets the price here or else you can't really sell the power. 58 00:05:42,532 --> 00:05:47,792 And then the fact to be added that Bitcoin mining is a global industry and Bitcoin miners can go anywhere. 59 00:05:47,952 --> 00:06:01,312 However, I really hope this goes forward because I would really love to start a small operation here that makes use of ESCOM power during certain hours of the day where it comes extremely cheap. 60 00:06:01,312 --> 00:06:03,312 There's a lot of surplus here, energy. 61 00:06:03,512 --> 00:06:04,572 There's a lot of grid backlog. 62 00:06:05,312 --> 00:06:08,432 And so this might be really, really nice going forward. 63 00:06:08,892 --> 00:06:09,912 Let's see what comes of this. 64 00:06:10,032 --> 00:06:11,832 I'll make sure to follow this very closely. 65 00:06:12,272 --> 00:06:14,892 That being said, I hope you guys have a fantastic week. 66 00:06:15,212 --> 00:06:16,412 Let me know if you like these. 67 00:06:17,312 --> 00:06:17,932 See you later.