Bitcoin miners are entering a period of new structural risk tied to power contracts, firmware systems, and hosting agreements as the industry approaches the new year, according to Matthew Case, an independent analyst who tracks mining economics. In a recent X post, Case described these pressures as forces operating beneath the surface while miners remain focused on the next halving (in 2028) and hardware cycle. The analyst argued that these vulnerabilities could shape who controls Bitcoin’s hash rate and ...

Next ₿itcoin Halving Progress▓▓▓▓▓▓▓▓▓▓▓▓░░░░░░░░░░░░ 40%Loading…Please HODLCurrent Block: 924,234Halving Block: 1,050,000Blocks Remaining: 125,766Days Remaining: ~874 ...

The crypto market is crashing, but the next big crypto catalyst is coming. And I can prove it. Nobody seems to be speaking about this, but it's coming.And if it's anything like our last two catalysts, this could skyrocket the Bitcoin price over 70% over 44%. The last catalyst was the Genius Act. The catalyst before that was the ETFs combined with the Bitcoin having.And this is bigger. This catalyst is bigger than just Bitcoin, bigger than stable coins because it affects the entire crypto market. And for exa ...

Group 1: Market Liquidity Trends - The total global stablecoin market cap has decreased from $309 billion to $305 billion in November 2025, indicating the first contraction after two years of growth, suggesting weaker liquidity ahead [1] - USDT supply is declining, which is a common early indicator of capital flowing out of risk assets, historically leading to downward pressure on Bitcoin [2] - ETF inflows and Digital Asset Trusts (DATs) are also showing signs of fatigue, confirming a broad-based cooling of liquidity across the market [3] Group 2: Bitcoin Halving and Market Dynamics - The traditional Bitcoin Halving model, which has historically triggered major price rallies, may no longer be valid as liquidity expansion and halving are not aligning in 2025 [6] - Analysts suggest that global liquidity, influenced by the Federal Reserve and ETF flows, is the real market catalyst, potentially extending the current cycle into 2026 [6] - Adez Research argues that large market makers may be promoting a liquidity narrative that lacks real data support, indicating a disconnect between narrative and actual market conditions [7] Group 3: Historical Analysis and Correlation - An analysis of Bitcoin's historical cycles since 2013 shows no consistent correlation between changes in the Federal Reserve's balance sheet and Bitcoin's performance, undermining the Liquidity Bitcoin Halving correlation thesis [8]

Core Insights - The Bitcoin mining industry is facing significant profitability challenges, with hash prices dropping to around $42 per petahash per second (PH/s), nearing break-even levels that threaten smaller mining operations [1][7] - The hash price has been on a downward trend since July, when it peaked at $62 per PH/s, leading to concerns about the viability of weaker miners and prompting larger firms to tighten spending [2][7] - The total hashrate of the Bitcoin network has surpassed 1 zetahash per second (ZH/s), increasing electricity and hardware demands, while many mining firms are shifting focus to AI infrastructure for better margins [5][7] Industry Impact - The decline in hash prices is affecting the entire mining supply chain, with hardware providers experiencing slower sales as miners delay or cancel orders [3] - Manufacturers like Bitdeer are pivoting to self-mining and exploring opportunities in AI and high-performance computing (HPC) to counteract declining hardware demand [4] - Major mining firms, such as Cipher Mining and IREN, are diversifying their business models by securing multi-billion-dollar AI infrastructure deals with tech giants like Amazon and Microsoft [6][7]

The Bitcoin network hashrate hit a record high in October, JPMorgan (JPM) said in a report on Monday. The monthly average network hashrate rose 5% to 1,082 exahashes per second (EH/s), the report said. The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty. At the end of last month, "mining difficulty was 3% higher than the end of September, and 80% higher than ...

Bitcoin Halving Progress - Bitcoin 下一次减半进度已完成约 39% [1] - 剩余区块数量约为 128,084 个 [1] - 预计剩余天数约为 889 天 [1] Block Information - 当前区块高度为 921,916 [1] - 减半区块高度为 1,050,000 [1]

🚨 LATEST: Mid-tier Bitcoin miners surge post-halving. https://t.co/F1UuYMdKYE ...

Next ₿itcoin Halving Progress▓▓▓▓▓▓▓▓▓▓▓▓░░░░░░░░░░░░ 38%Loading…Please HODLCurrent Block: 920,265Halving Block: 1,050,000Blocks Remaining: 129,735Days Remaining: ~900 days ...

Core Insights - Bitfarms, a Toronto-based bitcoin miner, has shifted its focus to high-performance computing (HPC) and artificial intelligence (AI) data centers, which are expected to yield higher profits compared to traditional bitcoin mining [3][9] - The company's stock has surged 211% this year, driven by investor interest in its transition to AI data centers [2][13] - Analysts indicate that the market is currently valuing bitcoin miners primarily based on their HPC/AI opportunities rather than traditional bitcoin mining [4][12] Company Strategy - Bitfarms has recently converted a $300 million credit facility to fund the development of an HPC/AI data center in Pennsylvania, indicating a strong commitment to this new direction [6][7] - The company is positioning itself to capitalize on the growing demand for AI infrastructure, with Pennsylvania emerging as a key hub for such developments [8][9] - The shift to AI is a response to the challenges posed by bitcoin halving, which has reduced mining profitability and prompted miners to seek more efficient energy utilization [10][11] Financial Performance - Despite a reported 87% increase in revenue in the most recent quarter, Bitfarms faced a net loss of $40 million, highlighting significant financial challenges [17] - The company has burned through $431 million in free cash flow over the last 12 months, with only $144 million in cash remaining as of June 2025 [17] - Bitfarms issued $500 million in convertible senior notes due 2031 to support its transition to HPC/AI, alongside the $300 million financing for the Panther Creek project [13] Market Position and Competition - Bitfarms competes with larger players in the AI sector, such as Amazon, Google, and Oracle, which may impact its long-term growth prospects [17] - The company must secure long-term contracts to ensure profitability in its AI data center investments, facing competition from rivals that utilize cheaper energy sources [17] - Analysts suggest that Bitfarms' stock may be overvalued, with an average price target indicating a 12% overvaluation [15]