Bitcoin nukes to $65k as the industry faces a historic selloff. We cover a massive 13% difficulty drop, France’s pushback against Mara’s energy deal, Tether’s $100M investment, and massive power expansions from TerraWulf and Cipher Mining. Stay sane with our weekly news roundup.
Charlie, Colin, and Matt break down Bitcoin's brutal 50% drawdown and the resulting 13% difficulty adjustment. We dive into the geopolitical tension in France over Mara’s data center acquisition and Tether’s strategic move into Anchorage Digital. We also break down the massive $2 billion debt offering from Cipher Mining that was 6x oversubscribed and TeraWulf's 1.5GW power grab. Whether it's hash price hitting record lows or institutional funds unwinding, we’ve got the pulse on the markets.
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Notes:
* Estimated 13% downward difficulty adjustment.
* Hashprice hit daily lows near $30.
* TeraWulf added 1.5GW potential power capacity.
* Cipher Mining $2B note saw $13B in bidding.
* Tether invested $100M into Anchorage Digital.
Timestamps:
00:00 Start
02:58 Bitcoin sell off
10:19 Gemini exit EU & AU
14:41 Difficulty Report by Luxor
20:44 France stalls MARA takeover bid for Exaion
26:19 Tether invests in Anchorage digital
29:17 CAPEX still going strong?
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