THE MINING POD: CoreWeave-Core Scientific Deal Fails, CleanSpark Eyes 285 MW AI Site, TeraWulf’s $9.5B Fluidstack Deal

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Oct 31, 2025

Ethan Vera, CEO of Luxor and ASIC market expert, joins to discuss the fallout from Core Scientific's failed $9 billion acquisition by CoreWeave. He reveals surprising hash rate growth driven by China and Russia, despite a slowdown in U.S. mining. The conversation dives into CleanSpark’s new 285 MW AI site and TeraWulf's $9.5B deal with FluidStack. They also debate the future of mining pools amidst a controversial soft fork proposal, highlighting the tension between economic incentives and permissionless transactions.

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INSIGHT

China And Russia Fueling Hashrate Surge

Luxor attributes much of recent hashrate growth to deployments in China and Russia.
Public US deployments lag, so manufacturers and farms are plugging machines globally.

INSIGHT

Manufacturers Deploy Machines To Global Hosted Sites

Manufacturers facing weaker US demand are deploying machines in global hosted sites to monetize supply.
Firms like Bitmain and others sell or host their own rigs to avoid idle inventory.

INSIGHT

Avalon Finds A Niche With Support And Efficiency

Canaan/Avalon (A16 XP) resurged by emphasizing customer support and competitive machines.
Efficiency gains may come via hydro cooling and firmware tuning to rival Bitmain's S23.

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Core Scientific shareholders voted no on CoreWeave’s $9 billion acquisition proposal, and CleanSpark acquired a Texas site for a 285 MW AI site.

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Welcome back to The Mining Pod! For this week’s roundup, we break down Core Scientific shareholders voting NO on the $9B CoreWeave acquisition, CleanSpark's plans for a new 285 megawatt Texas site for AI workloads, and TeraWulf's record 25-year contract with FluidStack. Plus, Ethan Vera from Luxor joins to analyze the ASIC market and where hash rate growth is really coming from. And for this week’s cry corner, why the filter soft fork is doomed to fail.

Notes:

• Core Scientific shareholders rejected CoreWeave deal

• Hashprice dropped to $43.73 per petahash daily

• Difficulty adjusted upward 6.3%

• Hashrate reached 1.1 zettahash on 7-day average

• CleanSpark acquired Texas site with 300 MW pipeline

• TeraWulf signed 25-year deal with FluidStack

Timestamps:

00:00 Start

02:09 Difficulty Report by Luxor

07:47 ASIC market update

12:01 CORZ deal fails

22:14 CleanSpark data center acquisition

27:51 WULF $9.5B FS extension

33:36 Cry Corner: Fork time?

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