On the latest Blockspace roundup, the gang cover’s Block’s 40% workforce reduction and our scoop that Magic Eden is quitting the Bitcoin and Ethereum NFT game.
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Welcome back to The Blockspace Podcast! Today, Charlie and Colin cover the Block’s 40% workforce reduction and why the stock ripped 20% on the news. We also dive into the bitcoin mining conditions that are driving hashprice to all-time lows, Blockspace’s scoop that Magic Eden is sunsetting its Bitcoin Ordinals marketplace, MARA’s latest AI partnership, and the Terra/Luna lawsuit against Jane Street. Plus, Luxor’s Michael San Miguel joins the show to discuss the ins and outs of the GPU market.
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Notes:
* Block laid off 40% of its 10,000 employees.
* Block stock surged 20% after the layoff news.
* Bitcoin hash price hit an all-time low of $28.
* Bitcoin difficulty adjusted upward by 14.73%.
* Magic Eden is shutting down BTC and ETH marketplaces, multi-chain wallet
* Bitdeer sold all its bitcoin; Cipher plans to sell its bitcoin in 2026
* MARA forms partnership with data center developer Starwood
Timestamps:
00:00 Start
03:33 Hashrate update via Luxor’s Hashrate Index
09:29 Block lays off 40% of staff
16:37 Magic Eden shutting down
25:54 GPUs & compute
28:03 GPU vs ASIC complexity
29:04 Upgrading hardware
32:16 Finding a compute buyer
34:00 Powershell vs Neocloud
37:12 Compute still in price discovery mode
42:05 MARA earnings
45:20 CIPHER dumping bags
48:44 Jane Street is the new boogyman
59:34 Everyone's short MSTR
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