💥Trump’s Bitcoin Play: Strategic Reserve or Market Shock?

👀 TLDR 🪟

Bitcoin’s hashprice rises to $53/PH/s, easing miner pressure; U.S. Bitcoin ETFs saw $94.34M inflow on Feb. 28, yet ending February 2025 bloody with $3.65B outflows.
U.S. releases seized Chinese miners; Trump praises TSMC’s $100B investment; 14 miners’ market cap drops 22%.
MARA mines 706 BTC; Hut 8 reports $162M revenue; Cathedra sells mine for $5.25M; Bitdeer buys 100 BTC; CoreWeave files for IPO; Argo seeks $40M; Riot mines 470 BTC; CleanSpark’s Q1: $162.3M revenue, plans 50-60 EH/s
Texas approves Bitcoin reserves; New Hampshire advances BTC bill; IMF blocks El Salvador’s purchases, Bukele buys more; South Korea considers BTC ETFs; China may accumulate Bitcoin; AUSTRAC tightens regulations; Belarus explores Bitcoin mining; Bhutan’s $1.1B Bitcoin funds salaries; Brazil’s Méliuz allocates 10% to BTC; Salinas invests 70% of $5.8B in Bitcoin; Russia plans crypto trading for the wealthy; Russia rejects Bitcoin for its wealth fund.
White House supports CRA against DeFi rule; Bitwise introduces BTC & Gold ETP; Emirates NBD enters crypto trading; CFTC and SEC coordinate on regulations; Coinbase targets tokenized securities; SEC drops cases against Kraken and MetaMask; Trump’s World Liberty holds $23.61M in WBTC; US lawmakers establish Crypto Caucus.
Metaplanet buys 497 BTC, stock up 19%; Mt. Gox moves 11,834 BTC; Schiff calls Bitcoin digital gold; BlackRock’s ETF sees $38.9M inflow; MetaMask adds BTC, Solana, and payment cards; Salinas boosts holdings to 70%; Saylor predicts $200T market cap; Strategy saw 8 drops of 30%+ with Bitcoin; Winklevoss says only Bitcoin is hard money; U.S. to buy more Bitcoin, says Treasury.
How will Trump’s first Crypto Summit on March 7 impact the future of digital assets?

For this week’s Hash & Cash Index, BTC price jumps to 88,638, an 8.20% increase from last week, signaling market growth. Market cap stays as above the $1T, settling at $ 1.647 (8.71% WoW). Hashprice sit at $51.27 USD/PH/day, a 10.40% increase. The global hashrate rose 0.55%, reaching 800.42 EH/s. The current epoch’s difficulty remains at 110.57 T this week. We’re at block 1699 of 2016 for this epoch. Rewards decrease to 3.16 BTC per block. Fees in blocks settles to 1.14% showing a decrease of 1.14%. The average block time has increased to 9 minutes and 53 seconds. Source: Hashrate Index, Mempool, ONMINE.

🪄 Pool Power Tools 🎱

This week’s Pool reward index settles to 99.80%, an increase from last week 0.20% with 20 active pools chipping away 1006 blocks. The total miner reward over the last 144 blocks contracted to 455.09 BTC drops 0.15% from last week, the dollar valuation of this rewards rises to $45M (9.08% WoW). Average block fees are equal to 0.0354BTC/block down 11.72% Wow and estimated to be $3,154 per block. Transaction fee per Network transaction equate to 1.65k sats per transaction, costing around $1.46 per transaction on the Bitcoin network over the last 144 block. Source: Mempool, ONMINE

💰 Bitcoin’s hashprice jumps to $53/PH/s, up from $45/PH/s last Thursday, easing pressure on miners.

🧰 Hard-Ware & Hosting Index ⚙

⭐ U.S. authorities have started releasing some seized Chinese-made miners, with thousands of units freed after being held over trade and security issues.

📦 US Customs mistakenly seized thousands of Bitcoin miners, misclassifying them as radio frequency devices.

🇺🇸 Trump hails TSMC as the “most powerful company” as it invests $100B in U.S. chip manufacturing.

📉 JPMorgan: Market cap of 14 U.S. miners fell 22% in February as Bitcoin dropped.

✅ Stronghold shareholders approved the Bitfarms merger, closing in March 2025.

📄 CoreWeave files for Nasdaq IPO under CRWV with a $10.2B deal to convert Bitcoin mines into AI data centers.

⚡ MARA to energize 2.5 EH/s with 10,000+ S21 Pro miners at its nearly finished 40MW Ohio data center.

MARA mined 706 BTC in February with a 44.14 EH/s realized hashrate, retaining all BTC and growing reserves to 46,374 BTC.

⚡ Hut 8 reported $162M revenue, $331M net income, 1,020 MW managed, 10,171 BTC held (~$905M), a $125M Bitmain deal, and a $150M AI investment.

💰 Cathedra sells 25% of a 60MW North Dakota mine for $5.25M, plans reinvestment.

⛏️ Bitdeer acquired 100 BTC at an average price of $85,877 during the market dip.

🚀 CoreWeave files for IPO, reporting $1.9B AI revenue in 2024 with a 62% margin and a $35B valuation target.

📉 Argo seeks $40M in convertible loans to survive aging mining rigs and cash struggles.

⛏️ Riot mined 470 BTC in February, up 12% YoY but down 11% from January.

📊 CleanSpark’s Q1 2025 revenue hit $162.3M, up 120% YoY, with $241.7M net income.

CleanSpark’s Q1 2025 total assets grew 41.6% YoY to $2.78B, driven by Bitcoin holdings and mining expansions, while total current liabilities dropped to $96.7M from $187.9M due to loan repayments, long-term liabilities rose to $641.4M from $7.2M due to new convertible debt, stockholders’ equity increased 14.8% YoY to $2.02B, and the debt-to-equity ratio climbed to 0.32 from 0.08, reflecting a strategic increase in leverage to fund growth.

CleanSpark aims to reach 50 EH/s by mid-2025, with potential expansion to 60 EH/s.

📈 Bitcoin mining stocks surge as BTC rebounds to $95K, fueled by Trump’s crypto reserves plan.

Bitcoin mining stocks surge, led by Bitdeer (+13.65%), Hut 8 (+12.47%), and Bitfarms (+12.07%), while CleanSpark (+11.76%), Cipher Mining (+11.52%), Riot Platforms (+10.88%), and Bit Digital (+10.57%) also post strong gains.

💰 10 Public Bitcoin miners spent $4.95B on property, plant, and equipment in 2024, with over $3B going to mining hardware, while also liquidating $100M worth of older-generation miners, mostly in the last quarter.

🌟 If you are interested in hosting or purchasing ASICs please use this link to see how much more BTC you can mine and less USD to spend. Fill out this survey so we can beat the halving together or email [email protected].

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🏦 Bitcoin Products 🔍

🇺🇸 New Hampshire’s Bitcoin reserve bill passed committee 16-1, moving to a full House vote.

🇸🇻 IMF blocks El Salvador’s public BTC buys in $1.4B deal, but Bukele just bought more, raising holdings to 6,100 BTC.

🇰🇷 South Korea may soon authorize Bitcoin ETFs.

🇨🇳 China is reportedly building a strategic Bitcoin reserve amid its de-dollarization efforts.

🇯🇵 Metaplanet buys 497 BTC for $44M, pushing its stock up 19%.

🇦🇺 AUSTRAC to enforce stricter rules on crypto exchanges by 2026, warning of penalties for non-compliance.

🇧🇾 Belarus is considering mining Bitcoin using excess energy.

🇧🇹 Bhutan’s $1.1B Bitcoin reserves fund public salaries and services, offsetting declining tourism revenue.

🇧🇷 Brazilian fintech Méliuz is investing up to 10% of its cash reserves in Bitcoin, already securing $4.1M worth of BTC!

🇲🇽 Mexican billionaire Ricardo Salinas allocates 70% of his $5.8 billion portfolio to Bitcoin.

🇷🇺 Russia plans controlled crypto trading for wealthy investors under a structured legal framework.

🇷🇺 Russia could create a crypto reserve within 1-3 years, according Bitriver’s deputy CEO.

🇷🇺 Russia has no plans to add Bitcoin to its National Wealth Fund.

🇺🇸 The White House backs the CRA to repeal the Broker DeFi Rule, calling it an unfair crypto crackdown.

🇪🇺 Bitwise launched a Bitcoin & Gold ETP on Europe.

🇦🇪 Emirates NBD launches crypto trading through Liv X app.

🇺🇸 The Treasury Secretary confirms U.S. plans to buy more Bitcoin.

The Bitcoin Treasury Index for this week steady reflecting a stable grip on holdings, with 75 companies increasing their trove to precisely 2,984,011.31 BTC. Government also join the bitcoin standard with 7 countries holding 527,259.0 BTC. The value locked in these treasuries for Companies and Government tells a different story swelling to a robust $268.36B and $47.42B, respectively. A total of 14.210% all Bitcoins are held in corporate treasuries, while government holds 2.511 % of all Bitcoins, reinforcing the sentiment of a consolidating market among institutional & Government participants. Source: NewHedge, ONMINE.

💰 Trump’s World Liberty Financial now holds $23.61M in Wrapped Bitcoin.

🏛️ US lawmakers launch the Congressional Crypto Caucus to drive pro-blockchain policy.

💰 Mt. Gox moved 11,834 BTC ($1B) to an unknown wallet, sparking speculation about repayments as its holdings drop to 36,080 BTC ($3.26B).

🔥 Longtime Bitcoin critic Peter Schiff finally admits that Bitcoin is digital gold!

🏦 BlackRock’s Bitcoin ETF dropped 11% as trading volume hit a 3-month high, with investors pulling over $1B.

🟢 BlackRock ended its Bitcoin ETF outflow streak with a $38.9M inflow, keeping the market in the green!

⚖️ CFTC and SEC collaborate on crypto regulations, reviving joint efforts and seeking public input.

📢 Coinbase eyes US entry for tokenized securities amid regulatory shifts.

👨‍💼 Coinbase CEO Brian Armstrong says a US crypto reserve holding only Bitcoin is “probably the best option.”

🚨 US Treasury sanctions 49 BTC and XMR addresses tied to the Nemesis darknet marketplace and its Iranian operator.

⚖️ SEC drops lawsuit against Kraken, marking another win for crypto exchanges in the US.

⚖️ SEC to drop case against MetaMask, says Consensys founder.

💳 MetaMask to support Bitcoin, Solana, and launch physical crypto payment cards in 2025.

💰 Mexican billionaire Ricardo Salinas now holds 70% of his portfolio in Bitcoin, up from 10% in 2020.

📈 Michael Saylor predicts Bitcoin’s market cap will hit $200T.

🚀 Strategy leads U.S. convertible bond market in 2025 but has seen eight 30%+ drawdowns since adopting Bitcoin treasury.

💬 Tyler Winklevoss says only Bitcoin is hard money as Trump adds XRP, SOL, and ADA to the U.S. crypto reserve.

🎬 End Notes 🎤

🌎 This weeks question is: Do we Trump or Dump Bitcoin during the Govee Szn?

Bitcoin’s Global Adoption: Tracking Bitcoin’s Growing Presence Across Countries. Sources:Jan3

📈 U.S. spot Bitcoin ETFs ended an 8-day outflow streak with a $94.34M net inflow on Feb. 28 but still saw $3.65B in net outflows for February.

🕯️ Bitcoin just printed a rare weekly hammer candle, a pattern seen only 5 times in BTC history, with past occurrences marking key turning points during bull runs and market corrections.

Checkmate’s analysis reveals that Bitcoin has only formed a weekly hammer candle with a 90% lower wick five times—in the 2017 bull run, at the 2021 peak near $69K, twice in 2023 after the SVB crisis and summer dip, and once in 2024 during a summer slowdown.

🤠 Texas Senate approved Bitcoin for state reserves, calling it digital gold!

A map tracking the progress of Strategic Bitcoin Reserve (SBR) bills across all 50 U.S. states. Source: Bitcoin Laws

🚨 On March 6, President Trump signed an executive order to establish a “strategic bitcoin reserve” and a “U.S. Digital Asset Stockpile” to support the crypto industry without taxpayer burden.

US Government Portfolio Update as of March 7. Source: Arkham Intelligence

Bitcoin plunged approximately 6% after the announcement, falling from $90,400 to $84K. Source: CoinmarketCap

🤔 Opinions on the Bitcoin reserve are mixed, with Sacks confirming it includes seized BTC, removing $17B in selling pressure, while experts see potential for favorable tax policies and institutional adoption.

Michael Saylor, Strategy’s executive chairman, stated:

Jeff Park, head of alpha strategies at Bitwise Asset Management, criticized:

⭐ Trump’s first White House Crypto Summit on March 7 will bring together over 25 industry leaders and officials to discuss digital assets, regulations, and the future of crypto in the US.

🚀 With Trump’s signed Bitcoin reserve and the events of today’s Crypto Summit, will Bitcoin surge back to $100K?

🤑 Top Tea 🫖

Digihost Technology Changes Name to Digi Power X Inc. – GlobeNewswire
MARA’s Plans to Expand Internationally, Purchase Energy Assets w/ Adam Swick – The Mining Pod
What AI Means for ERCOT and the Texas Grid w/ Haley Thomson – The Mining Pod
Diving Even Deeper on Quantum Bitcoin w/ Hunter Beast – BlockSpace
Blackrock Warns of Bitcoin Supply Shock—Not Enough BTC for Every Millionaire – Bitcoin News
SEC declares memecoins are not securities in landmark staff statement – CryptoSlate
Trump floats US ‘Crypto Reserve’ Proposal, cites BTC, ETH, XRP, SOL, ADA – CryptoSlate
Is Wall Street Behind the Bitcoin Bloodbath? – The Defiant
Bitcoin Rises as Trump Tariffs Lift Rate Cut Hopes, Stoke Growth Concerns – Decrypt
Senate Votes to Repeal Biden-Era Crypto Tax Rule –WSJ
Money Printing — China’s Economic Defense Against Trump Tariffs May Drive Bitcoin Prices Higher – Bitcoin News
HIVE Digital Targets 4x Hash Rate Growth & $100M HPC Revenue – Will It Take Off in 2025?- Bitcoin News
AI Predicts Bitcoin’s Price Post The Crypto Summit: Will It Hit $100K Again? – Bitcoin News
Trump’s crypto czar David Sacks says US government missed out on $17 billion by selling Bitcoin too early – Crypto Briefing
How Will Bitcoin Price React to Trump’s March 7 Crypto Summit and Nonfarm Payrolls? – CoinGape
Bitcoin Price Up 8% Today, China Retaliates To Trump’s Tariffs Ahead of US NFP Release – CoinGape
How can Bukele still stack Bitcoin after IMF loan agreement? – Cointelegraph
Rep. Mike Collins now accepting crypto donations for campaign – Cointelegraph
New GOP bill aims to end debanking of crypto companies, ‘risky’ industries – Cointelegraph
Bitcoin struggles near $90K as US tariff fears spook ETF investors – Cointelegraph
Strategy’s Saylor Explains Why US Needs Bitcoin- UToday
Bitcoin ETFs record third straight day of net outflows led by Valkyrie’s BRRR – Crypto News
Crypto-critic Elizabeth Warren requests immediate public disclosures from David Sacks ahead of Trump’s summit – The Block
Coinbase exec says Trump’s Strategic Bitcoin Reserve could remove about $18 billion of sell-side pressure – The Block
SafeWallet released a post-mortem on last month’s Bybit hack – Safewallet
CNBC Daily Open: Trump paused tariffs for some imports — but Nasdaq enters correction territory – CNBC
Trump’s first White House Crypto Summit has VIPs pushing for favorable laws – CNBC
‘Watch Out’—Forget Trump, China Is Quietly Priming A $1.4 Trillion Bitcoin Price Boom – Forbes

💉 Dopamine Hit 🕺🏻

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The Download: how people fall for pig butchering schemes, and saving glaciers

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Inside a romance scam compound—and how people get tricked into being there Gavesh’s journey had started, seemingly innocently, with a job ad on Facebook promising work he desperately needed.Instead, he found himself trafficked into a business commonly known as “pig butchering”—a form of fraud in which scammers form romantic or other close relationships with targets online and extract money from them. The Chinese crime syndicates behind the scams have netted billions of dollars, and they have used violence and coercion to force their workers, many of them people trafficked like Gavesh, to carry out the frauds from large compounds, several of which operate openly in the quasi-lawless borderlands of Myanmar. We spoke to Gavesh and five other workers from inside the scam industry, as well as anti-trafficking experts and technology specialists. Their testimony reveals how global companies, including American social media and dating apps and international cryptocurrency and messaging platforms, have given the fraud business the means to become industrialized.
By the same token, it is Big Tech that may hold the key to breaking up the scam syndicates—if only these companies can be persuaded or compelled to act. Read the full story. —Peter Guest & Emily Fishbein
How to save a glacier There’s a lot we don’t understand about how glaciers move and how soon some of the most significant ones could collapse into the sea. That could be a problem, since melting glaciers could lead to multiple feet of sea-level rise this century, potentially displacing millions of people who live and work along the coasts. A new group is aiming not only to further our understanding of glaciers but also to look into options to save them if things move toward a worst-case scenario, as my colleague James Temple outlined in his latest story. One idea: refreezing glaciers in place. The whole thing can sound like science fiction. But once you consider how huge the stakes are, I think it gets easier to understand why some scientists say we should at least be exploring these radical interventions. Read the full story. —Casey Crownhart This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here.

MIT Technology Review Narrated: How tracking animal movement may save the planet Researchers have long dreamed of creating an Internet of Animals. And they’re getting closer to monitoring 100,000 creatures—and revealing hidden facets of our shared world. This is our latest story to be turned into a MIT Technology Review Narrated podcast, which we’re publishing each week on Spotify and Apple Podcasts. Just navigate to MIT Technology Review Narrated on either platform, and follow us to get all our new content as it’s released. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Donald Trump has announced 25% tariffs on imported cars and partsThe measures are likely to make new cars significantly more expensive for Americans. (NYT $)+ Moving car manufacturing operations to the US won’t be easy. (WP $)+ It’s not just big businesses that will suffer, either. (The Atlantic $)+ How Trump’s tariffs could drive up the cost of batteries, EVs, and more. (MIT Technology Review) 2 China is developing an AI system to increase its online censorship A leaked dataset demonstrates how LLMs could rapidly filter undesirable material. (TechCrunch)
3 Trump may reduce tariffs on China to encourage a TikTok dealThe Chinese-owned company has until April 5 to find a new US owner. (Insider $)+ The national security concerns surrounding it haven’t gone away, though. (NYT $) 4 OpenAI’s new image generator can ape Studio Ghibli’s distinctive styleWhich raises the question of whether the model was trained on Ghibli’s images. (TechCrunch)+ The tool’s popularity means its rollout to non-paying users has been delayed. (The Verge)+ The AI lab waging a guerrilla war over exploitative AI. (MIT Technology Review)
5 DOGE planned to dismantle USAID from the beginningNew court filings reveal the department’s ambitions to infiltrate the system. (Wired $)+ Can AI help DOGE slash government budgets? It’s complex. (MIT Technology Review) 6 Wildfires are getting worse in the southwest of the USWhile federal fire spending is concentrated mainly in the west, the risk is rising in South Carolina and Texas too. (WP $)+ North and South Carolina were recovering from Hurricane Helene when the fires struck. (The Guardian)+ How AI can help spot wildfires. (MIT Technology Review) 7 A quantum computer has generated—and verified—truly random numbersWhich is good news for cryptographers. (Bloomberg $)+ Cybersecurity analysts are increasingly worried about the so-called Q-Day. (Wired $)+ Amazon’s first quantum computing chip makes its debut. (MIT Technology Review) 8 What’s next for weight-loss drugs 💉Competition is heating up, but will patients be the ones to benefit? (New Scientist $)+ Drugs like Ozempic now make up 5% of prescriptions in the US. (MIT Technology Review) 9 At least we’ve still got memesPoking fun at the Trump administration’s decisions is a form of online resistance. (New Yorker $) 10 Can you truly be friends with a chatbot?People are starting to find out. (Vox)+ The AI relationship revolution is already here. (MIT Technology Review)
Quote of the day “I can’t imagine any professional I know committing this egregious a lapse in judgement.” —A government technology leader tells Fast Company why top Trump officials’ decision to use unclassified messaging app Signal to discuss war plans is so surprising.
The big story Why one developer won’t quit fighting to connect the US’s grids September 2024 Michael Skelly hasn’t learned to take no for an answer. For much of the last 15 years, the energy entrepreneur has worked to develop long-haul transmission lines to carry wind power across the Great Plains, Midwest, and Southwest. But so far, he has little to show for the effort. Skelly has long argued that building such lines and linking together the nation’s grids would accelerate the shift from coal- and natural-gas-fueled power plants to the renewables needed to cut the pollution driving climate change. But his previous business shut down in 2019, after halting two of its projects and selling off interests in three more. Skelly contends he was early, not wrong, and that the market and policymakers are increasingly coming around to his perspective. After all, the US Department of Energy just blessed his latest company’s proposed line with hundreds of millions in grants. Read the full story. —James Temple We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + Severance’s Adam Scott sure has interesting taste in music. + While we’re not 100% sure if Millie is definitely the world’s oldest cat, one thing we know for sure is that she lives a life of luxury.+ Hiking trails are covered in beautiful wildflowers right now; just make sure you tread carefully.+ This is a really charming look at how girls live in America right now.

Scaling Hashrate Simplified: The Mining Model That Delivered for BitMine

IntroductionBitMine Immersion Technologies (OTCQX: BMNR), a growing player in the Bitcoin mining industry, faced a very common industry opportunity & challenge: how to bring hashrate online in the best way possible. The complexities of sourcing energy, power infrastructure, site development, running operations, ASIC procurement, software optimization, and hashrate management require a holistic approach and entail many operational risks.An experienced capital allocator, BitMine was familiar with these risks owing to deep experience in similar markets prior to founding the company. However, they were open to support. Enter Soluna and Luxor, two industry leaders partnering to provide a complementary solution. Soluna provided power, infrastructure, and operational expertise. Luxor delivered financing, hedging, procurement, software optimization via LuxOS, and monetization of hashrate via Luxor Pool. Together, they formed a game-changing partnership that addressed BitMine’s needs, setting a new standard for turnkey mining solutions.This case study explores how the collaboration between BitMine, Soluna, and Luxor streamlined deployment, mitigated risk, and unlocked new growth opportunities.BitMine’s Opportunity: Bringing Hashrate Online With Low Operational RiskBitMine had a clear vision: to scale its mining operations efficiently while minimizing risk. However, they knew the pitfalls associated with deployments. This creates vulnerabilities, especially when deals are structured poorly, for example:Power Pricing Pitfalls: Many miners enter long-term hosting agreements with fluctuating rates, or worse, hidden pass-through costs that explode when energy prices spike. Some hosting providers lock clients into contracts that shift all the risk onto the miner.Overpaying for Equipment: Without direct industry relationships, miners may buy hardware at retail prices or from intermediaries with significant mark ups. This happened during the 2021 bull run when desperate new entrants paid $10,000–$15,000 per ASIC, only to watch prices crash to $3,000 during the next bear market.Inefficient Machine Deployment: Delays, customs, DOAs – there are a lot of things that can go wrong in the procurement phase. After the machines have arrived, firmware adjustments, cooling, and heat can affect downtime, all resulting in significantly less hashrate and associated declines in returns. If uptime and efficiency are poor, larger sites can underperform smaller, well-optimized sites.Cash Flow Mismatches: Mining revenue is volatile, fluctuating with network difficulty and Bitcoin price action. Some miners finance their operations with loans assuming steady returns, only to get caught in a bear market where mining rewards drop, electricity bills stay fixed, and debt payments become unmanageable.This is why partnerships with experienced service providers who understand the nuances of power markets, hardware procurement, optimization, and financial hedging are critical. Those who fail to manage these risks effectively often end up selling distressed assets at the bottom of the cycle, exiting the industry with heavy losses, while more sophisticated players continue to scale.The Solution: A Turnkey Approach with Soluna & LuxorRecognizing BitMine’s needs, Soluna and Luxor combined their strengths to offer a comprehensive and predictable end-to-end solution. Soluna: Reliable Infrastructure & Stable PowerBitMine expanded its relationship with Soluna from ~3 MWs at the Project Sophie data center to adding an additional ~10MW at the new Project Dorothy facility. With Soluna currently providing 13MW hosting capacity, this eliminated uncertainty related to fluctuating energy prices and power interruptions, ensuring BitMine had a dedicated, stable source of power.Luxor: Financial, Operational, and Strategic ExpertiseLuxor played a critical role in enabling BitMine’s expansion by leveraging all aspects of its business:Hashrate Forward Contract: Luxor structured a hedging strategy that secured BitMine’s profitability by locking in a fixed hashprice for a 12-month term.Capital & Equipment Financing: Luxor facilitated financing for ASIC machine procurement through a forward hashrate sale, ensuring BitMine could scale without facing capital constraints.Logistics Support: Luxor managed the entire shipping & logistics process to minimize downtime.Fleet Optimization & Management: Luxor firmware was deployed across BitMine’s fleet, unlocking dynamic mining strategies through LuxOS to maximize revenue and efficiency.Why This Model Stands OutThis partnership redefined the traditional mining setup by integrating infrastructure, software & financial services, and operations management into a turnkey solution. By reducing risk across deployment, price volatility, and operational uncertainty, BitMine was able to scale confidently and predictably while focusing on its core business activities.Results: Unlocking More Hashrate, More ASICs, and More EfficiencyThe collaboration between BitMine, Soluna, and Luxor delivered tangible results:Tripled BitMine’s deployed ASIC capacity, significantly boosting its hashrate.Secured long-term power stability, mitigating energy price fluctuations.Locked in hashprice terms, reducing financial exposure to market volatility.Streamlined deployment process, cutting down hardware lead times and ensuring rapid scaling.Enhanced operational efficiency, leveraging LuxOS firmware and running around 10% more efficiently than other miners, leading to improved profitability and lower downtime.This approach provided BitMine with greater financial stability, operational certainty, and a faster growth trajectory, proving the effectiveness of a fully integrated mining solution.Conclusion: The Future of Integrated Mining SolutionsThis partnership between BitMine, Soluna, and Luxor showcases the value of turnkey mining solutions. Each party benefited:BitMine: Gained a complete, risk-mitigated mining solution with price certainty, reliable power, and operational efficiency.Soluna: Secured a long-term customer for its power capacity, reinforcing its role as a leader in sustainable Bitcoin mining.Luxor: Demonstrated the power of its full-service model, proving that its comprehensive approach can drive long-term success for mining companies.As mining economics continue to evolve, integrated win-win-win solutions like this will become increasingly essential. Soluna and Luxor plan to replicate and scale this model, bringing more miners into a stable, profitable framework.For mining companies looking for a reliable, end-to-end solution, this case study validates the effectiveness of strategic partnerships in an industry where efficiency and risk management are critical.Can We Help You?Given the success of this collaboration, Soluna and Luxor are exploring ways to expand this model. If you’re a miner looking for a scalable, turnkey solution, get in touch to learn how this approach can work for you.About BitMine Immersion Technologies, Inc.BitMine is a technology company focused on Bitcoin mining using immersion technology, an advanced cooling technique where computers are submerged in specialized oil circulated to keep units operating at optimal ambient temperature. Immersion technology is more environmentally friendly than conventional mining methodologies while lowering operating expenses and increasing yield. BitMine’s operations are located in low-cost energy regions in Trinidad, Pecos, Texas, and Murray, Kentucky.About Soluna Holdings, Inc. (SLNH)Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com. Follow us on X (formerly Twitter) at @SolunaHoldings. About Luxor Technology CorporationLuxor Technology Corporation is a Bitcoin mining software and services company that offers a suite of products catered toward the mining and compute power industry. Luxor’s suite of software and services includes an open auction ASIC Marketplace, a Bitcoin mining pool, a Hashrate Derivatives Desk, an Antimer ASIC Firmware, and a Bitcoin mining data platform.If you are interested in contacting the Luxor Derivatives Desk, please email [email protected].DisclaimerThis content is for informational purposes only, you should not construe any such information or other material as legal, investment, financial, or other advice.