🏦 Miners Break Free

**Major crypto investor Mike Novogratz is deploying $20 billion into AI infrastructure**, according to Forbes, marking a significant diversification away from pure cryptocurrency ventures. **Impact on Bitcoin Mining:** - This substantial capital allocation to AI could reduce new investment flowing into Bitcoin mining operations - Hashprice may stabilize or experience reduced upward momentum as competition for mining capital intensifies - Follows CoreWeave's successful $1.6B AI pivot, which demonstrated strong returns for former Bitcoin miners **Market Context:** - The trend reflects broader industry movement toward high-yield AI ventures - Less competition for Bitcoin hashrate could create a neutral to slightly positive hashprice environment - Miners face increasing pressure to adapt strategies amid shifting capital flows This development underscores the growing competition between AI and cryptocurrency mining for both capital and energy resources, potentially reshaping the mining landscape in 2026.

**Texas grid undergoes major transformation as AI demand surges** ERCOT is implementing significant changes to accommodate projected power demand doubling by 2031. The overhaul introduces new requirements for large power consumers: - Mandatory cost shifts for loads 75MW and above - Required remote disconnect capabilities - Potential curtailment during peak demand periods **Impact on Bitcoin mining operations** Texas-based Bitcoin miners face increased operational challenges: - Higher electricity costs due to new grid requirements - Risk of mandatory power curtailment - Downward pressure on hashprice for fixed-location operations **Energy competition intensifies** The AI industry's growing power needs create direct competition with Bitcoin mining for grid capacity. Miners with fixed locations in Texas should monitor hashprice trends closely and consider flexible power arrangements to maintain profitability in this evolving landscape.

**Current Mining Economics** Bitcoin mining profitability has declined slightly, with miners now earning approximately $0.039 per day per terahash (TH/s) at Bitcoin's current price of $88,105. **Key Metrics:** - Hourly rate: ~$0.0016 per TH/s - Daily rate: ~$0.039 per TH/s - Down from last week's $0.0391 per day **Post-Halving Impact** The modest decrease reflects ongoing market adjustments following Bitcoin's halving event, which reduced block rewards and compressed mining margins. **Risk Management Options** Miners can stabilize revenue through decentralized hashpower futures contracts at [Lumerin's marketplace](https://marketplace.lumerin.io/futures), allowing them to lock in rates and hedge against volatility.

Traditional finance is moving deeper into blockchain infrastructure. BitGo completed its IPO at a $2.1B valuation, while the NYSE launched tokenized settlement systems. **Key Developments:** - Bitcoin attracted $2.17B in fresh capital inflows - Ledger preparing for $4B IPO - SuperState raised $82.5M Series B for tokenized securities - Kansas introduced Bitcoin Strategic Reserve legislation BitGo's stock debut saw initial volatility before settling near its $18 IPO price. Meanwhile, PWC reported that institutional crypto adoption has reached a point of no return. The influx of capital and infrastructure development suggests growing institutional confidence in digital assets, potentially supporting higher mining profitability through increased network activity.

OpenAI has joined Microsoft in committing that their data centers won't transfer energy costs to local residents, reflecting mounting pressure on major energy consumers. **Impact on Bitcoin Mining:** - Heightened competition for sustainable power sources - Increased scrutiny on local grid impact - **Hashprice outlook:** Neutral short-term, but long-term trend suggests rising operational costs for miners This development adds to existing pressures on Bitcoin mining operations, as AI and data centers compete for grid resources.