hodler

17 Apr 2026, 12:37

Ripple CTO Emeritus Retains XRP Offer Despite Critic’s Backlash

Ripple CTO Emeritus offers XRP as reward during an argument as the asset continues to gain momentum, showing a rapid price surge.

17 Apr 2026, 10:00

Bitcoin Pressure Builds As Miners Dump 32K BTC In Just 3 Months

About 20% of the Bitcoin mining industry is operating at a loss right now. That single fact explains much of what has been unfolding across the sector in early 2026, as publicly traded miners race to sell off holdings just to keep the lights on. Related Reading: Bitcoin Rally Faces First Test At $76K As Sellers Step In: Analysts Profits Squeezed To The Bone Hashprice — the daily revenue a miner earns per unit of computing power — has been sliding since July 2025. It now sits at roughly $33 per petahash per second per day, according to data from Hashrate Index. The breakeven point for many miners, particularly those running older machines, is around $35. That gap, small as it looks on paper, is pushing a large chunk of the industry into the red. Major publicly traded miners — among them MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer — collectively offloaded more than 32,000 BTC during the first three months of 2026, according to TheEnergyMag. That figure eclipses everything those same companies sold across all four quarters of 2025. It also surpasses the previous quarterly record of roughly 20,000 BTC, set during Q2 2022 when the collapse of the Terra-Luna ecosystem sent markets into a tailspin. Three compounding forces drove miners to that record: a rising network hashrate that has made competition fiercer, reduced block rewards following the most recent halving, and broader economic headwinds that have kept Bitcoin prices under pressure. Miner Reserves Have Been Draining For Years The selling in Q1 2026 did not come out of nowhere. Data from CryptoQuant shows that total Bitcoin held by miners across the board has been falling since 2023. At the close of that year, miners collectively held more than 1.86 million BTC. That number has since dropped to approximately 1.8 million. The trend is slow but steady — and the first quarter’s record sales may have accelerated it further. Asset manager CoinShares, in its Q1 2026 Bitcoin Mining Report, warned that more pain could be coming. Higher-cost operators should expect continued capitulation in the first half of this year, the firm said, unless Bitcoin’s price stages a meaningful recovery. Think ₿igger. pic.twitter.com/L1yH3n0k7t — Michael Saylor (@saylor) April 12, 2026 Related Reading: ‘Extremely Good News’ – XRP DeFi Momentum Builds As SEC Softens Position On Interfaces Treasury Buyers Step In As Miners Step Back While miners sell, corporate buyers are moving in the opposite direction. Strategy, the largest Bitcoin treasury company by holdings, has continued adding to its position. Co-founder Michael Saylor signaled earlier this week that another purchase was in the works, sharing the company’s BTC acquisition history chart — a move his followers have come to read as a near-certain signal of an imminent buy. Featured image from MetaAI, chart from TradingView

17 Apr 2026, 09:55

EagleRock IPO Filing Reveals Strategic Pivot: Energy Firm Boldly Integrates Crypto Mining Business

BitcoinWorld EagleRock IPO Filing Reveals Strategic Pivot: Energy Firm Boldly Integrates Crypto Mining Business HOUSTON, March 2025 — EagleRock Land, a prominent Houston-based energy land management company, has officially filed for an initial public offering with the U.S. Securities and Exchange Commission. The company plans to list on the New York Stock Exchange under the ticker “EROK,” according to Bloomberg reports. This strategic move notably includes diversifying revenue through cryptocurrency mining operations on its extensive Permian Basin holdings. EagleRock IPO Details and Strategic Vision The SEC filing reveals EagleRock Land controls approximately 236,000 acres in the Permian Basin. Consequently, the company represents a significant player in American energy land management. The IPO filing specifically outlines plans to leverage this substantial asset base for cryptocurrency mining ventures. Furthermore, this diversification strategy aims to create multiple revenue streams from the same land portfolio. Bloomberg’s initial report indicates the company seeks to capitalize on both traditional energy and emerging digital asset sectors. The filing demonstrates how energy companies increasingly explore adjacent technological opportunities. Additionally, EagleRock’s approach reflects broader industry trends toward asset optimization. Energy Sector Meets Cryptocurrency Mining The intersection of energy infrastructure and cryptocurrency mining represents a growing trend. Specifically, companies with access to land, power infrastructure, and cooling capabilities possess natural advantages. EagleRock’s Permian Basin locations offer several benefits for mining operations: Power Access: Proximity to existing energy infrastructure reduces connection costs Land Availability: Extensive acreage allows for scalable mining facility deployment Regulatory Familiarity: Existing relationships with local authorities streamline permitting Cooling Advantages: Certain geographic and climate factors can reduce cooling expenses This convergence follows similar moves by other energy companies in recent years. For instance, several oil and gas firms have experimented with using excess natural gas for mining operations. However, EagleRock’s approach focuses specifically on land leasing for dedicated mining facilities. Market Context and Industry Analysis The cryptocurrency mining industry has undergone significant transformation since 2022. Initially, environmental concerns prompted regulatory scrutiny and industry consolidation. Subsequently, mining operations increasingly sought sustainable power sources and strategic locations. Meanwhile, energy companies faced their own challenges with volatile commodity prices. Financial analysts note this convergence creates potential synergies. Energy firms can monetize underutilized assets while mining companies secure stable operating environments. The table below illustrates key advantages of this partnership model: Energy Company Advantages Mining Operation Advantages Diversified revenue streams Reduced infrastructure costs Higher asset utilization rates Predictable operating environments Technology sector exposure Access to established regulatory frameworks Potential valuation premium Scalable physical footprint Regulatory Landscape and SEC Considerations The SEC filing process requires comprehensive disclosure of business risks and opportunities. EagleRock’s registration statement must address several cryptocurrency-specific considerations. Regulatory clarity around digital assets remains an evolving area. Therefore, the company likely detailed its risk management approach. Recent SEC guidance emphasizes transparent disclosure of cryptocurrency-related activities. Public companies must explain how these operations affect financial performance. Additionally, they must detail relevant regulatory compliance measures. The filing presumably addresses these requirements thoroughly. Market observers will scrutinize how EagleRock positions its mining business within traditional energy operations. The company’s prospectus should clarify operational structures and revenue projections. Moreover, it must explain how mining activities align with core business competencies. Financial Implications and Investor Perspectives Investment analysts typically evaluate diversification strategies through multiple lenses. First, they assess strategic alignment with core capabilities. Second, they examine market timing and competitive positioning. Third, they evaluate execution risks and capital requirements. EagleRock’s move enters public markets during a period of renewed interest in infrastructure plays. Energy transition investments attract substantial capital currently. Simultaneously, institutional cryptocurrency exposure continues growing gradually. Consequently, the company potentially appeals to both traditional and thematic investors. The NYSE listing provides several advantages over private ownership. Public markets offer liquidity for existing shareholders. They also facilitate future capital raising for expansion. Furthermore, they increase corporate visibility and credibility. Operational Execution and Implementation Timeline Successful implementation requires careful planning across several dimensions. EagleRock must establish mining facility specifications and technology partnerships. Additionally, the company needs to develop operational protocols and staffing plans. Power procurement and infrastructure development represent critical path items. The Permian Basin’s established energy ecosystem offers implementation advantages. Local contractors understand industrial project requirements. Utility providers can accommodate substantial power demands. Moreover, transportation infrastructure supports equipment delivery and maintenance. Industry experts suggest phased implementation minimizes operational risks. Starting with pilot projects allows for process refinement. Subsequently, scaling operations based on demonstrated performance proves more sustainable. This approach also manages capital deployment more effectively. Conclusion EagleRock Land’s IPO filing represents a significant development in energy sector diversification. The company’s integration of cryptocurrency mining operations demonstrates innovative asset utilization. This strategic pivot reflects broader industry trends toward technological convergence. Market participants will closely monitor the offering’s reception and subsequent execution. Ultimately, EagleRock’s success could influence how traditional energy companies approach digital asset opportunities. FAQs Q1: What is EagleRock Land’s primary business? EagleRock Land is a Houston-based energy land management company that owns and manages approximately 236,000 acres in the Permian Basin, traditionally focused on oil and gas operations. Q2: How does cryptocurrency mining fit into EagleRock’s business model? The company plans to diversify revenue by leasing portions of its land portfolio for cryptocurrency mining operations, creating additional income streams from existing assets. Q3: Where will EagleRock stock trade after the IPO? The company plans to list on the New York Stock Exchange under the ticker symbol “EROK” following SEC approval of its registration statement. Q4: What advantages does the Permian Basin offer for crypto mining? The region provides established energy infrastructure, available land, favorable regulatory environments, and potential cooling advantages that can reduce operational costs for mining facilities. Q5: How does this IPO reflect broader industry trends? EagleRock’s move represents the growing convergence between traditional energy infrastructure and digital asset operations, as companies seek to optimize asset utilization across multiple technological domains. This post EagleRock IPO Filing Reveals Strategic Pivot: Energy Firm Boldly Integrates Crypto Mining Business first appeared on BitcoinWorld .

17 Apr 2026, 09:09

CleanSpark becomes most shorted Bitcoin reserve firm

CleanSpark (Nasdaq: CLSK) revealed the sentiment for the AI narrative, as well as investor attitudes to mining and BTC treasuries. CLSK has the biggest share of open interest among BTC mining stocks. CleakSpark (Nasdaq: CLSK) reveals short open interest at 34.89% of the free float, with 4.71 days to cover. This is the biggest share of stocks to be shorted among all BTC treasury companies. Currently, Strategy (MSTR) has the biggest dollar value of shorted shares, but CleanSpark gauges the sentiment for multiple narratives. CLSK traded at $11.42, up from $8.18 at the end of March. Currently, CLSK is in the middle of its long-term range, but still below the peak hype of 2024, when treasury companies were still a novelty. The significant short open interest suggests CLSK is expected to slide lower. In the short term, the short positions may still spark a short squeeze and a rally. CleanSpark is still a successful miner CleanSpark made a relatively late pivot to AI , announcing its plans in late 2025. Currently, CleanSpark still has a leading position as a pure-play BTC miner for the US market. The company offers shared mining, with up to 50 EH/s in mining power, lining up with MARA Holdings and other top block producers with their own large facilities. CleanSpark is also profitable, based on its mining activities. In 2025, the company achieved $766.3M in revenues and $364.5M in annual income, retaining $1B in working capital by the year’s end. The mining operator also retains 13,363 BTC from self-mining and legacy operations. Why is CLSK shorted? Some of the reasons for shorting CLSK are the stock’s usual fluctuations and drops to local lows. Miners are still heavily dependent on BTC sentiment and have gone through periods of mining at a loss. The other reason is that the AI pivot may be late, as the general hype for data centers and GPU fleets is slowing down. The company has also issued more common stock since 2020, from 22 million to 280 million. Buybacks for 40 million CLSK are not sufficient, and the stock is viewed with some skepticism. Additionally, CLSK has not reflected the rise of BTC . CleanSpark was also not a true playbook company, thus only having a very brief period of hype as a treasury holder. Despite the nominal price gains, CLSK is seen as potentially underperforming, leading to shorting attempts. The stock is also competing for attention with other companies pivoting to AI, including Iren Ltd. (Nasdaq: IREN), Mara Holdings (Nasdaq: MARA), and even short-term rallies like Allbirds (Nasdaq: BIRD). For others, CleanSpark is a hidden gem, with well-established mining that may be profitable even at a lower BTC price. However, the company may face mining asset depreciation and decommissioning in the coming years. Currently, CleanSpark is only exploring AI data centers, with no established contracts. If you're reading this, you’re already ahead. Stay there with our newsletter .

17 Apr 2026, 08:55

Bitcoin Mining’s Critical AI Pivot Sparks Intense Debate on Hash Rate Versus Profitability

BitcoinWorld Bitcoin Mining’s Critical AI Pivot Sparks Intense Debate on Hash Rate Versus Profitability The cryptocurrency industry faces a pivotal moment as Bitcoin mining companies increasingly pivot toward artificial intelligence infrastructure, sparking intense debate about network security implications versus profitability concerns in early 2025. Bitcoin Mining’s AI Infrastructure Shift Raises Security Questions Major Bitcoin mining operations now actively diversify revenue streams beyond cryptocurrency validation. This strategic shift toward AI infrastructure business models presents complex challenges for blockchain security fundamentals. Industry analysts monitor these developments closely because network integrity depends heavily on consistent mining participation. The transition reflects broader technological convergence trends affecting multiple sectors simultaneously. Charles Edwards, founder of Capriole Investments, recently highlighted significant concerns via social media platform X. He projected dramatic revenue composition changes for leading mining firms. Currently, mining generates approximately 90% of total revenue for these companies. However, Edwards anticipates this percentage will plummet to around 30% within the next two to three years. This projection suggests fundamental business model transformations across the mining sector. Hash Rate Decline and Quantum Computing Concerns Edwards expressed particular concern about Bitcoin’s hash rate trajectory. The hash rate represents the total computational power securing the Bitcoin network. This metric serves as the foundational security layer preventing double-spending attacks. Network participants observe concerning hash rate declines coinciding with mining equipment investment reductions. Many miners reportedly halted new mining hardware deployments throughout 2024. This development becomes especially significant considering emerging quantum computing threats. Quantum computers theoretically could break current cryptographic standards protecting blockchain networks. While practical quantum attacks remain years away, security experts emphasize the importance of maintaining robust hash rates today. A strong security foundation provides crucial time for developing quantum-resistant cryptographic solutions. Economic Equilibrium Arguments Counter Security Concerns Blockstream CEO Adam Back presented contrasting economic perspectives regarding the mining transition. He argued that market forces naturally correct hash rate imbalances through profitability adjustments. When hash rates decrease, mining difficulty automatically adjusts downward through Bitcoin’s protocol design. This adjustment increases profitability for remaining mining operations. Back suggested this economic mechanism creates natural equilibrium between mining and AI conversion profits. The veteran cryptographer further explained potential positive feedback loops. Higher mining profitability typically reduces selling pressure from miners. Miners often sell Bitcoin to cover operational expenses like electricity and hardware costs. Reduced selling pressure can create upward price momentum for Bitcoin. This dynamic potentially initiates virtuous cycles benefiting both network security and cryptocurrency valuation. Historical Context and Industry Evolution The current debate continues longstanding discussions about Bitcoin mining centralization risks. Mining operations historically concentrated in regions with cheap electricity and favorable regulations. China’s 2021 mining ban demonstrated how geographic concentration creates systemic vulnerabilities. The subsequent mining migration to North America and Central Asia diversified geographic distribution temporarily. Now, economic diversification introduces new centralization dimensions. Large publicly-traded mining companies possess capital advantages for AI infrastructure investments. Smaller mining operations lack comparable financial resources for similar transitions. This disparity potentially accelerates industry consolidation around diversified technology conglomerates. The table below illustrates key differences between traditional mining and AI infrastructure business models: Business Aspect Bitcoin Mining AI Infrastructure Revenue Model Block rewards + transaction fees Compute leasing + service contracts Capital Intensity High initial investment Extremely high investment Operational Focus Energy efficiency optimization Compute performance optimization Market Volatility Direct Bitcoin price exposure AI demand cyclicality Regulatory Environment Evolving cryptocurrency rules Established data center regulations Technical Infrastructure Overlap and Divergence Bitcoin mining and AI infrastructure share significant technical commonalities. Both require: High-performance computing hardware optimized for specific workloads Advanced cooling systems managing substantial heat generation Reliable power infrastructure supporting continuous operations Network connectivity ensuring data transmission reliability However, critical technical divergences create conversion challenges. Bitcoin mining utilizes application-specific integrated circuits (ASICs) designed exclusively for cryptographic hashing. AI infrastructure typically employs graphics processing units (GPUs) or tensor processing units (TPUs) optimized for parallel computation. Facility retrofitting requires substantial capital investment beyond simple hardware swaps. Energy Market Implications The mining transition significantly impacts global energy markets. Bitcoin mining operations historically located near renewable energy sources or stranded power assets. These strategic locations provided competitive electricity pricing advantages. AI infrastructure demands differ substantially regarding power quality and reliability requirements. Many AI workloads cannot tolerate intermittent power availability common with some renewable sources. This technical requirement potentially redirects investment toward traditional grid-connected locations. The energy market shift could affect renewable energy project economics previously supported by mining demand. Energy analysts closely monitor these developing patterns throughout 2025. Network Security Metrics and Monitoring Blockchain analysts employ multiple metrics for assessing network security implications: Hash rate distribution across mining pools and geographic regions Mining difficulty adjustment frequency and magnitude Block propagation times and orphan rate statistics Mining pool concentration using Herfindahl-Hirschman Index calculations These metrics provide early warning signals about potential security vulnerabilities. The Bitcoin network has demonstrated remarkable resilience throughout its history. Previous hash rate fluctuations followed predictable recovery patterns. However, the current transition represents unprecedented scale regarding mining business model diversification. Regulatory Considerations and Compliance Regulatory frameworks evolve differently for cryptocurrency mining versus AI infrastructure operations. Mining operations face increasing scrutiny regarding energy consumption reporting and environmental impact assessments. Several jurisdictions implemented specific cryptocurrency mining regulations throughout 2024. These regulations often focus on energy sourcing transparency and grid stability contributions. AI infrastructure operations encounter different regulatory considerations. Data privacy regulations like GDPR and emerging AI governance frameworks apply to these operations. Compliance requirements differ substantially between the two business models. Mining companies transitioning toward AI infrastructure must navigate complex regulatory landscapes simultaneously. Investment Community Perspectives Public market investors express divided opinions about the mining transition. Some analysts praise diversification strategies reducing Bitcoin price correlation risks. Other investors question strategic focus dilution away from core competencies. Mining company stock performance reflects these conflicting perspectives throughout early 2025. Institutional investors increasingly consider environmental, social, and governance factors. AI infrastructure potentially offers improved ESG profiles compared to cryptocurrency mining. This consideration influences capital allocation decisions among pension funds and endowment managers. The investment landscape continues evolving as transition strategies demonstrate concrete financial results. Technological Innovation Responses Bitcoin protocol developers monitor mining transitions for potential protocol adjustments. The network’s security model assumes sufficient economic incentives for honest validation participation. Significant mining participation reductions might necessitate protocol parameter reconsideration. However, Bitcoin’s conservative development philosophy favors minimal changes to core protocol mechanics. Alternative approaches include layer-two scaling solutions reducing mainchain validation requirements. The Lightning Network and other second-layer technologies continue expanding throughout 2025. These innovations potentially mitigate security concerns by distributing transaction validation across multiple layers. The broader ecosystem development provides additional security redundancy beyond mining incentives alone. Conclusion The Bitcoin mining industry’s pivot toward AI infrastructure represents a complex technological and economic transition with significant network security implications. Expert opinions diverge regarding hash rate sustainability versus natural market equilibrium mechanisms. The evolving situation requires careful monitoring of multiple metrics including hash rate distribution, mining profitability, and network difficulty adjustments. Historical resilience suggests Bitcoin’s security model possesses inherent adaptability, but unprecedented business model diversification introduces new variables. The coming years will determine whether market forces successfully balance mining profitability with network security requirements as the cryptocurrency and artificial intelligence sectors increasingly converge. FAQs Q1: What percentage of revenue might Bitcoin mining companies derive from mining in the future? Capriole Investments founder Charles Edwards projects mining revenue could drop from approximately 90% to around 30% within two to three years as companies diversify into AI infrastructure. Q2: How does reduced hash rate potentially increase mining profitability? Bitcoin’s protocol automatically adjusts mining difficulty based on network hash rate. When hash rate decreases, difficulty adjusts downward, making remaining mining operations more profitable as they solve blocks with less competition. Q3: What is the connection between quantum computing and Bitcoin mining? Quantum computers theoretically could break current cryptographic standards, making robust hash rates important for maintaining network security while quantum-resistant solutions develop. Q4: How might higher mining profitability affect Bitcoin’s price? Increased profitability reduces selling pressure from miners covering operational costs, potentially creating upward price momentum through reduced market supply. Q5: What technical challenges exist when converting mining facilities to AI infrastructure? Bitcoin mining uses specialized ASIC hardware while AI typically requires GPUs or TPUs, necessitating substantial retrofitting investments beyond simple hardware replacement. Q6: How do regulatory considerations differ between mining and AI operations? Mining faces energy consumption regulations while AI infrastructure encounters data privacy and AI governance frameworks, creating complex compliance landscapes for transitioning companies. This post Bitcoin Mining’s Critical AI Pivot Sparks Intense Debate on Hash Rate Versus Profitability first appeared on BitcoinWorld .

17 Apr 2026, 08:30

Public Miners Sell Record Bitcoin as Industry Splits Between Selling and Quality Growth

Public bitcoin miners have liquidated their BTC reserves at a pace not seen since the depths of the last crypto bear market, as a prolonged slump in mining economics pushes operators into survival mode. This article first appeared in Miner Weekly, a weekly newsletter by BlocksBridge Consulting curating the latest news in energy, compute, infrastructure,