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13 Feb 2026, 08:55

HIVE unit BUZZ lands $30M in AI cloud contracts

HIVE Digital Technologies Ltd. said its high-performance computing arm, BUZZ, has signed customer agreements worth about $30 million to boost its AI cloud ambitions. According to a press statement shared with Cryptopolitan on Friday, the Canadian company announced that BUZZ, its Tier-III data center platform, secured two-year fixed-term contracts subject to performance obligations. The contracts are expected to expedite the expansion of HIVE’s Tier-III operations, which support advanced high-performance computing workloads. Buzz signs infrastructure deal to deploy AI-GPUs Per HIVE’s statement , the new deals anchor the first phase of BUZZ’s AI-optimized GPU deployment at its Canada West facility in Manitoba. Compute capacity from this phase is scheduled to come online during the quarter ending March 31, 2026. The initial build-out consists of 504 liquid-cooled GPUs built on Dell servers, all meant for high-performance AI and HPC workloads. Executives stated that, based on executed contracts, current pricing, and deployment schedules, this first phase should generate about $15 million in annual recurring revenue upon full operationalization. HIVE expects total annualized revenue from its HPC segment to increase from about $20 million to $35 million upon full deployment, subject to capital expenditures, operating costs, and customer utilization. The technology company also expects to incur capital expenditures for electrical systems, cooling infrastructure, and working capital needs. Other operating expenses will include power, hosting, maintenance, staffing, and network costs, the firm’s higher-ups said. According to HIVE’s President Aydin Kilic, the company could scale its HPC GPU AI cloud business toward approximately $140 million in annual recurring revenue over the next year. In a prior earnings webcast, the tech firm revealed it aimed to deploy 2,000 AI-optimized GPUs at its Canada West facility this year. “This is just the beginning. Demand for long-term access to high-performance, power-efficient AI compute continues to expand globally, and we are excited to further scale our GPU cloud business throughout 2026,” Kilic told reporters earlier today. Craig Tavares, President and Chief Operating Officer of BUZZ HPC, said Canada needs more sovereign AI compute capacity and domestic infrastructure to serve local workloads and global AI companies from a secure base. BUZZ to execute Tier-III strategy with capital discipline Executive Chairman of HIVE, Frank Holmes, believes the company is doing well in 2026, supported by the strong momentum in its HPC and GPU cloud business. “HIVE has built a track record as one of the longest-standing publicly traded crypto Tier-I data center operators, performing through market cycles while protecting cash flow and balance sheet strength. Now, with BUZZ, we are leveraging that foundation to build a high-growth AI cloud platform spanning Canada, Sweden, and Paraguay,” the executive boasted. Speaking on capital requirements of data centres, Holmes propounded that Tier-I systems for hashrate services need about $1 million per megawatt of infrastructure. In comparison with more advanced systems, he explained that Tier-III facilities have materially higher capital demands because they include premium GPU hardware, power architecture, and advanced cooling systems. Constructing and equipping a comparable fully self-funded Tier-III facility with similar GPU capacity could require around $70 million in capital expenditures. HIVE has already purchased properties and buildings for its Tier-I facilities, but the chief executive said the firm is still assessing selective Tier-III conversions and colocation strategies for HPC. Bitcoin mining to continue with AI on the horizon On February 5, HIVE released operational results for January 2026, which showed a 290% year-over-year increase in hashrate. The average hashrate reached 22.2 exahash per second and peaked at 23.7 EH/s. HIVE produced 297 Bitcoin in January, a 191% increase from the total recorded 12 months earlier. The company’s average daily production reached 9.6 bitcoin per day in January, while maintaining more than 2% of the global Bitcoin network hashrate throughout the month. Moreover, the fleet efficiency averaged 17.5 joules per terahash, while mining rigs produced approximately 13.4 Bitcoin per exahash. HIVE will release financial results for the nine months ended December 31, 2025, on February 17, during an earnings call scheduled for 8:00 AM Eastern Time. Get 8% CASHBACK when you spend crypto with COCA Visa card. Order your FREE card.

13 Feb 2026, 08:30

Cango Closes $10.5 Million Investment, Secures $65 Million in New Equity Commitments

Bitcoin mining company Cango Inc. said Feb. 12 it closed a previously announced $10.5 million equity investment from Enduring Wealth Capital Ltd. and entered definitive agreements for an additional $65 million of Class A equity investments from entities wholly owned by Chairman Xin Jin and director Chang‑Wei Chiu, with purchases priced at $1.32 per Class

13 Feb 2026, 08:10

Bitcoin Price Today: JPMorgan Warns $77K Mining Floor as BTC Crashes to $66K

Bitcoin trades at approximately $66,467 as of February 13, 2026, down 1.77% in the last 24 hours and marking a steep retreat from its all-time high of $126,080. The crypto market faces headwinds from broader risk-off sentiment, with BTC market cap at $1.33 trillion. Investor caution is heightened amid uncertainty over US macro data and global equities, creating additional downward pressure on digital assets. Current Price Action and Key Levels BTC hovered between $65,757 and $67,661 over the past day, reflecting ongoing volatility. Analysts eye $60,000-$72,000 as a defensive range, with $55,000 realized price as deeper support amid macro pressures. Short-term holders realized losses on 28,000 BTC moved to exchanges, signaling capitulation. Momentum indicators suggest BTC could linger in sideways trading before testing lower support zones. Liquidations Add to the Pressure Recent market swings triggered significant liquidations, exacerbating downside moves. While not at historic peaks like the $19B tariff-shock event, recent waves exceed $2.5B in BTC positions alone, mostly longs unwound in thin liquidity. Weekend thinness amplified drops, with BTC falling over 6% to $78,396 before rebounding slightly. Upcoming US CPI data and options expiry could spark further cascades, adding to trader uncertainty. JPMorgan's Take: $77K Mining Cost as Key Support JPMorgan slashed its Bitcoin production cost estimate to $77,000, down from $90,000 since January, positioning it as a potential price floor. This metric has historically supported BTC during downturns, acting as miner breakeven. Network difficulty plunged 15% YTD, the sharpest since China's 2021 mining ban due to hash rate drops from unprofitable operations shutting down. Difficulty auto-adjusts biweekly to keep 10-minute blocks, easing pressure on survivors who capture more rewards. JPMorgan expects costs to rebound as hash rate recovers, with efficient miners gaining share in a ”natural selection” process. Prolonged trading below $77K risks further capitulation, lowering aggregate costs via self-correction but temporarily weakening network security. Surviving operators benefit from higher block win probabilities, bolstering resilience. Analyst sentiment suggests careful monitoring of miner exits and large whale activity to anticipate market swings. Institutional Bull Case Despite current pain with BTC at $67K below breakeven, PMorgan stays bullish on crypto for 2026, forecasting inflows led by institutions over retail. Regulatory wins like the CLARITY Act could unlock capital by clarifying rules. The bank anticipates tokenized assets and blockchain growth driving a $67B market by 2031. Miner dynamics create equilibrium: inefficient exits pave way for stronger networks. Traders should monitor hash rate recovery and Fed signals, as $77K offers structural support amid deleveraging, while institutional adoption remains the key catalyst for sustained upside.

13 Feb 2026, 04:39

Bitcoin mining outflows surged to 49K, valued at approximately $3 billion

Bitcoin miner outflows skyrocketed to 48k BTC worth more than $3 billion between February 5 and 6. However, the massive outflows do not represent miner capitulation according to January disclosures from major corporate BTC mining firms. Bitcoin miners moved 48,774 Bitcoin worth $3.2 billion from their wallets between February 5 and 6, according to onchain data. However, the transactions do not automatically reflect miner capitulation or immediate spot market selling. The data accounts for transfers to exchanges, internal wallet movements, and transfers to other entities. Therefore, the miner outflows do not imply that Bitcoin miners were offloading their assets in the open market as the crypto winter continues to unfold. Bitcoin miner-linked wallets move 48K BTC, valued at $3.2 billion, in 2 days Source: CryptoQuant Bitcoin Miner Outflow (Total) All Miners On February 5, Bitcoin miner outflows spiked to 28,605 BTC valued at $1.8 billion. The value represents one of the most significant single-day transactions involving miner wallet addresses since November 2024. Miner-linked wallets also recorded another 20,169 BTC in outflows worth $1.4 billion on February 6, with a previous similar spike occurring on November 12, 2024, as per onchain data. The spike on February 5 and 6 coincided with Bitcoin’s recent price decline that saw the asset touch $62.2k before recovering to $66.4k. Whale transactions amid market volatility draw significant attention and could signal potential selling pressure. Despite onchain data showing miner-linked addresses moved massive amounts of Bitcoin over the two days, company documents from publicly listed mining firms do not show heavy selling pressure from miners. Eight miners, including CleanSpark, Bitdeer, Hive Digital Technologies, BitFuFu, Canaan, LM Funding America, Cango, and DMG Blockchain Solutions, have reported a combined production of 2,377 BTC in their financial statements for the month. However, the figure is far below what was recorded on February 5 and 6. The mining firms did not sell a substantial amount of Bitcoin in the same period. The total number of BTC sold by CleanSpark, Cango, and DMG matched only a fraction of the miner outflows registered on either February 5 or 6. CleanSpark reported mining 573 BTC and selling 158.63 BTC during January, while Cango mined 496.35 BTC and disclosed selling 550.03 BTC. LM Funding mined 7.8 BTC and reported that it did not sell any Bitcoin. Other firms like BitDeer, BitFuFu, and Canaan did not disclose the BTC sold, but, based on projections, it would be difficult to match the outflows recorded on February 5 and 6 with the firms’ records. Bitcoin miners face pressure as BTC price slides below production cost The news comes at a difficult time for miners. According to data from Checkonchain, Bitcoin’s floor price fell below the difficulty regression model, which represents the average production cost of Bitcoin on January 26, and has remained below it since then. The data shows that the cost of producing 1 BTC is $79.242k, while BTC is trading at $66.485k at the time of this publication. The Royal Government of Bhutan extended its BTC selloff spree by transferring 100 BTC to QCP Capital’s WBTC merchant deposit address (bc1qt) on Thursday, according to blockchain analytics firm Arkham. Cryptopolitan reported that the motive of the transaction remains unknown; it suggests that the government is potentially engaging in liquidity management or preparing for sales into liquid markets. The Royal Government of Bhutan actively undertakes state-sponsored BTC mining activities and could be unwinding as a result of increased selling pressure. According to data from CoinMarketCap, Bitcoin has been in a steep decline since clocking its highest price of the year at $97,860 on January 14. The crypto asset has shed more than 30% since then amid continued intense selling pressure. The smartest crypto minds already read our newsletter. Want in? Join them .

13 Feb 2026, 01:40

Bitcoin Production Cost Drops to $77K: JPMorgan’s Surprising Bullish Signal for Crypto Markets

BitcoinWorld Bitcoin Production Cost Drops to $77K: JPMorgan’s Surprising Bullish Signal for Crypto Markets NEW YORK, March 2025 – In a significant development for cryptocurrency markets, JPMorgan Chase has dramatically revised its Bitcoin production cost estimate downward to $77,000, marking a substantial 14.4% reduction from its previous $90,000 projection at the beginning of the year. This adjustment comes amid notable shifts in Bitcoin’s fundamental network metrics, providing crucial insights for investors navigating the 2025 digital asset landscape. The banking giant’s analysis reveals important dynamics about mining economics while simultaneously reaffirming its optimistic long-term outlook for the world’s leading cryptocurrency. Bitcoin Production Cost Analysis: Understanding JPMorgan’s Revised Estimate JPMorgan’s research team delivered this updated assessment to clients through detailed analytical notes, attributing the reduced Bitcoin production cost primarily to simultaneous declines in two critical network metrics. According to The Block’s reporting, the bank specifically highlighted a 15% decrease in mining difficulty throughout 2025, representing the most significant drop since China’s comprehensive mining ban reshaped global operations in 2021. This substantial difficulty adjustment directly impacts the computational effort required to validate transactions and secure the Bitcoin network. Concurrently, the network hashrate – measuring the total computational power dedicated to Bitcoin mining – has also experienced meaningful reductions. These combined factors create a more favorable environment for mining operations, effectively lowering the breakeven point for producing new Bitcoin. The relationship between these technical metrics and production costs follows established economic principles within cryptocurrency mining, where reduced competition for block rewards translates to lower operational thresholds for profitability. The Technical Mechanics Behind Cost Reductions Bitcoin’s mining difficulty automatically adjusts approximately every two weeks based on network participation levels. When miners reduce their computational contributions or exit the network entirely, the protocol responds by lowering difficulty to maintain consistent block times. This self-regulating mechanism ensures network stability but also creates variable production economics. JPMorgan’s analysis suggests that recent difficulty reductions have meaningfully decreased the energy and hardware requirements for successful mining operations. Industry experts note that these technical adjustments reflect broader market conditions. For instance, reduced mining activity often correlates with periods of lower Bitcoin prices or increased energy costs in key mining regions. However, the current situation appears more complex, involving both cyclical factors and structural shifts in mining geography following regulatory changes across multiple jurisdictions. These developments collectively contribute to the revised production cost calculations that JPMorgan has presented to institutional clients. Historical Context: Comparing Current Trends to Previous Mining Shifts The 15% mining difficulty reduction that JPMorgan references carries particular significance when examined against Bitcoin’s historical data. The last comparable decline occurred following China’s 2021 prohibition of cryptocurrency mining operations, which forced a massive geographic redistribution of computational power. That event triggered a 28% difficulty drop over two months as Chinese miners powered down equipment and relocated operations to more favorable jurisdictions. Current reductions, while substantial, reflect different underlying causes. Rather than regulatory pressure in a single dominant region, 2025’s difficulty adjustments appear driven by a combination of factors including: Energy market fluctuations affecting operational costs in North America and Europe Technological obsolescence of older mining hardware Strategic consolidation among major mining operations Seasonal variations in renewable energy availability These factors collectively create a distinct mining environment compared to previous cycles. Importantly, the current difficulty adjustment occurs alongside continued institutional investment in mining infrastructure, suggesting a maturing industry rather than a contraction. This nuanced context helps explain why JPMorgan maintains its bullish outlook despite reduced production costs that might otherwise signal weakening fundamentals. Mining Economics: A Comparative Analysis Time Period Production Cost Estimate Mining Difficulty Change Primary Driver Q1 2025 $77,000 -15% Multi-factor adjustment Q4 2024 $90,000 +8% Hardware upgrades 2021 Post-China Ban $35,000 (estimated) -28% Regulatory shift 2020 Halving Period $12,000 (estimated) +9% Pre-halving competition This comparative data illustrates how production costs have evolved alongside mining difficulty across different market cycles. The current $77,000 estimate represents a new equilibrium point reflecting both technological advancements and changing energy economics. Notably, production costs remain substantially higher than during previous eras, indicating increased professionalization and capital intensity within the mining sector. JPMorgan’s Crypto Market Outlook: Maintaining Bullish Trajectory Despite lowering its Bitcoin production cost estimate, JPMorgan has reaffirmed its optimistic perspective on cryptocurrency markets for 2025. The bank’s research maintains a long-term price target of $266,000 for Bitcoin, suggesting significant upside potential from current trading levels. This apparent contradiction – reduced production costs alongside elevated price targets – reflects sophisticated analysis of multiple valuation frameworks rather than simple cost-based modeling. Financial analysts note that production costs represent just one component of Bitcoin’s valuation equation. Other critical factors include adoption metrics, regulatory developments, macroeconomic conditions, and relative asset performance. JPMorgan’s sustained bullish outlook likely incorporates positive assessments across these additional dimensions, particularly regarding institutional adoption and regulatory clarity improvements observed throughout 2024 and early 2025. The bank’s cryptocurrency research has evolved considerably since its initial cautious stance toward digital assets. Over recent years, JPMorgan has developed comprehensive analytical frameworks for evaluating blockchain technologies and cryptocurrency markets. This methodological sophistication enables nuanced assessments that distinguish between short-term operational metrics and long-term value propositions. The maintained $266,000 price target demonstrates confidence in Bitcoin’s fundamental adoption trajectory despite temporary adjustments in mining economics. Institutional Perspective on Crypto Valuation Major financial institutions like JPMorgan employ multiple valuation methodologies when analyzing cryptocurrencies. These typically include: Network value metrics comparing active addresses to market capitalization Stock-to-flow models analyzing issuance schedules against existing supply Production cost analysis examining mining economics Relative value assessments comparing to alternative assets Adoption curve projections based on technology diffusion patterns JPMorgan’s research reportedly weights these factors differently based on market conditions and time horizons. The production cost reduction to $77,000 likely influences shorter-term trading ranges, while the $266,000 long-term target reflects broader adoption and macroeconomic assumptions. This multi-framework approach provides institutional investors with comprehensive perspective rather than single-metric dependency. Market Implications: What Reduced Production Costs Mean for Investors The revised Bitcoin production cost estimate carries several important implications for market participants across different segments. For mining operations, lower breakeven points potentially improve profitability margins, particularly for operations with efficient hardware and favorable energy contracts. However, reduced difficulty also means increased competition for newly issued Bitcoin, creating complex operational dynamics that vary by region and operational scale. For investors, production costs establish important psychological and technical levels within trading ranges. Historically, Bitcoin prices have frequently traded above production costs during bull markets and occasionally dipped below during severe corrections. The $77,000 level therefore represents a significant reference point for evaluating market health and potential support zones. Importantly, production costs differ meaningfully from fundamental valuation estimates, serving as operational benchmarks rather than intrinsic value assessments. Traders and analysts will monitor how actual Bitcoin prices interact with this revised production estimate throughout 2025. Sustained trading above $77,000 would signal strong market demand relative to mining economics, while extended periods below might indicate oversupply or weakening investor sentiment. These dynamics become particularly relevant during periods of market volatility or macroeconomic uncertainty. Geographic Considerations in Mining Economics Production costs vary significantly across different mining jurisdictions due to divergent energy prices, regulatory environments, and infrastructure availability. JPMorgan’s $77,000 estimate likely represents a global weighted average rather than a uniform cost across all operations. Miners in regions with subsidized energy or favorable climates may operate substantially below this average, while those in high-cost regions face greater challenges. This geographic diversity creates resilience within Bitcoin’s mining network but also introduces complexity when interpreting aggregate cost estimates. The recent difficulty reduction may disproportionately benefit certain mining operations while having minimal impact on others. These nuances matter for investors evaluating specific mining companies or regional cryptocurrency exposures within diversified portfolios. Conclusion JPMorgan’s revised Bitcoin production cost estimate of $77,000 reflects meaningful shifts in mining network dynamics during early 2025, primarily driven by reduced difficulty and hashrate. This adjustment provides valuable insight into the evolving economics of cryptocurrency creation while establishing important reference points for market participants. Despite this downward revision in production costs, the bank maintains its bullish $266,000 long-term price target, suggesting confidence in Bitcoin’s fundamental value proposition beyond immediate mining metrics. As cryptocurrency markets continue maturing, such nuanced institutional analysis becomes increasingly valuable for investors navigating complex digital asset landscapes. The interplay between production costs, network fundamentals, and broader adoption trends will likely remain a focal point throughout 2025 and beyond. FAQs Q1: Why did JPMorgan lower its Bitcoin production cost estimate? JPMorgan lowered its Bitcoin production cost estimate to $77,000 due to simultaneous reductions in network hashrate and mining difficulty, which decrease the computational effort required to mine new Bitcoin. Q2: What does mining difficulty mean in cryptocurrency? Mining difficulty measures how hard it is to find a new block in a blockchain network. Higher difficulty requires more computational power, while lower difficulty makes mining easier and less energy-intensive. Q3: How does JPMorgan’s $77,000 production cost compare to Bitcoin’s current price? This comparison depends on current market conditions. If Bitcoin trades above $77,000, miners generally operate profitably. If it trades below, marginal operations may become unprofitable. Q4: Why does JPMorgan maintain a $266,000 price target despite lower production costs? The bank uses multiple valuation frameworks beyond production costs, including adoption metrics, macroeconomic factors, and relative asset performance, supporting its long-term bullish outlook. Q5: How significant is the 15% mining difficulty reduction mentioned in the report? The 15% reduction represents the steepest decline since China’s 2021 mining ban, indicating substantial changes in network participation and mining economics during early 2025. This post Bitcoin Production Cost Drops to $77K: JPMorgan’s Surprising Bullish Signal for Crypto Markets first appeared on BitcoinWorld .

13 Feb 2026, 00:56

JPMorgan sees relief for miners as Bitcoin production costs drop

JPMorgan estimates the cost to produce a Bitcoin has dropped to $77,000 from $90,000 since the start of the year, driven by a decline in network hashrate. In the past, this cost has acted as a “soft price floor” for Bitcoin, meaning BTC prices often find support near that level because miners do not want to sell at a loss below their production cost. The recent drop in production costs occurred because Bitcoin’s hashrate and mining difficulty decreased in recent months. Hashrate measures the total computing power used to mine Bitcoin, while the network automatically adjusts mining difficulty to ensure that new blocks are added roughly every 10 minutes. When hashrate falls, difficulty also drops. Mining difficulty has fallen by about 15% so far this year, analysts led by managing director Nikolaos Panigirtzoglou say. Mining difficulty is recalculated roughly every two weeks. The system is intended to keep Bitcoin’s block production predictable. When fewer machines try to mine Bitcoin, the network lowers the difficulty. This makes it easier for the other miners, however, to solve the difficult puzzles needed to add new blocks to the blockchain. Lower production costs boost efficient miners’ profits There are two major reasons for the decline, the analysts said. The price of Bitcoin has dropped this year, making mining less profitable for operators with high electricity costs or those with less efficient, older machines. Many of these miners were forced to turn off their equipment because they couldn’t continue operating profitably. Second, intense winter storms in the United States — not least in Texas, where hundreds of mining works — resulted in temporary shutdowns. In extreme weather, however, grid operators frequently restrict electricity use to safeguard the power network. Large mining complexes were among those that were forced to turn off. Historically, a sharp drop in mining difficulties has often been considered an indication of “capitulation.” That happens when high-cost miners leave the market and sometimes sell their bitcoin to get financed. The same happened in 2021 when China outlawed Bitcoin mining. That decision saw difficulty drop by about 45% between May and July of the year before, then rebound by the end of 2021. JPMorgan thinks the falling difficulty is a relief for miners with businesses running today. Fewer competitors mean each unit of computing power is more likely to earn bitcoin rewards. This enhances profit margins for more effective miners and enables them to capture market share from those who have exited. Some high-cost miners have been selling their Bitcoin reserves to fund daily operations, reduce debt, or shift their focus to artificial intelligence projects this year, the analysts said. The selling activity put added pressure on Bitcoin’s price year to date. But it said it thinks the bad news for this adjustment has already subsided. When weaker players exit a stage like this, the remaining miners are usually much stronger and more efficient. JPMorgan said it’s already observing signs of a hashrate rebound. Maintaining that trend, mining difficulty and production costs may increase again in the next update. JPMorgan expects stronger institutional crypto investment Despite the recent challenges in mining, JPMorgan remains optimistic about the broader crypto market heading into 2026. In a separate report titled “Alternative Investments Outlook and Strategy,” the bank said it expects stronger flows into digital assets next year, mainly driven by institutional investors rather than retail traders. The analysts believe additional crypto regulations in the United States could help boost institutional participation. They pointed to possible legislation, such as the Clarity Act, as a factor that could create clearer rules and encourage more large investors to enter the market. JPMorgan also repeated its long-term price target of $266,000 for Bitcoin. This estimate is based on a comparison with gold , adjusted for volatility. JPMorgan argues that if negative sentiment fades and Bitcoin is again viewed as a strong hedge against extreme economic risks, its price could rise significantly over time. At the time of writing, Bitcoin is trading at around $65,660, down more than 1% over the past 24 hours, according to market data. Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program