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Welcome back to The Mining Pod! Today, independent stock analyst Pennyether joins us to talk about Bitcoin hashrate crossing 1 zettahash, the economics of ASIC manufacturing, and how Bitdeer could challenge Bitmain's dominance. We explore why miners spend 35-40% of revenue on ASICs, the HPC narrative driving mining stocks up, and why hashrate will continue growing exponentially despite megawatt concerns.
**Notes:**
• Bitcoin hashrate officially crossed 1 zettahash
• ASIC manufacturers capture 35-40% of mining revenue
• $19B+ annual Bitcoin mining revenue potential
• Bitfarms stock rose 138% in one week
• Bitdeer using TSMC for competitive advantage
• HPC deals 2-5x more profitable than mining
Timestamps
00:00 Start
05:38 Who is Penny?
08:39 Testing ideas & mining data
14:31 ASIC manufacturing market
24:10 Hashrate
28:28 HPC & AI
31:14 Valuation with & without deals
36:24 ASICs & Bitdeer
40:34 ASIC margins
45:21 Cannan
49:19 Vertical integration
52:42 When mining stocks polymarket?
