Galaxy’s $30m Offer to Rhodium, Bitmain’s ASIC Surplus, Bitcoin Mining (in Space!), and…Tokenized Nicotine?

In this week’s news roundup, Will and Colin discuss Rhodium’s option to borrow $30m from Galaxy to help with its Chapter 11 restructuring, as well as a Blockspace investigation into how Bitmain’s ASIC chip surplus could be affecting ASIC miner prices.

Sep 6, 2024

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ABOUT

Welcome back to The Mining Pod! Rhodium is filing for Chapter 11 bankruptcy, and they’re going to need cash to get through the restructuring. So in comes Galaxy Digital, which is offering a $30m (or 500 BTC!) loan, in a move that could be a savvy attempt to acquire Rhodium assets. Turning to the ASIC market, bitcoin miner prices are down – a lot – and Bitmain could have a hand in the sluggish demand given how quickly it is releasing new versions of the S21. For a bit of lighthearted news, the guys get cosmic pontificating on interstellar bitcoin mining, while also taking a less lighthearted look at drooping crypto market sentiment. And to close the show, they roast – and we wish we were joking here – a tokenized vaping product(because who doesn’t want to get paid to contract popcorn lung?)

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"The Mining Pod" is produced by Sunnyside Honey LLC with Senior Producer, Damien Somerset. Distributed by CoinDesk.

HOST

William Foxley

Will Foxley is the host of The Mining Pod and publisher at Blockspace Media. A former co-host of CoinDesk's The Hash, Will was the director of content at Compass Mining and a tech reporter at CoinDesk.