A Pulse Check on Bitcoin Mining w/ Kaan Farahani

🛠 SPONSORED BY

- Luxor – Mining software, firmware & hashrate tools

https://luxor.tech/

- Altair Technology – ASIC hardware, replacement parts & mining infrastructure

Code: HASHRATEUP

https://altairtech.io

- SoloMining – Home & solo mining made easy

Code: HASHRATEUP

https://solomining.de

🔗 LINKS FROM THIS EPISODE

- Hashrate Index: https://hashrateindex.com/

- Kaan Farahani (X): https://x.com/brightsideBTC

- Luxor Bitcoin mining services: [email protected] or https://luxor.tech

📄 OVERVIEW

In this episode of HashrateUp, Jesse sits down with Kaan Farahani, Research Associate at Hashrate Index (Luxor), for a full data-driven pulse check on Bitcoin mining.

Starting with a breakdown of Luxor's full-stack platform (pool, firmware, hardware trading, hashrate forward contracts, and ERCOT power services), Kaan and Jesse dig into the hard numbers: Bitcoin price fell from a $125K all-time high to the low $60Ks, USD hashprice hit a fresh all-time low of $27.74/PH/day in June 2026, and network difficulty has now declined for the first-ever recorded bear market in hashrate — down 12.3% year-to-date after peaking in October 2025.

The conversation shifts to forward markets, where Kaan unpacks two years of hashrate forward contract data — nearly $300M in trading volume in 2025 alone. The headline finding: every rolling hedge strategy, regardless of duration or denomination, has outperformed spot Bitcoin mining since the 2024 halving. Over the trailing 12 months specifically, dollar-denominated hedges beat spot by up to 9%, while Bitcoin-denominated hedges lagged — a direct result of the ongoing AI/HPC compute competition for power and its effect on network difficulty.

Jesse and Kaan also debate why the forward market is currently pricing in a return to 1+ zettahash of network hashrate by October 2026, despite AI/HPC infrastructure buildout showing no signs of slowing — and close out with a look at ERCOT's 4CP summer curtailment season and its seasonal drag on difficulty.

⚠️ DISCLAIMER

This content is for informational purposes only and should not be construed as legal, investment, financial, or other advice. Nothing contained in this content constitutes a solicitation, recommendation, endorsement, or offer by Luxor or any Luxor employee to buy or sell any derivatives or other financial instruments in this or any other jurisdiction in which such solicitation or offer would be unlawful under the derivatives laws of such jurisdiction.

There are risks associated with trading derivatives. Trading in derivatives involves risk of loss, loss of principal is possible.

🔗 RESOURCES

📲 HashrateUp Hardware Deals (Telegram): https://t.me/hashrateup

📩 Learn Bitcoin Mining (Free 5-Day Course): https://hashrateup.com/newsletter-sign-up/

#BitcoinMining #Hashprice #HashrateIndex #Luxor #MiningData #HashrateUp