Bitcoin’s first quarter of 2025 has been a turbulent one, marking its worst performance since 2019. Despite this Michael Saylor, remains bullish on Bitcoin announcing another purchase. Meanwhile, the Trump brothers have entered the Bitcoin mining scene, partnering with Hut 8. As the network hashrate begins to recover in March, the struggle for hashprice recovery continues, reflecting the challenging market conditions. In this issue, we also provide a detailed review of Auradine’s next-gen hydro-cooled miner, the Teraflux AH3880’s. For our premium members, we dive into the four ways how AI/HPC will fuel decentralization and innovation in the industry.
Bitcoin Experiences Worst Q1 Since 2019
Saylor Remains Relentlessly Bullish
Trump Brothers Partner with Hut 8 in New Bitcoin Mining Venture
Network Hashrate Recovery in March
Hashprice Struggles to Recover
Review of Auradine’s Next-Gen Hydro-Cooled Miner
The Teraflux AH3880 Compared
Power Management & Optimization Features
Premium Members Only:
Will AI/HPC Slow the Growth of Bitcoin Network Hashrate?
Four Ways AI/HPC Will Fuel Bitcoin Mining Decentralization and Innovation
Bitcoin Experiences Worst Q1 Since 2019
Bitcoin had its worst Q1 performance since 2019, closing the quarter with a 12.5% decline and 25% from the all-time high of January 20th. While this marks a poor start to the year, other quarters have performed worse, such as Q2 2021, which saw a 40% decline, and Q2 2022, which witnessed a 55% drop.
The recent correction was deep enough to impact market sentiment but not severe enough to disrupt the overall macro trend. Currently, the price appears to have set a local bottom between $76K and $77K. After attempting a breakout above the 200-day moving average, BTC has recently fallen back below it. If the price fails to break this level and establish a higher low, we may see a retest of the local bottom.
Saylor Remains Relentlessly Bullish
Michael Saylor’s sentiment remains unchanged as he announced that Strategy has acquired 22,048 BTC for approximately $1.92 billion, at an average price of ~$86,969 per Bitcoin. This marks a significant increase over last week’s already substantial purchase. Strategy now holds a total of 528,185 BTC, bringing it closer to BlackRock’s IBIT Bitcoin Spot ETF, which holds 575,847 BTC.
Trump Brothers Partner with Hut 8 in New Bitcoin Mining Venture
Hut 8 Corp. has launched American Bitcoin Corp., a majority-owned subsidiary focused on large-scale Bitcoin mining and reserve development. This follows Hut 8’s decision to contribute most of its ASIC miners to American Data Centers, Inc. in exchange for a majority stake. Backed initially by Eric Trump and Donald Trump Jr., the company was rebranded to American Bitcoin after the transaction.
Moving forward, all Bitcoin mining operations under Hut 8’s Compute segment will be managed by American Bitcoin, which will remain part of Hut 8’s overall structure. Hut 8 will also serve as American Bitcoin’s exclusive infrastructure partner. The goal is to make American Bitcoin the largest and most efficient Bitcoin miner globally, while building a strategic Bitcoin reserve.
Network Hashrate Recovery in March
After a bearish February, which saw the network hashrate drop by 106 EH/s (12.4%), the 7-day moving average began recovering in March, with hashrate climbing back above 800 EH/s. After fluctuating between 790 EH/s and 830 EH/s for a couple of weeks, a new record high of 861 EH/s was reached on March 27th. It appears that hashrate is ready to start climbing again.
Hashprice Struggles to Recover
Hashprice continues to face challenges due to low transaction fees and weak BTC price action. The latest adjustment has pushed hashprice down to $44/PH/day, a level not seen in four months. While hashprice is attempting to recover, it lacks conviction. With transaction fees accounting for less than 1% of total rewards, miners are hoping for more bullish price action. If that doesn’t materialize, the upcoming difficulty adjustment on Saturday, estimated at around 3%, could push hashprice to new lows for the year.
Review of Auradine’s Next-Gen Hydro-Cooled Miner
Auradine, a U.S.-based Bitcoin mining chip designer, has unveiled the Teraflux AH3880, a next-generation hydro-cooled Bitcoin miner. The rack-mounted miner delivers an exceptional 600 TH/s at an efficiency of 16.5 J/TH in turbo power mode while in normal power mode the machines delivers 450 TH/s at an efficiency of 14.5 J/TH. The dimensions of this hydro-cooled machines are 26.2 x 19.1 x 3.5 inches / 665 x 485.65 x 88 mm (Length/Width/Height).
The Teraflux AH3880 Compared
The AH3880 is part of Auradine’s broader effort to challenge industry giants like Bitmain and MicroBT while reducing the sector’s dependence on Chinese chipmakers. For comparison, Bitmain’s S21XP Hydro, launched in 2024, remains the most efficient hydro-cooled miner at 12 J/TH, while Bitdeer’s SEALMINER A2 Pro delivered the highest hashrate output until the AH3880 was introduced.
Power Management & Optimization Features
Grid Integration & Demand Response – Auradine is the only hardware OEM with direct integration into the power grid and Qualified Scheduling Entities (QSEs). This allows QSEs to dynamically modulate power consumption in mining farms based on grid supply-demand balance and load curtailment.
EnergyTune – EnergyTune utilizes Dynamic Voltage and Frequency Scaling (DVFS) to optimize power consumption per miner by adjusting system parameters. Operators can choose from three modes:
ECO Mode, which maximizes energy efficiency by reducing power per terahash;
Turbo Mode, which prioritizes maximum hashrate performance;
Custom Mode, where users can set preferred energy usage via API or the miner’s web console.
AutoTemp – AutoTemp provides real-time temperature regulation to protect ASICs from overheating. When internal temperatures exceed safe thresholds, the system automatically reduces TH/s to maintain stable operation and extend hardware lifespan.
User-Friendly Interface & API Support – Auradine miners feature a web-based console for real-time monitoring of memory, hashrate, power consumption, efficiency, frequency, voltage, and temperature. The built-in firmware update system simplifies installation and upgrades.
FluxVision – FluxVision allows pre-deployment configuration and tuning for Auradine miners, enabling operators to organize miners into “miner groups” for simplified management and reporting. The Zero Touch Provisioning (ZTP) feature ensures that miners start hashing immediately upon network connection, streamlining the setup process for large-scale mining farms.
Integrated OLED Screen – The integrated OLED screen provides real-time visibility into miner status, including IP address, performance metrics, fault indicators, and temperature monitoring.
Advanced Liquid Detection – The advanced liquid detection system enhances operational safety by swiftly identifying and addressing potential leaks.
The following content is exclusively for our Premium Members:
Will AI/HPC Slow the Growth of Bitcoin Network Hashrate?
Four Ways AI/HPC Will Fuel Bitcoin Mining Decentralization and Innovation
