Show Notes
🛠 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:
BTC Backed Loans: https://firefish.io?ref=satoshi2984
Wilson Mining: https://wilsonmining.io/ https://x.com/WilsonMining/status/2033302654110065092?s=20 https://x.com/WilsonMining/status/2047725129288110136?s=20 https://x.com/WilsonMining/status/2049635444652978514?s=20
In this episode of HashrateUp, Jesse sits back down with Steven Wilson (Wilson Mining) to break down BLOC — Bitcoin Line of Credit — and why it may be one of the most underused tools for miners trying to survive the current hashprice bear market.
Starting with an update on Wilson Mining's move from Iowa to Nebraska and where hashprice sits right now ($32/PH/day), Steven and Jesse get into the core idea: instead of selling mined Bitcoin every month to cover hosting bills, miners can borrow against their BTC holdings and pay operating expenses with the loan — keeping their Bitcoin in place while they wait for better prices.
Using a real model (S21 Pro, 245T, hosted at 8¢/kWh, 4-year period, LTV capped at 15%), Steven walks through the numbers: without BLOC, a miner nets 0.02 BTC. With BLOC, that number jumps to 0.32 BTC — a 60% difference in final Bitcoin holdings, driven entirely by not being forced to sell during weak price periods.
The conversation also covers why buying ASICs on credit is a bad idea (unlike BTC, they depreciate fast), how LTV and liquidation risk actually work, why rolling lines of credit (Strike-style) beat fixed 12-month loans, and how BLOC ties into US tax strategy for miners. Steven closes with rapid-fire advice on safe starting LTV, liquidation buffers, and the biggest mistake miners make with Bitcoin-backed loans.
⚠️ Neither Jesse nor Steven are financial advisors. This is not financial advice — treat Bitcoin-backed loans with caution and do your own research.
TIMESTAMPS: 0:00 Intro & disclaimer 2:30 Wilson Mining update: move from Iowa to Nebraska 5:00 Market conditions: $32 hashprice, -10% difficulty 9:00 What is BLOC? Bitcoin Line of Credit explained 14:00 Commodity storage analogy (corn & soybeans) 18:30 Why you shouldn't buy ASICs on credit 23:00 LTV & liquidation risk explained 27:30 Case study: 0.02 BTC vs 0.32 BTC over 4 years 33:00 Rolling credit lines vs 12-month loans 38:00 Tax advantages for US miners 43:00 Rapid fire: safe LTV, liquidation buffer, biggest mistakes 47:00 Advice for first-time miners
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#BitcoinMining #BLOC #BitcoinLoan #WilsonMining #Hashprice #HashrateUp
More from HashrateUp - A Bitcoin Mining Podcast
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HashrateUp Hydro Hosting is live: enterprise-grade, hydro-cooled hosting in Texas, now open to small miners starting at just one machine. 👉 Get started: https://hashrateup.com
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Cheap power means nothing if the government turns against you. Giannis Andreou, CEO of Bitmern Mining, started hosting Bitcoin miners in the UAE on agricultural power below 6¢/kWh, was forced out when the government banned that power, moved to Ethiopia, and is now watching the same story repeat as the Ethiopian government takes over mining and large operators pack up and leave.
Texas is ending 4CP. The incentive that saved flexible miners roughly $50,000 per MW per year is likely in its final season, and ERCOT is moving toward 12CP by 2028. Haley Thomson, Director of Energy at Luxor, explains what that means for Bitcoin miners and who ends up paying for the grid.Haley breaks down how 4CP actually works, why firm loads are pushing for change, and how 18+ GW of new battery storage has compressed capacity prices across ERCOT. We also cover why Bitcoin mining is close to the perfect grid-balancing load, how batteries and miners compare as grid assets, and how Luxor performed what's likely the first 4CP curtailment of GPUs in ERCOT.We also walk through the Luxor Energy dashboard live, from tracking load against breakeven to iMiner underclocking, 4CP buffer settings and what it really costs to be online during a peak. At the time of recording, 4CP season 2026 was likely already over.This episode is not sponsored by Luxor. Nothing discussed is financial advice. Do your own diligence before making energy or mining decisions.Guest: Haley Thomson, Director of Energy at Luxor TechnologyLuxor Energy: https://luxor.tech/energyHaley on Hashrate Index: https://hashrateindex.com/blog/author/haley/Luxor: https://luxor.techTimestamps:0:00 Intro0:45 Can AI provide grid flexibility?1:31 The first GPU 4CP curtailment in ERCOT3:45 What 4CP is worth: ~$50K per MW per year6:02 How 4CP works and who pays for the grid8:54 Why Bitcoin mining is the perfect flexible load11:45 Adding 60 GW of renewables: the transmission bottleneck14:00 Why firm loads want 4CP gone16:43 How miners lower off-peak energy prices20:57 Renewables, congestion and transmission costs24:54 12CP explained: what changes for miners29:29 Curtailing at $0 power: the solar mismatch31:04 How 18 GW of batteries reshaped ERCOT36:22 Battery vs Bitcoin mine39:10 Capex: batteries vs hydro vs air-cooled mining41:49 Luxor Energy dashboard walkthrough43:54 iMiner: raising breakeven from $75 to $90/MWh45:28 4CP buffer settings and risk48:58 What missing a 4CP peak really costs51:54 The AI pivot and tier-zero data centers55:11 Where to find Haley and Luxor EnergySponsored by:Altair Technology. ASIC hardware, replacement parts and mining infrastructureCode: HASHRATEUPhttps://altairtech.io/aff/125/HashrateUp Hardware Deals: https://t.me/hashrateupFree 5-Day Bitcoin Mining Course: https://hashrateup.com/newsletter-sign-up/#BitcoinMining #ERCOT #4CP #LuxorEnergy #HashrateUp