Bitdeer Mining Insights

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Zcash (ZEC) has become one of the strongest performers in the crypto market, rising 125% over the past 30 days despite a recent weekly pullback. The privacy-focused cryptocurrency climbed another 18.7% today to around $586, maintaining its dominant monthly momentum. The sharp price increase has pushed Zcash mining profitability to the top of all proof-of-work (PoW) networks, with ZEC’s Equihash algorithm temporarily surpassing the profitability of Bitcoin’s SHA-256 mining. The surge has also driven Zcash’s hashrate to new record levels as miners redirect computing power toward the network to capture higher returns.

A solo Bitcoin miner earned 3.146 BTC—about $266,000—after miraculously solving block 924,569 using only 1.2 TH/s of computing power. The miner, believed to be operating hobby-grade equipment, secured the block reward despite competing against industrial facilities that collectively produce exahashes of hash power. CKpool administrator Con Kolivas confirmed the win on X, calling the miner “extremely lucky” and estimating the odds at roughly 1.2 million to one per day at the miner’s hash rate. On-chain data shows the miner received 3.125 BTC from the block subsidy plus 0.021 BTC in transaction fees, bringing the total reward to just over 3.146 BTC.

Malaysia’s national utility company, Tenaga Nasional Berhad (TNB), has incurred more than $1.11 billion in losses from electricity theft linked to illegal crypto mining between 2020 and August 2025. According to the Ministry of Energy and Water Transformation, 13,827 locations were found illegally tapping power, mostly for bitcoin mining. The scale of losses highlights a growing challenge. Government officials previously disclosed that illegal miners stole $727 million worth of electricity from 2018 to 2023. Enforcement agencies have intensified crackdowns, destroying over 2,000 seized mining machines that lacked proper Energy Commission certification. Authorities said illegal operations continue to strain the national grid and undermine energy policy.

Maestro has launched Mezzamine, an on-chain credit platform designed to link idle BTC with miners seeking financing. The company said miners struggle to access affordable capital—75% report financing difficulties—while more than $2 trillion in bitcoin sits unused. Limited financing options push miners toward costly USD loans and equity dilution, contributing to rising centralization, with the top five pools earning 75% of block rewards. Mezzamine offers bitcoin-secured credit facilities to lower borrowing costs and give BTC holders yield opportunities, aiming to improve capital efficiency and support a more decentralized mining ecosystem.

Cleanspark announced plans to issue $1 billion in private convertible notes, allocating up to $400 million to repurchase its own shares from participating investors. The remaining funds will support power and land acquisitions, data center development, repayment of Bitcoin-backed loans, and other corporate needs. The notes, maturing on Feb. 15, 2032, carry no regular interest and may be converted to cash or stock after Aug. 15, 2031, at Cleanspark’s discretion. The company joins peers such as Terawulf and Bitfarms in leveraging convertible debt to fund expansion.