Smoke from Nicaraguan cigars filled the room as a major Bitcoin miner from the Deep South described how the industry was growing rapidly.
“You have no idea,” he said at this year’s Mining Disrupt pre-evening event in Fort Lauderdale, Florida, adding a famous line among bitcoiners that President Trump often repeated during his campaign: that you should never get rid of your holdings.
Having been in the industry since its inception, he recalled buying a Ferrari with orange coins many years ago, something he now regrets, laughing, as the assets have increased in value significantly.
Bitcoin has been on a steady rise for years, reaching new highs following President Trump's victory in November . The new commander in chief vowed to help the industry during his campaign after regulators tightened their grip on cryptocurrency companies during former President Joe Biden's administration.
Some of the resulting optimism was evident at the event. However, there was also a sadness at the world’s largest crypto mining expo this week, as members of the fast-changing and mysterious industry acknowledged the challenges of living in an increasingly competitive and expensive Bitcoin mining environment.
Case in point: Bitcoin is currently down 24% from its January high, trading below $83,000. However, mining difficulty continues to skyrocket, setting new records — and very quickly.
“It’s just so hard to keep up,” said one man with a small business in this cutthroat industry, who asked to remain anonymous. He quickly changed the subject to talk about his part-time job in Solana.
Weather problems
Bitcoin mining is a complex but important area in the world of cryptocurrency. Conceptually, people seem to understand why it is necessary for the industry — President Trump has even mentioned the importance of protecting businesses — but for many, it is too technically complex to wrap their heads around.
Even for crypto enthusiasts.
But in a nutshell: Bitcoin mining requires significant resources, particularly cheap energy, to power the powerful, noisy machines that power the payment network. Miners are typically large industrial enterprises that receive newly minted digital coins when they process a block on the blockchain.
As the network grows — as expected — mining difficulty increases. And more labor is required to stay in business. When the price of BTC falls, selling Bitcoin rewards may not be enough to cover costs.
The room is packed to the brim with @MiningDisrupt panel discussion led by @Bitcoin_Curtis on #Bitcoin mining and @AI@compass_mining pic.twitter.com/PARggOAK68
— Shanon (@ShanonSquires) March 26, 2025
In short, Bitcoin mining is a complex business. And this was a common theme at the conference, including discussions of ways to diversify the activities of mining companies.
“There’s a huge opportunity here in Bitcoin mining,” data center guru Chad Everett Harris enthused at a panel, while trying to convince miners to invest in artificial intelligence businesses for extra revenue, an increasingly popular trend.
Paul Lee, CEO of mining technology provider Fog Hashing, added that miners simply “can’t miss out” on the opportunity to get in on the growing AI wave.
However, as Decrypt has learned , the transition from creating “digital gold” to running AI-powered data centers is no easy task even for large companies.
If even Nasdaq-listed mining companies are wary of entering the world of AI—an expensive and complex process—what's left for smaller players?
New era?
On the eve of his victory, President Trump said that under his leadership he would strive to ensure that all future Bitcoin is 100% American-made.
Miners largely avoided discussing politics with Decrypt , and there weren't a single red helmet at the event — unlike the MAGA-heavy Bitcoin 2024 Nashville last summer. Still, there was a sense of relief among miners about the new administration.
Source: cryptonews.net
