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Author: Hashrate Index
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Overview
Every mining operation relies on the same critical infrastructure: transformers. Whether deploying a single megawatt container or building industrial-scale sites with hundreds of megawatts, transformers play a central role in converting medium-voltage grid power into low-voltage electricity, providing stable power for ASIC and GPU clusters. Proper selection ensures continuous operation; mistakes can lead to power outages, circuit breaker trips, equipment overheating, and even hardware damage.
However, as such a vital infrastructure component, transformers in the mining industry are

Author: Max Wong @IOSG
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Introduction
Pump.fun launched in early 2024 as a permissionless Meme Launchpad on Solana, allowing anyone to create and trade tokens within seconds using a Bonding Curve mechanism. The project initially was a niche experiment but quickly became one of the highest revenue applications on public blockchains.
Between 2024 and 2025, Pump.fun's daily protocol revenue continued to

Author: Thejaswini M A
Translation: Block unicorn
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Preface
There is a category of companies that profit when the global situation worsens. Defense contractors, oil giants, gold mining companies. These are obvious examples; their business models are built on unstable foundations, and they have priced in this instability.
Circle was not originally supposed to fall into this category. Its token value has always been fixed at $1, which is by design. Stability is at the core of its product. However, the stock price of Circle has fallen from

Author: The Master Investor Podcast
Translation: Plain Blockchain
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Disclaimer: This article is a reprint. Readers can find more information through the original link. If the author has any objections to the reprint, please contact us, and we will make modifications according to the author's requirements. Reprints are for information sharing only, do not constitute any investment advice, and do not represent Wu Shuo's views and positions.
In this interview, Wilfred Frost had a second in-depth conversation with Dan Morehead, founder of Pantera Capital. They discussed Bitcoin's cycle positioning after a 50% retracement from its high; how fiat devaluation creates generational wealth conflicts; and why this round of "smart money" is actually the last to enter.
01 "Still the most asymmetric trade in history"
Host: Last time you