Mizuho ASIC channel checks: pounding table on $AVGO "potential >35M TPU shipments in 2028E (up 8x from 2026E ~4.3M and 2025 ~2.4M), which is significantly above our estimates of ~7M ASIC shipments for AVGO" "We believe OAI ASIC is in development with 10GW AVGO project (Nexus) adding to TPU/MTIA/ARM roadmap." "Our call noted $ARM AI ASIC chip development ongoing as we continue to expect a launch in late-2026E/early-2027E" " $MU : With potential for TPU shipments to reach a cumulative 50M units in 2026-28E, we think ASICs could command an increasing share of the HBM market, especially as some of the next-gen ASICs move to HBM4e"

👀 #MediaTek# confirms its AI ASIC collaboration with #Intel’s# EMIB-T advanced packaging. The chipmaker is now pushing 400G SerDes IP to target next-gen ASIC opportunities, including reportedly #Google’s# TPU v10 and Meta’s custom AI chips.💡More: 🔗

NEW: The NEXUS S1 BM1373 ASIC is a desktop Bitcoin miner. This little beast produces 10 TH/s of hashrate while consuming just 100W of power, about the same as a standard light bulb.

The real mining race is no longer just for ASICs. It is for power. Bitcoin miners used to be valued mainly by hashrate, fleet efficiency, and cost per terahash. That still matters. But the market is starting to price something deeper: access to electricity, grid interconnection, land, cooling, and flexible load infrastructure. 🟢 Network resilience Bitcoin does not need every miner to stay profitable forever. Hashrate can move. Difficulty can adjust. Blocks can slow, then normalize. The base layer keeps doing what it was designed to do. 🟡 Power reallocation The headlines call it an AI pivot. The data suggests something bigger. Public miners are not only chasing a new narrative. They are monetizing the scarce asset they already spent years acquiring: power access. AI data centers want it. Bitcoin miners already have it. 🔴 The new economics of a megawatt Hashrate is not disappearing, but it is becoming economically mobile. The same megawatt can mine Bitcoin, support AI or HPC, or sit in a demand-response programme, and miner behaviour will increasingly be shaped by power markets as much as Bitcoin markets. The operators who win are the ones who stack the most revenue onto each megawatt without diverting capital away from the hashrate they already run. The Signal Bitcoin mining is not breaking. It is being repriced. The canary is not warning that the network is weak. It is warning that the economics around the network have changed. The next mining cycle may not be won by whoever owns the most machines. It may be won by whoever controls the best power, and makes each megawatt earn the most while it runs.