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James McAvity, CEO and co-founder of Texas-based Bitcoin mining company Cormint Inc., says the current period is the best time in five years to invest in Bitcoin mining. His view is based on two converging developments: a decline in Bitcoin network mining difficulty and an influx of ASIC mining hardware onto the secondary market as operators offload equipment.
McAvity’s argument centers on what happens when struggling mining operations sell off their ASIC machines. As that equipment leaves the market, two effects occur at the same time: network mining difficulty eases for active miners, and the increased supply of secondhand hardware reduces the cost of acquiring additional hashrate.
Cormint is positioned to take advantage of those dynamics. The company raised $29 million in Series B funding in July 2024, which it says it used to scale operations to 2 EH/s of mining capacity and 75 MW of managed power.
Cormint has also targeted an all-in power cost of sub-1.9 cents per kilowatt-hour, a level it describes as placing it among the most cost-efficient operators in North America.
Cormint operates under the Electric Reliability Council of Texas (ERCOT), the independent grid that serves most of the state. McAvity says Texas miners can participate in demand response programs, which pay operators to curtail electricity usage during periods of peak grid stress.
According to the company’s approach, Cormint has built its operational model around the interaction between mining activity and energy management through these programs.
McAvity has also pointed to the composition of Bitcoin mining revenue. Transaction fees accounted for just 2% of overall Bitcoin mining revenue as of September 2025.
With fees contributing such a small share, McAvity argues that the economics of mining become dominated by electricity costs.
Coinbase has launched a High Yield USDC vault within its in-app DeFi lending offering, adding a second lending option that provides exposure to a wider range of collateral assets. The product is powered by Morpho infrastructure and uses vault allocations curated by Steakhouse Financial.
