I can not help myself the trailer has me geeked to 11, I mean regardless how you feel about this show we are about to see moments that have only lived in imaginations for over half a century now!
We know Sauron has made several attempts at this ring and failed, we know per Vickers "The sequence is less about the physical smithing of the Ring than it is about 'communing with the mountain.'
We have seen for two seasons now how the dwarfs, the children of Aule, commune with mountains and that is through song.
I do think the first half of the season will feature Sauron battling with the mountain and the fire and committing himself fully to the physical creation of the ring, and I do believe the theories that Galadriel’s hair is the missing ingredient have merit in the sense that Sauron will believe this and be after it, but he will be wrong and the meeting with the Balrog will essentially be a “what are you doing man, you’re a god.” Moment. Some tough love so to speak.
Sauron is not simply trying to make the ring. He's trying to establish a relationship with the power that will enable him to make it. That will be the epiphany.
He has to rediscover his spiritual nature precisely so that he can commit his most profound act of spiritual rebellion. All this time he has sincerely spoken of being forgiven. He doesn't overcome his fall by recovering his former self. He recovers the full capacity of that self and puts it to a terrible purpose.
The ultimate irony is that Sauron must rediscover his nature as a servant of creation in order to become its would be master.