Nick Hansen, cofounder and CEO of Luxor Technologies, talks about the Bitcoin mining industry, why some miners are struggling while others are succeeding, and the next steps for the industry.
Show highlights:
the current state of the Bitcoin mining industry
why miners have the lowest margin environment ever
why there are so many mining rigs sitting latent
how to calculate the profitability of mining cryptocurrency
why miners are not moving to other countries for lower energy prices
what the impact of a Core Scientific bankruptcy would be
whether finance pools to aid struggling miners are helpful
why some miners are succeeding in this environment
whether Bitcoin miners can adopt renewable resources and help with the transition to green energy
how the mining industry is going to change in the following years
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Episode links
Troubled miners:
Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers
A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes
Bitcoin Miner Iris Energy Says Some Machines Aren't Covering Financing Costs
Bitcoin Miner Argo Blockchain Fears Negative Cash Flow as $27M Raise Fails
Bitcoin mining hosting company Compute North filed for Chapter 11 bankruptcy protection
Miners currently weathering the storm:
Bitcoin Miner CleanSpark Spends Millions on Equipment as Others Struggle Amid Market Conditions
Bitcoin Miner Stronghold Digital Completes Debt Restructuring
Digihost Bucks Bearish Trend Among Bitcoin Miners, Remains Cash-Flow Positive
Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October
Green energy:Solar-Powered Bitcoin Miner Aspen Creek Raises $8M Despite Bear Market
Finance Pools:
DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool
Binance Pool To Support BTC Mining Industry With a $500M Miner Lending Project
