4min chapter

Swan Signal Live - A Bitcoin Show cover image

Austin Mitchell & Patti Trompeter | Swan Signal | EP 113

Swan Signal Live - A Bitcoin Show

CHAPTER

Sphere 3D: A Bitcoin Mining Company

When China decided they were going to ban Bitcoin mining, we came into a very large contract which was below market. As part of the contract renegotiation, we ended up getting 12,000 miners all at once. We've got almost no debt on the balance sheet. But it's at such a low rate that it makes no sense. I'm earning more on my Bitcoin than I am on the debt. All the miners are paid for. We're just mining and laughing a bit, holding onto the Bitcoin where we can. It seems like a win-win all around for the energy suppliers as well as the Bitcoin miners.

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