Bitcoin Mining - Is There a Difference Between Market Cap and Valuation?

Luxor COO and CPO Ethan Vera and Guzman Pintos join the show to talk about their relaunched data product, Hashrate Index and other trends in mining. In this episode: 

• The history of the firm
• Why Luxor created the hashrate index
• How Luxor gathers data on ASIC pricing and creates their time series charts
• ASIC pricing dynamics
• Are sell side analysts correctly pricing ASICs on the balance sheets of public miners?
• Why different efficiencies of miners have traded differently in the last 2 months
• How constraints on rack space affect the demand for older ASICs
• Why so many ASICs can’t leave China
• Is there still residual black market mining in China?
• Kazakhstan’s under-reported mining crackdown
• Are ASIC development cycles slowing?
• Are miners still front-running their clients with prop mining?
• Are Bitcoin miners trying to acquire Bitcoin or do they want to hedge their exposure
• Are derivatives becoming more popular among miners?
• The maturation of the Bitcoin mining derivatives market
• Why prior hashrate derivatives haven’t worked
• Multiple based analysis for public miners
• Why there is a ‘public market arbitrage’ for miners
• Why incentives exist for public miners to be highly acquisitive
• Do miners care about long term fee budget?

Sponsor notes:

• Compass Mining is the world's first and largest online marketplace for bitcoin mining hardware, hosting, and ASIC reselling. Start mining your own bitcoin by visiting compassmining.io