Blake King (Galaxy Digital) on Mining, Transmission, and Curtailment (EP.362)
On The Brink with Castle Island
Bitcoin Miners Are Getting Paid in Credits, Not Cash?
It's kind of like if you are short something in a financial crisis, you can always risk not being paid out because there might be things that break so much such that you can't collect on your short. And that's been part of the thing with some of the articles that I've read on Bitcoin miners that made a lot of money during this period. People sell power ahead of time all the time and make money off of it. It's just whenever you get a huge windfall trade because of Bitcoin miners theoretically just going long power and paying the premiums with their mining revenue. That's all they're doing.
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