Roundup 10/28/22 (Bitcoin’s hashrate spike, Miner insolvencies, Lightning v Rollups) (EP.365)
On The Brink with Castle Island
Bitcoin Mining
The process of building Bitcoin mining facilities takes a long time, 12, 24 months. The hash rate we're coming online now is hash rate that was planned for over a year ago when things were good. I think there is mining occurring in Russia, whether state sponsored or not. It wouldn't surprise me if a lot of this hash rate was Russia.
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