The Challenges of Crypto Mining

Mining is very capital intensive because you have to buy A6, these specialized semiconductors used for mining. There's a lot of specialized lenders in the industry who specialize in lending using the actual chips themselves as collateral. So if I want to borrow say $500 million to build a new data center to mine a cryptocurrency, I may pledge those machines as collateral to secure the loan. Chris: This really interesting sustainable finance challenge where the fundamental economics of the business stop working.