SLP487 Bitcoin Mining Energy Debate - Digiconomist and Ben Gagnon
Stephan Livera Podcast
00:00
The Problem With the Energy Consumption Model
The model is not designed according to how operators operate. In the short run, like you said, there are no fixed costs. The only thing that matters in the short run is your electricity costs. And then in the long run, everything becomes fluid. So even your hardware investments in the longrun become variable. But in the very short run, electricity costs can go to 100% of your revenues. That's where you're going to be forced to cut them off.
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