Oregon and Washington should be havens for bitcoin miners, but red tape and a lack of curtailment programs are holding the states back.
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Welcome back to The Mining Pod! Today, Beau Turner, the CEO and co-founder of Abundant Mines, joins us to talk about Pacific Northwest Bitcoin mining. Oregon and Washington have some of America's lowest power rates thanks to abundant hydropower, but there's less mining in the region than you might think. Beau explains the barriers keeping hashrate from the PNW, 9.9MW capacity limits, Oregon’s burgeoning curtailment programs, AI competition for power, and how early miners "poisoned the well" in 2018.
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**Notes:**
• Oregon industrial power: 6-8¢/kWh
• Pacific NW has 200-500MW mining capacity
• BPA limits sites to 9.9MW blocks
• 100% bonus depreciation now available
• Texas has several gigawatts vs PNW
Timestamps
00;00;00;00 Start
00;03;28;00 Starting Abundant Mines
00;08;59;09 Pacific Northwest Mining
00;11;24;24 Why not more PNW mining?
00;16;34;12 Industry prospects
00;19;50;29 Smaller is better in PNW
00;22;27;28 Hydro generation
00;24;20;29 Cleanspark
00;24;49;26 Oregon curtailment
00;28;30;23 Power purchase agreements
00;32;09;29 Bitcoin is for Everyone
00;34;05;21 Changes since the halving
00;36;44;25 Depreciating equipment
00;41;57;05 ASIC prices
00;46;20;21 Peak US hashrate?
00;51;30;23 Wrap up
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