On The Brink with Castle Island cover image

Daniel Roberts (Iris Energy) on Sustainable Bitcoin Mining (EP.278)

On The Brink with Castle Island

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Is Bitcoin a Sustainable Mining Industry?

As a miner, your revenue line is fundamentally the price of bit coin. To bring on line enough mining capacity to normalize those historic returns on capital, you now need 30 gigwats of power. The entire global datisan industry is something like 23. You need 70 billion dollars of capital. And then finally, even if you get that power, you get the capital, you're still waiting how four, five, six years of full manufacturing production of these specialized chips out of age. Oure in the middle of a semi conductor shortage where people literally can't build cars. Not only will we target renewable energy, our one strategy from day one has been really clear: We want to

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