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The Importance of Environmentalism in Bitcoin Mining
Bitcoin mining is the only industry that can shut down in 15 minutes and return power to the grid. Data centers, which are what we're classified as uses two to three percent of the energy globally. Above that, Bitcoin mining is only 0.27 percent. You can't do that with consumer food products or aircraft engines.
Sam sat down with Synota Co-Founder and CEO Austin Mitchell and Sphere 3D CEO Patti Trompeter to discuss how Bitcoin mining operations are becoming more efficient, why miners represent long-needed innovation for the energy industry, and what may be behind the recent explosion in Bitcoin’s hash rate.
Timestamps:
00:00:00 “Swan Signal” Intro
00:01:39 Introducing Patti and Austin
00:02:26 Patti’s Journey from the Secret Service and into Finance and Bitcoin
00:05:00 Austin’s Background in the Energy Sector
00:07:02 Benefits of Bitcoin Mining, Innovations, and Educating Lawmakers
00:14:22 Why Does “Proof of Work” Matter?
00:18:48 How Should States View Bitcoin Mining?
00:23:50 How will Miners and Mining Companies Become More Efficient in the Future?
00:31:25 Synota: The Transitive Energy Solution
00:41:12 Sphere3D Mining
00:44:36 Learning Lessons from the 2021 Bull Market
00:51:41 How Does Bitcoin Make You Feel About the Future?
00:54:16 Whats the Next Big Thing Bitcoin Will Fix?
00:56:20 How to Connect with Patti and Austin
00:57:31 “Swan Signal” Outro
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