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The podcast discusses the 2024 outlook for Ethereum, Solana, and Bitcoin, including the adoption of Ethereum L2s and the renaissance of onchain activity on Solana. They also delve into Bitcoin miners' profitability and debate the imminent approval of the ETF. The challenges of isolated fee markets in Solana and the potential of Solana as a competitor to Ethereum are explored. Lastly, they examine Bitcoin's fee revenue, its impact on the security model, and the different perspectives on the ETF's impact on the crypto market.
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Quick takeaways
- Bitcoin miners are experiencing a surge in profits due to the upcoming Bitcoin ETF and increased transaction fees.
- Solana has the potential to offer unique features and solidify its position as a top-tier blockchain through optimization, addressing technical challenges, and successful application launches.
Deep dives
Bitcoin Miners Making a Profit
Bitcoin miners are experiencing a surge in profits thanks to the upcoming Bitcoin ETF and increased transaction fees. Some notable mining companies, such as Marathon, Clean Spark, and BitDear, have seen significant increases in their stock prices. Marathon recently acquired two Bitcoin mining sites, which will nearly double their mining capacity. BitDear, founded by Gian Wu, offers a compelling investment opportunity with similar mining capacity to Marathon and Riot, but at a significantly lower valuation. BitDear also has cheaper electricity costs and recently formed a partnership with NVIDIA to provide AI cloud solutions. With their focus on the United States and their expansion into the Asia market, BitDear appears to be an undervalued mining play in the current market.
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