3 Reasons Why The Best Time To Start Bitcoin Mining Was Yesterday With Adam Budd

In this episode, Adam Budd joins Jarrett Carpenter to discuss the current state of Bitcoin mining, emphasizing the importance of getting hash rate online as soon as possible. They explore the competitive pricing of mining equipment, the implications of increasing hash rates, and the potential for supply shocks in the market. Additionally, they provide insights into financial strategies for miners, including tax advantages and the long-term benefits of mining for future generations.Kep Episode Themes:- The price per terahash is still very competitive, making it a good time to invest in mining equipment.- Hash rate is continually increasing, meaning waiting to mine could result in lower rewards.- There was a significant supply shock in 2021, and similar conditions could arise again.- The competition for power in mining is intensifying, especially with the rise of AI and HPC.- Tax advantages exist for miners, particularly when operating through a business entity.- Mining can be a more cost-effective way to acquire Bitcoin compared to purchasing it directly.- The best time to start mining was yesterday, but the next best time is today.⛏️⚡️ EPISODE CHAPTERS ⛏️⚡️00:00 - Adam's Episode Intro00:53 - Adam Just Got More Hash Online Recently With Compass (S19 XPs) 01:08 - Reason 1 - Terahash Is Still Cheap02:50 - Reason 2 - Hashrate Is Increasing06:54 - Reason 3 - Hardware Scarcity08:24 - Lack Of Availability Of Power11:43 - Bitcoin Miners Diversification Into AI/HPC Is Taking Resources Away From Global Hashrate Growth13:24 - Leveraging Taxes To Be A Competitive Miner 16:40 - Perspective Helps Us To Better Understand Why You Should Be Hashing YesterdayReach Out To The Network Firm For Tax Support - https://www.thenetworkfirm.com/Email Adam Today - adam.budd@compassmining.ioAdam's LinkedIn - https://www.linkedin.com/in/adambudd/

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