On The Brink with Castle Island Weekly Roundup 06/28/24 (Solana ETF, Coinbase sues FDIC, SCOTUS vs SEC) (EP.540)
Jun 28, 2024
Topics discussed include BTC mining FUD turning into AI FUD, Solana ETF filing by Vaneck, Coinbase suing FDIC and SEC, SCOTUS limiting SEC's power, State Street's partnership with Galaxy Digital, US reps visiting imprisoned Binance exec in Nigeria, and Germany selling Bitcoin. Also mentioned are Abra settling with regulators, AI energy consumption, government crackdown on crypto industry, and concerns expressed in industry groups' white paper.
AI Snips
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Transcript
Episode notes
Towed Car Bozo Moment
- Matt's car was towed after he parked without a resident sticker and lacked a current registration in the glove box.
- He spent Saturday and the following Monday resolving towing fees and DMV paperwork, calling it a self-inflicted "bozo of the week."
AI Data Centers Will Consume Far More Power
- Nick warns AI compute centers could consume orders of magnitude more energy than Bitcoin mining in coming years.
- He notes AI workloads are less interruptible and less location-agnostic than Bitcoin mining, limiting curtailment options.
Miners Gain Value As AI Compute Partners
- Bitcoin miners with attractive PPAs may repurpose capacity to serve AI workloads, drawing renewed investor interest.
- Deals like CoreSci/CoreWeave triggered sector repricing as miners became viable partners for AI compute demand.