On The Brink with Castle Island

Anders Larson (U.S. Bitcoin Corp) on strategic miner decision making (EP.270)

Dec 20, 2021

48:29

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Highlights

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Episode notes

Bitcoin Mining

02:14

Why Is There So Much Energy to Use in the Long Run?

02:35

The Proof Is in the Pudding

03:58

Introduction

3min

You're a Busy Man, and You've Loaned Out to Cavalry Crypto

2min

Is Bitcoin Clogging Up the Supply Chain?

2min

Mining

2min

Wind and Solar

2min

Is It Possible to Increase Energy Costs in the Mining Industry?

2min

Is There a Correlation Between the Energy Cost and the Depreciation Cycles?

2min

Is There a Demand Response?

2min

Do You Think the Tashwat Recovery Will Be as Aggressive as the u.s.

5min

10.

Bitcoin Mining

2min

11.

New York Is Probably the Number Two State in Terms of Biquin Mining in the Us

3min

12.

Bitcoin Mining

2min

13.

I'm Not an Expert in Energy, but I Think It's a Political Show as Well

2min

14.

Why Is There So Much Energy to Use in the Long Run?

3min

15.

The Proof Is in the Pudding

4min

16.

Domicile Bikon Mining

2min

17.

Bitcoin Mining

2min

18.

Bacorn Mining

2min

19.

The Supply Side Dynamics Around Hash Rate

4min

Anders Larson, head of strategic finance at U.S. Bitcoin Corp, joins us to talk about how miners make decisions and allocate capital. In this episode:

The Wharton class of 2018
Are Bitcoin miners clogging up the chip supply chain?
Why Bitcoin miners are 'tier 2' customers at foundries
The scale of US BTC operations in terms of hashrate
Why US BTC has been so quiet historically
How US BTC targets renewable energy
Which renewables are easiest to find
Is there any truth to the story of Bitcoin improving the economics of renewables?
Why ASIC depreciation is slowing, and how that affects the viability of different energy sources
The relationship between Bitcoin's carbon intensity and ASIC depreciation period
Can ASICs last for 5 years?
How does US BTC think about uptime on their units?
Why lower uptime means that you have cheaper power due to demand response
How US BTC thinks about hashrate growth and why they are more conservative than their competitors
Why Chinese hashrate is not completely eliminated
The state of affairs in Kazakhstan
How Anders thinks about political risk in mining
How policy logic informs selective mining bans and mining subsidies
How Anders sees miners vertically integrating with energy firms
How Anders thinks about proposed state bitcoin mining bans in places like NY
Why mining bans in the West are often counterproductive
The relationship between energy consumption and civilizational progress
How Anders thinks about the energy cost debate
Whether the CBECI hashrate distribution estimates are reliable
Why the US having a large share of hashrate isn't something to be concerned about
How mining could become a states rights issue
Does US BTC project fee growth in their models?

Sponsor notes:

Compass Mining is the world's first and largest online marketplace for bitcoin mining hardware, hosting, and ASIC reselling. Start mining your own bitcoin by visiting compassmining.io
This episode supported by Public.com. Start investing with as little as $1 and get a free slice of stock up to $50 when you join Public.com today. Visit public.com/onthebrink to download the app and sign up.

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