The Mining Pod | Bitcoin Mining News

Today we are talking about the Blockrock ETF, the Coinshares mining report, the new Blockstream mining rig and flare gas mining in Argentina with Crusoe Energy. Listener Survey https://docs.google.com/forms/d/e/1FAIpQLSdvmgIN36Uz8Xul73lNiLADM0vyUxHCuy5WKFDsgI1qiTznuw/viewform https://www.coindesk.com/tech/2023/06/13/bitmains-s19-bitcoin-miners-account-for-bulk-of-network-hashrate-says-new-research/ https://twitter.com/wolfiezhao/status/1668596600690851845 https://www.coindesk.com/tech/2023/06/13/bitcoin-infrastructure-firm-blockstream-to-unveil-its-long-awaited-mining-rig-in-3q-of-2024/ https://twitter.com/EricBalchunas/status/1669691447996456963 Charlie Spears: https://twitter.com/cbspears Tatum Turn Up: https://twitter.com/tatumturnup Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:52 Blackrock ETF 06:13 Damus debacle 07:08 Between Two ASICs 08:25 Blackrock again 10:26 Coinmetrics report 15:59 Blockstream miner 20:42 Iris Energy 25:31 Flare gas mining in Argentina MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are joined by Jim Seto, CEO of ePIC Blockchain Technologies. We discuss designing the ePIC Blockminer, partnering with Intel and making mining rigs in North America. https://epicblockchain.io Jim Seto: https://www.linkedin.com/in/jim-seto-663149a Will Foxley: https://twitter.com/wsfoxley SPONSOR MinerMag is a research and data portal focusing on institutional bitcoin miners, consolidating company-level and network-wise data to produce coherent research articles on the state of bitcoin mining. https://theminermag.com TIMESTAMPS: 00:00 Start 01:26 Jim Seto Background 02:35 From chip fabrication to BTC 04:44 What is Epic? 08:19 The semiconductor landscape 13:09 Design vs. chip density 16:01 Nanometer are mostly marketing 19:37 Cost vs efficiency 21:55 Shipping before it's ready 24:03 Epic products 27:38 Intel partnership 30:51 Just buying chip challenges 34:30 Growing in a bear market 38:40 Geopolitics 41:35 Fabricators opinion of BTC mining MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are talking about BTC Prague, BitGo acquiring Prime Trust and Consensys troubles over assets. https://www.btcprague.com https://www.coindesk.com/business/2023/06/08/crypto-custody-firm-bitgo-reaches-preliminary-agreement-to-buy-prime-trust-source/ https://www.coindesk.com/business/2023/06/07/bitcoin-halving-is-coming-and-only-the-most-efficient-miners-will-survive/ https://www.coindesk.com/consensus-magazine/2023/06/08/consensys-faces-shareholder-vote-over-controversial-transfer-of-company-assets/ Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:51 Stories from Prague 05:50 BitGo acquires Prime Trust 10:18 BTC halving 13:38 Consensys assets MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are joined by Sebastien Hess, co-founder of Block Green, a protocol for selling hashrate. We discuss how miner’s sell hashrate, who is buying hashrate and how Block Green thinks of energy. https://www.block.green Sebastien Hess: https://twitter.com/SebastienHess Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:36 Black Green overview 03:58 Hashrate derivative 05:48 What is a vault? 06:51 Onboarding miners 09:05 Contracts & collateral 11:12 Who is buying? 13:02 Liquidity 14:47 Size of contracts 15:44 Minimum hash 17:28 EU vs US customers 18:35 EU mining landscape 20:56 Energy source profile 22:54 KYM process 25:33 Future of Block Green MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are talking about how miner revenue has been up, if old ETH miners pivoting to AI is realistic and Tether hydro mining in Uruguay. https://www.theblock.co/post/232886/bitcoin-miner-revenue-climbs-to-916-million-in-may https://www.coindesk.com/business/2023/05/26/usbtc-aims-to-become-bitcoin-mining-giant-after-deal-to-buy-celsius-assets/ https://hashrateindex.com/blog/fahrenheit-256-inside-us-bitcoin-and-cos-acquisition-of-celsius-bankruptcy-assets/ https://www.businesswire.com/news/home/20230531005132/en/CoreWeave-Secures-200-Million-Series-B-Extension-Bringing-Total-Round-to-421-Million https://twitter.com/nic__carter/status/1664675237819031553 https://www.theblock.co/post/232521/tether-bitcoin-mining-uruguay https://www.thestreet.com/cryptocurrency/news/biden-30-percent-bitcoin-mining-tax-debt-ceiling-deal https://github.com/djrtwo/writing/blob/main/docs/2022-05-30_the-risks-of-lsd.md Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:13 Miner revenue increase 02:25 USBTC to buy Celcius assets 04:19 ETH miners pivot to AI compute 06:08 Nic Carter on AI pivot 07:09 Tether mining in Uruguay 08:22 Biden 30% mining tax dead (for now) 09:28 ETH risks of LSD MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

We are down south in Miami for Bitcoin 2023. Today we are joined by Taylor Monnig, VP of Mining Technology at CleanSpark. We discuss the history and current trends in immersion mining, oil vs hydro, overclocking and how to decide if immersion is right for a specific location. https://cleanspark.com Taylor Monnig: https://twitter.com/taylorbmonnig Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:54 Immersion mining overview 06:10 History of immersion mining 07:53 Taylor's history 11:04 Who is using immersion? 13:38 2019-20 immersion scene 15:19 Current trends 16:21 1 vs 2 phase 17:37 Why use immersion 20:23 Current innovations 22:15 Immersion patents 23:24 ASIC immersion demand 25:47 Hydro vs immersion 27:54 Cooling design mistakes 30:23 Cleanspark 33:00 Setup immersion vs air cooled 35:56 Deciding to go immersion MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are joined by Anthony Power to discuss his May mining update, “Ranking ‘mid-tier’ Bitcoin miners, by the numbers”, the effect of Ordinals on rewards and the continued importance of balance sheet management. https://compassmining.io/education/ranking-mid-tier-bitcoin-miner/ Anthony Power: https://twitter.com/cazenove Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 02:14 Top miner update 08:53 This month's narratives 17:13 Hut 8 production 23:04 Balance sheet importance 29:26 Mid-tier miner ranking 37:42 Miner margin table 43:01 Direct Cash Cost per BTC 48:39 Share price growth 50:13 Rankings MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

We are down south in Miami for Bitcoin 2023. Today we are joined by Lee Bratcher, President of the Texas Blockchain Council. We discuss Texas mining, Bitcoin and CBDC bills, domestic ASIC production and garnering public interest. Lee Bratcher: https://twitter.com/lee_bratcher Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:13 Proof of Reserves Bill 02:15 State based law making 05:32 Texas CBDC Bill  08:14 Limiting BTC mining in ERCOT Bill 16:38 Political flexibility 19:29 NYT Mining Story 21:44 Miner data privacy 26:07 Interacting w/ journalists 29:25 ERCOT update 34:11 Domestic ASIC manufacturing 37:33 Lobbying progress 41:26 BTC interest in Texas MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are joined by Justin Drake an Ethereum researcher that collaborated on the ETH 2.0 consensus change. We talk about variations of mining attacks on Bitcoin. Justin Drake: https://twitter.com/drakefjustin Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Intro 01:30 Justin Drake 04:05 51% attacks 11:22 Spectrum of attack outcomes 14:33 Attackers vs defenders 19:22 $5.25B economic security 23:17 Tactics 30:46 Timing the attack 34:13 Hardware attacks 39:43 Infrastructure attacks 44:24 Regulation & violence attacks 46:50 Vulnerable attack vectors 52:27 How to prepare? 01:01:38 Checkpoints & ASIC secret code 01:06:48 The role of ideology MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we discuss Ordinals driving a crazy fee market and miners stacking sats, Marathon making moves in Abu Dhabi and the ZeroSync paper. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.nobsbitcoin.com/zerosync-introducing-validity-proofs-to-bitcoin/ https://www.coindesk.com/business/2023/05/11/bitcoins-high-fees-brought-back-bull-market-level-mining-revenue-but-not-for-long/ https://www.coindesk.com/business/2023/05/09/marathon-digital-in-jv-for-immersion-cooling-bitcoin-mining-in-abu-dhabi/ https://mempool.space/block/0000000000000000000435ab16cdc0e2df3a7dbf75eec117ecfcedc6d053b0c2 https://www.coindesk.com/business/2023/05/11/hut-8-first-quarter-revenue-drops-64-as-bitcoin-mining-difficulties-bite/ https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:47 Ordinals fees gone wild! 12:06 Marathon & Abu Dhabi 15:11 Hut 8 having ops trouble 17:40 ZeroSync MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?sub_confirmation=1 LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3rmb7UF Fountain https://bit.ly/3NeNTec RSS https://bit.ly/3chpULV  LEARN Every week, Compass sends a memo to over 18,000 professional miners and investors with the most important news and data in cryptocurrency mining. Get the free newsletter in your inbox too: https://bit.ly/3vOGzxD FOLLOW Twitter: https://twitter.com/compass_mining LinkedIn: https://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices