The Mining Pod | Blockspace Media

Today we’re going offroad from Bitcoin mining into an adjacent subject, decentralized storage. We are joined by Bill Schreckenstein, an engineer at Protocol Labs focused on building a decentralized alternative to cloud computing such as AWS. Bill gives us the inside scoop on Filecoin–a decentralized network for storing data. We talk about the actors, the economics and how it compares to Bitcoin mining. https://filecoin.io/ Bill Schreckenstein:https://www.linkedin.com/in/billschreckenstein Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:18 Bill's bio 05:26 Filecoin ecosystem 09:41 Adding capacity to the network 11:36 Slashing 12:50 FIL token & monetary rewards 16:50 Customer base? 21:06 Becoming a Filecoin storage provider 24:31 It's NOT like 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://www.linkedin.com/company/compassmining Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we are joined by Andy Long, CEO of White Rock Management. A Bitcoin mining OG, Andy walks us through the current mining landscape, his long term mining thesis and a primer on European mining opportunities. https://wrm.swiss/ Andy Long: https://twitter.com/longandy Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:42 Andy Long Bio 04:29 It's all about the difficulty adjustment 09:27 Surplus ASIC supply 11:59 Near future predictions 15:07 Has the cycle changed? 20:27 The halving & energy prices 25:45 Mining in Europe 28:49 Mining in the US 32:33 Hashrate prediction 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

In this week’s news roundup, we talk about the Fed denying Costodia’s banking application, friendly mining regulation making it’s way through Montana’s legislature, and a school employee putting miners in a crawlspace to leach electricity, sneaky, sneaky. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/policy/2023/02/23/crypto-bank-custodias-bid-for-fed-supervision-rejected-again/ https://www.coindesk.com/policy/2023/02/23/montana-senate-passes-bill-protecting-crypto-miners/ https://www.msn.com/en-us/news/crime/cryptocurrency-mine-secretly-operated-inside-mass-school-crawlspace-police-say/ar-AA17OFJa https://mempool.space/mining TIMESTAMPS: 00:00 Start 00:51 Custodia banking denial 04:54 Montana friendly mining regulation 07:08 Employee stealing electricity 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 Brian Morgenstern, head of public policy at Riot Platforms. Brian recently joined Riot to advocate for the Bitcoin mining industry in Washington DC. We talk about the recent SEC crackdown on staking, operation choke point 2.0 and opportunities for policy makers. https://www.riotplatforms.com Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:14 Kraken SEC judgment 04:40 Kraken staking product vs mining 07:05 Brian background 10:19 Bitcoin policy lobbyists 15:31 State vs federal policy focus 17:15 Energy narratives 21:27 Risks and opportunities 27:18 Operation Chokepoint 2.0 33:08 Rationale behind Chokepoint 37:16 Future opportunities 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

In this week’s news roundup, we talk about Core Scientific flying high (literally) in private chartered jets, Blockchain.com’s loss connected with the Three Arrows Capital debacle, and WSJ uses a clickbait headline to detail mundane Bitcoin open sources processes that zero normies will understand. Good times. Colin Harper: https://hashrateindex.com/blog/author/colin/ Colin Harper: https://twitter.com/asilayhodling Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2023/02/17/crypto-miner-core-scientific-paid-more-than-1m-to-ceo-affiliated-personal-jet-company/ https://decrypt.co/121627/blockchain-com-shopping-assets-to-fill-270m-hole-from-three-arrows-capital-sources https://archive.is/Q03au https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:36 Core Scientific Jet Company 05:44 Blockchain.com's 3AC Loss 11:20 WSJ: 6 Mysterious Coders 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 Frank Holmes and Aydin Kilic of Hive Blockchain. We talk about Hive’s 2022 including Ethereum mining and the Intel-based Buzzminer. Mainly we focus on Hive’s corporate culture, including its dedication to efficiency, maintaining margins and controllable risks. https://www.hiveblockchain.com/ https://twitter.com/HiveBlockchain Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:55 Leadership change at Hive 04:50 Hive operations & new CEO 07:44 ETH mining change & new chips 13:07 4722 BTC equivalent mined 14:52 Texas is a crowded market now 16:22 Scaling past 10k+ ASICs 25:31 Intel chips & building a new miner 32:37 Not making miners 34:51 2023 & beyond 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

In this week’s news roundup, we talk about the SEC staking announcement, Kazakh Mining & Ordinal Theory. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/policy/2023/02/07/kazakhstans-president-signs-legislation-to-limit-energy-usage-of-crypto-mining/ https://www.coindesk.com/policy/2023/02/09/kraken-agreed-to-shutter-crypto-staking-operations-to-settle-sec-charges-source/ https://cointelegraph.com/news/argo-ceo-follows-resignation-trend-after-company-acquisition-by-galaxy-digital https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:27 Staking go bye bye 05:08 Kazakhstan energy limit 08:34 Argo CEO resigns 11:23 Ordinals 20:37 ETH vs BTC NFTs 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 Tyler Page, CEO of Cipher Mining. We talk about Cipher’s capital strategy, machine purchases and growing its operational footprint across Texas. https://www.ciphermining.com https://twitter.com/cipherinc Tyler Page: https://twitter.com/rftylerpage Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:20 What is Cyphermining? 06:09 Working with equity groups 08:37 Timing hardware buys 12:41 Bull market pressure to get rigs online 15:29 Managing hardware manufacturers 17:38 Building facilities 22:01 Managing "behind the meter" facilities 24:30 Jobs in mining 26:10 Putting 6 exahash online 28:58 Hashrate prediction 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

In this week’s news roundup, we talk about miners restructuring, Giga raising $10M and Riot staffing changes. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://compassmining.io/education/bitcoin-mining-shares-dilution/ https://seekingalpha.com/news/3930940-bitcoin-miner-riot-platforms-chief-commercial-officer-leaves https://www.theblock.co/post/208109/bitcoin-mining-infrastructure-startup-giga-energy-raising-10-million-in-series-a https://www.coindesk.com/business/2023/02/03/core-scientific-to-hand-crypto-mining-rigs-to-nydig-to-extinguish-386m-in-debt/ https://www.businesswire.com/news/home/20230201006127/en/TeraWulf-Announces-Beneficial-[…]8TsFlWC94i5bShFoukL9Gk5koy58LEUpvQpH4uhrDreVaSuMjrJS3dDw== https://www.bloomberg.com/news/articles/2023-02-02/bitcoin-btc-rebound-gives-crypto-miners-chance-to-renegotiate-debt https://braiins.com/blog/debt-capital-markets-in-bitcoin-mining-part-1 https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:35 Miners Renegotiate Debt 04:41 Core Scientific Debt 06:53 Giga raises $10M 09:13 Riot CCO leaves Learn more about your ad choices. Visit megaphone.fm/adchoices

Hot Bitcoin NFT (Ordinals) talk on today's show. What are they? How are they possible? Is Bitcoin doomed? Find out. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:12 Intro 01:21 Intro 01:40 NFTs on BTC? 03:06 What is an ordinal? 05:11 Tracking & fungibility of BTC 07:07 Storing data on chain 08:19 OP_RETURN 11:52 Taproot transaction types 15:59 Why is on chain data bad? 18:30 Pruning the data on nodes 20:14 Community response 22:16 What is Bitcoin for? 28:12 Other use cases for on chain data storage? 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