The Mining Pod | Blockspace Media

Today we are joined by Glyn Jones, CEO of Ice Breaker Finance. Ice Breaker is a novel DeFi application merging miner financing with on-chain contracts. We talk about the mining credit crunch, what makes a good borrower and if ASIC backed loans will survive as a collateral type. https://icebreakerfinance.biz https://twitter.com/IcebreakerDeFi Glyn Jones: https://twitter.com/glynjonesdefi Will Foxley: https://twitter.com/wsfoxley SPONSOR https://foundryacademy.com Enhance your ASIC education with hands-on courses offered by Foundry. Led by industry-veteran instructors, Foundry’s Mining Technician academy programs cover a range of topics - from identifying issues and troubleshooting common hardware failures, to coursework exploring bitcoin’s global impact. TIMESTAMPS: 00:00 Start 00:55 Intro 01:26 Icebreaker Finance 06:23 The value of DeFi for miners? 11:21 Collateral clawback? 18:22 Bad lending terms 23:04 Interest rates and LTV 32:09 Scale of the lending 34:48 ASIC Loans 39:00 Blending loan collateral 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 interview, we discuss competition among Bitcoin miners, building the world’s largest bitcoin mine during Covid, how to think about mining equities, the vertically integrated model, working with ERCOT, deploying S19 XPs and bear market mining strategies. https://www.riotblockchain.com Jason Les: https://twitter.com/jasonles_ Will Foxley: https://twitter.com/wsfoxley SPONSOR https://foundryacademy.com Enhance your ASIC education with hands-on courses offered by Foundry. Led by industry-veteran instructors, Foundry’s Mining Technician academy programs cover a range of topics - from identifying issues and troubleshooting common hardware failures, to coursework exploring bitcoin’s global impact. TIMESTAMPS: 00:00 Start 00:58 Intro 01:50 FTX collapse 03:00 Relationships in the industry 06:48 Miners having trouble 09:11 Bad decisions in mining 14:00 Miner loans and rates 22:20 Building a massive mining site 26:24 Financing expansions 31:21 Risks of mining equity 34:07 The business model of mining 39:44 Working with ERCOT 44:23 ASIC market 49:35 BTC in a broader bear market 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 discuss Marathon’s 2022 including the storm that knocked out its Hardin site, getting 9 EH/s online, EGS regulations, OFAC compliance, if the hosting model is broken or not, Marathon’s finance strategy and why Marathon hasn’t sold its Bitcoin. https://marathondh.com/mining Charlie Schumacher: https://twitter.com/charlieschu Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:35 Intro 09:33 Storm that knocked miners offline 14:02 MARA projecting only 9 exahash 18:49 Getting off coal as an energy source 23:32 Mining pools and OFAC compliance 30:56 ASIC hosting as a business model 36:39 Asset & counterparty risk 42:49 Next gen ASICs & efficiency 44:07 Financing & debt risk 46:04 Keeping BTC in reserve 00:51:26:01 MARA bear market strategy 00:55:16:05 Global energy 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

We talk with Ray Nasser, CEO of Arthur Mining, about teaming up with power producers to utilize stranded renewable energy for Bitcoin mining. https://arthurmining.com Ray Nassar: https://br.linkedin.com/in/raymondnasser Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:23 Intro 05:40 Arthur Mining in Brazil 12:38 High cost of mining in Brazil 15:18 Energy sources 16:59 Brazil vs LatAm markets 20:36 Moving into US market 21:59 Bear market mining in Brazil 23:29 Off grid & wasted energy mining 25:12 Bear market strategies 27:42 Effects of big miners failing 29:53 Market prediction 33:00 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

We talk about the bombshell that is FTX, the tail risks and what it means for the industry. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/policy/2022/11/11/ftx-files-for-bankruptcy-protections-in-us/ https://twitter.com/ChainLinkGod/status/1590920559747272706 https://www.theblock.co/data/crypto-markets/structured-products/premium-of-gbtc https://twitter.com/Edvis100/status/1591106598436761603 TIMESTAMPS: 00:00 Start 01:11 FTX files bankruptcy 08:21 BlockFi contagion 11:55 Broader market impacts 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 on the show I am joined by Alex DaCosta and David Yi of Aspen Creek Digital Corporation (ACDC) to discuss their newest Texas facility. We talk about Compass Mining’s 27 MW deployment to ACDC, working with ERCOT and their energy first approach to mining. https://acdigitalcorp.com https://twitter.com/acdc_hq Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:27 Intro 02:49 New Texas 4 deployment 05:29 Renewables site selection 09:32 Building excess solar capacity 12:23 Dealing with ERCOT 18:02 ERCOT's feelings about miners 22:35 Surviving this bear market 30:53 Managing costs 37:57 Hosting business model 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 talk about publicly traded miners in financial trouble, Compute North and their executive golden parachutes on the day of their bankruptcy filing and new ASIC models M50 and S19 XP pricing. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2022/11/03/bitcoin-mining-host-compute-north-paid-executives-3m-on-the-day-it-declared-bankruptcy/ https://www.coindesk.com/business/2022/11/01/bondholders-of-troubled-bitcoin-miner-core-scientific-said-to-be-working-with-lawyers-bloomberg-says/ https://www.bloomberg.com/news/articles/2022-10-31/argo-shares-plunge-by-record-after-fundraising-collapses https://twitter.com/DylanLeClair_/status/1587804166839324673 https://twitter.com/LaurenQianLin/status/1588560223866089473 TIMESTAMPS: 00:00 Start 00:12 Intro 00:53 Argo, Core & Iris financial problems 05:30 Compute North bankruptcy 07:32 ASIC market 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 more about your ad choices. Visit megaphone.fm/adchoices

Today I am joined by Anthony Power, an independent mining analyst. We talk about Argo Blockchain and Core Scientific’s financial warnings. The day after recording, Iris Energy also announced its inability to pay for up to $103 million in ASIC financing from NYDIG. While we covered Iris’ precarious financial situation, the warning was issued after we recorded this show. Anthony Power: https://twitter.com/cazenove Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:38 Intro 01:35 Argo 15:26 Core Scientific 27:26 Failure of large miners 35:00 Macro forces 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 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 longtime miner Ben Gagnon, Chief Mining Officer at Bitfarms. Ben and I discuss Core Scientific’s bankruptcy warning, Bitarms energy strategy and treasury management. https://bitfarms.com Ben Gagnon: https://twitter.com/hashoveride Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:26 Intro 02:08 Core Scientific 07:48 Effect of company failures 10:28 Bitfarms' hydro strategy 14:00 Bitfarms' business strategy 19:11 Operations 21:34 Using debt in a bear market 28:18 Dangers of growth right now 29:49 Hashrate predictions 34:55 ASIC surplus 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 talk about Core Scientific mentioning possible bankruptcy in SEC filing (stock is down 97%), Maple creating a new lending pool for miners and Block hiring the former CTO of Argo. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://compassmining.io/education/september-monthly-performance/ https://www.coindesk.com/business/2022/10/24/struggling-bitcoin-miners-are-flocking-to-maple-finances-300m-lending-pool/ https://www.cnbc.com/2022/10/27/bitcoin-miner-core-scientific-warns-it-might-go-bankrupt-stock-plunges.html https://www.bloomberg.com/news/articles/2022-10-25/block-sq-btc-taps-former-argo-technology-chief-hothi-for-bitcoin-mining TIMESTAMPS: 00:00  Start 00:55 Core Scientific 01:21 Intro 04:49 Core Scientific Financials 07:57 Miner capitulation? 10:06 Maple Finance 14:04 Block + Argo 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