H4shr8 Crypto Mining Podcast

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

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 0

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

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 pro

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 h

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/3

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/3Ceh

Today we are joined by Anthony Power to discuss his March mining updates, strengths and weaknesses of miners and a special note on Core Scientific, who recently appointed a new president. https://compassmining.io/education/mining-stock-roundup-march-2022-monthly-bitcoin-mining-numbers/ Anthony Power: https://twitter.com/cazenove Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:56 Separating miners into divisions 04:11 Hive merger 10:03 Iris hashrate 11:26 Utilization rate 15:18 3 classes of miners 19:55 immersion overclocking 22:16 New miners on the scene 28:31 Core Scientific 33:35 Balance sheet management 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

Today we are joined by Jamie Leverton and Asher Genoot of Hut 8 and US BTC to discuss the merger of the two Bitcoin mining firms. We talk about US BTC’s operations, its strategic purchases in 2022 and merging the two firm’s assets. https://hut8.io/ https://usbitcoin.com/ Jamie Leverton: https://twitter.com/jaimeleverton Asher Genoot: https://twitter.com/ashergenoot Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 02:10 Merger overview 05:07 USBTC assets & experience 09:12 Bear market asset acquisitions 15:05 Hut 8 BTC treasury & Canada 19:56 Integrating business ops 24:06 Mining sites as data centers 26:35 Hashrate predictions 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

Today we discuss Intel pausing ASIC manufacturing due to inventory glut, Gensler doing his best impression of a piñata in Congress & Coinbase considers moving to Bermuda. Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/tech/2023/04/21/solanas-annual-carbon-footprint-equals-8-flights-from-london-to-new-york/ https://www.coindesk.com/business/2023/04/20/crypto-exchange-coinbase-receives-license-to-operate-in-bermuda/ https://www.coindesk.com/business/2023/04/18/bitcoin-financial-services-firm-unchained-capital-raises-60m/ https://twitter.com/sassal0x/status/1648338351832064003 https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:14 Intel pauses ASIC manufacturing 03:36 Solana ESG nonsense 05:35 Coinbase Bermuda register 09:01 Gensler in the hot seat 14:54 Unchained raises money 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/3fN

Today we are joined by Clara Medalie of Kaiko Research to talk about Bitcoin markets. We discuss market depth post-FTX, what a healthy Bitcoin marketplace looks like and how miners can influence price action. https://www.kaiko.com/pages/kaiko-research Claire Medalie: https://twitter.com/clara_medalie Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:58 BTC market structure 03:41 Market maker volume 05:22 Why makers aren't filling the gap 07:32 Low liquidity, higher volatility 09:06 Number go up? 10:25 Historical comparison 12:06 Binance order book 14:29 Wash trades 15:47 Miner selling BTC 17:43 Market selling 10k BTC 19:55 Healthy market structure 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 http

Today we are covering Bitcoin price breaking $30k, Ontario & Sweden Energy Rates & the Bitdeer SPAC not going so well. Will Foxley: https://twitter.com/wsfoxley STORIES https://dune.com/queries/2008613/3324931 https://www.coindesk.com/business/2023/04/14/bitcoin-miner-bitdeer-stock-slumps-nearly-30-at-trading-debut/ https://toronto.ctvnews.ca/ontario-introduces-new-ultra-low-overnight-hydro-pricing-1.6350650 https://www.coindesk.com/policy/2023/04/14/sweden-drives-final-nail-into-its-bitcoin-mining-industry-with-tax-hike/ https://mempool.space/mining TIMESTAMPS: 00:00 Start 04:02 1M Ordinals 04:42 Ontario & Sweden Energy Rates 08:07 Bitdeer SPAC 11:01 ETH hard fork 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/3

Today we are joined by Matt Lousteau of Luxor Technologies to discuss their newest firmware, LuxOS. We discuss the reason for making the firmware, its benefits and options for onboarding to the firmware. https://luxor.tech/firmware Matt Lousteau: https://twitter.com/tdr_mlousteau Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:36 Mining pool configurations 05:11 Luxor as a full stack solution 06:45 Firmware counterparty risk 08:06 Functions of 3rd party firmware 11:13 Future Luxor tech stack 12:22 Hashrate splitting 13:55 LuxOS fees 15:39 When Whatsminer? 16:51 Any tech problems with Whatsminer? 20:13 Who is the customer? 21:15 Electricity curtailment applications 23:38 Antminer problems 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/3rmb7U

In this week’s news roundup, we talk about the Bitcoin whitepaper begin hidden deep in MocOS, Foundry ending its free services and Paxful shutting down. Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/tech/2023/04/06/hidden-inside-macos-the-bitcoin-whitepaper https://www.bloomberg.com/news/articles/2023-04-06/dcg-s-bitcoin-mining-firm-foundry-to-stop-offering-free-services https://www.coindesk.com/business/2023/04/04/peer-to-peer-bitcoin-exchange-paxful-to-suspend-operations https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:28 MacOS Bitcoin whitepaper 02:48 Foundry new fee 04:29 Paxful shuts down 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 wee

Today we are joined by Marko Tarman of Nicehash. We discuss how it operates, solo miners finding blocks on Nicehash and why operators might want to sell hashrate into a marketplace. https://www.nicehash.com Marko Tarman: https://twitter.com/MarkoTarman Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:17 Single block winner 03:55 Cost to rent hashrate? 05:27 History of Nicehash 06:38 Effect of ETH merge 08:27 How it works? 13:07 Who's buying? 15:31 MEV on Nicehash? 16:50 Who are the sellers? 18:20 Fluctuations of hash supply recently? 19:31 Profits over spot price? 22:31 5-10% profit for miners 25:47 Competitors? 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, Co

Today we are joined by Rete Browning & Isaac Fithian from Cathedra to discuss their recent underclocking study, what it means for efficiency, profitability and rig lifespan. https://twitter.com/cathedrabitcoin/status/1624086205485707264 https://cathedra.com Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:32 Underclocking experiment 07:51 Testing the underclocking 13:23 Frequency vs Voltage 19:27 The role of temperature 24:27 What is Catherdra doing with the results? 29:21 Software for underclocking? 32:05 Implications? 35:10 Importance of real world testing 36:21 Perception of machine lifespan 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 s

Today we discuss Foreman’s product stack, how integrating automation and intelligence into mining increases hashrate and how middleware providers are thinking about energy markets. https://foreman.mn/ Will Foxley: https://twitter.com/wsfoxley SPONSOR: https://foundryacademy.com TIMESTAMPS: 00:00 Start 01:24 What is Foreman? 02:49 How to use it? 05:44 Monitoring your whole ecosystem 10:13 Problems pulling data 15:01 Scaling your miner count 19:38 Quick remote diagnostics 22:14 Balancing the electrical grid with miners 32:59 What's Foreman working on? 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 Anchor https://bit.ly/3rmb7UF 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 t

In this week’s news roundup, we talk about the BlockFi Hindenburg Report, the BitDeer SPAC, Greenpeace “change the code” campaign (LOL), and Bankless Bros contemplate war…. seriously…. you can’t make this stuff up. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.theblock.co/post/222314/blockfi-sells-physical-mining-assets-amid-bankruptcy https://www.sec.gov/Archives/edgar/data/1853084/000110465923035915/tm2135137-55_prer14a.htm https://www.coindesk.com/business/2023/03/23/jack-dorseys-block-tumbles-17-after-short-seller-hindenburgs-report/ https://twitter.com/wsfoxley/status/1639007316371709959 https://twitter.com/pledditor/status/1639124930720563201 https://mempool.space/mining TIMESTAMPS: 00:00 Start 01:07 Hindenburg Block Report 04:10 BlockFi sells rigs 05:48 Bitdeer 07:24 Greenpeace nonsense 10:51 Bankless bros & war

Today on the show we are joined by Erick Hersman, co-founder of Gridless, a Bitcoin mining company building mini-mines on stranded energy sites in Africa. We dig into micro-grid economics, mining operations in East Africa and financing continued expansion. https://gridlesscompute.com https://twitter.com/GridlessCompute Erik Hersman: https://twitter.com/whiteafrican Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:42 Mini grid economics 04:28 Setup process 07:33 Shipping hardware in East Africa 09:29 Corruption in the supply lines 10:16 Jobs 11:58 Local building regulations 15:00 Mini grid electricity costs 18:13 Renewable energy sources 19:47 Unique challenges 22:45 Geographic distribution of sites 25:08 Security 26:06 Aspirations 28:36 Bitcoin awareness locally 31:22 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

Today we discuss Marathon Digital’s playbook including its relationship with Applied Digital after the Compute North bankruptcy, movement into the UAE, S19 XP purchases and increasing mining efficiency under its hosted model. Thanks to Amanda Cavaleri for her help in making these shows possible. https://marathondh.com/ https://twitter.com/MarathonDH Fred Thiel: https://twitter.com/fgthiel Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:26 Current business strategy 08:28 The hosting model 12:31 Mining in the UAE 16:00 Energy sources in UAE 17:31 Antminer S19XP upgrades 19:47 Immersion mining 23:25 Maintaining sites 25:20 USBTC & Hut 8 26:40 Partnering behind the meter 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://b