H4shr8 Crypto Mining Podcast

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, C

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

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 t

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 min

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 LISTE

Today we are joined by Matt Williams, head of derivatives at Luxor Technologies. Matt is an expert on commodities trading and built Luxor’s new hashrate derivative, a product that allows miners to buy and sell hashrate. https://luxor.tech/derivatives https://www.coindesk.com/business/2022/10/10/crypto-services-firm-luxor-to-offer-derivatives-for-bitcoin-miners-to-hedge-risk/ Matt Williams: https://www.linkedin.com/in/matthew-williams-0a1b592b/ Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00  Start 00:25  Intro 01:11 Meet Matt 01:21 Intro 02:42 Hashrate as a commodity 04:04 Defining hashrate as commodity 05:30 Why hedge against hashrate? 08:18 Changing the thinking about hashrate 00:13:25:09 Seller of hashrate example 00:14:26:11 Buyer of hashrate example 00:15:59:23 Creating the index 00:18:36:01 Creating the marketplace 00:21:42:27 Customer requirements and security 00:25:12:13 Technical specifics 00:26:09:27 Regulation future 00:28:37:17 Product future 00:31:01:21 Cycles

We talk about the US semiconductor chip ban, the Rhodium filing, and the Celsius and Core Scientific debt story. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.bloomberg.com/news/articles/2022-10-10/china-chip-stocks-drop-as-biden-tightens-rules-on-us-tech-access https://www.sec.gov/Archives/edgar/data/1236275/000121390022064755/fs42022_silversuntech.htm https://www.wsj.com/articles/crypto-miner-core-scientific-flags-threat-from-celsius-chapter-11-dispute-11666287993 https://www.globenewswire.com/news-release/2022/10/19/2537494/0/en/Riot-Announces-Groun[…]ata-Center-Facility-in-Corsicana-Navarro-County-Texas.html https://www.nbcdfw.com/news/local/concerns-bitcoin-mining-farm-coming-to-north-texas/3100197/ https://compassmining.io/education/september-monthly-performance/

Welcome back to the Mining Pod. Today we are rejoined by Mining Analyst Anthony Power. We talk about his miner performance rankings, debt and dilution and where markets go next. Anthony Power: https://twitter.com/cazenove Will Foxley: https://twitter.com/wsfoxley

We talk about difficulty, hashprice, miners seeking relief from debt, NYDIG laying off 33% of its staff, Luxor Technologies new hashrate derivative and Braiins Stratum v2. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://data.hashrateindex.com/network-data/btc https://www.coindesk.com/business/2022/08/16/bitcoin-miner-stronghold-digital-in-restructuring-negotiations-with-lenders/ https://www.coindesk.com/business/2022/10/07/bitcoin-miner-argo-blockchain-raises-27m-to-ease-liquidity-pressures-shares-plunge-15/ https://compassmining.io/education/argo-blockchain-balance-sheet/ https://www.theblock.co/post/177162/nydig-laid-off-one-third-of-staff-in-september-wsj https://blockworks.co/nydig-raises-720m-for-institutional-bitcoin-fund/ https://hashrateindex.com/blog/luxor-technologies-launches-otc-bitcoin-mining-derivative/ https://twitter.com/BraiinsMining/status/1579822557788004352

Today we are joined by Louis Guthmann, ecosystem developer at Starkware. Starkware is building zero-knowledge proof rollups for multiple chains, including Bitcoin, that promises to dramatically change how Bitcoin can scale without sacrificing security or Bitcoin’s simplicity. In this first episode we go over how starks are different from Lighting, what fees starks would bring to bitcoin and the rationale behind Starkware’s efforts. Louis Guthmann: https://twitter.com/GuthL Will Foxley: https://twitter.com/wsfoxley

Matt Kimmell of CoinShares and I talk about the 12% difficulty increase, Greyscales new mining product, miners raising capital and the latest in Compute North’s chapter 11. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2022/10/06/grayscales-new-venture-aims-to-capture-bear-market-opportunities-in-bitcoin-mining/ https://www.finsmes.com/2022/09/aspen-creek-digital-raises-8m-in-series-a-funding.html https://www.coindesk.com/business/2022/10/06/bitcoin-miner-marathon-invested-313m-in-bankrupt-data-center-compute-north/ https://www.theblock.co/post/175143/greenidge-seeks-to-raise-up-to-22-8-million-in-stock-offer https://compassmining.io/education/miners-face-millions-in-debt-payments-as-revenues-dry-up/ https://data.hashrateindex.com/network-data/btc TIMESTAMPS: 00:00  Start 00:24  Intro 01:49  12% upward difficulty adjustment 06:20  Grayscale new mining product 09:20  Aspen Creek Digital fund raise 13:09  

Today we are joined by Zach Bradford, CEO of Cleanspark. Cleanspark is a publicly listed mining firm which has been leveraging its treasury model to scoop up distressed assets. We talk about treasury management, buying discounted contracts and energy rates. https://cleanspark.com Zach Bradford: https://twitter.com/zachkbradford Will Foxley: https://twitter.com/wsfoxley

Matt Kimmell of CoinShares joins me again to talk about hashprice, difficulty, Celsius mining filing suit against Core Scientific and Rhodium testing public markets. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.theblock.co/post/173475/bitcoin-mining-difficulty-falls-2-14-after-four-consecutive-increases https://www.coindesk.com/business/2022/09/29/bitcoin-miner-rhodium-going-public-through-reverse-merger-with-silversun-technologies https://arcane.no/research/most-public-bitcoin-miners-have-racked-up-losses-in-their-lifetimes https://data.hashrateindex.com/network-data/btc

We sat down again with Mark Rossano of C6 Capital Holdings to talk about energy markets - both international and domestic. We go through PPAs and the crazy California ISO. Mark Rossano: https://twitter.com/markfny Will Foxley: https://twitter.com/wsfoxley

Today we are talking news with Matt Kimmell of CoinSharees including Compute North filing Chapter 11 bankruptcy, Stakefish slashing 25% of its staff and Bitmain lowering ASIC prices by 30%. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2022/09/22/crypto-mining-data-center-provider-compute-north-files-for-bankruptcy-protection/ https://www.coindesk.com/business/2022/09/23/bitcoin-miner-marathon-digital-downgraded-at-btig-on-headwinds-from-compute-norths-bankruptcy/ https://www.coindesk.com/business/2022/09/23/ethereum-merge-vastly-increased-stakefishs-profile-but-25-of-its-employees-are-gone-anyway/ https://www.coindesk.com/business/2022/09/21/bitmain-discounts-bitcoin-mining-machines-in-an-already-depressed-market/ https://data.hashrateindex.com/network-data/btc

Today we are joined by Arcane Research analyst Jaran Mellerud to talk about Arcane’s new report, “How Bitcoin mining can transform the energy industry.” We discuss Bitcoin mining’s novel features, the economics of renewable energy and underrated positive externalities. Summary https://compassmining.io/education/how-bitcoin-mining-can-transform-the-energy-industry-arcane-research/ Full Report https://arcane.no/research/how-bitcoin-mining-can-transform-the-energy-industry-new-report Jaran Mellerud: https://twitter.com/JMellerud Will Foxley: https://twitter.com/wsfoxley

Welcome back to the Mining Pod. Today we are joined by Matt Kimmell of CoinShares to go over this week’s news. We talk about the Ethereum Merge, Poolin issuing IOU tokens and a new report from Chainalysis showing crypto adoption in 2022. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley

In this episode we talk with Ethan Vera from Luxor about the Ethereum 2.0 merge and its impact on proof of work miners. Ethan Vera: https://twitter.com/ethan_vera Will Foxley: https://twitter.com/wsfoxley

Matt Kimmell is a Researcher with Coinshares and in the episode we talk about RIOT’s lawsuit vs GMO, Argo partnering with Intel, and Bitmain’s new low interest rate loan program. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley

Alyse Killeen is the founding Managing Partner of StillMark a Bitcoin VC firm. In this episode we talk about the bear market’s effect on venture capital, balance sheet management, and how VC firms invest in the mining industry. Alyse Killeen:https://twitter.com/alysekilleen Will Foxley: https://twitter.com/wsfoxley