Welcome back to the show! A few things to announce: The show is now independent. If you'd like to reach me, email william@blockspace.media. Second, we now have sponsors! Give our sponsors some love and reach out if you are interested in sponsoring! Lastly, we are giving away free hashrate to celebrate the another season of the podcast. Subscribe to our email list to be entered! https://theminingpod.substack.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices...
Sep 19, 2023•1 min
Today we are joined by Alen Makhmetov a miner in Kazakhstan to talk about the realities of operating in that country. Alen Makhmetov: https://twitter.com/alenmakhmetov 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 00:48 Alen profile 02:49 Mining i...
Jul 22, 2023•32 min
Today we are joined by Anthony Power to go over June’s monthly mining numbers. https://compassmining.io/education/bitcoin-mining-stock-roundup-june-monthly-numbers/ Anthony Power: https://twitter.com/cazenove Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00:00 Start 00:02:40 Mining Metrics 00:04:40 Texas Energy Challenges 00:05:54 Full CP Program Benefits 00:07:35 Mining Stock Surge 00:09:09 Market Cap Disparities 00:10:05 Clean Spark & Cipher Momentum 00:11:56 Preparing for the H...
Jul 20, 2023•50 min
Today we are joined by James McAvity, CEO of Cormint about their new yield product, immersion, and the realities of mining in Texas. https://cormint.com James: https://twitter.com/jamesmcavity Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:12 James background 02:43 Cormint background 05:07 Why immersion? 06:44 Balance Sheet 08:47 Yield on BTC 10:47 Yield product details 13:38 Wind power + debt 16:56 Why not more traditional capital raise? 19:26 Ordinal war bond 21:02 Commun...
Jul 18, 2023•39 min
Today we are talking about the hashrate and how it don’t give a f^#$, Binance laying off 1000 people and XRP gets some news in it’s case. https://mempool.space/mining https://www.coindesk.com/business/2023/07/14/binance-cut-1000-workers-in-recent-weeks-wsj https://www.coindesk.com/consensus-magazine/2023/07/13/ripple-labs-ruling-throws-us-crypto-token-regulation-into-disarray/ Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:01...
Jul 15, 2023•10 min
Today we are joined by Karim Helmy, an independent researcher. Karim walks us through his novel use of nonce analysis to study the ASIC topography of the Bitcoin network and energy footprint. https://twitter.com/karimhelpme/status/1668592283871244288 https://coinmetrics.io/special-insights/bitcoin-nonce-analysis Karim Helmy: https://twitter.com/karimhelpme Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:47 What is nonce analysis? 03:19 Karim's nonce research 06:29 Why aren't...
Jul 11, 2023•26 min
Today we are talking about the miners pivoting to AI and what’s up with Bored Apes? Listener Survey https://docs.google.com/forms/d/e/1FAIpQLSdvmgIN36Uz8Xul73lNiLADM0vyUxHCuy5WKFDsgI1qiTznuw/viewform https://www.coindesk.com/business/2023/07/07/bitcoin-mining-is-a-game-of-survival-consolidation-and-potential-ai-diversification-bernstein/ https://www.coindesk.com/business/2023/06/30/applied-digital-stock-surges-12-after-announcing-its-third-ai-deal/ https://archive.ph/226PQ https://www.coindesk.c...
Jul 08, 2023•18 min
Today we are joined by Blake King, Power Markets Engineer at Galaxy Digital. We discuss how ERCOT works, what signals energy traders look for and how battery and Bitcoin mining loads interact on the grid. Blake King: https://twitter.com/hhornblower95 Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00:00:00 Start 00:01:38:17 Hot in Texas 00:03:55:03 ERCOT 00:08:21:01 Demand calculations 00:10:44:29 What signals are miners looking at 00:14:19:17 Renewable issues & day ahead costs 00:1...
Jul 04, 2023•31 min
Today we are joined by Frank Holmes and Aydin Kilic of Hive Blockchain to discuss their recent ASIC acquisitions and jump into AI processing. https://hiveblockchain.com Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 01:11 Pivot to AI 02:34 Ordinals 04:09 Balance sheet 06:03 ASIC ROI 11:18 6 exahash by year end 14:46 Uncommon sats 16:10 Greenhouse project 18:52 GPUs 21:16 Hive cloud 26:17 Super micro servers 28:50 AI profitability vs mining MINE Start mining your own bitcoins w...
Jul 02, 2023•32 min•Ep. 170
Today we are joined by Jason Goodman Co-Founder of Bathhouse a thermal bath & spa facility in New York that utilizes Bitcoin mining to heat their pools. We discuss infrastructure, energy costs and public reaction to learning the source of their heat. Instagram : https://instagram.com/bathhouse Location : 103 N 10th St, Brooklyn, NY 11249 Booking : https://na.spatime.com/abh11249/73814252/home Jason Goodman: https://www.linkedin.com/in/jason-goodman-422780192 Will Foxley: https://twitter.com/...
Jun 27, 2023•34 min•Ep. 169
Today we are joined by Justin Orkney, Mining. Commercial Director at Standard Power. We discuss building a one gigawatt site in Ohio, nuclear power, and the future of demand response in North America. https://twitter.com/StandardPower Justin Orkney: https://twitter.com/jorkney5 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...
Jun 24, 2023•33 min•Ep. 168
Today we are joined by Anthony Power to go over May’s monthly mining numbers. We discuss standouts like Marathon Digital and Iris Energy, energy curtailment revenues, and predictions for the mining industry. https://compassmining.io/education/bitcoin-mining-stock-roundup-may-monthly-numbers/ Anthony Power: https://twitter.com/cazenove Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:26 Cost of BTC production 04:15 Energy contracts 06:35 Self mining updates 16:39 Terrawolf deb...
Jun 22, 2023•1 hr•Ep. 168
Today we are joined by DMG’s Sheldon Bennet & Adrian Glover to talk about Ordinals. We discuss DMG’s mining profile, their carbon-neutral pool Terra, Inscriptions and uncommon satoshi mining. https://dmgblockchain.com 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 TIM...
Jun 20, 2023•47 min•Ep. 167
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...
Jun 18, 2023•29 min•Ep. 167
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 m...
Jun 13, 2023•43 min•Ep. 166
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-comp...
Jun 10, 2023•18 min•Ep. 166
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 Li...
Jun 06, 2023•28 min•Ep. 165
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...
Jun 03, 2023•13 min•Ep. 164
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 hi...
May 30, 2023•38 min•Ep. 163
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 ...
May 26, 2023•58 min•Ep. 162
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...
May 23, 2023•44 min•Ep. 161
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 4...
May 16, 2023•1 hr 10 min•Ep. 160
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-digi...
May 13, 2023•20 min•Ep. 159
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:...
May 10, 2023•38 min•Ep. 158
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 Be...
Apr 25, 2023•35 min•Ep. 158
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/bitco...
Apr 22, 2023•18 min•Ep. 157
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 ...
Apr 18, 2023•22 min•Ep. 157
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-bit...
Apr 15, 2023•14 min•Ep. 156
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...
Apr 11, 2023•30 min•Ep. 156
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-oper...
Apr 08, 2023•7 min•Ep. 155
