Gemini vs. Genesis vs. SEC the bankruptcy and securities showdown! Bitfarms possibly defaulting on a BlockFi loan. Alkimiya Raises $7M. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2023/01/13/bitcoin-miner-bitfarms-looks-to-amend-blockfi-loan-warns-of-default/ https://www.cnbc.com/2023/01/12/sec-charges-genesis-and-gemini-with-selling-unregistered-securities.html https://www.coindesk.com/business/2023/01/12/a...
Jan 14, 2023•18 min•Ep. 135
Today we are joined by Colin Harper and Jaran Mellerud of Hashrate Index to talk about their mega 2022 report. We go over machine prices, state-by-state energy comparisons, mergers and bankruptcies and hashrate projections for next year. Hashrate Index: https://twitter.com/hashrateindex Colin Harper: https://twitter.com/AsILayHodling Jaran Mellerud: https://twitter.com/JMellerud Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:26 Intro 01:33 Top thoughts for '22 04:38 '22 vs ...
Jan 11, 2023•51 min•Ep. 134
Silvergate Bank hits some rough water and lays off staff, Marathon pays off revolving credit line, Core Scientific parts ways with Celsius, and Argo restructures its debt. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2023/01/05/silvergate-cuts-40-jobs-writes-off-diem-asset-acquisition/ https://www.bnnbloomberg.ca/crypto-miner-core-scientific-to-shut-37-000-celsius-rigs-1.1865410 https://www.coindesk.com/busin...
Jan 07, 2023•17 min•Ep. 133
Today we are joined by Doug Lewin, President of Stoic Energy. We discuss the recent winter snap in Texas, what ERCOT is doing to fix the energy grid and how Bitcoin miners and other flexible loads fit into the Texas market. https://douglewin.substack.com/p/2022-cold-snap-shows-resistance-is https://linktr.ee/douglewin Doug’s Podcast: https://www.renewableenergyworld.com/the-texas-power-podcast/ Doug Lewin: https://twitter.com/douglewinenergy Will Foxley: https://twitter.com/wsfoxley SPONSOR http...
Jan 03, 2023•48 min•Ep. 132
Today we are joined by Phil Jankowski, a state reporter for Dallas News, to discuss Texas’ energy market problem. We talk about the new market rules lawmakers are debating, the outlook for Texas this winter and how Bitcoin miners fit into the picture. Phil Jankowski: https://twitter.com/philjankowski 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 Mini...
Dec 27, 2022•45 min
On today’s show, we are joined by Paul Sztorc and Austin Alexander of Layer 2 Labs, a new Bitcoin company that raised $3 million to bring sidechains to the Bitcoin network. https://layer2labs.com/ https://twitter.com/LayerTwoLabs Paul Sztorci: https://twitter.com/Truthcoin 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 progra...
Dec 23, 2022•46 min•Ep. 131
Watch as we go over the top highlights from Bitcoin mining's 2022 with the Coin Metrics team! 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 miner...
Dec 22, 2022•50 min•Ep. 130
Today we are joined by Sue Ennis, VP of Corp Development at Hut 8. We discuss Hut 8’s conservative growth strategy, building out alternative lines of revenue and hodling an 8,000+ Bitcoin stack. Sue Ennis: https://twitter.com/bigsuey 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 identi...
Dec 20, 2022•31 min•Ep. 129
Argo’s fat finger bankruptcy announcement retracted, Core Scientific gets a fresh cash injection and Bitmain releases new firmware but does it really make your miner more profitable? Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.theblock.co/post/194747/bitcoin-mining-report-argo-blockchain-tumbles-38-after-bankruptcy-gaffe https://bitcoinmagazine.com/business/core-scientific-lender-72-million-bailout https://twitter.com/BITMAINtech...
Dec 17, 2022•8 min•Ep. 129
In part 1 of this two part episode, we are joined by Anthony Power to discuss November monthly mining updates. Anthony Power: https://twitter.com/cazenove 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 explor...
Dec 13, 2022•42 min•Ep. 128
Argo may be filing for bankruptcy in the coming weeks. The Block CEO steps down amid news of undisclosed involvement with FTX. Riot causes a fuss by announcing a switch to their mining pool. Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.bloomberg.com/news/articles/2022-12-09/bitcoin-miner-argo-s-arb-shares-suspended-while-revenue-declines https://www.axios.com/2022/12/09/bankman-fried-funded-crypto-news-site-block https://www.coind...
Dec 10, 2022•20 min•Ep. 128
Today we are joined by Ryan Condron, CEO of Titan Pool. We talk about revenue strategies for small mining pools, building a trustless hashrate marketplace and why every large miner should run their own pool. https://titan.io Ryan Condrone: https://twitter.com/ryankcondron Will Foxley: https://twitter.com/wsfoxley TIMESTAMPS: 00:00 Start 00:52 Intro 01:33 Titan Pool 03:17 Titan Pool growth strategy 05:22 Hashrate product (lumerin?) 09:06 How enforceable are smart contracts w/ hashrate? 12:07 Rece...
Dec 06, 2022•44 min•Ep. 127
News Roundup: Blockfi, Last Hodl Standing and Manitoba’s Mining Moratorium Matt Kimmell: https://twitter.com/MatthewKimmell Will Foxley: https://twitter.com/wsfoxley STORIES https://www.coindesk.com/business/2022/12/02/bitcoin-miners-ftx-contagion-exposure-may-amplify-industry-pain/?utm_medium=referral&utm_source=rss&utm_campaign=headlines https://www.getrevue.co/profile/BlocksBridge/issues/miner-weekly-a-tale-of-two-mining-hodlers-1472954 https://www.coindesk.com/policy/2022/12/01/canad...
Dec 03, 2022•22 min•Ep. 127
Today we are rejoined by Zach Bradford of Cleanspark to talk about market sentiment, mining economics, ASIC prices and what to expect from the numerous Chapter 11 filings. https://cleanspark.com Zach Bradford: https://twitter.com/zachkbradford 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 - f...
Dec 01, 2022•38 min•Ep. 126
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 ...
Nov 29, 2022•43 min•Ep. 126
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-vet...
Nov 24, 2022•53 min•Ep. 125
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 of...
Nov 22, 2022•57 min•Ep. 124
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 & w...
Nov 15, 2022•34 min•Ep. 123
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...
Nov 12, 2022•17 min•Ep. 122
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 Deal...
Nov 08, 2022•44 min•Ep. 121
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-bitcoi...
Nov 05, 2022•12 min•Ep. 120
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 ...
Nov 02, 2022•43 min•Ep. 119
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 mark...
Nov 01, 2022•39 min•Ep. 118
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/...
Oct 29, 2022•16 min•Ep. 117
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...
Oct 25, 2022•35 min•Ep. 117
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-cel...
Oct 22, 2022•17 min•Ep. 116
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 🎥 TIMESTAMPS: 00:00 Start 00:22 Intro 02:06 Most profitable public miner? 07:11 Mid-tier miners 13:57 Loan servicing 22:38 Margins 25:19 What miners are at risk? 30:11 Debit vs revenue valuation 34:26 6 mo. prediction 43:57 Hashrate pr...
Oct 18, 2022•46 min•Ep. 116
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-...
Oct 15, 2022•19 min•Ep. 115
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://t...
Oct 11, 2022•38 min•Ep. 114
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....
Oct 08, 2022•22 min•Ep. 113
