Nick Hansen, cofounder and CEO of Luxor Technologies, talks about the Bitcoin mining industry, why some miners are struggling while others are succeeding, and the next steps for the industry.
Show highlights:
- the current state of the Bitcoin mining industry
- why miners have the lowest margin environment ever
- why there are so many mining rigs sitting latent
- how to calculate the profitability of mining cryptocurrency
- why miners are not moving to other countries for lower energy prices
- what the impact of a Core Scientific bankruptcy would be
- whether finance pools to aid struggling miners are helpful
- why some miners are succeeding in this environment
- whether Bitcoin miners can adopt renewable resources and help with the transition to green energy
- how the mining industry is going to change in the following years
Take the Unchained Podcast survey for 2022!
Unchained is doing its annual survey. Tell us how you think we’re doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts!
Thank you to our sponsors!
Crypto.com Ava Labs DeFi SaverNick
Episode links
Troubled miners:
- Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers
- A Huge Glut of Bitcoin Mining Rigs Is Sitting Unused in Boxes
- Bitcoin Miner Iris Energy Says Some Machines Aren’t Covering Financing Costs
- Bitcoin Miner Argo Blockchain Fears Negative Cash Flow as $27M Raise Fails
- Bitcoin Mining Hosting Company Compute North filed for Chapter 11 Bankruptcy Protection
Miners currently weathering the storm:
- Bitcoin Miner CleanSpark Spends Millions on Equipment as Others Struggle Amid Market Conditions
- Bitcoin Miner Stronghold Digital Completes Debt Restructuring
- Digihost Bucks Bearish Trend Among Bitcoin Miners, Remains Cash-Flow Positive
- Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October
