Crypto Miners Test Texas’ Limits

Crypto Miners Test Texas’ Limits

As our colleague David Pan has been reporting, Bitcoin miners have been having a very rough time of it.

To paraphrase one of his recent stories, falling Bitcoin prices and rising energy costs “led to combined second-quarter losses of more than $1 billion for the top three US publicly traded players — Core Scientific, Marathon Digital and Riot Blockchain.” Yikes.

This crunch has led to miners trying to raise cash by selling off their emergency stockpiles of Bitcoin - into the teeth of a down market.

At the same time, miners continue to flock to places like Texas - and not everyone is a fan of these relatively recent arrivals. Texas isn’t known for having the world’s most stable power grid, so miners and state officials have sought to pilot ways to address concerns about energy consumption.

Bloomberg reporters David Pan and Michael Smith join this episode for more on how the miners are holding up.

See omnystudio.com/listener for privacy information.

Episoder(224)

Gender Fluidity In The Metaverse

Gender Fluidity In The Metaverse

Experimenting with who you are online, especially if those identities are really different from who you present to the analogue world, is not a new concept. Neal Stephenson famously coined the phrase ...

6 Jul 202219min

Does the Senate Reg Bill Scratch The Itch?

Does the Senate Reg Bill Scratch The Itch?

In June, Senators Kirsten Gillibrand and Cynthia Lummis introduced a sweeping Senate bill that would regulate crypto assets. Influential crypto insiders have hailed the proposal as a great starting po...

5 Jul 202219min

No US Spot Bitcoin ETF For You

No US Spot Bitcoin ETF For You

One of the most closely-watched fights in crypto might sound a little obscure, but it’s really important. It pits a company called Grayscale Investments against the US Securities and Exchange Commissi...

1 Jul 202216min

Crypto Money Goes to Washington

Crypto Money Goes to Washington

It might feel like there’s always some kind of election happening in the US - and that’s because there is. State and local elections can happen every year, while ​​Congressional mIdterms occur every o...

30 Jun 202217min

Won't Anyone Think of the UK Crypto Investor?

Won't Anyone Think of the UK Crypto Investor?

Rishi Sunak, one of the most senior people in the UK government, this year announced he wanted to establish the country as a global hub for crypto . He’s got some catching up to do: the competition be...

29 Jun 202213min

Why Bitcoin Trades Like A Stock

Why Bitcoin Trades Like A Stock

One of the features that early crypto investors would talk about is something called correlation - specifically, the lack of it. Correlation refers to the relationship between different financial asse...

28 Jun 202215min

What’s Up With Crypto’s VC?

What’s Up With Crypto’s VC?

California’s Silicon Valley is both a place and a philosophy. It’s hailed as *the* place for US tech startups to get funding and attract talent. VCs, or venture capitalists, are integral to this mytho...

27 Jun 202214min

Crypto Joins The War in Ukraine

Crypto Joins The War in Ukraine

Prior to the Russian invasion of Ukraine in February, the Ukrainian government and the country’s crypto community would not have been described as allies. There was skepticism, distrust and even a few...

24 Jun 202215min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
aftenpodden-usa
forklart
lydartikler-fra-aftenposten
popradet
stopp-verden
fotballpodden-2
dine-penger-pengeradet
det-store-bildet
rss-gukild-johaug
i-retten
nokon-ma-ga
hanna-de-heldige
e24-podden
rss-ness
aftenbla-bla
rss-dannet-uten-piano
frokostshowet-pa-p5
grasoner-den-nye-kalde-krigen