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)

There’s A Bitcoin Bar In NYC. Why?

There’s A Bitcoin Bar In NYC. Why?

It’s 2023 and the crypto community is hoping to pull out of its funk this year and put the blowups, bankruptcies and price slumps of the last year in the rear-view mirror.  While some remain hopeful -...

24 Jan 202316min

When Main Street Banks Dabble in Crypto

When Main Street Banks Dabble in Crypto

Like most crypto-adjacent firms, fiat banks that diversified into crypto have struggled during the crypto winter. And this was likely the case even BEFORE crypto exchange FTX declared bankruptcy in No...

23 Jan 202314min

This Week in Crypto - FOMO Returns

This Week in Crypto - FOMO Returns

Is crypto back? That’s one question Bloomberg editors and reporters discuss in another This Week in Crypto episode.  Already, the year is packed with digital asset action. Bitcoin is up 30 percent so ...

20 Jan 202317min

Global Legal Fallout From FTX

Global Legal Fallout From FTX

You’ve probably heard financial regulators refer to crypto as the "Wild West." But, instead of shoot-outs and sheriffs -  in crypto, you can get financial experimentation, hackers and  pretty extreme ...

19 Jan 202319min

How Ryan Salame's Neighbors Got Tangled Up In FTX's Fallout

How Ryan Salame's Neighbors Got Tangled Up In FTX's Fallout

Western Massachusetts is a very different place from the Bahamas, where the FTX crypto exchange had its headquarters. But the small town of Lenox there is feeling the effects of the FTX bankruptcy non...

18 Jan 202316min

Who Owns Your Coins?

Who Owns Your Coins?

It was an unwelcome ruling for about 600,000 Celsius account holders, who are probably wishing they’d read the fine print more closely before investing. Or put more stock in the crypto mantra “not you...

17 Jan 202316min

Team Favorite: SBF's Effective Altruism

Team Favorite: SBF's Effective Altruism

Today, Martin Luther King, Jr. Day is observed in the U.S. So the crypto team wanted to present an episode connected to the idea of service.  The episode, first published last December, focuses on Sam...

16 Jan 202317min

Gemini/Genesis Battle; Your Questions Answered

Gemini/Genesis Battle; Your Questions Answered

Something we say often on the Bloomberg Crypto team is that a week in this asset class can feel like a year. And as we wrap up the second week of 2023, it’s starting to feel maybe more like a decade. ...

13 Jan 202313min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
forklart
i-retten
popradet
stopp-verden
aftenpodden-usa
lydartikler-fra-aftenposten
rss-gukild-johaug
det-store-bildet
fotballpodden-2
dine-penger-pengeradet
nokon-ma-ga
rss-ness
hanna-de-heldige
aftenbla-bla
frokostshowet-pa-p5
rss-penger-polser-og-politikk
e24-podden
rss-utenrikskomiteen-med-bogen-og-grasvik