Bitcoin Gas Flare Mining, With Matt Lohstroh

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 26 November 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Circle and Kraken. For this edition of “Grateful for Bitcoin,” NLW is joined by Matt Lohstroh, cofounder of Giga Energy. Matt and Giga are leaders in the bitcoin gas flare mining space. On this episode, he and NLW discuss the state of the bitcoin mining industry and how it’s changed over the years. Find our guest online: https://twitter.com/lohstroh - Nexo Pro allows you to trade on the spot and futures markets with a 50% discount on fees. You always get the best possible prices from all the available liquidity sources and can earn interest or borrow funds as you wait for your next trade. Get started today on pro.nexo.io. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - Kraken, the secure, trusted digital asset exchange, is our sponsor for today’s show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. You’re covered by industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is "Back To The End" by Strength To Last. Image credit: Nora Carol Photography/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.2	The breakdown is sponsored by nexus.io, Circle, and Cracken, and produced and distributed by CoinDess.
0:23.0	What's been on, guys? It is Saturday, November 26th, and today we are talking Bitcoin
0:27.6	mining as part of the Grateful for Bitcoin series. Before we dive into that, however, if you
0:32.2	are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or
0:35.8	if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to
0:41.4	bit.ly slash breakdown pod. All right, friends, well, I hope you had a great turkey day for those
0:47.0	of you who celebrate Thanksgiving. We're back with another grateful for Bitcoin, and today we are
0:51.1	digging into one of the most critical pieces of Bitcoin infrastructure, which is, of course, mining.
0:56.0	Now, some of this discussion is about the big picture around mining right now, specifically
1:00.8	why difficulty and hash rate are increasing even as prices go down.
1:04.6	But another key part of this conversation is around one of the most interesting and dynamic
1:08.9	areas of Bitcoin mining,
1:13.8	which is mining with natural gas that would otherwise be flared.
1:17.8	My guest is Matt Lostro, the co-founder at Gigga Energy,
1:20.5	which is one of the innovators in the gas flare mining space.
1:23.8	This was a conversation I was super excited to have,
1:26.2	and I'm thrilled to welcome Matt Lostro to the show. All right, Matt, welcome to the
1:28.9	breakdown. How are you doing, sir? Doing well. Thanks for having me. Yeah, no, I'm super excited.
1:33.0	As I was just mentioning to you, I was asking a few trusted friends who they thought would be good
1:37.3	to come talk about Bitcoin and Mining and your name came up a bunch. So I'm really excited to have
	...

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