Bitcoin Miners Going Bankrupt? Here's How Crypto Winter Is Impacting the Industry - Ep. 415

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 4 November 2022

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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 Saver Nick Twitter Luxor Technologies 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 Green energy:Solar-Powered Bitcoin Miner Aspen Creek Raises $8M Despite Bear Market Finance Pools: DeFi Platform Maple Finance Aims to Help Struggling Bitcoin Miners With $300M Lending Pool Binance Pool To Support BTC Mining Industry With a $500M Miner Lending Project Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hey, everyone, just a quick note before we begin.
0:03.5	Unchained is doing its annual survey.
0:05.9	Head to surveymonkey.com slash R slash Unchained 2022,
0:10.3	to tell us how you think we're doing and how we could improve,
0:12.9	whether it be on the podcast in the newsletter or in our premium offering.
0:16.8	Looking forward to hearing your thoughts.
0:18.5	Again, the link is surveymonkey.com slash R slash Unchained 2022.
0:24.3	And you can also check out the show notes for the link and now on to the show.
0:30.9	Hi, everyone. Welcome to Unchained, your no-hi resource for all things crypto.
0:37.1	I'm your host, Laura Shin, other of the cryptopians.
0:40.7	I started covering crypto seven years ago and as a senior editor at Forbes,
0:44.4	was the first mainstream media reporter to cover cryptocurrency full-time.
0:48.0	This is the November 4th 2022 episode of Unchained.
0:51.6	Want to know what you missed in the last 24 hours in crypto?
0:54.5	Unchained's daily news bits are now on YouTube and TikTok,
0:57.5	with biggest headlines in 60 seconds or less.
1:00.9	DeFi Saver is an all-in-one management app with unique automation options for top-learning
1:05.6	protocols such as Avae, Maker, Liquity, and Compound. Check them out on Ethereum,
1:10.4	Mainnet, Arbitrum, and Optimism.
1:13.5	Avalanche was built to provide a robust Web3 infrastructure with flexible tools,
1:18.3	so you can build anything you want, any way you want.
1:21.0	Visit avox.network to discover how you can.
	...

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