MI142: Now Everyone Can Mine Bitcoin w/ Whit Gibbs
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 593 Ratings
🗓️ 15 February 2022
⏱️ 51 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:02.4 | Well, so I'm a big believer that the accumulation of hash rate within your borders is a matter of national security. |
| 0:08.7 | And whether, I mean, I don't know if Putin actually said that there's an advantage or if this was a headline that people were here to put out. |
| 0:14.8 | But we have a lot of mining in Siberia. |
| 0:17.9 | And it is one of our best ran operations. |
| 0:20.3 | I mean, they've got cheap, plentiful hydro. |
| 0:22.5 | The weather is perfect for it. I mean, the climate is beautiful for mining. It's nice and cool |
| 0:27.1 | for the majority of the year. On today's episode, I sit down to chat with Witt Gipps. Witt is the CEO and co-founder of Compass Mining. In under two years, |
| 0:41.3 | Compass has grown to be one of the world's largest providers of hardware sales and hosting space |
| 0:46.6 | for Bitcoin miners. Compass is on a mission to democratize Bitcoin mining, and they are constantly |
| 0:52.7 | refining their product offerings to give everyone |
| 0:55.3 | the ability to mine Bitcoin. During our conversation, we chat about what Bitcoin mining is, |
| 1:01.1 | why someone might want to mine Bitcoin rather than just buying the asset, some of the exciting |
| 1:06.0 | things happening in the Bitcoin mining space in Texas and El Salvador? What led Witt to start Compass mining, |
| 1:13.0 | what the economics are of owning a Bitcoin miner through Compass, the risks of mining Bitcoin, |
| 1:18.5 | and much, much more. I really wanted to bring Witt onto the podcast to talk about the ends |
| 1:23.4 | and outs of Bitcoin mining to get a better understanding of it. I find this topic so fascinating |
| 1:28.7 | and think that if Bitcoin continues to appreciate and gain adoption, then Bitcoin mining |
| 1:34.2 | might prove to be a very profitable endeavor. I became even more interested when I found out that |
| 1:39.6 | Compass allows anyone to mine Bitcoin at one of their hosting facilities. Plus, Compass offers financing |
| 1:46.1 | so you don't have to put all of your money down up front to purchase a miner. I hope you |
| 1:50.8 | enjoy this conversation as much as I did with Witt Gibbs. You're listening to Millennial Investing |
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