Where Bitcoin Mining Goes From Here

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 8 January 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this Long Reads Sunday, NLW reads: The worst of Bitcoin mining in 2022 by Zack Voell What Will It Take for Bitcoin Mining Companies to Survive in 2023? By George Kaloudis Bitcoin Mining: A Positive or Negative Indicator for the Future of Crypto? By Daniel Kuhn Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: Yuichiro Chino/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.
0:15.3	The breakdown is produced and distributed by CoinDes.
0:20.5	What's going on, guys?
0:21.6	It is Sunday, January 8th, and that means it's time for Long Reads Sunday, the first of
0:27.0	2023.
0:28.8	Before we get into that, however, if you are enjoying the breakdown, please go subscribe
0:32.3	to it, give it a rating, give it a review, or if you want to dive deeper in the conversation,
0:36.3	come join us on the Breakers Discord.
0:38.5	You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:42.3	All right, friendos, well today we are doing a three-part read from the world of Bitcoin mining.
0:47.8	As we discussed a bit in yesterday's weekly recap, Bitcoin miners have had a rough go of it.
0:52.8	We've seen major players like Compute North and more
0:54.8	recently Core Scientific, the largest miner in the world, go into bankruptcy, and others like
0:59.4	Argo have only survived because of 11th hour bailouts. The sands are shifting underneath the
1:04.8	entire industry, and today we are reading not one, not two, but three pieces discussing exactly
1:09.6	that. We're starting
1:11.1	appropriately with a piece called the worst of Bitcoin mining in 2022, which was written by
1:16.3	Zach Vol and published on the Compass Mining blog. Zach writes, even the most casual observer
1:22.0	knows that crypto had a bad year. The reason for the industries Tumbled could fill an entire
1:26.5	article of their own,
1:32.1	but the Bitcoin mining sector had a particularly rough year, and this article is dedicated to cataloging all of the bad things that miners suffered. From bankruptcies and resignations to
	...

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