4.8 • 786 Ratings
🗓️ 8 January 2023
⏱️ 16 minutes
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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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