The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
https://twitter.com/cazenove_uk/status/1487947148998160386?s=21
https://cointelegraph.com/news/bitcoin-miners-believe-global-hash-rate-to-grow-aggressively
PW highlighting Arb’s green credentials and Texas needing flexible power demands.
https://twitter.com/documentingbtc/status/1487833106677739532?s=21
So hopefully this pro BTC mining argument will continue to be in the news until the Elections in November.
https://www.newsweek.com/bitcoin-mining-americas-most-misunderstood-industry-opinion-1669892
Interesting article again highlighting how BTC mining can assist the viability of renewable power operators by providing flexible demand. Think US politicians especially in Texas are starting to understand this. Arb site in Texas ticks all the right boxes , next few months are going to be very interesting.
https://decrypt.co/91432/texas-governor-greg-abbott-inviting-bitcoin-miners-stabilize-electrical-grid
Even better. Think the ability to use wasted green power is going to become more and more important.
https://bitrss.com/news/238124/don-huffines-if-elected-will-make-bitcoin-legal-tender
Think Greg Abbot as current Governor is favorite to win both Rep nomination and be re-elected in November but at least he’s pro BTC/mining as well.
https://www.coindesk.com/policy/2022/01/24/biden-administration-to-release-executive-order-on-crypto-as-early-as-february-report/
Sooner the better.
https://www.coindesk.com/business/2022/01/26/valkyrie-applies-to-list-bitcoin-miners-etf-on-nasdaq/
https://www.livemint.com/market/cryptocurrency/bitcoins-price-tumble-tests-resilience-of-crypto-miners-11643129321764.html
This is the article - reads well for Argo
Bloomberg headline (can’t get into the actual article) commenting that with BTC fall 23% of miners can’t cover their electricity costs. Puts Argo with the best mining margins and with the new cheap green electricity in Texas in a great position.
https://finance.yahoo.com/news/president-biden-plans-executive-order-111927265.html
Should help reduce uncertainty.
Whole Tech sector is down and crypto obviously suffers more volatility - Eth is down more than BTC. When tech mkts recover so should BTC.
If you believe in crypto then for me Arb is going to recover strongly over the coming months.
Having listened to the US sub committee yesterday being an efficient flexible user of green power where we will often be using otherwise wasted power ticked all the boxes.
Oversight committee all pretty positive so far.
Some good speakers and seems to be more about how US can take advantage of the technology rather than attacking it. Given what’s being said so far big winners are going to be the miners who
Use green energy
Look to improve mining efficiency- immersion cooling already discussed
Operate from a remote location allowing flexible power demand to help the power infrastructure
If only I was invested in a company like that !
Great points from 2nd speaker - basically pointing out that without mining operations new renewable power facilities may not be viable as the power demand is not constant enough. By BTC mining being flexible it can mean renewable power generators revenue improved by constant demand. BTC mining encourages the growth of new renewable power facilities.
Think it would be good thing.
Get rid of more competitors and how much easier for US to support BTC mining if both Russia and China not involved.
Looks like Russia would still allow funds held overseas to deal in crypto so hopefully wouldn’t have same impact on BTC.
https://fortune.com/2022/01/20/mining-bitcoin-crypto-ban-russia/
Think everyone should agree to just allow mining in Texas ( and maybe Canada).
https://www.politico.com/news/2022/01/20/bitcoin-climate-democrats-527431
Hopefully what will come out of this is more recognition of the green credentials of US miners.
We should be top of the miners with new Texas Site. Not only using renewable energy , immersion cooling , but also given our remote location a large proportion of the power we use would otherwise be wasted.