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Well given ARB’s relative efficiency it’d be much lower than major competitors (MARA, RIOT etc)…
In which case you’d see a massive drop in hashrate and difficulty, and subsequently ARB would mine more BTC.
Who doesn’t like a simpleton deramp?
MARA and RIOT have done the same so possibly not illegal… but they did rights issues to fund the purchases.
I think ARB have bought a few BTC in previous months but I don’t think we should get into the habit of it - ARB is about mining, not asset management.
PW is already on the case.
Need to figure out how to implement it though. I think there will be a branching off of BTC into green and non-green coins.
However, I’m not sure how this can be implemented in the BTC blockchain.
Only option I can think of is an industry body/regulator that certifies miners as green and coins whose provenance can be tracked back to these miners are certified as green (and accepted by Elon the narcissist to buy his cars).
Will be interesting to see what happens at the end of the month when options expire…
MMS have been manipulating the price the past few months to maximise their gains on options; if so many calls have been liquidated then max pain should be much higher.
Although the market isn’t making much sense at all these days.
“Ditches Bitcoin”.
****ing shoddy journalism. It’s not even journalism it’s deliberately spreading lies/FUD paid for by Wall St.
I’m convinced that Wall St want to bury crypto (and BTC is the flagbearer) as it threatens their control/dominance over markets.
75% of miners ? 75% of BTC mined.
A lot of Chinese miners use coal, and Chinese miners mine around 2/3 of all BTC.
Really good opportunity here to drive acknowledgment/acceptance of a green coin - PW has suggested it but needs to capitalise on this.
So, at the moment ARB could draw down from the debt facility or sell ZCash to pay overheads etc.
I think they use ZCash to pay the mining costs which is the 15% (PW explained this in a Q&A), and hodl whatever is left.
The thing is that anyone investing in a company like ARB needs to think long term and radically. More and more companies are starting to accept it as payment, others are using it as a store of value (and hedge against inflation), and Texas is currently trying to legislate to more or less recognise some cryptocurrencies as formal currency that can be used to pay for goods and services just as the $ currently is.
So, in the not too distant future, ARB may not need to sell BTC/ZEC/whatever we mine in Texas to keep the lights on, they may be able to just use it to make payments - the same way they currently pay PW in BTC.