So many good insights in this article. I haven't encountered such coherent language covering the macro forces driving the Bitcoin mining scene until now. > Bi

So many good insights in this article. I haven't encountered such coherent language covering the macro forces driving the Bitcoin mining scene until now. > Bitcoin miners are in the business of bidding electronics depreciation and electricity consumption against each other to win a tournament in generating random numbers with mystical properties. From this tournament arises a mediocre transaction processing network and a speculative asset. You get more of the speculative asset if you’re the global highest bidder in electricity used in generating random numbers and, hence, the huge overlap in professional Bitcoin miners and people with deep expertise in quirks of the power generation market.