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1. USA has pretty cheap electricity globally. I'm not surprised to see lots of mining here. 2. The blizzard probably took multiple mining operations offline.
by htag 4y ago
1. USA has pretty cheap electricity globally. I'm not surprised to see lots of mining here.
2. The blizzard probably took multiple mining operations offline. Large parts of the US are experiencing very cold conditions.
3. Maybe Rockland, TX has the most PR about currently operating large miners in the US. I think they have a contract for ~$0.03/kwh and purchase hundreds of megawatts [0]. It's tens of thousands of miners.
[0] https://www.wired.com/story/hard-luck-texas-town-bet-bitcoin-lost/ https://www.wired.com/story/hard-luck-texas-town-bet-bitcoin...
- MuffinFlavored 4y agoHow much money does one of these operations roughly make and what was the startup cost?
- JumpCrisscross 4y ago> How much money does one of these operations roughly make and what was the startup cost? Riot Blockchain (RIOT) [1], Marathon Digital (MARA), HIVE Blockchain Technologies (HUBTF) and Hut 8 Mining Corp (HUTMF) have public financials [2]. [1] https://www.sec.gov/Archives/edgar/data/1167419/000107997321000221/riot10k1220.htm https://www.sec.gov/Archives/edgar/data/1167419/000107997321... [2] https://marketrealist.com/p/publicly-traded-bitcoin-mining-companies/ https://marketrealist.com/p/publicly-traded-bitcoin-mining-c...
- fbdab103 4y agoFascinating find. Not a financials guy, but my quick look at the RIOT filing says they are operating at a loss for the 2020 year. Bitcoin price has seen a significant drop since then, which would compound their losses.