In late spring of 2021, China banned all bitcoin mining as part of an ongoing crackdown on crypto in the country.  In response, many Chinese miners packed their bags, and headed to the Lone Star state of Texas. Texas offered a relaxed approach to regulation, a unique power grid, and attractive energy prices - all things that seemed ideal for miners looking for a new home. Until 2022. 

The situation in Texas is complicated, to say the least. That unique energy grid is prone to power outages. Extreme temperatures mean keeping expensive mining equipment cool is a challenge. And crypto miners are facing financial difficulties brought on by declining Bitcoin prices. 

Bloomberg reporter David Pan and Ethan Vera, COO & Co-Founder of Luxor Technology, both attended a recent Bitcoin mining conference in Miami. They join this episode to share some takeaways from the conference and how miners hope to survive this complicated crypto winter.

In late spring of 2021, China banned all bitcoin mining as part of an ongoing crackdown on crypto in the country.  In response, many Chinese miners packed their bags, and headed to the Lone Star state of Texas. Texas offered a relaxed approach to regulation, a unique power grid, and attractive energy prices - all things that seemed ideal for miners looking for a new home. Until 2022. 
The situation in Texas is complicated, to say the least. That unique energy grid is prone to power outages. Extreme temperatures mean keeping expensive mining equipment cool is a challenge. And crypto miners are facing financial difficulties brought on by declining Bitcoin prices. 
Bloomberg reporter David Pan and Ethan Vera, COO &amp; Co-Founder of Luxor Technology, both attended a recent Bitcoin mining conference in Miami. They join this episode to share some takeaways from the conference and how miners hope to survive this complicated crypto winter.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Bloomberg Crypto

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority.

In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. Bloomberg journalists will help cut through all the noise and provide clarity, context and authority. In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.

Bitcoin Miners Are In Distress

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e19524dc-683e-4f31-8e8a-aef000240e74/transcript

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