Riot in Texas!
Riot Blockchain is one of the worlds biggest Bitcoin Miners
Mining Bitcoin is hot work so Senator John Cornyn may want to remove his jacket as he is given a tour around one of Riot Blockchains mining warehouses.
A hot aisle in one of these warehouses can reach up to 150 degrees thanks to the densely packed miners. That’s a lot of heat being generated in a warehouse so vast that the distant wall appears to be nothing more than a bright white light.
It’s not the only warehouse in Texas either…
Welcome to Infrastructure Game Theory
Bitcoin Infrastructure is increasing as game theory kicks in. The Hash war (miners competing with one another to verify the Bitcoin network) is rapidly developing as there is a strategic requirement to continuously upgrade mining equipment in order to protect the network and the miners financial incentives.
This will become a national interest over time as global competitors compete on the digital spectrum.
Greenification is something that Bitcoin mining supports as sustainable energy sources offer cheaper, more efficient energy production.
Imagine it is like Formula 1 and the auto industry - Bitcoin represents the F1 R&D and its pursuit for faster, better, more efficient engines (Formula 1 supreme performance). That technology spills over and improves the entire global car industry as best practice is adopted and vehicles globally become more efficient and cleaner over time. This will be the same with energy production as Bitcoiner miners seek zero cost energy.
The Industry is Confident of the Future and are Investing in it now!
Marathons total mining fleet is expected to consist of approximately 199,000 Bitcoin Miners producing approximately 23.3 EH/s by early 2023. That’s a lot.
$900m of equipment is a BIG financial risk if you are not confident in the future potential.
Until Next Time
The Wealth Gap