Great convos happening about the Saylor strategy as it pertains to mining companies. nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z & nostr:npub1fpewuyx9rekj9487v2uawmg2any7tm7hpfw9at4q2r42u9jk792qg9vrkt recently spoke about a negative situation for mining companies employing this convertible debt capital raising strategy to purchase bitcoin for treasury — citing that miners’ cashflow is dependent on the underlying asset they are raising capital to purchase. John Arnold, nostr:npub1saxmd5km0vusxhl84tqeaqaysftezh3h6ne22h95efntutth42yqlju5fv & nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy also highlighted this at the end of their most recent Bitcoin Alpha episode.

I’d love to hear Sam, Marty et al. dive deeper into a scenario where too many public mining cos get entrenched in financial engineering via debt to acquire bitcoin. Could there be a short term (or even long term) scenario of bear conditions that leads to pubco consolidation, evoking centralization concerns within American domiciled hashrate?