I’ve been talking to investors about a mining location we have and that is the mentality. It’s difficult to forecast revenue for 3-5 years mining Bitcoin, let alone going public and exit. I want to build Bitcoin mines with Bitcoiners. Bitcoin is the exit.
Discussion
Yeah, even the bitcoin VCs are wanting future raises. Governance terms are very anti-founder. Even among the “best” credentialed first time entrepreneurs. Everyone is CYA first and foremost.
(Which is what makes FTX that much less believable.)