Russian-domiciled hash is highly unlikely to KYC itself and point to Foundry. BitRiver, the largest operator in Russia, is sactioned by the U.S. government.
AntPool has added 26EH in the last 3M, Binance Pool 9.5EH in the last 3M. A large part of this may be new Russian hashrate
500MW at 30J/TH efficiency is 17EH. Given power costs in the region, it is more likely that lower-efficiency machines are being plugged in. If average efficiency of the fleet is 45J/TH, that's still 11EH.
News from BitRiver that Russia has 1GW of Bitcoin mining capacity online. This is up about 50% since the end of 2022, when local rag Kommersant reported that there was 500MW online.
Congrats to whoever the solo miner was who mined a 6.35btc block just now!
250 years ago Americans would rather throw a cargo of tea into the harbor than pay a 10% tax.
The founding fathers would be embarrassed by society today.
Is Mining Back in China? A Look at the Data:
https://xbtjames.wordpress.com/2023/03/27/is-mining-back-in-china-a-look-at-the-data/
J.P. Morgan is the proud owner of a bag of rocks, sold to them as LME nickel, so not far off
The rube goldberg fiat banking machine is failing before our eyes. CS AT1 holders, who are supposed to be senior to the equity, are getting wiped.
The old adage “don’t invest in what you don’t understand” becomes much more difficult when the rules are changed on the fly.
Bitcoin is not volatile.
The banks, which can blow up at any time, are volatile.
You think a 75% drawdown from the peak in Bitcoin is bad? Call investors in CS, they have a permanent loss on their holdings. -75% in a weekend.
Train ride home - time for Citadel Dispatch. Thanks #[0]
Everyone wants smoked meat for lunch, but few are up at 4 to smoke the meat for lunch
Japan next
Europe to follow
UK
Canada
U.S.A.
The dollar is the final boss - king of the clowns - but its time will come
There are Bitcoin developers that are worth $200,000 a year (and they should get funding) but lumping everyone who has a commit on bitcoin or a bitcoin-adjacent project into a group of people who should earn $200,000 for their efforts is a bit sweeping
Interesting letter from Coindesk backing into Bitcoin's development costs at $100-$200MM a year... which is insane to me. They get there by taking the number of total developers on bitcoin-related protects (circa 1,000) and multiplying by $100k-$200k... feels very high to me.
Tonight's Listening:
GM. Crush it Today
Tonight’s Podcast: Bitcoin Park’s Nashville Energy Summit - Public vs Private miners.
https://podcasts.apple.com/us/podcast/bitcoin-park/id1646515985