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Topic: [2020-08-27] DCG is betting $100 million on mining Bitcoin in North America - page 2. (Read 280 times)

legendary
Activity: 2590
Merit: 3008
Welt Am Draht
An interesting article, not only because of the mining farm itself, but also because of the context in which the article was written. Silbert looks at this endeavor not only from a profit perspective, but from a geopolitical and economic perspective that goes in the direction of relocating mining power and creating new jobs in the US

That struck me too. No one lasted very long pursuing anything other than ruthless profit so I dunno how he's framed this with his board or whatever. They're not going to care about future geopolitics if they're burning untold millions per month today.
legendary
Activity: 3234
Merit: 5637
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An interesting article, not only because of the mining farm itself, but also because of the context in which the article was written. Silbert looks at this endeavor not only from a profit perspective, but from a geopolitical and economic perspective that goes in the direction of relocating mining power and creating new jobs in the US, with of course taking advantage of electricity surpluses where they exist.

The article also mentions "lawmakers and policy groups in Washington, DC" who are becoming concerned about China's influence in the industry - and in light of the trade war between the two countries, it would be realistic to expect the US to take the initiative - there is only one small problem, Trump attitude towards Bitcoin, and we all know that is negative.

It may be interesting to note that DCG has three other subsidiaries, and one of them is Grayscale which is currently buying very significant quantities of Bitcoin for its fund.

It remains to be seen whether the Barry Silbert vision can be realized. I hope it will have more luck than Bitmain and some others.
copper member
Activity: 1988
Merit: 905
Part of AOBT - English Translator to Indonesia
https://fortune.com/2020/08/27/bitcoin-mining-dcg-foundry-north-america-btc/

Barry Silbert made an announcement of an announcement yesterday. Guess this is it.

From reading this I didn't realise Bitmain's plans to mine in Texas had gone up in smoke. Hope this lot have done their sums.


100 millions of bitcoin mining and the fact

"Foundry, which has been operating below the radar since 2019, runs its own mining operations and also provides equipment and financing to crypto startups."

wow the mining industry right now same like drug cartel  Grin
legendary
Activity: 2590
Merit: 3008
Welt Am Draht
https://fortune.com/2020/08/27/bitcoin-mining-dcg-foundry-north-america-btc/

Barry Silbert made an announcement of an announcement yesterday. Guess this is it.

From reading this I didn't realise Bitmain's plans to mine in Texas had gone up in smoke. Hope this lot have done their sums.
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