Blockstream’s ASIC Mining Note With Adam Back

Welcome back to The Mining Pod! Today we are joined by Adam Back, cryptographer and CEO of Blockstream. Well known for its sidechain software Liquid, among other projects, Blockstream is actually a large private Bitcoin miner. In today’s show, we go through Blockstream mining with Back, including its profile as a miner (energy, locations, fleet). Then we dive into the BMN2, a new financial instrument to help people mine Bitcoin without ever touching a Bitcoin miner! Note, this podcast is for educational purposes only and is not financial advice. Enjoying the show? Check out our newsletter at miningpod.blockspace.media! Timestamps: 00:00 Start 02:11 Blockstream's mining background 08:46 Mining Note details 16:53 Secondary markets & Mining Notes 19:49 Typical investor profile 28:39 Why not self mine? 32:07 Where does Blockstream profit? 36:39 Production costs & cycle timing 42:05 Upgrading ASICs or not? 45:29 Lessons learned, changes made 50:31 Post Interview Discussion Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!  👉 Check out Bitcoin Season 2 and The Gwart Show. 👉 Show links:  https://hashrateindex.com/blog/tokenizing-hashrate-blockstream-mining-note-2-bmn2/ Follow our hosts on Twitter: @wsfoxley, @cbspears, @AsILayHodling, @MatthewKimmell - Thank you to our sponsor, CleanSpark, America’s Bitcoin miner! "The Mining Pod" is produced by Sunnyside Honey Inc. with Senior Producer, Damien Somerset.  Learn more about your ad choices. Visit megaphone.fm/adchoices