Ben Gagnon (Bitfarms) on Separating Fact from Fiction in Bitcoin Mining (EP. 303)
On The Brink with Castle Island
Release Date: 03/30/2022
On The Brink with Castle Island
Wyatt sits down with , founder of In this episode: Stablecoin usage in APAC, for saving, spending, and beyond Retail adoption that bleeds into institutional adoption The forward-looking path for stablecoin finance
info_outlineOn The Brink with Castle Island
Matt and Nic are back for another week of news and deals. In this episode: Golden age of prediction markets NYC mayor’s election What’s happening with Canton? The FHFA says crypto can be a qualifying asset for mortages Our thoughts on the market structure bill The significance of the Fiserv stablecoin pilot $500m public access vehicle for BNB The Fed drops reputational risk in bank supervision EO for debanking is rumored Kraken HQ is moving to Wyoming Texas buys Bitcoin Will banking hours be obsolete?
info_outlineOn The Brink with Castle Island
, the founder and CEO of joins the show. In this episode we discuss: The origin story behind The Tie and how Josh approached founding the business. The digital asset data market. How sentiment data has evolved in the digital asset industry. The buy-side landscape for digital assets and how Josh sees that evolving in the coming years. The Canton Network and how The Tie is working with this new protocol. To learn more about The Tie visit their .
info_outlineOn The Brink with Castle Island
Ria sits down with , CEO and Co-Founder of , a universal stablecoin platform that enables customization while preserving interoperability across assets. In this episode, we cover: Lessons from MakerDAO Drawing inspiration from the dual banking system Building a base asset that is decentralized, permissionless and ossified Issuing opinionated assets via wrapping and extensions while maintaining interoperability
info_outlineOn The Brink with Castle Island
Matt and Nic are back for another week of news and deals. In this episode: The GENIUS Act passes the Senate Should GENIUS be stapled to market structure? Bessent thinks stablecoins could be $3.7T by 2030 Stablecoin FUD Will stablecoins destabilize the US Treasury market JPM's stablecoin FUDs JPMD's deposit token will launch on Base The future of stablecoin yield in the US Circle hits a $50b market cap Yellowcard partners with Visa in Africa Kraken will launch a token for their Ink L2 Are Walmart and Amazon looking at their own stablecoins? An Iranian crypto exchange is...
info_outlineOn The Brink with Castle Island
Sean is joined by Santi Alvarado, CEO/Co-Founder of , to cover their seed raise and how money moves cross border. In this episode: Background of Santi and how he made his way into crypto How legacy FX settlement operates today How XFX enables more liquidity for cross border payment companies
info_outlineOn The Brink with Castle Island
Wyatt is joined by , Digital Asset and Blockchain leader at KPMG, for a conversation on the state of crypto auditing. In this episode: How KPMG works with crypto companies and protocols Relevant new innovations in the crypto space What to look out for as a new founder
info_outlineOn The Brink with Castle Island
Matt and Nic are back for another week of news and deals. In this episode: Stripe acquires wallet infrastructure company Privy for an undisclosed sum Fireblocks’ stablecoin data Stablecoin FUD Were mnemonic phrases a local maxima? Bullish and Gemini have filed preliminary paperwork for IPOs Soc Gen is launching a USD stablecoin We look at some infamous rogue traders Gamestop’s bitcoin strategy is a flop DTCC is looking at issuing a stablecoin
info_outlineOn The Brink with Castle Island
Matt and Nic are back for another week of news and deals. In this episode: Circle goes public and has an explosive first day The IPO window is open Circle’s vision for CPN is launching a token Will cannibalize Solana? JPM will let clients use Bitcoin ETFs as collateral Strategy introduces new offerings Magic Eden’s strange Trump wallet app announcement Truth Social Bitcoin ETF A K Pop Bitcoin access vehicle Korea’s cultural renaissance Singapore’s abrupt change in posture
info_outlineOn The Brink with Castle Island
Wyatt sits down with from the to talk stablecoins. Covered in this episode: Payments in Kenya and Sub-Saharan Africa Stablecoin usage and USDT The future of non-stable tokens
info_outlineBen Gagnon, the Chief Mining Officer at Bitfarms, joins the show. In this episode we cover:
- Bitfarms' journey to the public markets in the US
- Ben's early efforts in flared gas mining
- How immersion cooling could provide operational efficiencies
- Bitfarms' site selection methodology
- How Bitfarms secures power originally built for now-departed industries
- How Quebec overbuilt electrical infrastructure
- The benefit of miners locating themselves in Quebec and scooping up stranded power
- How Bitfarms took over a shuttered hockey stick factory
- Why Bitfarms is so keen on stranded hydro
- How Bitfarms curtails their power usage – and why curtailment makes sense
- Finding excess power in Argentina and Paraguay
- Does Bitfarms have a low carbon intensity mandate?
- Why being pro-renewable is a good business decision
- Why Bitfarms isn't focusing on Texas right now
- How Bitcoin is the most efficient way to monetize stranded energy assets
- Bitfarms' criteria for compelling energy resources
- The progress of the Bitcoin Mining Council and the bettering of transparency in the mining space
- Where Ben sees room for improvement in the mining sector
- The lack of standardization in reporting and valuation around mining firms
- The flaws in Digiconomist's estimates of Bitcoin's energy consumption
- Issues with academic claims that Bitcoin miners produce significant quantities of e-waste
- Why Bitcoin ASICs are more recyclable and have long lifespans
- The academia and press to policy pipeline
Content mentioned:
- Ben in Bitcoin Magazine: We Need to Talk About the Not Science Behind Digiconomist
- Ben in Bitcoin Magazine: We Need to Talk About the Climate Problem in Bitcoin Mining
Sponsor notes:
- Compass Mining is the world's first and largest online marketplace for bitcoin mining hardware, hosting, and ASIC reselling. Start mining your own bitcoin by visiting compassmining.io