Saturday, April 9, 2022

[Tangents:] Jack & Elon Ready By H2 2022 -- Solar/Batteried (Off-Grid) Bitcoin Mega-Mines Coming To Rural Texas…


It seems rural Texas will be home to a NEW pair of 800 pound gorillas in Bitcoin mining (by mid-2022) -- with essentially unlimited capital to invest, and deep experience in multi-warehouse scaled batteries for storing solar energy, as reserve electricity, all off grid. This is very dire news, for capital constrained Riot. If they are on-time, to ramp up in the second half of 2022, Riot is. . . DOA. As is Marathon Digital. [And several others.]

The two mega billionaires can clearly afford to lose money on solar and battery cap ex -- for a solid decade, to make a mega-mine (completely off-grid) become GAAP profitable.

As we have pointed out ad nauseum at our other property, Riot and Marathon Digital likely have a year or less before the market dumps them wholesale -- for being unprofitable, on a GAAP operating basis, all these last four plus years.

The real capital- and savoir-faire advantage presented by Musk/Dorsey -- even in this first demo… explains Riot’s (and Marathon's) ongoing decline today, on the NASDAQ.

CNBC has the gist of it:

. . .Blockstream and Jack Dorsey’s Block, formerly Square, are breaking ground on a solar- and battery-powered bitcoin mine in Texas that uses solar and storage technology from Tesla.

Tesla’s 3.8 megawatt solar PV array and 12 megawatt-hour Megapack will power the facility. . . .

Back said the off-grid mine, expected to be completed later this year, highlights another key tenet of the bitcoin network: Miners are location agnostic and can “do it from anywhere without local infrastructure.”

Should the project prove profitable in its pilot stage, Back said, the companies would add wind power to the mix and scale the entire project. . . .


Incidentally, this would mean Musk’s just under 10 per cent position in Twitter announced this week. . . is certainly a "white squire" -- purely friendly.

Onward. . . smiling. . . .

नमस्ते

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