Bitcoin Miners Are Back Amid Crypto Rally

Crypto markets, and Bitcoin especially, had a strong start to the year. That’s had a couple of interesting consequences for some of the most important players in the market: Bitcoin miners.

2023 has also seen a lot of significant weather events affecting the US, including recent winter storms in Texas that have left hundreds of thousands of people without power. Energy is one of the most important costs that Bitcoin miners must absorb - and of course, they can’t run all those machines in their data centers if there’s no electricity.

In the past, the show has talked about the challenging conditions that Bitcoin miners in the US and around the world have been facing. On this episode, the focus centers on the miners that have been able to adapt and take advantage of current market conditions, to try to put themselves on slightly more stable financial footing. Bloomberg reporter David Pan joins this episode to talk about his reporting. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter

See omnystudio.com/listener for privacy information.