In the latest episode of Gathering of the Gigahash podcast, Akiba, Big Dave, and their guest, Hawk Crypto, discuss the current state of the crypto mining industry. They cover a range of topics, including the challenges of energy and equipment costs, the benefits of supporting a network and diversification, and the significance of hardware and customer service. Here are some of the key takeaways from the discussion.
Is Mining a Dying Art?
The podcast starts with a question on whether mining is a dying art. Hawk Crypto responds that it comes in waves and is not dead. He explains that new projects are constantly emerging, and there are always opportunities to mine. The hosts and guest then discuss some of the current projects being mined, with Flux being a popular choice due to its scalability and services. They also touch on the potential uses of NFTs and how they can securely store important information.
Hosting and Data Centers
The hosts and guest discuss their pricing structure for hosting cryptocurrency mining rigs. Hawk Crypto charges only for the electricity used and offers discounts for larger orders. They also have a system to help customers who may not be able to pay their bills. The conversation then moves on to their upcoming data center, which will provide a range of services, including game server hosting and cloud infrastructure. The hosts discuss the data center’s power needs, backup plans, and the possibility of using solar power to offset costs.
Mistakes and Learning
The group reveals their experiences and discusses mistakes that new miners often make. They advise new miners to be humble and to listen to those who have made mistakes, as the mining industry is a long-term game. They also stress the importance of supporting a network and believing in a project. The hosts then reveal their plans to set up a Bitcoin node and a Lightning node, with the latter being a significant selling point for customers. They also talk about the security of their facility and the reputation of their partner, GPU Risers.
Hardware and Customer Service
The discussion emphasizes the significance of understanding the different coins and scripts available for mining and taking precautions such as powering all risers to avoid close calls. They stress the importance of customer service and taking care of the customer’s equipment. The hosts suggest that they have a full-service data center to assist with maintenance and repair. They charge 14-15 cents for hosting and provide additional services to justify the cost.
Diversification and the Future
The podcast concludes with a discussion of diversification to reduce risk in the crypto mining industry. The hosts and guest touch on the possible impact of a bear market on mining and the potential for the adoption of blockchain-based infrastructure beyond mining. They highlight the Lightning Network as a revolutionary development that could bring significant changes to credit card transaction processing. Hawk Crypto mentions his YouTube channel, Hawk Mining Co, on Twitter and his current focus on Terrahosting IO, a hosting service that also offers ASIC sales, cloud infrastructure, and other related services.
The Lightning Network is highlighted as a revolutionary development that could bring significant changes to credit card transaction processing. The guest also mentions his YouTube channel and current focus on Terrahosting IO, a hosting service offering ASIC sales, cloud infrastructure, and other related services.
Find out more and dive deep into the world of crypto mining on the full episode of Gathering of the Gigahash.
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Author: Liam ‘Akiba’ Wright