Vertical integration or maximum agility - which will be best for mining in 4 years
summary
Argues that buying miners beats vertical integration: building 100 MW generation costs $70–140M giving ~4.1 cents/kWh, building 100 MW hosting costs ~$30M and yields ~1.18¢/kWh but only ~9.3% ROI, while investing that $30M in roughly 6,000 S19 Pros (at ~$5k each) raises ROI to ~109% and generates about $90,000/day more at 5¢/kWh (still $61,000/day at 6¢). Notes a near 50% hash rate drop from China and urges maximizing deployed hash now.
AI-written summary · about
chapters (5)
- 0:00Introduction and strategy
- 1:05Controlling mining variables
- 3:17The case against power ownership
- 4:44Infrastructure vs. hardware
- 8:19Strategic investment advice
