Episode Details

Kevin Zhang, vice president of business development at Foundry, breaks down the latest developments surrounding China and bitcoin mining. Show highlights: 

• how he came across crypto and which Bitcoin OG he joined at Bitcoin.com to help start its mining operations arm
• what Foundry does and its relationship with Digital Currency Group (DCG)
• why DCG wanted to build out a mining infrastructure business
• what news from China in early March kickstarted the process of the mining ban
• how China’s Central Television broadcasting company might have brought extra scrutiny to cryptocurrencies 
• what the 100th anniversary of the Chinese Communist Party has to do with its Bitcoin mining ban
• why the Inner Mongolia and Sichuan Bitcoin mining bans were especially disruptive for Chinese miners
• how much of China’s hash rate Kevin estimates has been shut down since May
• where are miners relocating to 
• why Chinese mining equipment will not be allowed to turn on in the US
• whether or not China’s Bitcoin mining ban will stick
• why China banning bitcoin mining will be good for the network in the long run 
• what significant risk to Bitcoin’s network is solved by China banning bitcoin mining
• how much Bitcoin’s hash rate will drop and what effect this will have on miner revenue
• why Kevin thinks that Bitcoin is good for renewable energy
• how immersion cooling technology works
• what tangible benefits miners could find by moving to North America
• if El Salvador’s volcanic bitcoin mining plan is feasible
• what Kevin predicts will happen in the Bitcoin mining industry for the latter half of 2021

Thank you to our sponsors!

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Episode Links

Kevin Zhang

• Twitter: https://twitter.com/SinoCrypto 
• Mining tweet storms:
• • https://twitter.com/SinoCrypto/status/1407524150885994497
  • https://twitter.com/SinoCrypto/status/1409227438262046723 
• Content from previous work experience:
• • Greenridge Generation
  • • https://www.theblockcrypto.com/linked/57943/a-power-plant-in-new-york-is-reportedly-mining-roughly-50000-in-bitcoin-each-day 
  • Project Spokane
  • • https://medium.com/@derekbrouwer/the-bitcoin-barons-how-a-marketer-and-a-money-launderer-sold-montana-on-digital-gold-2a255c96c981 

Foundry, Subsidiary of DCG

• Twitter: https://twitter.com/foundryservices
• Website: https://foundrydigital.com/ 
• Foundry USA Pool
• • Bit Digital:

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