 Welcome to the last set of news like the top stories in crypto and bring on bite-sized pieces today just like the thumbnail suggests America wants a Bitcoin and we're gonna take a look at what is going on with the Bitcoin mining operation and just how badly they want it So first of all, we got to take a look at the July Bitcoin mining numbers as those have changed dramatically since June as China kicked out all of the Bitcoin miners. Also, we're gonna take a look at the hash rate What's going on now as far as the current The proof of work and the US infrastructure bill and why the proof of work language was more prevalent than anything else And then also we're gonna do something pretty important is Talked to the beat the vice president of operations over at Pulin which is the second biggest Bitcoin mining operation in the world and We're gonna sit down with Alejandro did a tour to talk about how they came about from moving from China Over to the great state of Texas and what that all entailed and then finally we'll take a just do some final thoughts But first before we get going, I just want to say you may have noticed that my voice a little bit Different today and that is a very simple reason because I was sick and I still feel a little bit sick And I want to say thanks everybody for the outpouring of support for my well-being and health very nice I appreciate it and yeah today just you know getting over it So there's only one way to one thing to do which is just keep going just keep moving forward Just like investments so you can't just sit around and like oh, I don't feel bad or I feel good You got to get up and do things. So that's just how it works. So that's what's going on and right now Let's take a look at what is going on into the market first of all so As I was laid up in bed I saw that we had to cross over the 2 trillion mark and now it is Sunday It's the 15th of August somewhere on there and now we're at 1.96 trillion So a little bit of a pullback, but that's fine because we're not at 1.2 trillion We're not 1.3 trillion. We're almost at 2 trillion. We're at 1.96 and that's pretty good. So Bitcoin 46 3M 3100 pretty good Binance coins slipped in the number three spot and Cardano, they've been flipping back and forth Cardano Just had their big announcement when the smart country is coming forward. So that looks like a pretty good deal And hopefully it all works out. What's amazing to me about Cordano is that they said we're gonna announce it and they're actually gonna hit it So that will be interesting. So first of all, let's dive in to what is going on with the Bitcoin mining numbers and this to me was pretty telling because if we take a look at it and We've got this was from Bitcoin magazine since the China Bitcoin ban in June North American miners have been profiting big and we can take a look here Marathon Argo Bitforms Hut 8 and Riot they have a combined of 1800 and 2 Bitcoin for the month of July, which is a 58% Average increase since June. So again, what's great about that is that hey, you know when China Excuse me in China They told all the Bitcoin miners to get out. I thought this was a very bullish thing I'm ecstatic that it happened and I'm glad when all the different companies move here to America I don't care where you go. Honestly, I'd like you to all come here to America But if you go to Kazakhstan or the EU fine, that's fine What are you gonna do? Just get out of China and again nothing against Chinese people just that your government screwed you And that's really what it comes down to so That those the numbers right now now Let's take a look real quickly at the hash rate and you can see right here pretty easily Let me blow this up so you can see what I'm what I see When we take a look here And we go over this in June is when there was this big drop-off. That's one bit. What's when essentially, you know In June or things were just kind of sliding down here as as Chinese Government cracked down and said no more but no more Bitcoin mining don't want to do that We want to have our own digital you on sure fine. Great. Thank you And of course we we bottomed out here and then over time as all those mining operations sold their Bitcoin and they had to because they had to get stock or get The funds to actually move their enormous businesses outside Then we start to see a little bit of an uptick and then here we are today Looking pretty darn good For X hash or tear hashes, which ever we want to look out of here anyhow, it's a lot So that's good. We'd like to see that. I like to see that I'm glad that it's actually going forward and then the big thing was if we're gonna talk about Why America or does America really want Bitcoin? Well, yeah, we do we want it badly apparently and so bad and the infrastructure bill The language of cryptocurrency Was all about the proof-of-work protocol and it really didn't give too much credence to proof of stake And it didn't give too much as far as like exemptions now Lummis and to me they came together and said hey, let's let's put that in But of course there was one senator from who knows where Just shot that down because he wasn't unanimous so good with that one But just remember this in the original language without doing too much of ourselves Proof-of-work was in there and what is proof-of-work? Well, that is Bitcoin So with this and then don't feel discouraged because you had to remember In America we have the Senate With senators and then of course they vote on things then it has to go to the House of Representatives And that's where it is or is going to be and they have to all kind of come together Not all but the majority has to has to win out and we'll see that happens It's a lot of people to actually push it through I personally don't think it's going to but hey, who knows? I'm not a politician. So that is all as far as like Where America is going and I like that so now what I want to do is It's fascinating to me about what is going on the background and all these big companies coming in to America and what it Actually takes and what was the mindset of mentality and honestly to really take a look at where things are going So we're gonna talk to Alejandro and he is a VP of pooling and I'm just gonna have some quick questions for him So what let's jump right in everybody. So yeah, like we talked about There's a there's a big influx of Bitcoin miners And of course they had to come over from China because of what happened over there And that is actually a blessing in disguise for American Bitcoin miners and to answer some of these questions that I have in my mind I reached out to pooling VP Alejandro de la Torre and he is here from pooling to answer some questions Alejandro Thanks for coming on. I really appreciate it. Thanks Rob. Nice to be here. Thanks for the opportunity. Yeah, man Good stuff. So real quick. I wanted just to show everybody just to jog everybody's memory About what's going on and if you can see right here, we increase this a little bit So pooling you guys are pretty big I mean you guys are 12 percent of the total pool everything out there So and then beforehand, I think you guys were maybe in the 20s even higher than that So just just talk us through real quick about how everything worked out as far as being in China having this large Infrastructure built in for all these these Bitcoin miners having to uproot because of the Communist Party and then coming all the way over to My favorite state Texas Yeah, everything's everything's bigger and better in Texas. Um, uh, I'm currently right now in Austin. Um Just moved in actually today to the new apartment. Welcome Thanks. Um, so yeah, so it happens all of a sudden essentially Um, we have been hearing about, you know, potentially things like maybe slowing down in China with the mining Perhaps they were gonna we thought we thought there was going to be a sort of shift from coal mining in China to Won't green it green energy mining. That's what that's what kind of we had in mind was going to occur But we did not we did not expect like basically a total ban of Bitcoin mining in China all right So pooling pooling is aside from it being second largest mining pool in the world Which means that miners across the globe connect to us. We also have a very substantial mining farm operations over 200 megawatts 250 megawatts of The newest generation miners um So we we're very substantial very large player in this sector. Um, the next day as soon as we heard the ban I was I was based in Texas, but I was based in Germany The next day I got a call from my CEO kenny pan. He's like, um, yeah, um, it's it's real Let's go to the u.s. And find some new location Literally that night took the next flight out and got in those in texas Yeah, I was a little bit jet lagged Be worried with what things things were going but um, yeah start then we started our search around the u.s We've been to many many states across the united states was not just texas But um, we kind of we kind of decided on At least building the first phase of of our mining farm operations in texas in and have a headquarters in austin for our united states operations, um Which were almost which I think we I think literally last week we we opened up a small office So we're you know, we're moving there. Uh, we're moving uh moving along um It was uh right now there's there's um the the the There's a whole list of of of things that you need to consider when you open your mining farm operation Of course number one most important is the price of the electricity Um and texas yeah, go ahead No, no go ahead. Yeah, I know it's it's it's pricey out there And I can understand why I guess one from china Then you then you moved over here So talk to us about texas and the and the prices there Yeah, sure. So the so so the price for the price of electricity is extremely important factor in mining as you can uh, I guess Texas has very very good prices because um texas has Like oil and gas has a very substantial wind Uh a lot very big wind farms. I think I think it's probably I think it's the sixth largest Wind uh electricity producer in the world. Yeah. Yeah, so just texas so And there's a very large solar plants as well. So the end wind so so so there's a lot of electricity in in in texas um a lot of energy so so the price is quite low And additionally there's the air cut which is the like basically the uh, The electrical grid which is which is a actually a free market electrical grid. I think it's the only one in the world Um, so that's very very interesting for us because um, we're free market first and foremost ideologically We're free market guys with bitcoiners, right? We we we really like free markets china, um with the you know with the with the lock with what happened with the bands, um, We we don't want to experience that anymore. So aside from it having cheap electricity Uh a free market type of electrical grid system. There's also Um, greg abbott which is the governor of texas. He's very much. Um, he understands Um that if there's a surplus of energy is not being used and you connect to these bitcoin mining farms, whatever they are They produce more money. They they they use that electricity that would otherwise be wasted or unused And and everyone is making money just jobs being created Um, you know because for a mining farm operation for a mining farm building You need to build the building which requires people You need to you know, there's there's so many there's like a whole entire array There's there's hundreds of people that are that that need to they have to work in order for this to come to fruition So it's it's great. It brings in a lot of jobs for the national usually usually these these farms are in the middle of nowhere Usually near, uh, you know substations, uh, so the electricity comes directly straight from the substation um And there's usually little towns or small towns near, uh, these farms which Would you know which it helps it helps bring jobs to those towns that maybe otherwise had lost it because of You know factories leaving or whatever. So there's that's great. Um, so so the the texas understands that So we're we're happy about that. We're we're super we want to, um You know continue, um This dialogue between farmers mining farmers not just farmers with mining you pick mining farmers that and and uh Government we will you know, we want to continue the dialogue and we have a lot of things we have in mind Um that we will be doing soon. Um, and But yeah, yeah makes sense Yeah, so like I mean what the big uproar last week was the infrastructure bill that came about And of course everybody was up in arms because one of the language was mostly proof of work And then they snuck in some proof of stake and they you know as far as who is exempt So at least for you guys, I mean on the regulatory level looks like you guys like hey not so bad So proof of work sounds like it's going to be okay for a while We'll see what happens as it goes to the house But the big the other big question I had was How much there's actually two questions and I always never got a great answer for this one I don't know if you can help me which was You guys have your own structure You have pooling as this huge massive infrastructure for all the different miners that that that you guys have But however miners can connect disconnect do whatever they want to from all over the world So the question I always had to miss myself was this What what would be the percentage Of the actual bitcoin mining rigs that you because you guys possess as opposed to all the bitcoin miners throughout the world Who are connecting to you because I was always curious like I wonder if it would be Like there would be you guys have like 50 percent of the mining rigs and everybody else out there They have the other 50 percent or it's like a 70 30 split or an 820. I have no idea I just want to see if you had any any kind of like data for that one Okay Good question. It's I don't know. I don't know at the top of my head how much hash rate we we have in our farms Yeah, but um, you can actually do the map where we're listening can actually More or less figure it out. So we have around 250 megawatts worth of equipment. They're all Okay, generation. Yeah, well you guys think there's calculators just mining calculators pooling.com As one for example, yeah in the tool section Um, where you can then, you know, you can actually put 250 megawatts You can put new generation how much how much electricity each one Yeah, one miner uses You can come up to a theoretical like to a close number of how much hash rate we have and then you can then take that number take that amount of hash rate and then um We have around 12 percent of the bitcoin network In our pool. So then you can check how much worth what 12 percent is would be let's say if it's uh Yeah, 12 percent of the total hash rate comes pooling and then you can subtract How much we have and then you can come up to that number Perfect. I don't think it's 50. I don't think it's it's not definitely not 50 50 percent I was just I was just curious But yeah, like I mean it sounds like you guys are doing I mean the big things because look back in back in july when everything was going down I mean it really took a big dip then from ever all the different pools that are out there I mean look how much has already come up. So it looks like we're on the road recovery I mean for as far as like hash rate. So then the next big question I had which was I mean you already talked about it, but what was it like just to pick up everything and go, okay We're going we're having this you know this big infrastructure in china to moving to like A texas and setting everything up because when I was talking to For the winstone ceo, it was chat everett and he was talking to me about he said look There's a ton of people or a ton of chinese miners who are coming in they said they want it today And he goes I've got like, you know some infrastructure But it's going to take me like a year maybe 18 months to get them all going but you guys are up already So what did that look like to to do that to pick up everything and the cost and everything else? And then just to move into austin go, okay, let's do it and you guys are up and moving already. That's amazing Thank you. Um, so just to clarify we're we're still not up and running fully we have we have We found some hosting arrangements For a percentage of our miners, um, but it's not all of it, uh, we We What chat hair is from um from from was it winstone winstone, right? Winstone. Um, well, he said is correct um In order for especially especially something like to like we have 250 megawatts worth of equipment, which is a very substantial amount Yeah, the This requires a big building, you know or mobile. They, uh storage Mobile units they're called or you you can put them and you just place them on somewhere throw some machines in there That takes a lot of time to um to To get up and running it's not it's not only because uh, it's not only that just to speak me There's a whole entire there's a whole entire again a whole entire list of things that need to take place in order for this amount of electricity to be Uh to come up and running and start mining you need for example, um A lot of transformers for the electricity. You need a lot of cabling or if you're gonna do If you're gonna do a liquid, uh Liquid mining so like not liquid mining but um Put the mining in put the miners in liquid. So yeah Some merge mining, but I forgot the name um That requires a lot of this liquid this liquid is actually Not that easy to find or to source that much liquid. It's how difficult takes time but more importantly It's like the agreements with the power companies with the power producers um Setting up if again 250 million watts will require a substation. Um, there's there's only a limited amount of substations across the globe Yeah, so you have to build and sometimes you would have to build one building a substation takes time um So so we're we're right now We're right now basically still in the I'd say A bit a bit past the beginning because we already were settled here We have we have we just opened up the office last week We have a certain amount of locations that we're like won't focusing on so, you know We're getting there, but it's going to take a while it's going to take a while Yeah, well even as whoops even as good as that is I mean look at this I mean like like we just said the hash rate is going up pretty well So if you guys are like this and you guys are the bit one the second biggest operation So you have a lot of resources behind you all the other different pools that are coming over probably the same way So I would expect to see this hash rate go up difficulty level go up and so on and so forth Okay, makes a lot of sense. So all the other that's those are my my big questions I'm just surprised and just um, I'm glad that you guys are over here. Let me just let me just tell you this I'm happy I mean, I know it kind of sucked to to pick up all the operations, but I'm glad you're in my state I'm glad you guys picked Austin and I welcome you guys and I hope More of the bitcoin miners that are out there will come over to the state because it's it's it's great for For building infrastructure for producing jobs. It's good for the state governor already figures it out greg abbott So I think it's good Any that's it for me By the way, thanks That's it for me, but any any words of wisdom for the for the bitcoin investor out there before we take off um Sure bitcoin remains this this episode of where or this this black swan event, which basically what it was right um People seem to focus everyone's focusing on the movement and the migration But the one of the more important things is that, you know, bitcoin survived This bitcoin remained totally functional throughout this whole entire debacle um So bitcoin is this was one of this was a pretty important test for bitcoin and it came out Totally totally fine with flying flying come. What is it flying colors flying colors? That's right I need to get used to start with americans That's okay. Yeah, man. I mean I gotta agree. I mean look we had It actually I mean the in all honesty. It was a blessing this guys I thought it was gonna We were gonna take a lot more time because china was gonna have to you know relinquish everything and then kind of And then people would go out their way, but china just did us all a favor I think and nothing against the chinese people is the chinese government that did that and let's just all remember that so Guys, that is it. Uh, alihandro. I want to say thanks again for stopping by. I appreciate it We'll have you on again as uh as timing with ford. You can update us. What's going on Sounds good rob. Thank you again for the opportunity. Make sure to like and subscribe Thanks. Yeah, I always forget that myself. Thanks for doing my job for me. All right So we'll we'll jump back. All right, that's it. So I hope that answered a lot of questions Uh, I gotta tell you alihandro. It's it's good to put a face Uh behind these big entities these big corporations these big big money companies So I want to say again, thanks to alihandro for coming on and just kind of get shedding light about where things are going And how difficult it was and a different setup of operations and again We're not at full strength right now. It's going to take a little bit of time just like we talked about But uh, I think we're in the right place. So look, uh, that is it for today And uh, if you made it all the way the end, uh, first of all, thanks. I appreciate it. Thanks for stopping by Like the video give it a thumbs up. I'll consider subscribing all things we do on this channel are time sensitive So that would be fantastic. Anyhow, that's it for today. Uh, enjoy the rest of your weekend I'll see you on the next one