Bitcoin & The Economics of Mining
Marco Krohn, CEO and co-founder of Genesis Group, and Marco Streng, founder of Genesis group, join Moritz Seibert, co-founder at Twoquants.com & CEO/CIO at Munich RE Investment Partners, to discuss Bitcoin, Bitcoin mining, and the changing dynamics of mining. Krohn explains how they first got into Bitcoin and how they turned their interest in crypto into Genesis Mining. He explains the electricity price game that miners need to take into account when mining crypto and the impact this has on the economics of mining. Streng touches on the importance of location for energy costs when mining and the extreme competitiveness of the industry over the past several years. They explain what Bitcoin is to them and some potential risks for the industry. Filmed on November 11, 2020. Key Learnings: Bitcoin is secured by miners that receive a reward for their work, and this episode explains the dynamic nature of Bitcoin mining and covers a bit about the economics at play. If you wish to understand at a high level how Bitcoin mining operations work and why the constantly changing dynamic keeps the mining sector extremely competitive, this is an excellent video for you.