We have been hard at work building software. Our pool and customer dashboard are getting completely revamped.
1. Users of our pool service will be able to see more data regarding their miners and performance.
2. Hosting customers will have a self serve marketplace to buy and sell miners. Showing the individual stats and history of each miner.
3. Hosting customers will have a complete breakdown of their hosting costs per miner.
4. Lightning payments will be supported for the pool service.
There is A LOT more that I didn't highlight. We are expecting to have everything ready for public use within the next month or two.
The stories we could tell about what we have seen from Compass facilities would make you fall out of your chair.
A lot of our early customers came from Compass back in early 2023. Let’s just say that none of them have left us to go back.
We pioneered the 0% APR credit card to buy Bitcoin miners back in 2022.
Our customers have been using this strategy ever since, and it’s actually the cheapest form of capital plebs can get.
- First 18 months 0% interest
- Uncollateralized, keep your Bitcoin in cold storage.
- Pay off the balance at 18 months
- Enjoy the daily sats from mining
There was a massive overinvestment into mining from 2023-2025. We are now seeing those who misallocated capital exit mining altogether.
I expect hashrate to grow much slower in the coming years.
Credit to @DigMinSolutions for the graphic.
Match Group CEO @spencerrascoff says his company is adding millions in new AI expenses, and many CEOs still aren't sure when the payoff will fully show up.
"So our approach is that we have to pay for these tools. For us, it's $5-10M a year that we're spending on AI tools from basically nothing. So we're slowing down hiring somewhat. That's how we're choosing to fund it."
"In terms of when do we start to see the actual benefit? CEOs, CFOs, and I are starting to ask that question more and more. I think we're benefiting from it, but it's hard to feel it."
From his appearance on the show earlier this month.
Because it makes it look "official" and people believe it went through some kind of testing process to ensure its quality.
New cars have a kinda similar trend of having MASSIVE grills and fake ducts so they can keep their "super ultra high performance" 200hp engine cool while driving down the highway. Most people don't notice or care that 50% of that massive grill is actually blocked off, but it makes them feel better.
It's all marketing and it clearly works
It is our experience that farmers see themselves as just farmers and not businessman. Because of this they never step back and look at other opportunities.
"I'm a farmer so I farm." Instead of "I'm a businessman, farming hasn't been a great business to allocate capital into over the last decade. Let me use all the skills that I have and apply them somewhere else with the capital I have from farming."
Because of this the economics will never get better because each year every farmer will take a tighter margin and hope to continue farming to next year.
We are not farmers, we are not Bitcoin miners. We are businessman who own farming and Bitcoin mining businesses. We will own many other businesses throughout our lives as well.
PS not a dig at Sawyer.
When Dad and I ran the real numbers on our grain operation this year, rent, seed, chemicals, and equipment, it wasn't profitable.
I'm not saying that for sympathy. I think most row crop farmers I know are in the same position and a lot of them haven't done the honest math yet.