Today I had the pleasure of interviewing Sascha from Green Mining Dao to discuss how he was nearly caught mining Bitcoin in Ukraine when Russia invaded!
We didn’t stop there, we discussed an array of other topics such as:
🔥Why this could become the last Bitcoin mining cycle.
🔥Drying mangos with the heat from Bitcoin miners.
🔥Why mining changes everything
If you want to learn more about Sasha and his company you can find him at the link below:
https://www.greenminingdao.io/about
this could be the last cycle in which we have pure miners we started the Venture with the idea of uh setting something up in Ukraine where we plan to work with solar energy providers and we thought this was a safe play and a secure location to do it to only notice that a few weeks later and I’m really talking weeks uh after we signed the LOI there that Russia invaded Ukraine so we’re taking renewable energy uh specifically hydrop power we love hydrop power we take it we mine Bitcoin and then we actually reuse the Heat and dry Bitcoin mangoes and thereby transforming the the energy not only in SATs and in Bitcoin but also in some nice juicy mangoes yeah so and you know we all think oh yeah Europe is secure and safe and this and that but I I personally think that um Bing Bong I am back with another edition of the state of Bitcoin podcast where I’ve got Sasha of green mining Dow who recently tweeted out that the day of the having was one of their best days historically and that they were making more than during the last Epoch so despite all the narratives green mining Dow seems to be crushing it so Sasha welcome to the show and uh how the hell did that happen man I thought the having was supposed to hurt the miners not help them well usually it does but first of all thank you so much for having me Brandon uh and thank you for this fantastic and very euphoric introduction uh yeah that that I mean that that weed was really uh supposed to be also a little bit funny and it was very much connected to to the launch of rooms um which is um um um an innovation so to say to have fungible tokens on bitcoin um and a lot of people wanted to you know create their own runes their own tokens and inscribe maybe even on the on the haling Block so there was a lot of transaction fees uh that were spent that day and it was it was actually so exciting because we went from $110 per Peta hash all the way up to 180 and we were just sitting there like oh my God is this going to last that would have been so cool yeah yeah unfortunately it probably it probably didn’t last but I want to talk about a little bit about that right because it seems like the miners had were struggling throughout this past um you know four years throughout this past cycle especially in the last bull market right we saw a lot of miners almost like uh fomo in right put a lot of Leverage on their machines a lot of things like that they got crushed when the the subsequent bare Market hit but then you got kind of a a nice little boost here with with ordinals so I mean from what I what I’ve understood uh or the conversations that I’ve had it seems like a lot of miners don’t have a strict opinion on ordinals like whether it’s good or bad all they know is it’s helping them so do you have an opinion as to whether or not like orinal runes like these uh inscriptions on uh the Bitcoin blockchain are good for Bitcoin or are you more just uh kind of stay in your own lane and focus on uh you know how how the you can make the most efficient use of energy for the mining business well I mean look just like everyone I have an opinion but whatever it’s worth it yeah I have to say that um um I think in general you have to look at this this question with from various angles number one uh first of all I think it’s good to see uh continuous bips on bitcoin which allow for Innovation within the Bitcoin ecosystem itself so I I I first first of all think that ordinals and also runes are a positive thing a positive sign that there is actually develop people are busy with Bitcoin they’re you know trying to uh introduce changes to uh to the ecosystem and to the code that that allows us to you know create new stuff um that that that’s one where I think personally the the network and Bitcoin and uh in general our ecosystem benefits from and we’re seeing more and more let’s say Innovation and and things that were happening on ethereum and and other um blockchains also being applied to to to bitcoin because essentially or eventually ordinals were nothing else than nfts on ethereum and and other blockchains before um so so I think it’s first of all it’s good something is happening and that also um allows us to orange pill no coiners more and more because it gives them a different entry point yeah so that’s one the the the second item is for for us as as as miners obviously it’s fantastic if the network is being used and transaction fees are you know being increased and and we see more and more Revenue that’s that’s fantastic yeah um because it like you know historically we’re looking at like one to 4% during bare Market times um of the block subsidy being the transaction fees and if that jumps and and we’re talking 10 30 50% well that’s fantastic specifically after the having yeah and um and and the particular data we were talking about um there I I don’t have the exact numbers in my in my head anymore um uh but but we had I think it was 300% or so of the whole block subsidy were or compared to to to the block reward sorry 300% versus the block subsidy um was the transaction fees coming in so we had three times the amount of Revenue through transaction fees than we had from the actual block subsidy of um 3.125 Bitcoin per per block so now looking at these two answers coming from different perspectives both of them saying that’s a that’s a great thing um they’re they’re positive in my in my point of view for Bitcoin but then there comes the bitcoiner in me that says Bitcoin is the store of value and it’s it’s it’s that one asset that you know we want to uh store our time and hard work in and then it is a different discussion because if transaction fees increase and then you’re not able to make a smaller transaction on chain on bitcoin anymore because it’s polluted by ordinance runes or anything else then that’s obviously counterproductive and counterintuitive to what Bitcoin is meant to be and there I’m you know I’m more on the contast side of things and then I would have to argue okay well but for that you have uh eventually uh Innovations like lightning where you can do micro and smaller transactions but then you’re not on chain so you you have another risk there so it’s it’s not so easy to answer and I don’t personally have a finite uh answer but I would say I’m leaning 60 versus 40% towards the positive side of things uh saying it’s good for the ecosystem it is development and on a on a revenue P from a revenue perspective obviously that’s amazing for us as green mining Dow being able to to um to to get even more more Bitcoin for the energy that we’re that we’re putting in I don’t know if that answer the question or if I deviated too wrong no no it is a good it is a good answer and I think you know that at the Crux of the answer is essentially like everything is is good for Bitcoin right if we have like a free and open- source market you know the scam are going to try to scam and create some of these things or whatever and like maybe uh you know they make a little bit profit in the short term but in the long term bitcoin’s going to be the free and open market the best you know case scenarios are always going to rise to the top what what helps the most amount of people and I think you know it did help a lot of the miners like in the short term um kind of like uh you know I guess uh you know with the the fees and everything like that but you know in the long term it’s just not going to be sustain sustainable I think and I but I do think like The Innovation and everything around um you know not only you know the mining side of things but uh around like building on the blockchain or whatever is going to try to continue whether or not people are successful or not it time will tell with that but um you know I want to get into the Innovation on the on the mining side of things because you know it’s that that is also a kind of like a big you know I guess anti you know fud narrative that they put around around Bitcoin is that mining is uh you know the use of energy is not necessarily good um now what is your viewpoint on that you know do you think like as a society in order to grow we need to consume more energy or should the goal be to um you know utilize less energy as we go on yeah I mean Super interesting question because there’s so hardcore camps left and right and so I’m I’m not of the camp that says more energy consumption is great to be fair because there’s people out there that say we need to uh we need to consume more energy for everything I think if you can do it more energy efficient why wouldn’t you um that that’s the the first statement but then on the other hand I I always look at like Civilization and think okay how did we grow how did we develop how do we like create wealth in in our in our society and eventually everything that brought us further costs energy and and and takes a lot of energy yeah be a transportation going from left to right or from one place to the other we need either gasoline or or or other forms of energy to actually travel right and um that brought us the opportunity to go to a different place where more water more harvesting more whatever was available so that actually was good for us as humans and Society yeah another thing um looking at at growing growing growing food um or or harvesting food or basically anything that has to do with nutrition feeding us in a better way R&D in that in in that Direct and sector Direction and sector also cost energy which brought us uh a longer lifetime more Health um and and and if you look at the the financial system why wouldn’t we want to invest money on or or energy on the on the financial system right now there’s a few um or there’s obvious flaws in our U Financial system from inflation to not having access to discrimination of either certain groups of population or female or or or whatever certain like stigmas and Bitcoin is the only and first asset that I know where everyone can within seconds create a wallet and have full transparency full power and full ownership of their own assets and that if you ask me if that’s worth investing energy I would say 1,000% it’s the innovation of our 21st century and um and and we should 100,000% um be aware that every Innovation and everything that has value has consumed energy and that’s what happens with Bitcoin as well and I just I actually just brought this um so so I’m in Europe right now and it’s um what is it it’s it’s almost seven and I had a conversation this morning with a journalist um who who was like also picking up this this this this this information that yeah you guys are mining green right isn’t the rest of the industry totally on coal and oil and gas and you know all these like polluting things and I was like yeah that’s a that’s a really great fud that you have there but eventually the the industry is already like 50 60% plus globally um not only with with um yeah sustainable energy but even CO2 neutral or CO2 negative uh operations right and it’s interesting how long that fud actually held and how many people still think that is um that is that is bad and I think media and whoever is behind that or whoever thought this was the easy way to populate it has done a great job in manipulating Society and saying well energy consumption is bad and Bitcoin is super bad as well but by the way why don’t you continue drying your clothes with a tumble dryer yeah and I’m bringing this example because um eventually we as human beings are consuming more energy for drying our clothes in a tumble dryer than we’re actually consuming with Bitcoin and if I asked you Brandon what would you rather invest your energy and and time and you know wealth on would it be saving five minutes hanging up your clothes and wearing them 12 hours earlier because they dried in a machine versus everyone on the freaking planet be them black white yellow male female whatever in between have access to money and Financial Solutions and a monetary system what is it worth like what is it worth spending the money on are you looking for the best way to store your seed phase well I’ve got it for you it’s stamp seed they’ve got the number one punch place where you can order a fullon packet where they’ve got every single thing they’ve got all the letters you can just get it in there and they’ve got this sick sick Hammer which they’ve engineered to make it so easy for you to punch in that titanium steel plate and store your seed phase in the most secure way possible so go ahead and get your Bitcoin off of these exchanges and use promo code green candle for 15% off they’re helping power the show they’ve got the uh Bitcoin logo you can punch it into your seed phrase as well if you could see it here they’ve got a lot of cool stuff and now I’m helping Empower you to get your Bitcoin off an exchange utilizing stamp seed and storing your seed phase in the most secure way possible now get to it all right back to the show yeah any it seems like a no-brainer too and right like I mean a big a big fud too is that uh you know it uses too much but in the US Christmas lights right I mean they bring they bring joy for that one month of the year but uh that one month consumes more energy than than Bitcoin miners do globally so um you know I think Bitcoin encourages the use of renewable energy as you said but I mean I think it all kind of comes back to you know the law of conservation of energy right it’s like it’s not like we’re going to run out of energy right I mean it’s like energy cannot be created nor destroyed so if we could just utilize it utilize it effectively like you’re saying and utilize it for a cause that you know we can be multi-purpose I know people that use um Bitcoin miners to Heat their homes uh so opposed to you know just plugging in a heater and then getting that heater you’re getting a little bit of money back and contributing to the most sound Network there is so you know I just don’t really understand that those benefits and they try to you know site things like thermodynamics or everything but they’re forgetting that first law of law of conservation of energy I mean it’s just it seems like a no-brainer but hey you know I guess we can’t really get to them uh eventually but you know with all that right um with a lot of the fud that you’ve been facing what are some of the most exciting like uh Innovative projects that you’ve seen in the energy industry that Bitcoin mining has kind of pushed towards that because I mean obviously you’re in Europe there was like kind of rumors floating around that Europe was going to get in an energy crisis especially at the beginning of this Russia and Ukraine conflict that we got going on so um you know what are some innovations that you’ve seen and maybe like some that you’re even working on right now well I mean I I unfortunately we can’t come up with or or no we could there’s some there’s some great mining operations in Europe but compared to United States or to uh Asia Russia like or even South America we’re still a very small light I would say um and um but in general the um number one I think is curtailment which everyone has on top of their mind if energy is needed by participants in the in the grid be during a storm or excessive heat uh turning on and off and basically as a Bitcoin miner being able to provide energy when it’s needed somewhere else that is the number one Innovation that miners have been very very proactively uh supporting the grids with yeah I would say um a second one that is um very very cool to see in rural areas is um to to build out uh small Hydro power plants or small solar or small solar wind power plants that are built in in areas where the the the village the community could not could not um afford the power plant themselves but in combination with a minor who is taking the base load energy or a a a larg amount of energy um can actually fund the the project and give them all electricity which is the buildout of of of energy sources and electrification of rural areas um so th those are two two things that I think are um working now quite well and have been a let’s say story or narrative for a while but are now seeing real application which is fantastic um and and another one which we also um do ourselves is actually and you just said it very beautifully um energy doesn’t go away it doesn’t get destroyed it just transforms itself basically and what what we’re trying to do is we’re trying to look at things from a circular economy perspective so we’re taking renewable energy uh specifically hydrop power we love hydrop power uh very stable U very like large amounts available and um we we take it we mine Bitcoin and then we actually reuse the Heat and drrive Bitcoin mangoes and uh are you know thereby transforming the the energy not only in SATs and in Bitcoin but also in some nice juicy mangoes yeah and um these are really really nice they taste very good um people are super happy we’re not using any additional energy other than our human or human capital or human power to to you know uh wash them cut them slice them dry them and then they’re sitting there between 12 hours and three days depending on what kind of like kind we want and we’re even we’re even preventing two and a half point two 2.5 tons of CO2 per up and running megawatt of Bitcoin mining uh capacity where we’re reusing the excess heat and and I think this is a a model which we will see more and more in the future um be it for warming houses or you you mentioned B bathtubs I I think earlier or no you yeah you me you mentioned the house and I was thinking of the New York bathtub yeah um so or or drying Foods yeah drying fruits to beef jerky whatever and everything in between um and I think we’re going to see more and more of that um and it’s not only that that it decreases CO2 emissions because it like when you dry this usually you have like uh either in countries like you know where bukina Faso where they dry mango or produce mangoes and so they even burn Woods to to then dry them um or they in Europe use uh drying ovens which are also consuming quite a lot of energy um that is very often also not coming from renewable energy sources so by reutilizing the heat we’re not only saving or preventing CO2 but we’re also in addition adding an add another Revenue stream to the company which allows us to mine Bitcoin even cheaper and to also navigate volatility in the Bitcoin mining um or or in the Bitcoin prices and and the hash price index so the these are these are things that that I could think of right now and I think there there’s there’s probably plenty more uh that that are coming up and it’s super exciting and I think as as as we all know Bitcoin and Bitcoin mining is uh one of the best examples for free markets and and real real like um co-option you mixture of cooperation and competition that you know Sparks Innovation and we’re we’re super excited about it no 100% And I agree yeah and it is as it is a bath house in in New York City I believe that uses it it’s like a steam room that’s been using uh that’s been using I haven’t been able to get up there to New York and check it out but I need to I mean it sounds like it would be a pretty cool experience to go out there but I mean a ton of innovation right I mean I know of companies developing water heaters um to do that for houses and everything like that I mean I’m in Florida so I mean it’s hot as right now I don’t I don’t necessarily need any extra heat right now but I mean I need hot water right I mean I I or I would like hot water right I mean and uh you know I I think that that would help a lot with um you know people all over the globe every single home needs needs heat in some way shape or form and so I think that’s where the next Innovation is going um but uh you know do you think that there’s going to be some sort of a I guess a battle right because like you know there there is the The Narrative of the plug-and-play miners do you think that that’s going to be uh you know I guess sort of dead in the future where simply you know you’re not trying to maximize the most use of your energy you’re going straight Off the Grid you’re just your Miner into the wall or maybe having some sort of facility do you think that that’s going to be longer uh or that’s not going to be around much longer and that you know you’re going to need to find ways to innovate kind of like what you guys are doing in some of the ways that you mentioned previously I I personally think that um this this could be the last cycle in which we have pure miners um and moving forward I I truly believe that uh with the increase of competition um thinking of additional reeven Revenue models is going to be crucial for Bitcoin Miners and or obviously large efficiencies and um you know economies of scale so it is one of the most competitive markets that I’ve ever been in and if not the most competitive and and it’s um I I think um one of the ways forward is to add additional revenue streams yes well where do you think like that the Innovation so you talked about the Innovation on like a global scale right I mean um outside of the things that I mentioned do you think that that’s going to be maybe more of a an Innovative uh mining is going to be more Incorporated in like the Home Building side of things have you seen anything like that are you curious on on that side of things are you looking more at like uh I guess more industrial applications I personally think that um more and more uh uh companies that are either producing um products or are also utilizing large amounts of energy but not using them base load but only on and off during weekdays or working hours are going to look into number one producing their own energy and then number two using the excess energy to also mine Bitcoin on the side um I I think that’s going to be uh or I could imagine that being a development at least that’s what I would do if I would was running a paper mill or whatever uh steel production kind of thing um and I also think that it’s going to be integrated with um with with large players be it um um large um oil gas and oil companies um where they can you know making use of fracking uh uh gases or or methane burning um to to then um use the energy twice basically that they’re Gathering or the the process that they’re doing doing it twice and I also imagine that um it could be found in in in governmental in in institutions or Realms where governments are combining Bitcoin mining data centers with their uh data centers where they’re operating AI or or other blockchain Technologies which we will be needing and using and seeing in regards of Home mining I I personally love the tools around you know your own heater and 21 energy has is a German yeah European company that has a very very nice product that heats your house um and I think they will continue to exist I think it makes sense to implement those kind of products in in in Daily um um you know daily use and whatever do I think they are going to be there for making money not necessarily they’re going to be you know I think it’s small amounts that you can do either with these heaters or with uh applying them into your home and eventually it does take quite some maintenance and repair and cleaning so minor is not just plug them into the wall and let them run and it runs forever it is a little bit more complicated than that and I I think that not everyone on the world is super excited about spending their free time with with those kind of you know technical things I mean how many people are running a note uh at home um that that are actually bitcoiners very few to be fair so um I think there’s still going to be this this you know this level of man I I have this free time and I don’t want to and I’m I’m working in my Fiat mining job and when I didn’t have my my free time I don’t want to do this and that so so I I think I think we’re going to see more products and more Innovation happening there and I think it’s great and it’s it’s also a way to introduce people to bitcoin um and obviously we’re looking much more on the industrial scale and uh um professional mining Innovation where we think it’s the combination of supporting the grid buildout supporting net metering and grid balancing retail and and adding uh additional revenue streams by reutilizing the Heat maybe one day we’ll be utilizing the sound and you know make some nice techno music out of the sound with a sound manipulator that then takes the the constant and and and you know tweak and tweak there and then make it some nice samples to be whatever integrated in DJ sets uh so who knows but but I think we’re we’re we’re very interested in doing R&D in that direction yeah are you looking for the easiest way to get your Bitcoin off an exchange well I’ve got it for you is the foundation devices they’ve got the number one 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XYZ and you’ll get $10 off your entire order all right that’s enough for me back to the show yeah I mean the the DJ sounds is an interesting little play there man it is Friday that we’re recording this so maybe I’ll have to uh tell my friends to get on the DJ booths or something and spin something up for us but uh you know I mean yeah there’s a lot of great and exciting times uh exciting things happening in the Bitcoin mining spacee energy and all that kind of stuff but um we mentioned at the beginning of the show The having right I mean it seems like that’s a big event um you know for Bitcoin miners in general right what so uh I’ll leave it pretty broad here like how do you view the having um and uh yeah like is it positive negative like as a minor like kind of how that how did you view it and how did you prepare for it I mean look we we we know um about the hings like when they’re going to happen uh about since 2009 or eight basically so I I think it shouldn’t be a big surprise for everyone um that that um they’re happening and um what we did in in advance is the the Bitcoin mangoes also came from the idea okay how can we prepare for uh housing and revenue and 100% same cost basis so we experimented with that and and tried to add another Revenue stream um so that that’s one number two we uh we added additional capacity uh right around the Haring with newer machines that’s the second one and the third one is with one of our sites we we actually now are experimenting with crment with a um like about 85% uptime but um um um much much lower energy prices which we get for that uh so those are the things that that that we have been uh playing with and working with we’re also working um with you know I don’t know if you hear that I hope not but it’s like I’m like damn dude Sasha what are you doing out there man they’re coming for you huhuh no man I’m living on this uh huge Street here right in Berlin and we have this corner apartment where you can basically hear the um um yeah the sound everywhere in all the times Valentine is actually now supporting me with closing the door here yeah I mean you know it’s funny dude uh we’re talking about Bitcoin and you know they’re coming at people for all these privacy stuff so maybe I don’t know sending the cops after you or something you know maybe maybe they found my little mining Farm in the basement you know exactly exactly at at 37 Cent sent not to not profitable but uh I just do it for the tech you know yeah there you go you do it for the for the network right but we were talking a little bit about the having right so you KN obviously you knew it was coming and everything you’ve been preparing for it so that’s why you guys started the mangoes um but yeah I think that’s where the before the sirens cut you off yeah yeah sorry for the distraction no but um so so so that that was clear for us and then um what we also did I mean one of our main or or the main goal of green mining Dow is also to provide uh people with access into a real world Bitcoin mining opportunity that uh gives them profitable returns in Bitcoin so what we did is we just around a having actually started with our green mine free our first site in Paraguay um to to actually uh speak with investors there and raised funds from $5,000 on and um basically gathered uh uh funds and and and also you know uh closed that round around end of or or actually just around the Haring um so we actually have Capital to deploy we have energy um that that we can use to um U plug in the miners and we’ve been experimenting with additional revenue streams which also was very successful um and then last but not least we we were’re also looking in uh the newest uh mining equipment Innovation or innovation and mining equipment um I and that’s actually when the sirens came uh and we’re also uh you know tuning Our our machines so we’re also working um on the on the firmware of the machines to uh decrease energy consumption and increase the hash rate which has been working quite well for us with about 14 to 17% efficiency Improvement uh so those were the things and it’s it’s it’s it’s a it’s a highly complex topic right and I I often tell um um investors and community members um before they join when they’re saying okay hey man I want to M with some miners can I buy 10 Miners and host them with you um or or do it myself I say yeah I mean we don’t host that’s not a business that we want to do because we’re aligning businesses and we’re aligning the interest of our investors with ourselves and our customers are investors um um but if you do it yourself it’s more than just plugging the minor into the wall uh and you’re most likely going to have uh quite some headaches and uh so and that comes from it’s complex there’s a firmware on the machines that you can manipulate and tunee there is uh um like three or four big portions of the minor that that you need to keep in shape and that you need to repair replace and and so forth um and and then there’s a topic about geopolitical challenges um um getting cheap energy and you know all all the stuff around it so long story short I think the the the preparation for having and and and looking at it is a more more more or or yeah multifaceted um and last but not least your question what do I think about the housing man I think the housing is the number one thing that makes Bitcoin um um valuable yeah so it’s it’s a must have it’s there’s no option around it are you looking for the number one place to find all the information you can about Bitcoin whether it’s price whether it’s hash rate whether it’s the latest up to-date things outside of Bitcoin whether it’s nation state adoption what have you well I’ve got the place for you check out Bitcoin news.com they’ve even got the number one newsletter in the game when it comes to bitcoin because it gives you all the up-to-date information on every single thing that happened in the past week that’ll come to your inbox every single Monday morning you could sign up using this code right down here or this link it’s also in the show notes so come join me and thousands and thousands of other people that are getting the most up-to-date information from bitcoins.com and their newsletter all right let’s get back to the show yeah and I agree with you there too I think like the digital scarcity aspect of Bitcoin is just so highly under underrated and I don’t think that the human mind can actually comprehend something as scarce as Bitcoin because you know it just like we just think like there’s you know you can make an infinite amount of anything really right I mean it just I don’t know that’s just kind of like the mindset and especially right right now in times where we want everything as quickly as possible and things like that you know uh trying to get uh having the longtime Horizon that Bitcoin forces you to have and and all that kind of stuff I think like really changes the Outlook that we currently have so I think you know like you said the having is is uh you know one of the greatest in Innovations of all time and I think that’ll it’ll go down in history as that um but um you know we were talking a little bit about uh you know just the overall like having and everything like that um but with my Innovation right I mean I know that there’s there’s that and the geopolitical risk so I want to get into those two points that you brought up how do you balance uh the potential of geopolitical risk with also like the benefit of getting cheap energy like how are you guys evaluating those things and uh yeah kind of kind of looking at it that way yeah I mean that’s that’s a that’s a great question yeah um because there there’s countries that are um more developed and energy prices higher and then there’s countries um that are less developed and and and and uh assumed to be more risky uh with lower energy prices and I think uh it’s a portfolio game yeah I I learned one major thing from my father or many actually but uh one thing that I always remember with Investments is um every like the best strategy and the only strategy is diversification so I think um to put all eggs in one basket is probably the most risky um thing to do in in in in in life and as well as in mining um and that’s why we’re also interested in expanding towards many uh many locations and the concept of green mining Dow is to run multiple um locations and multiple facilities in different uh areas of the world so far we’ have worked in Asia Middle East and uh South America uh we’re looking to expanding uh into two new uh regions over the next uh um 24 months and um what we usually do is like a foral risk analysis so obviously we look at the things um that could happen um in the country geopolitically economically um but also from a ecological perspective um um stability of grids of energy um providers um what is the risk factor in regards of um manipulation and Corruption um so so there’s there’s multiple um um components of a risk analysis that we’re looking at and luckily enough we have um a few very experienced investors with with global um um um with with Global Experience in in company building um so so that’s what like the group of people that we often lean lean on and and and and turn towards to to uh be connected to then people inside of the country and what I personally always do is I go there yeah so after looking at it from on on a on a screen or on a piece of paper speaking with some people over the phone I think nothing works better than going there meeting the people and and and just spending some time in in the respective places speak with the potential partners and and players and then really um um yeah make a decision and I think um depending on where you like which which factors you weigh more um you will either come to the conclusion to go to a risky country or not yeah I think that’s that that’s always a um a waiting question and everyone has their own let’s say um yeah preferences um I I personally think and then it’s also very interesting maybe uh I personally think that that if that done right countries like for example Paraguay is a good example and and maybe even Ethiopia um that are you know developing countries but have excess amount of energy right now and are even um um proactively supporting regulation um for for Bitcoin mining are maybe even a better selection than developed countries as of in Europe yeah just make an example we started the Venture um green mining Dow actually with the idea of setting something up in Ukraine yeah where we plan to work with um solar energy uh providers and then balancing the grid using U only certain portion of the solar energy throughout the day um letting the rest go into the grid and then using the rest throughout the night and we thought this was a safe play and a secure you know um um location to do it um to only notice that a few weeks later and I’m really talking weeks uh after we signed the LOI there um that that Russia invaded Ukraine so and you know we all think oh yeah Europe is secure and safe and this and that but um I and yeah so that’s one point right and um and and then the second one is if if we talk corruption I I I had to laugh the other day because I think in Europe and in the Western World we call it lobbying but in other countries we call it corruption but it seems to be very similar and same so it’s um you know so long story short um your question was how do I how do I what is our approach to assessing risk we’re we’re very very um forough on assessing risk from all perspectives because we’re eventually going there with our own money and investors money um and we’re always building up local um local Partnerships and a local presence and only if we’re 100% sure that the risk reward ratio is is is good we’re going there yeah and I think that’s a good you know way to look at it right I mean like all right if you can’t get the cheapest in the world but use your machines right I mean what what’s the use of like making that that plant there but um you know you mentioned mining Innovation there it seems like there’s a lot of you know money that’s being dumped into that uh now I know you know a few years ago block mentioned that they were going to start to develop one it seems like that’s kind of been put on pause but you know bigger companies like Tesla and some others have kind of like hinted at getting in it but at the end of the day it seems like you know there’s a few players kind of getting in a few players that kind of run uh the Bitcoin mining industry so you know how do you look at it as as that like kind of getting the most up-to-date miners but also trying to get the most out of your machines um you know when you do purchase them yeah so first of all I’m not even sure if Jack’s project is really paused because I actually thought I just read the other the opposite in April where where it sounded like I maybe maybe actually I remember something wrong um but um I I think you’re probably better informed than I am that regards um how do I see it well I think we’re always talking and thinking about decentralization right um so we want Bitcoin also so that we can get away from centralized Banking and Financial systems and therefore it would be great if we also had more competition in the mining sector I think um because bit main just dominated the market for many years then you know micro BT came along and you know is also in the in in in in the play um but eventually it’s those two big guys uh at least for if if we talk about A6 and I think it would be great to see some more producers out there though eventually they’re being bought up by them uh so if if you go to mining disrupt in Miami and then you see a few people that are actually produce presenting their new brand and then you keep on asking oh yeah we’re owned by bid main actually so um that I think the the market is very small there and I think it would be great to see some more Innovation and I’m 100% sure that there’s going to be more Innovation and more um yeah more Innovation specifically on the chips I mean how how much smaller can they get yeah than than I think three nanometer millimeters but uh let’s see yeah um it would be great to see more competition um and on the other hand what I think is also interesting the distribution process has already highly developed and evolved uh since I bought the first miners uh when I when I really was oh my God can I can I hit the button can I can I send this this money to them um by now it’s actually you know the the trustworthy Partners um it’s it’s much easier to to pick the ones that um will deliver um it’s much easier to trust even used uh machines that are being sold um so I think that has already evolved rapidly and even even bitmain themselves is is becoming much more let’s say uh supportive and customer oriented uh lately than than they were many many years ago where they just said okay I’m going to sell this to the resellers and then leave me alone now we we have direct relationships with them we’re interacting directly with them and you know and and I think that the same is going to happen to the tech yeah uh I would be surprised if if it if it wouldn’t happen why would why would Tech Innovation not happen in the most relevant uh General innovation of our human society in the 21st century are you looking for the number one place to find all the information you can about Bitcoin whether it’s price whether it’s hash rate whether it’s the latest upto-date things outside of Bitcoin whether it’s nation state adoption what have you well I’ve got the place for you check out Bitcoin news.com they’ve even got the number one newsletter in the game when it comes to bitcoin because it gives you all the up-to-date information on every single thing that happened in the past week that will come to your inbox every single Monday morning you could sign up using this code right down here or this link it’s also in the show notes so come join me and thousands and thousands of other people that are getting the most up-to-date information from bitcoins.com and their newsletter all right let’s get back to the show hey that’s a great point and I think that that’s going to continue but we’ve been dancing around it this whole time green mining Dow right I mean you you work on it you guys do a lot of great things so why don’t you tell us a little bit about what you guys do outside of the mangoes because you know it’s around lunch time here man you got me a little hungry talking about these mangoes so what what do you guys do and like what makes you what’s your differentiator that makes you guys different and yeah let’s let’s hear it yeah thank you for asking I mean uh I I’ll ship you some mangoes definitely and and they’re super yummy yeah we have two kinds sweet and sticky and sour and juicy and um I’m the sour and juicy guy so uh we’ll make I think we’re in the same boat there brother I think the sour and juice I’ll make sure to send you some um so with green mining dow we’re building the first decentralized Bitcoin mining ecosystem based on a real world entity and a dow structure and combination and in a nutshell uh investors can buy into a Bitcoin mining facility and uh receive Bitcoin uh on a quarterly basis into their wallet uh um defined as dividends so um how it works is we enable people to become a shareholder in a swiss-based company that’s swiss-based company uh buys as6 and owns machines on their balance sheet and it runs a Bitcoin mining operation uh in combination of using renewable cheap energy to which we have access because of the size and the the time that we have been in the industry uh in combination with reusing excess heat to uh utilize additional revenue streams and we’re currently uh producing one Bitcoin um for around 40,000 in cost and uh using um obviously the spread to to to have a margin and that’s what our investors uh benefit from they don’t have to go and buy Bitcoin for 68,000 but they can actually become a shareholder in our company and and and earn Bitcoin at cost at production cost so so that’s eventually the the business model that we have and we allow investors to join from 5,000 Swiss Franks on and and and basically become a Bitcoin miner without actively doing anything and I think the USP here really is and and I have been uh uh I I’ve bought my first miners in 2016 um and and and being being hosted uh by someone else and you know being a customer um I know what works well and what doesn’t work well and when I was always frustrated was when I when I you know paid six seven cents per kilowatt hour or even more uh to find out that they purchased the energy for free or the half or whatever uh and that spread um was was not really you know um I I didn’t feel theel was brought up by them not even cleaning the machines and charging for every fan and so the spread between the energy how uh hosted mining compan is purching it purchasing it and then selling it is a big spread and um the same for machines yeah if you go on any page right now I could buy an s19 K Pro for $2,000 or more if I bought with a hosting company and very often they forc me to buy the machines with them but I personally go to bitm I buy it for a th000 1,200 $100 so that’s the that’s the difference that you can achieve if you buy in larger quantities if you utilize the relationships U with with suppliers and and and partners and that’s what we’re offering so we’re basically acting as a partner as an entrepreneurial partner who joins forces with our investors who doesn’t charge extra on the energy who doesn’t charge extra on the pricing of the miners and who doesn’t charge anything extra on the operational cost or land rent so we do everything at cost and the way we earn money as entrepreneurs and as as as as as Founders is we keep 20% Equity so everything at Cost we keep 20% equity and then the mine produce Bitcoin and if the mine uh or basically if you as an investor uh earn money we earn money if you don’t earn money we don’t earn money because we’re at the same level all holding Class A shares and and and therefore basically um benefiting only when the company is profitable so that’s what we do and I think that that’s what makes us special we’re also letting people um partake in in in decision-making processes and and and and so forth and last but not least uh we were talking about runes right earlier and about tokenization or runes and and fundable tokens what we do is the shares of the company um are actually tokenized and people can trade it so you can at any point in time if you said okay I’m done I was here for two years and I made every year 20 30% dividends or Roi um on on my investment I invest 100K and I got 20 30k back every single every single year um and after two years I want to sell it and then I’m selling it for let’s say a 2X in the in the token price because the company value appreciated well then you can do that on chain without doing anything uh and and without going to a notary or without going to a NASDAQ or anything and I think that’s also a big benefit because if you have your own machines where do you sell them yeah I don’t know Amazon Craigslist or eBay or that’s there’s no liquid Market really for that are you looking for the best way to orange pill your friends and family well I’ve got a way for you that’s got a little bit of a Nostalgia Factor I’ve got Bitcoin trading cards they’ve got the Genesis pack I’ve got an open pack right here sitting here where you can hand out a bunch of these cards with some great great artwork we’ve got tyranny we’ve got fear uncertainty and doubt right here the fud card so we’ve got a lot of great things to teach you a bunch of lessons about Bitcoin in the current space and they’ve even got some cool things of cool people even doing some stuff in the Bitcoin space I’ve got the Bitcoin racing card here even signed by my boy Chris Prime Time McKenzie so you can get all of that at btc-t c.com use promo code green candle you can get 10% off your entire order to orange pill your friends and family and collect some cool artwork of people that are doing some awesome stuff in the Bitcoin space and help spreading that orange pill around the globe all right enough for me back to the show yeah 100% now for for all that do you need the kyc or do you guys take kyc information to um you know have people like invest in your company and like purchase uh you know some shares and whatnot yes we do take kyc I know that um um um getting Bitcoin without kyc is fantastic and I’m I’m a fan of that as well um in this case you are not only investing in a store of value as of Bitcoin but you’re investing in a productive asset that actually produces Bitcoin right and um unfortunately it is law that if you run a company and have shareholders in Switzerland you’re obliged to know who your shareholders are at any point in time so yes we do have to do kyc and before you’re basically able to buy and sell the token uh you do have to do kyc and I mean right now we’re you know we for gm3 which is the third side we have concluded the first financing round um as of like two weeks ago and we just started the second financing round so we’re actually acting investors right now um with a 7.5% bonus that they get and um when they do it and while they do it and learn more about the company and about everything we do we then also after they signed the terms of investment asked them for a kyc which is eventually um a very small process and we’re not sharing this with anyone else um and and and they are in good hands with that yeah I mean it just seems like a nature of the beast at this point in time unfortunately so I mean you know I mean it’s just part of it right but um you know where are you guys available like can I can anybody invest in you guys or like is there is there some limitations of that right now because of you know some of the processes and things like that yeah so we um I’m available over WhatsApp I’m sure that it’s not what you meant but um no you can um basically um we have a list of countries that um from which we can accept uh investors we we basically we are um located in Switzerland and and that’s also our core Market that being said anyone in the world can um uh reach out to us and and and and join and participate there’s regulations depending on the country um how much um of a professional investor you need to be or or or or not to be um and and that depends on the country where the person is from which they most likely know better than we do for for each of the countries yeah I gota yeah so there should be there could be some limitations so like in the US for example you probably need to be an accredited investor if you know what that means yeah yeah I know what that means so that is a very good example from the US you you need to have a um disposable income of a million I think to to be that uh or or to have a certain amount of money that you’re investing on an annual basis I don’t know have I don’t have all the numbers in my mind but that is exactly those thresholds that I’m referring to yeah yeah so in the US um you know for those who don’t know it’s like a million dollars worth of assets outside of your own personal home and then you need to make like 200,000 a or I think or you could make 200,000 a year for at least two years uh consecutively so I mean I think they’re becoming a little bit looser on those standards but I don’t know we’ll see so hopefully like you know what with uh you know the way things are going that they’ll start to open this uh up for everybody right and then we can see people get more access to mining but um you know Sasha you’ve been very generous with your time I feel like we’ve had a outstanding conversation about everything that uh you know is coming up on the mining front why don’t you tell people where they can find out more about you and more about uh green mining down yeah cool well first of all again thank you so much for having me Brandon a really fun conversation um even late at night and lunch for you it’s I think it was a really cool cool conversation I really enjoyed it um you can you can find us at greenmin mining dow. um we I can send you the the address and maybe we can put it in the uh show notes I think that’s what what what people say to yeah and so green mining dow. um and again you can you the whole team is doxed and obviously we’re all available on on be it email WhatsApp or LinkedIn uh anytime reach out and if you want to buy some of these uh yummy mangoes you can get them at Bitcoin hyphen what is the minus in English again yeah or Dash or whatever yeah Bitcoin Dash what is it Bitcoin Dash yes. I think it’s singular Bitcoin D mango okay EXC me Bitcoin mango it’s right here Bitcoin D mango.com um but you can also find them on the green mining dow. shop so they’re available in both shops and but yeah you can just uh you can find the the the current investment opportunity green mine free on the website we inform about everything and if you uh if you like type or if you click apply now and enter the type form uh your name and and and how you would like us to reach out to you and maybe who refer to you then um feel free or then we’ll reach out to you and you’ll get all the information and data rooms and so forth and if you put green candle it in it as a referral then you get another 2.5% bonus oh there we go there we go that’s awesome stuff there I I like it man I like it so yeah we’ll put all that in the show notes so you guys should check them out and then uh yeah Sasha thanks so much man for coming on I really appreciate it thank you so much have a good time thanks so much for tuning in to this great episode if you enjoyed this one and you want some more content click on the link right here and check out my latest interview with Tom Luongo we get into it all if you’ve known Tom he’s a wild one so stay tuned and if you found some value in this podcast please smash that like button hit that subscribe button so you get notified of the next videos all right I’ll catch you at the next one
1 Comment
Very interesting, I want some Bitcoin mangos!