We meet Youwei Yang, Chief Economist at Bitcoin Mining [NYSE:BTCM] and discuss the cryptocurrency mining industry, how BIT Mining faces the challenge of reducing their carbon footprint, and why financial institutions are increasingly interested in crypto.
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00:00 Intro to BIT Mining
01:06 The company's services
02:10 Is crypto mining as profitable as it used to be?
03:01 What is a mining pool?
04:20 How important an asset is BTC.com?
05:37 Data centres
07:16 Hosting miners for other companies
08:35 Energy usage and BIT Mining's power mix
10:41 Acquisition of Bee Computing
14:03 Dogecoin becoming more serious
15:42 The effect of Litecoin halving
18:02 Varying computing power according to crypto prices
21:23 The BIT Mining share price
22:56 Why buy shares in a crypto miner?