비트코인 채굴 환경: 미국의 성장과 지속 가능성

### 미국 비트코인 채굴의 부상: 새로운 글로벌 강국
* ⛏ 미국은 현재 **전 세계 비트코인 네트워크 해시 비율의 34~35%**를 차지하며 중국을 제치고 단일 국가로는 가장 큰 채굴 센터가 되었습니다.
* 🏭 중국에서 미국으로의 전환은 **정부의 단속, 경제적 요인, 미국 채굴 기업의 회복력** 등이 복합적으로 작용한 결과입니다.
* 🌱 미국 채굴 산업은 점점 더 지속 가능성에 초점을 맞추고 있으며, 현재 채굴의 **40~60% 이상이 친환경 에너지원**을 사용하고 있습니다.
* 🔋 비트코인 채굴은 **지역 전력망을 안정화**하고 **재생 에너지 사용을 촉진**하는 데 도움이 되는 잠재적인 솔루션으로 여겨지고 있습니다.
* 🏗 미국은 **200MW가 넘는 대규모 채굴 시설**을 빠르게 확장해왔으며, **200MW가 넘는 사이트가 여러 곳**, **500MW가 넘는 사이트가 한 곳**이나 있습니다.
* 🇺🇸 미국의 규제 환경, 자본 시장, 기술 인프라는 모두 **비트코인 채굴 산업의 추가 성장**에 유리하게 작용할 것으로 보입니다.
* 🤝 채굴 기업들은 **서비스 센터와 글로벌 제조 시설 네트워크**를 통해 고객 서비스 및 지원을 강조하고 있습니다.
* 🎰 미국은 **채굴, 거래소 및 기타 관련 서비스**를 통해 글로벌 비트코인 생태계의 핵심 플레이어로 자리매김하고 있으며, 그 영향력 확대에 기여하고 있습니다.

미국의 비트코인 채굴은 빠르게 성장하고 지속 가능한 관행을 위해 친환경 에너지를 활용하는 기업들과 함께 번창하고 있습니다.

Good afternoon, everyone. How are we doing today? I'd like to share a number. 31. What is that number? 31 is the number of publicly traded companies that are engaging in Bitcoin mining as of today. That's quite a number, isn't it? Now let's delve a little deeper. I would like to see a show of hands, so here's the question: If you combine all these 31 companies' hash rates and compare them against the whole network hash rate, what would you come up with? I would like to see a show of hands. Who thinks it's more than 50% of the network hash rate? No one. How about 40 to 50%? No one. How about 30 to 40%? Oh, quite a few. 20 to 30? 20 to 30 might be the one, yeah. Less than 20? Okay. I see half of you hesitated to raise your hand, but you'll see the answer quite soon. All right, um, let me try to get this to work. Oops, uh, someone help me. That worked. Okay, our something about our company. So we went public in

2019 as one of the first blockchain companies that ever goes public, and I joined this company in 2021. Back then, I was working in China on capital markets with other companies, and I got tired of all these lockdowns in China and wanted to come back and reunite with my family in California. Kanan was looking for someone to represent on the capital market side, so it was a perfect match, and it's been 3 years, and um, I can't be more happier. All right, so um, so what's Bitcoin mining anyway? Some people say Bitcoin mining is just a game, some say it's a gamble, but I would say it's more than that. If you look at freedom, financial freedom precisely, you need something to help with that, right? 'Cause freedom doesn't come free. So, network hashrate is ever getting larger and larger and distributed and decentralized. So, by mining Bitcoin, you actually prevent someone from attacking the blockchain, preventing people from a monopoly, and helps the company and everyone gain Bitcoin with the ease of mind, right? So,

There are four pillars of mining: capital, operations, miners, and energy. These four pillars work together to make a sustainable and profitable Bitcoin money so that every one of you, of us, will be able to mine and consolidate the Bitcoin mining blockchain. So, let me talk about a little bit of history, right? So, before Bitcoin mining moved to the United States, it was part of Chinese business. In the summers and springs, miners mined out of the strayed hydroelectricity. But when the water level goes down, they move the miners over to hundreds of miles away to mine them with coal power. So, they were, I call this migratory mining. What's interesting about that is Bitcoin mining back then was no, it's very, very different, right? Like, everyone is looking at it as a business for sure, but because it's founded by friends and family, people are looking for immediate income. So, if they feel that the Bitcoin price is going down, their immediate reaction would be to sell the coins and the miners and get out of the game. That's the reason why we see in the old

days the network high rate goes up and down together with the Bitcoin prices almost immediately. It is very different now since 2019. Even before China completely banned Bitcoin mining, the China stake in the world has decreased from 2/3 of the network to 1/3 of the network in about less than two years, right? And the United States has increased from 4% to 24%, which is a big jump. What happened? One side of the story was that the Chinese government started to slowly wrapping down the Bitcoin mining, and miners who got really rich in 2017 by hiking up the Bitcoin price actually wanted to stay under the radar a little bit because, you know, Bitcoin trading, crypto trading have been largely banned in China, and that made them very difficult to sell Bitcoins. So, the hash rate never recovered in China until recently. In the meanwhile, American miners have gained a lot of capital because of the great hash rate, great economics of Bitcoin. Companies like R and Marathon started raising capital from the capital market since 2017, and that

process accelerated in 2019-2020, and also there was over one year of Speedman's internal conflict, followed by the pandemic and a harsh reset in China by the complete ban of Bitcoin mining. So, that all added up to a very favorable economy for Bitcoin mining. In the end, we all know that people got crazy about Bitcoin mining, and a lot of people started to accumulate leverage, you know, buying miners that didn't even exist, or that, you know, they didn't even have a place to put them. So, starting from 2021-2022, the hash rate started to climb up, even over a bear market, and a lot of companies went into trouble after the bear market, but US companies are very resilient. They learn quickly, they recover from the downside, and you know, all of a sudden, we have the strongest network hash rate among the globe. We're not just building the largest, but the strongest practice of Bitcoin mining here. As you can see, the United States hash rate stayed very stable, whereas the global hash rate

actually, are pretty speculative. When Bitcoin price goes up, it increases, but if the Bitcoin price stays flat, the global hash rate sometimes even decreases. But the United States is very consistent. That's why my answer to the question I answered in the first place was 35-34% as of the end of last quarter, right? It's quite surprising. And now, US Bitcoin mining experience has grown quickly. A lot of companies are coming out with different Bitcoin mining practices. You know, in the beginning, when a lot of high moved to the United States, the market wasn't ready. So, there was mining off the grid, on the grid with ground energy, natural gas, some repurposed facilities. But now, it's over 40%, even 60% green energy, calment on the grid, consolidated. And a lot of the publicly listed companies are coming out with larger and larger mining sites. These are the numbers from the US Energy Information Administration (EIA). So, if you look at it, we have one mining site greater than 500 megawatts.

five mining sites greater than 200 megawatts, five more than 100, and nine more than 50. If you consider three years ago, it's even more. It was even difficult to find what mining site is larger than 50 megawatts in the United States. So, we have gone a long way in Bitcoin money and becoming a very plausible industry. Bitcoin mining also helps regional grids. If you look at the narrative here, the US power outage is actually increased in the rapid range. You know, we have 40 to 50 years old infrastructure where there's power or substation or power lines that is not designed to accommodate very accurate climate changes. The recent six years outage doubled compared to six years ago, but Bitcoin mining seems to be a great solution to help with the grid. It increases the technology applied in the grid, whether it's green energy or efficiency energy or, you know, just a very flexible load. So, mining as a very flexible load is actually very

helpful because you can shut it down if you need it. So, it in turn helps with the green energy development and also increases the green energy usage. And you know, for some states, the Cod re refuse recommendation is also a great way to get rid of all these use code, and it also provides benefits to communities and infrastructure. So, I would say, you know, despite the negativity in the news, green energy and Bitcoin mining actually play hand in hand very well. And I see most of the governors and politicians start to treat Bitcoin mining as a great way to help stabilize our grid and our energy. And I would say the US system actually is perfect for Bitcoin mining as an industry. We have the Constitutions and legal protection for individual freedom, including crypto freedom and mining rights. We have capital markets that are very developed and encourage growth. Growth is actually the name of the game, so public miners will be able to raise a ton of capital, expanding and gaining more and more shares on the global network. And also, there is this federal

and state two-level setup, which means even though there are states that are not so favorable towards becoming money, the miners can always learn from the lessons and find the favorable states and concentrate their Bitcoin mining experience. More and more states are learning from other states to change their policies and to help their local grid, so actually, it is a very developing system. Mining equipment is designed to accommodate the changes in this industry. We help our customers, including cyber mining and some of the other public listed companies, to optimize their operations. We have great machines with very low maintenance, great durability, and great high consistency in extreme temperatures. Our global services are just everywhere, and we put a great emphasis on the US services. We have service centers in North Carolina, Louisiana, California, and Texas. We have four warehouses across the globe and two global factories in Malaysia and China. We try to build out a very responsible and responsive mining manufacturing business, helping our customers to become stronger because we believe in a very simple philosophy: our customer's success is our

success. Now we are seeing evolving a resilient USB Co mining ecosystem, from mining solution to mining pool, from exchanges to the miners themselves. I would say, you know, the United States is getting stronger on every single aspect, and we're proud to be part of the ecosystem, providing services and innovations to help everyone. We try to be a very responsible party, treat people with respect and honesty, and help us grow together. That's my speech. Thank you for coming, and please enjoy the rest of the conference. Do drop by our booth, which is number 916. Thank you so much for coming. Thanks. [Music] [Applause] Next year, we are bringing the Bitcoin conference to the American West, Las [Music] Vegas. The brightest in the world will converge to deliver Bitcoin history. Buy your tickets now at B.C SLC conference sl202.

Opportunities & Challenges for Bitcoin Mining in the US w/ Leo Wang

Bitcoin Magazine is the oldest and most established source of news, information and expert commentary on Bitcoin, its underlying blockchain technology and the industry that has grown up around it. Since 2012, Bitcoin Magazine has provided analysis, research, education and thought leadership at the intersection of finance and technology.

Bitcoin Magazine

상장 기업이 비트코인 채굴에 미치는 영향

현재 비트코인 채굴에 관여하는 상장 기업은 31개입니다.

이 회사들의 해시 비율을 모두 합쳐도 전체 네트워크 해시 비율의 30%를 넘지 않습니다.

비트코인 채굴은 네트워크를 탈중앙화하고 독점을 방지하며 재정적 자유를 제공하는 데 중요한 역할을 합니다.

비트코인 채굴의 네 가지 축은 자본, 운영, 채굴자, 에너지이며, 지속 가능성과 수익성을 위해 함께 작동합니다.

비트코인 채굴은 처음에는 수력 발전과 석탄 발전으로 중국에서 번성했지만, 이후 미국으로 옮겨가면서 2년 만에 전 세계 네트워크에서 차지하는 비중이 4%에서 24%로 증가했습니다.

중국 정부의 비트코인 채굴 단속과 비트코인 판매의 어려움으로 인해 해시율이 하락한 반면, 미국 채굴자들은 기회를 포착하여 2017년부터 상당한 자본을 조달했습니다.

비트코인 채굴은 2019년부터 2020년까지 내부 갈등과 팬데믹, 중국의 채굴 금지 조치로 인해 급격한 성장을 경험했습니다.

약세장에도 불구하고 미국의 비트코인 채굴 해시레이트는 안정적이고 탄력적으로 유지되었으며, 결국 전 세계에서 가장 강력한 해시레이트가 되었습니다.

채굴 산업의 성장은 친환경 에너지로 전환되었으며, 많은 기업이 대규모 채굴장을 운영하며 채굴 방식을 통합하고 있습니다.

비트코인 채굴이 미국 에너지 그리드에 미치는 영향

미국의 비트코인 채굴장은 크게 증가하여 현재 200메가와트를 초과하는 곳이 많습니다.

채굴 산업의 성장은 지역 전력망을 안정화하여 유연한 부하를 제공하고 친환경 에너지 사용을 촉진하는 데 도움이 되고 있습니다.

미국의 법적 보호와 발달된 자본 시장은 비트코인 채굴을 위한 이상적인 장소이며, 비트코인 채굴의 확장과 성장을 이끌고 있습니다.

진화하는 비트코인 채굴 생태계

비트코인 채굴은 서로에게서 배우고 더 유리한 영역에 노력을 집중함으로써 불리한 상황에 적응하고 있습니다.

이 회사는 글로벌 서비스와 책임감 있는 제조 사업에 중점을 두고 내구성이 뛰어나고 유지보수가 적은 채굴 장비를 제공합니다.

미국은 비트코인 채굴 생태계에서 더욱 강력한 플레이어가 되고 있으며, 혁신적인 솔루션을 제공하면서 고객을 존중하고 정직하게 대하기 위해 최선을 다하고 있습니다.