Interview | Description | Timestamps | Show Notes

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Location: Miami
Date: Monday 7th June
Project: Griid Infrastructure
Role: WP of Strategy

Bitcoin mining has been subjected to a considerable amount of criticism over recent years, but the number of articles disseminating misinformation has exploded over the last few months. 

Almost every mainstream media outlet has shared ill-researched hit pieces, and several hugely influential figures, from Elon Musk to Elizabeth Warren, have publicly questioned its energy usage. 

While the conversation about Bitcoins energy usage is worthwhile, almost all of the criticisms come from a misunderstanding of Bitcoin and the energy sector. However, the reach of these articles is widespread and potentially damaging. 

To address this FUD, I talk to Harry Sudock, the Vice President of Strategy at Griid. We discuss the energy consumption of Bitcoin mining, energy generation & the power grid and the case for renewable energy.

00:05:02: Introductions
00:06:23: Miners' journalistic critique
00:08:25: Harry and Griid Infrastructure
00:13:28: How energy works
00:17:55: Wastage and the energy system overbuild
00:22:35: How the grid works
00:27:04: Selling energy to the grid
00:32:26: Mining and the double standard
00:34:22: How miners buy energy
00:43:00: Price scale of various energy sources
00:48:31: The issues surrounding nuclear energy
00:57:04: Solving the coal problem
01:01:31: Other environmental considerations
01:04:48: Life before the internet
01:06:25: Energy overproduction
01:08:43: Bitcoin and energy
01:11:06: The Mining Council
01:12:34: The future for Griid
01:14:44: Colocation with energy producers
01:16:28: COVID-related supply chain issues
01:18:00: Bitcoin mining is a blue-collar business
01:21:22: Harry is bullish
01:25:43: DeFi and Ethereum
01:27:17: Final comments

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Connect with Harry:

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Mentioned in the interview:

• Noahbjectivity on Bitcoin Mining. A response to Noah Smith | by Nic Carter 

• On Bitcoin, the Gray Lady Embraces Climate Lysenkoism 

• Nuclear Power is the Most Reliable Energy Source and It's Not Even Close

• How the Polar Vortex Affected Energy Markets in the Midwest 

• ERCOT asks Texans to reduce electricity use after issuing conservation alert

• Power purchase agreement (PPA)

• Elon Musk says Tesla will accept Bitcoin payments again once miners use 50% clean energy 

• Anonymous Message To Elon Musk 

• Low-carbon power 

• Bitcoin Uses Less Than 50% Banking Energy 

• Bitcoin Magazine on Twitter: ".@jack on #Bitcoin's energy consumption:… " 

• Despite Pledges to Cut Emissions, China Goes on a Coal Spree 

Other Relevant WBD Podcasts:

• WBD358: Gradually then Suddenly Pt 1 - Killing the FUD with Parker Lewis

• WBD355: ESG, Tesla and Energy FUD with Lyn Alden

• WBD354: Bitcoin Has No Leaders with Dan Held

• WBD353: From the Petrodollar to a Bitcoin Standard with Alex Gladstein & Nic Carter

• WBD126: Michel Rauchs on The Bitcoin Electricity Consumption Index