Hey high net worth individuals out there - there's a gigantic arbitrage opportunity available right now. BTC is worth $7k per; oil is at $0 due to storage costs and falling demand. You can convert oil to BTC with two pieces of capital equipment (oil -> electricity -> BTC)
Sure - but the only variable cost is the power. You can resell the ASICs afterward and ASICs that are only profitable if you have free power shouldn't be that expensive.
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Yeah. Electrical inputs for BTC mining are already zero. It would make for a decent money laundering operation outside the US. But, I wouldn’t do it anywhere the IRS could find you. It won’t be powered by -$40/bl WTI.
End of conversation
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