AI Just Bailed Out Bitcoin Mining | Bob Burnett

<p>AI just bailed out Bitcoin&#39;s public miners, and Bob Burnett says that is the healthiest thing to happen to mining in years. Liam sits down with the Ocean executive chairman on falling hash rate, who builds Bitcoin&#39;s blocks, and what the BIP-110 fork proved.</p><p><br></p><p>Guest: Bob Burnett, CEO of Barefoot Mining and executive chairman of Ocean. https://www.barefootmining.com/</p><p><br></p><p>BOOK A CONSULTATION</p><p>Holding Bitcoin for decades raises two questions: who protects it, and how it reaches your family. Onramp answers both. Three institutions protect it, and no single one can lose it, move it, or use it. Inheritance built in. Insured through Lloyd&#39;s of London. Speak with our team to see if it fits.</p><p>👉 https://go.onrampbitcoin.com/consult-fs-pod</p><p><br></p><p>GET ON THE LIST</p><p>• Onramp: our research, event invites, and the week&#39;s Bitcoin news in one free email. https://go.onrampbitcoin.com/research-fs-pod</p><p>• Early Riders Insights: the best content in the ecosystem, weekly. https://www.earlyriders.com/research</p><p><br></p><p>ABOUT THIS EPISODE</p><p>Bob Burnett was CTO of Gateway before starting Barefoot Mining in 2017, and now chairs the Ocean mining pool. He sorts miners into rabbits, horses and elephants, and argues the elephants&#39; rush into AI hosting is trimming fat that never belonged: public miners have fallen from roughly 38% to 28% of hash rate, and he expects global hash rate to stay flat to down for up to two years. He explains why mining is a commodity business that sells block space, why off grid power beats an on grid contract, and why five pools building 80% of block templates is the risk Ocean and DATUM were built to fix. It closes on Core and Knots, what the BIP-110 fork revealed about consensus, and why Wall Street and nation states will have a voice.</p><p><br></p><p>CHAPTERS</p><p>00:00 - Bob Burnett: Barefoot Mining, Ocean and The Bitcoin Boomers</p><p>03:52 - Rabbits, horses and elephants: the three classes of miner</p><p>07:07 - Why the public miners pivoted to AI, and why that is healthy</p><p>10:40 - Worst hashprice ever, and what AI pays for power</p><p>18:07 - Hash rate is falling: is Bitcoin&#39;s security at risk</p><p>23:24 - Used rigs at dimes on the dollar, and the next mining chips</p><p>31:00 - Wild vs captured: why the future of mining is off grid</p><p>38:09 - All of Bitcoin mining is a $10 billion business</p><p>40:32 - Miners or hashers: five pools build 80% of bl