PEOPLE FOR CRYPTOCURRENCY RELATED PROBLEMS >> IS REALLY INTERESTED BECAUSE AS YOU OPENED YOUR ARTICLE, YOU START THINKING WOW, THIS IS REALLY NOT MAYBE THE IMAGE WE NECESSARILY HAVE AHEAD, THE FIRST EXAMPLE HAVING 300,000 COMPUTERS ARE GOING SIMULTANEOUSLY TO TRY TO MY KNEES BUT COINS
I WONDERING, AS WE TRY TO COME TO THE UNITED STATES, WHICH STATES ARE THEY REALLY TARGETING AND WHY? >> SURE, SO, ON THE ONE HAND YOU HAVE THIS GOVERNMENT OVER CHINA CRACKING DOWN EVEN SETTING UP HOTLINES FOR CITIZENS TO CALL INTO ESSENTIALLY RAN OUT IF THEY SUSPECTED ILLEGAL COIN MINING OPERATIONS ARE HAPPENING, THESE MINORS THE LAST COUPLE WEEKS HAVE BEEN LOOKING ALL OVER THE WORLD, ACTUALLY THIS HAS BEEN GOING ON THE LAST COUPLE MONTHS, THEY HAVE CONSIDERED MAYBE MOVING THEIR COMPUTERS, AS YOU SAY, THESE ARE ENORMOUS RIGS OF TENS OF THOUSANDS OF COMPUTERS WERE TOGETHER THAT CAME CONSUME ENORMOUS AMOUNTS OF ENERGY AND THEY CONSIDER, DO WE DO THIS IN RUSSIA OR CENTRAL ASIA? LET'S AMERICA? SOUTHEAST ASIA? WHERE CAN WE GO THAT WOULD HAVE SORT OF CHEAP ELECTRICITY? AND THAT WOULD HAVE A RELATIVELY STABLE ENVIRONMENT? AT THE END OF THE DAY MANY REALIZE THAT YES, THE UNITED STATES MIGHT HAVE ELECTRICITY PRICES THEY ESTIMATE ABOUT SIX TIMES HIGHER THAN CHINA BUT, THEY THINK THAT THE US MIGHT BE THE MOST STABLE AND SAFEST PLACE FOR THEM TO CARRY ON SOME OF THESE OPERATIONS ONE TOLD ME HE SENSED TENS OF THOUSANDS OF COMPUTERS
EACH OF THOSE CASES WHEN THEY SAW THE MACHINES CONFISCATED ARE TAKING AWAY, THEY ARE BETTING, AT LEAST AMERICA MIGHT PROVIDE A SEMBLANCE AT 40 STABLE IT'S ENVIRONMENT TO DO THIS >> THAT IS STILL IN THE CASE YOU POINT OUT THE CASE IN NEW YORK STATE THAT LAWMAKERS ARE CONSIDERING LEGISLATION THAT WOULD BAN NEW BIT COIN MINING AND CARBON PRODUCING POWER PLANTS, WHAT IS THE STATUS OF THAT TYPE OF LEGISLATION? >> RIGHT NOW WE ARE SEEING SORT OF A PATCHWORK OF REGULATION ACROSS THE STATE, SO, YOU KNOW, WE WERE ASKING EARLIER WHAT EXACTLY THESE LOCATIONS ARE CONSIDERED, BUT TO SOME WHO WERE THINKING ABOUT PLACES LIKE WEST TEXAS, OTHER PEOPLE ARE TALKING ABOUT PLACES LIKE SOUTH DAKOTA, TENNESSEE, UPSTATE NEW YORK, OF COURSE, THE REGULATIONS IN EACH OF THESE PLACES WE HAVE SEEN A HUGE FRIDAY, SO, CURRENTLY, THERE IS A DISPUTE IN UPSTATE NEW YORK BETWEEN PRIVATE EQUITY INVESTORS WHO TOOK OVER A FORMER POWERPLANT AND ESSENTIALLY THEY TURNED THE POWERPLANT INTO A BIT COIN MINE WERE TENS OF ERRANDS OF DOLLARS THIS GENERATED A DISPUTE BETWEEN THE LOCAL SIERRA CLUB AND OTHER COMMUNITY MEMBERS AND THE INVESTORS
WHICH LED TO DISCUSSION IN THE NEW YORK STATE LEGISLATURE ABOUT WHETHER THEY SHOULD BEGIN TO PUT A TIGHTER CONTROL OF THESE TYPES OF PIQUANT OPERATIONS WE HAVE SEEN LOCAL COMMUNITIES IN MISSOULA, MONTANA ALSO PASSED LAWS, SO, ON THE OTHER HAND, YOU HAVE TOWNS IN WEST TEXAS THAT ARE INVITING PEOPLE TO COME, YOU HAVE THE STATE OF KENTUCKY ALSO OFFERING TAX BREAKS FOR BIG REMINDERS TO COME, SO, YOU KNOW, WHETHER THAT SORT OF GETS SMOOTHED OUT BETWEEN THE VARIOUS JURISDICTIONS PROBABLY WILL TAKE A WHILE TO SHAKE OUT AND OF COURSE THE BIGGEST QUESTION IS SORT OF WHAT WE ARE GOING TO SEE FROM THE BIDEN ADMINISTRATION AT THE FEDERAL LEVEL >> I WAS JUST GOING TO ASK WHAT THE WHITE HOUSE ACTUALLY FEEL ABOUT BIT COIN MONEY, HAVE THEY TAKEN A STANCE ON THIS MIGRATION OF MINORS? >> FOR NOW, I WOULD SAY IT'S TOO EARLY TO SAY, WE KNOW THE TREASURY DEPARTMENT AND THE IRS AND OTHER GOVERNMENT AGENCIES HAVE BEEN BRIEFING THE BIDEN ADMINISTRATION ON SORT OF WHAT ARE SOME OF THE ISSUES AT PLAY HERE, YOU KNOW, WE HAVE HEARD FROM THE LIKES OF SENATOR ELIZABETH WARREN WHO HAS CALLED ON THE ADMINISTRATION TO TAKE A TOUGHER ATTACK WE KNOW OF COURSE PRESIDENT BIDEN HAS PUBLICLY LAID OUT SORT OF CLIMATE CHANGE AS ONE OF HIS BIG SORT OF POLICY AGENDA ITEMS SO, YOU WOULD THINK THAT THIS ADMINISTRATION MIGHT TAKE A SLOWLY TOUGHER TACTIC WHEN YOU CONSIDER THE ENORMOUS ENERGY USE THIS INDUSTRY SORT OF CHURNS THROUGH, BUT AT THIS POINT, I THINK THE ADMINISTRATION IS STILL VERY EARLY IN THE PROCESS OF ANALYZING ALL OF THE FACTS AND LAYING OUT A
