The doors open to the entire Bitcoin Park campus at 8a CT.
Welcome to the inaugural Nashville Energy & Mining Summit 2023
Proof of work (PoW) is the technical and philosophical underpinning of bitcoin. Technically, proof of work is the mechanism by which new transactions are added to the bitcoin blockchain. Philosophically, it is the mechanism by which bitcoiners are able to demonstrate value within the ecosystem. It is critical to understand both in order to engage with bitcoin more deeply.
Bitcoin mining has been around long enough to have its own historical arc. From Satoshi mining on a CPU to billion dollar public market cap miners, the industry has come quite a long way. The purpose of this talk is to ground us in the industry history and set the stage for what is happening now and what may come to pass.
Bitcoin mining went mainstream and there are now more than 10 publicly traded miners operating in the US and abroad. Still there remain arguments that the best place to build these businesses are in the private markets where more creative energy relationships and lower cost reporting burdens help to keep the businesses nimble. This panel will discuss the benefits and challenges of building mining businesses in both venues.
60-minute break for lunch
ASIC's are the computers that secure the bitcoin network and consume all that electricity. But what are they? How does their supply chain work? How are mining companies deploying these specialized chips? You might not leave this session an expert, but you will be dangerous.
Insurance, financial hedging, energy management, and are all tools in the bitcoin miners toolkit. Each are deep rabbit holes that could have their own panel but today experts will talk about the current market options and how they or their clients are managing risk across different areas of the business.
20-minute break
Sourcing low cost power is a key function for all successful bitcoin mining operations. There are many paths to success, and one major fork in the strategic road is between "on-grid", typically utility metered and fed, and "off-grid", typically behind the meter, stranded, or otherwise bespoke electricity. On this panel you will hear about the pros and cons of each and come away thinking about how American infrastructure functions in more fundamental ways and how these digital wildcatters live at the bleeding edge in ways that will benefit us all.
Bitcoin miners have been starved for commercial hedging tools. Bitcoin assets and US Dollar liabilities opens businesses up to significant risks. The tools to manage these risks are starting to develop but the markets remain immature. What tools are there today and what can be built to better stabilize miners?
A few announcements to close Day 1
Enjoy drinks, appetizers, and a dinner buffet from local favorite, Edley's Barbecue.
We have chartered buses to take attendees from the Park downtown to Acme Feed & Seed. We have our own dedicated space and bar on the first floor.
https://www.acmefeedandseed.com/
The doors open to the entire Bitcoin Park campus at 8a CT.
Welcome back for Day 2!
Electricity powered Proof of Work serves the role of welder forging the bond between atoms and bits. But where do miners source electricity? Are they building just another data center? What makes mining play a special role all across our electric systems from methane molecule to nuclear reactor and everywhere in between?
The 2021 bull run brought hundreds if not thousands of bitcoiners into the mining space. Some entered through services offered by companies like River or Compass, but many others took a DIY approach filling garages and sheds everywhere with ASICs. How have these operations fared now that the waters are much choppier and the halving is fast approaching? What has worked well? What are some lessons learned?
60 minute break for lunch
Bitcoin mining, similar to gold mining, is a capital intensive process with highly specialized infrastructure. Methods of financing these endeavors are rapidly developing and often dictate how businesses survive, thrive, or die. This discussion will discuss equity, debt, and alternative financing structures for miners and some potential implications of each.
What does a flared gas mining operation look like? How is it similar and different to industrial mining? How do the cost structures compare? How big is the TAM for this business model? What kind of environmental impact will this have?
20 minute break
The mining sector is anything but static. Innovation on Lightning, Stratum V2, and Custom Firmware are all being developed and improved every day. This panel will discuss these areas of innovation, what it means for miners, and how this can bring the entire bitcoin ecosystem forward.
Thank You for attending! We have a few special closing announcements to share with y'all.