Part 12/16:
Efficiency and resilience are key themes. Nick and Matt note that many miners are focusing on optimizing operations, upgrading firmware (such as Luxor’s custom firmware that unlocks additional features), and developing hedging strategies to survive market downturns. Some companies are prioritizing quick ROI over long-term efficiency, deploying less efficient hardware if it promises faster returns.
They mention that the industry has faced numerous bankruptcies, often tied to poor contracting, over-leverage, or delayed equipment deliveries. The importance of managing operational and financial risks simultaneously is emphasized, with tools like performance bonds, collateralized loans, and diversified geographically distributed mining farms.