Part 10/16:
Pete and Nick express that mining acts as a form of "energy arbitrage," transforming surplus or cheap energy into valuable Bitcoin. Texas, North Dakota, and other US states are becoming attractive due to their abundant, low-cost energy—often from stranded or excess sources like flare gas.
They note how the China ban inadvertently highlighted the network's resilience, with miners operating from various global locations, reinforcing Bitcoin’s robustness.