Building an Institutional Grade BTC Miner
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Cofounder, Core Scientific
Search every verified Darin Feinstein interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Darin Feinstein, co-founder and chief vision officer of Core Scientific, has continued to describe Bitcoin mining as an innovation in accounting and energy infrastructure. In interviews and public appearances throughout 2022 and 2023, Feinstein characterized Bitcoin as the first major advancement in accounting in 700 years, describing its proof-of-work ledger as a "triple-entry" system that makes transactions immutable and auditable. He argued that the technology provides private property rights and banking access to billions of people living under authoritarian regimes or high inflation. Feinstein also emphasized that Bitcoin miners operate data centers housing computer servers, and he stated that the industry's energy use represents roughly 16 basis points (0.016%) of global energy generation, calling claims that the network would consume all of the world's energy "insane" and "over 99% wrong." Feinstein has been active in the Bitcoin Mining Council, which he said was created to educate regulators and the public about the industry's energy footprint. He noted that the council publishes quarterly reports on energy usage and sustainability metrics. In discussing site selection for mining operations, Feinstein said the company consults local communities and elected officials before building, and he described Bitcoin miners as flexible, non-mission-critical loads that can curtail power during grid emergencies. He also stated that he is no longer involved in Core Scientific's day-to-day operations, serving instead on the board as chief vision officer.
“Yeah it's a great question and it's a very accurate depiction of where we are right now and it is very similar to what happened in 2017 and then 2018 when we hit the bear market and the crypto winter... you saw a contraction in the marketplace the miners that were well funded and had strong balance sheets survived.”
“We realized getting to 2016 if we wanted to do this at any type of scale we would have to build our own Enterprise grade facilities to host this equipment which is a data center... a Bitcoin miner is simply a computer server that lives inside of a data center.”
“At the base Bitcoin and Bitcoin mining is an accounting Revolution — it's an innovation in accounting, we have an accounting innovation in 700 years and the base root foundation of what Bitcoin is is this new accounting technology that allows you to immutably store transactions.”
“If you're not in control of your own destiny it's a disaster... in order to control the economics of our business model we had to control the infrastructure as well.”
“The first step is to go to that region and talk to the representatives, talk to the elected officials, talk to the community... if they don't want you there don't build there.”
“We're seeing headlines that New York is banning proof of work mining — none of which is true. New York imposed a moratorium, a two-year moratorium on a certain subset of information and moratoriums are a tool of the regulators to slow down and conduct more studies.”
“The purpose of the Bitcoin Mining Council solely is to educate the public and The Regulators on the true energy footprint of this industry... the goal was to help spread the message of truth — what actually are the facts, how much energy is used by this network globally, what is the carbon footprint.”
“We know how much energy the Bitcoin mining network uses and it's 16 basis points of the world's energy — we're talking 16 one-hundredths of one percent today.”
“I started mining about a decade ago in 2012-13... what piqued my interest was the immutability of the ledger — you're an accountant or you're time-stamping transactions between two parties... that time-stamping or accounting transaction functionality is the base engine for proof of work.”
“We picked North Carolina... there are regions with lots of excess hydroelectric power — that hydroelectric power was built by the United States government (Manhattan Project era) and became stranded renewable energies; many Appalachian communities were decimated by NAFTA and later Opportunity Zone laws were enacted to...”
“As an accountant I read about the immutability of the ledger and I said that's impossible — there's no such thing as an immutable ledger. That's the Holy Grail of accounting: if ledgers can't be changed you remove human risk, fraud and error.”
“There have only been two real innovations to accounting in thousands of years: the invention of double-entry accounting in the 1400s and spreadsheets like Excel — until now nothing fundamental has changed.”
“Bitcoin is a new accounting technology: through proof-of-work you get consensus by computers, not stakeholders, and you write agreed transactions to a time-chain — effectively creating a triple-entry accounting system.”
“A Bitcoin miner is just a computer server — the same kind of servers that live in AWS or Equinix — and servers themselves don't emit pollutants; emission happens upstream at energy generation.”
“People panic about Bitcoin using 'more energy than a country' but the facts show the network uses roughly 250 terawatt‑hours out of about 160,000 terawatt‑hours generated globally — roughly 10–16 basis points of world energy.”
Join #Consensus2023, the most important conversation in crypto and Web3, happening April 26-28 in Austin, Texas. Tickets on ...
In this episode of The Scoop, Core Scientific founder Darin Feinstein explains the significance of the technology underlying the ...... once again we've been joined today by our guests Darren Feinstein founder of core scientific and chief Visionary officer where ...
Brett Sorensen - Compute North, VP of Business Developement https://www.computenorth.com/ Darin Feinstein - Owner/Creator ...
Darin Feinstein of Core Scientific https://darinfeinstein.com/
Compass Mining sits down with Core Scientific co-founder Darin Feinstein to talk about his ten years in Bitcoin, capital markets and a reflection on the Chinese Bitcoin mining ban. 🎥 TIMESTAMPS: Start 00:00 Bitcoin's progression 00:23 Adoption 06:20 Capital markets 10:30 Mining in the U.S. 14:11 State-by-state 22:55 POW vs POS 28:13 MINE Start mining your own bitcoins with Compass. https://bit.ly/3CehBf1 WATCH https://youtube.com/c/CompassMining?s... LISTEN Apple Podcasts https://apple.co/3fNfrdi Spotify https://spoti.fi/3tSf9G1 Amazon https://amzn.to/3557cqg Anchor https://bit.ly/3…
On this episode of Swan Signal Live, Darin Feinstein, Co-Founder of Core Scientific and Nic Carter, Partner at Castle Island Ventures, join me to talk about their time at the Oslo Freedom Forum, the need for "proof of reserves" , Bitcoin mining and more! Chapters: 0:00 The Pacific Bitcoin Conference by Swan Bitcoin 2:36 Nic & Darin Introduction 3:46 Oslo Freedom Forum 13:29 Speaking to the Norwegian Parliament 24:11 Bitcoin Mining in Norway 26:11 NYC Bitcoin Mining Ban 33:31 How do Crypto Crashes & Bear Markets affect Bitcoin? 43:30 What are “Proof of Reserves”? 51:10 Growth of Bitcoin M…
Darin Feinstein on Saifedean Ammous' “The Bitcoin Standard Podcast” episode 114.
Darin Feinstein on Saifedean Ammous' “The Bitcoin Standard Podcast” episode 114.
Most people think of bitcoin primarily as a form of money or store of value, but in this episode Darrin Feinstein argues that it also represents history’s most important accounting innovation. He explains why, as the world’s first incorruptible ledger, bitcoin allows us to remove fraud from the realm of accounting, and bring about a shift from “double-entry” to “triple-entry” bookkeeping. Darin and Saifedean discuss how the global accounting industry might differ in a world where bitcoin is used as the primary from of money, and why the transparency of bitcoin's ledger makes it a poor tool for…
Shownotes: https://stephanlivera.com/episode/356 Darin Feinstein, Founder of Core Scientific (Bitcoin Mining) joins me on the ...
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