Bitcoin mining: Riot Platforms’ 10-K is full of tentacles (
from to on 04 Mar 2024 23:36


threaded - newest on 05 Mar 2024 01:22 collapse

I’m both sympathetically furious and unsurprised that crypto data centers are so loud that they’re actively disrupting how folks in the area (generally a low-income small town) live

this quote is worth keeping handy whenever crypto fucks try to sell their shit with leftist-sounding talking points:

Several Chinese companies have now invested in a $4.8 billion dam, which the miners would draw power from. Ethiopia has signed a preliminary agreement to establish a $250 million bitcoin mining and AI (apparently) data center, led by the Russian bitcoin miner BitCluster. While all this is going on, about 40% of Ethiopia’s population of 120 million have no electricity.

the egalitarianism of bitcoin in action. all this infrastructure being built for the sole purpose of capital jacking itself off more and more destructively until we’re all fucking dead. I’m guessing there’s gonna be no grid to distribute that dam’s power to any of that 40% of the population, cause it’s just cheaper and easier to build the pointless fucking data center next to the dam and fuck everybody else. and the whole time all it’s doing is making an ungodly noise, generating shitloads of heat, burning out ASICs that were e-waste from the moment they were manufactured, and enabling a tiny number of rich fucks to scam a little bit more money from folks poorer than them