There’s a Land Run
There’s a Land Run happening and it’s more than just Oklahoma this time.
Bitcoin is kinda like land — “They ain’t makin’ more of it”
On April 22 of 1889, 50,000 people lined up in Northeast Oklahoma and raced to settle the most prime farming land in North America at the time, the “Unassigned Lands”. By the end of the day, entire new towns had sprung up where there was barren land before.
As Harper’s Weekly reports: “At twelve o'clock on Monday, April 22d, the resident population of Guthrie was nothing; before sundown it was at least ten thousand. In that time streets had been laid out, town lots staked off, and steps taken toward the formation of a municipal government.“
The same thing is happening right now for Bitcoin miners across the American Frontier.
This time, the Sooners aren’t after prime land, but cheap energy.
From major public companies to scrappy upstarts, everyone and their dog is racing to hook up ASICs to natural gas, hydro, wind, and anything that produces cheap megawatts.
Bitcoin miners kick up dust as they race to grab the best substations & stranded gas assets
If you work anywhere along the power energy chain you already know this is happening. Here in Oklahoma, the public utility last week told me they are “flooded with inquiries from Chinese miners”.
Nakamotor will follow this narrative ad nauseum over the next several years, but the key takeaway for everyone should be this: if you’re anywhere near the energy industry you need to be paying attention. In 20 years energy producers, utilities won’t be defined by “incorporating Bitcoin mining” or not, similar to how we don’t think of companies today as “using the internet or not”.
Bitcoin mining, or “Satoshi Nakamoto’s Motor”, will integrate at every point along the entire energy production stack. Right now, you only just heard the gun go off.
Charlie Spears, Strategy
Thank you, Nic Carter, for the Nakamotor shoutout at the Texas Blockchain Summit this week!
Big announcements for Texas
Core Scientific building 300 megawatts in Denton.
Lancium estimates 5,000 megawatts of interruptible load opportunity in Texas
Research —
The Lightning Network is growing fast.
Lyn Alden on the “trillion dollar coin”