Gideon Powell is a family man, a bitcoin miner and modern day wildcatter. He speaks with danielgkuhn about how bitcoin mining innovations spills out into the wider data and chips industries, in an interview for MiningWeek, presented by FoundryServices.
about the three components needed to build data centers, why he’s betting on West Texas as an mining infrastructure hub and how crypto mining innovations bleed out into the rest of the silicon-based economy.The bitcoin mining industry has dozens of legends that need to be told. My dad collected old Texas oil and gas history books and I can't read those without thinking about how we're in the middle of a revolution – bitcoin miners are quite like the wildcatters.
We eventually pivoted, and said let’s not sell power, let's invest in what consumes power – which is where cryptocurrency mining comes in. We developed the first speculativeand I got stories for days on that one. Over the last few years, we've really evolved to where we're not just an oil and gas exploration company: we're a diversified exploration company. So we have a few different divisions, including traditional oil and gas exploration.
Bitcoin miners are also pioneers in a technical sense. But I’ve never been sure if that stuff could be repurposed in other industries. So really, the three components of any traditional data center is land, power and connectivity. It’s why data centers cluster where there’s fiber [optic cables]. Like Google went to Midlothian, Texas, on the outskirts of Dallas Fort Worth and then you saw other data centers popping up around it because Google brought in the resources and the fiber, which then can be backboned on to other other data centers. With bitcoin mining, you don't need fiber.
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