Bitcoin 2022 Miami: Mining Gets Its Moment Under the Sun

Throughout the week, new mining rigs were unveiled, long lines of visitors were seen at the booths of mining services firms and some of the larger mining companies said they had their people sniffing around for deals.

“Last year, it wasn’t that [mining] was an afterthought, but it didn’t have nearly the pull or the promotion from the conference,” Whit Gibbs, the founder and CEO of bitcoin mining and services company, Compass Mining, told CoinDesk from the exhibition floor. “And this year…they promoted [the mining stage], they’ve got speakers that are more engaging, drawing in the crowds. It’s been great,” he said.

And there were plenty of them, including the top three mining rig makers, at least four providers of immersion cooling, three to four energy services providers marketing their environmentally-friendly solutions and three miners serving retail clients. There were also several other new mining rig manufacturers on the floor.

They may have been too busy meeting with their Wall Street friends to raise capital, as there were a plethora of cocktail parties and private dinners bringing together the two sides throughout the week.

Meanwhile, larger miners, such as Hive Blockchain (HIVE), had its own team scouring the convention to look for deals, given that so many participants in the mining sector were present, Hive’s executive Chairman Frank Holmes told CoinDesk at the conference. “We’ve had many deals come to us,” Holmes said. “This is a real deal center.”

“When it comes to the hardware side, there’s more of a presence from different providers than I’ve ever seen at a conference before,” Gibbs noted. However, Gibbs said he is “slightly apprehensive” of all the new entrants. “I think we have some people here that are promoting products which are not proven so it could pose a risk for people who are interested in buying them,” Gibbs observed.

This content was originally published here.

Leave a Reply