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Wolfie Zhao Profile picture
Wolfie Zhao
@WolfieZhao
#Bitcoin mining news, data and research 🧠 Behind @TheMinerMag_ | Previously @TheBlock__ @CoinDesk
Aug 25, 2022 • 8 tweets • 2 min read
This lawsuit between GMO Internet and Riot's Whinstone offers a glimpse into their interesting and yet entangled history since the bottom of the last bear.

It shows how the current market downturn is again putting existential pressure on inefficient miners. 1/n How big is GMO's fleet colocating at Whinstone in Texas? Its complaint filed in June against Whinstone suggested a power draw at ~50MW.

Riot's Q2 filing also suggested that just 3 customers accounted for "nearly all" of its third-party #bitcoinmining hosting revenue. 2/n