THE MINING POD: What Bitcoin Miners Get Wrong About Oil And Gas w/ Sean McDonough

CoinDesk Podcast Network

Content provided by CoinDesk. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by CoinDesk or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

9h ago 45:24

MP3•Episode home

Sean McDonough of New West joins the pod to discuss how oil and gas bitcoin mining has changed and where the sector is headed.

FILL OUT THE MINING POD SURVEY BY CLICKING HERE

Welcome back to The Mining Pod! Today, Sean McDonough, president and founder of New West Data joins us to talk about the company’s vertically integrated oil and gas bitcoin mining operations in Alberta, Canada. We explore the pros and cons of full O&G ownership versus JV partnerships, barriers for large oil companies entering Bitcoin mining, regulatory considerations in Alberta, and the convergence of oil, gas, and AI data centers.

Subscribe to our newsletter!

**Notes:**

• New West: $1.5M CAD per megawatt CapEx cost

• Alberta flare gas mining still relatively small scale

• Dual revenue streams: oil sales + Bitcoin mining

• Cash flows split evenly between oil and Bitcoin

• Generators are largest CapEx item, more than miners

• Hash rate trading in 800-900 range for months

00:00 Start

02:38 New West

04:26 Ownership instead of service

07:35 Why don't we see more miner vertical integration

10:06 JV's and risk

10:56 Nat Gas economics

12:30 Nat Gas more profitable than mining?

15:48 Regulation in Alberta

17:57 Understanding of BTC mining in Alberta

19:58 Drillers shifting thinking

24:37 Economics of pure play Nat Gas mining?

28:45 Have oil producers soured on BTC miners?

32:55 NYDIG & Caruso buyout

36:09 Ai energy bottleneck

41:00 Hashrate predictions

42:41 Hashrate chart waves

👉 Fractal Bitcoin, Reduces up to 50% of your pool fee. No new hardware, no extra energy.

And it’s easy. FB rewards go straight to your existing Bitcoin wallet address. Over 50% of Bitcoin’s hashpower is already merge mining Fractal. Get more from the same resources — start on Fractal today!

👉 Luxor, Leaders In Bitcoin Mining and Compute Power!

Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS.

👉 Colorado Air Filter, Leaders In Mining HVAC Solutions!

Pick from 6 different filtration brands from MERV 8 pleats to HEPA filters. Get your mine in top shape before the heat and dust of this summer comes! Contact [email protected]

Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

3418 episodes

#Business News #Distributed Ledger #Crypto #Ethereum #Blockchain #Bitcoin #News #Cryptocurrency #Business #Daily News #Tech News #CoinDesk #DeFi #Digitalasset #Token #Decentralized #DLT