Uploaded March 2025 | Updated September 2026, 10 hours ago
In this episode, Bitaxe founder Skot joins the show to discuss the new wave of affordable Bitaxe miners, the permissionless nature of Bitcoin mining, and why proof-of-work is the ideal consensus mechanism. We also delve into the odds of mining a block, centralization in Bitcoin mining, and more. Enjoy!
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Follow Skot: https://x.com/skot9000
Follow Rizzo: https://x.com/pete_rizzo_
Follow Supply Shock: twitter.com/SupplyShockBW
Follow Blockworks: twitter.com/Blockworks_
Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx
Supply Shock Newsletter: blockworks.co/newsletter/supplyshock
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Join us at Permissionless IV June 24th - 26th. blockworks.co/event/permissionless-iv
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Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.
Join Ignition and get onchain: ignition.coredao.org/blockworks
Stake your Bitcoin with Core: stake.coredao.org/blockworks
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.
Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.
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Timestamps:
00:00 Introduction to Supply Shock
02:59 Understanding Bitaxe and Its Impact
06:05 The Open Source Movement in Bitcoin Mining
10:52 Ads (Core, Ledger, Ledn)
12:25 The Open Source Movement in Bitcoin Mining (Con't)
13:16 Building and Buying Bitaxe Miners
20:19 The Future of Decentralized Bitcoin Mining
22:43 The Economics Proof-of-Work
25:28 Ads (Core, Ledger, Ledn)
27:33 The Economics Proof-of-Work (Con't)
31:44 Levels of Success for Bitaxe
34:51 Government Involvement in Bitcoin Mining
36:53 Challenges in Bitcoin Mining Pools
44:59 The Centralization of Chip Manufacturing
48:55 Identifying Bitcoin Miners on the Blockchain
56:28 The Future of Bitcoin Mining
—
Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
In this episode, Bitaxe founder Skot joins the show to discuss the new wave of affordable Bitaxe miners, the permissionless nature of Bitcoin mining, and why proof-of-work is the ideal consensus mechanism. We also delve into the odds of mining a block, centralization in Bitcoin mining, and more. Enjoy!
—
Follow Skot: https://x.com/skot9000
Follow Rizzo: https://x.com/pete_rizzo_
Follow Supply Shock: twitter.com/SupplyShockBW
Follow Blockworks: twitter.com/Blockworks_
Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx
Supply Shock Newsletter: blockworks.co/newsletter/supplyshock
—
Join us at Permissionless IV June 24th - 26th. blockworks.co/event/permissionless-iv
—
Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer.
Join Ignition and get onchain: ignition.coredao.org/blockworks
Stake your Bitcoin with Core: stake.coredao.org/blockworks
Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com.
Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing.
—
Timestamps:
00:00 Introduction to Supply Shock
02:59 Understanding Bitaxe and Its Impact
06:05 The Open Source Movement in Bitcoin Mining
10:52 Ads (Core, Ledger, Ledn)
12:25 The Open Source Movement in Bitcoin Mining (Con't)
13:16 Building and Buying Bitaxe Miners
20:19 The Future of Decentralized Bitcoin Mining
22:43 The Economics Proof-of-Work
25:28 Ads (Core, Ledger, Ledn)
27:33 The Economics Proof-of-Work (Con't)
31:44 Levels of Success for Bitaxe
34:51 Government Involvement in Bitcoin Mining
36:53 Challenges in Bitcoin Mining Pools
44:59 The Centralization of Chip Manufacturing
48:55 Identifying Bitcoin Miners on the Blockchain
56:28 The Future of Bitcoin Mining
—
Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
