Space Mining: The Next Frontier for Crypto?

In a recent blog post, Peter Todd argued that crypto mining in space is technically possible.

Author

Danielle du Toit
December 04, 2024

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Here's what we've got for you today:

  • Peter Todd Argues Space Mining for Bitcoin Is Within Reach

  • Polymarket Bettors Predict Microsoft Has 10% Chance of Approving Bitcoin Investment

  • Grayscale Files for Spot Solana ETF to Expand Solana Investment Access

  • Russia Sentences Hydra Founder to Life in Prison

🌌 Peter Todd Argues Space Mining for Bitcoin Is Within Reach

Peter Todd argues that mining crypto in space is not only technically possible, but could also become economically viable if the costs of space cargo launches decrease. 

  • Space-based crypto mining offers many advantages like unlimited solar energy and reduced Earth-based carbon emissions, but critics are concerned about high costs, cooling system issues and risks of centralizing control.

  • Todd brushed off the concerns about cooling systems in space, and pointed out that thermal radiation could efficiently manage heat.

  • While technically possible, Todd acknowledged that lowering launch costs will be crucial to make space mining economically viable.

A Polymarket poll shows that bettors are giving Microsoft shareholders only a 10% chance of approving Michael Saylor’s Bitcoin investment strategy.

  • Microsoft shareholders are set to vote on a Bitcoin investment plan on Dec. 10, after a proposal from the National Center for Public Policy Research in October.

  • Only 10% of bettors on Polymarket believe the proposal will actually receive shareholder approval.

  • Michael Saylor tried to persuade Microsoft to invest in Bitcoin, and posted his pitch to company shareholders and CEO Satya Nadella on X on Dec. 1.

Grayscale Investments officially filed with the United States Securities and Exchange Commission (SEC) to launch a spot Solana ETF.

  • Grayscale has filed to convert its Grayscale Solana Trust into a spot ETF, which will trade on the New York Stock Exchange under the ticker GSOL if approved.

  • This move is similar to Grayscale's previous successful conversions of Bitcoin (BTC) and Ethereum (ETH) trusts into ETFs.

  • The Grayscale Solana Trust manages about $134.2 million in assets, which represents close to 0.1% of all Solana (SOL) tokens in circulation.

Stanislav Moiseev, the founder of the online black market and crypto mixing service Hydra, was sentenced to life in prison by a Russian court.

  • A Moscow Regional Court found Moiseev and 15 accomplices guilty of organizing a criminal community and producing and selling drugs.

  • Moiseev received a fine of $38,100 (4 million rubles), and his accomplices were collectively fined $152,400 (16 million rubles). They all received prison sentences ranging from 8 to 23 years.

  • All of the individuals will serve their sentences in correctional colonies under strict regimes, according to Russian media outlet TASS.

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