Cost of power is even more crucial for mining than is commonly believed. Capitalizing on cheap sustainable power in the West will be critical for achieving a globally distributed hashrate. Jesse Peltan is CTO of HODL Ranch. HODL Ranch develops industrial scale Bitcoin mining projects in Texas. About Bitcoin he says: Bitcoin is permissionless sound money.\” This presentation was performed during the Value of Bitcoin Conference 2020 – on June 2nd 2020 Follow the Value of Bitcoin on Twitter – ​\”