Bitcoin Well Podcast
Is Bitcoin Mining Being Quietly Captured?
Last week was about custody failing. This week it's about whether the infrastructure underneath Bitcoin — mining itself — is quietly being captured. Bob Burnett sits on OCEAN's board, runs Barefoot Mining, and went on record defending how OCEAN handled the BIP-110 fork after miners demanded leadership be ousted and Adam Back called for docked pay. This is his first real chance to tell the full story — and we're not letting him off easy. We also get into the bigger story pool centralization: Foundry alone controls roughly 31% of global hashrate, four pools control over 70%, and the Nakamoto coefficient sits at just 3 — meaning three pools colluding could hit 51%. OCEAN's answer is DATUM, a system that lets miners control their own block templates. Does BIP-110 actually prove DATUM works, or expose its limits? Bob also breaks down brutal post-halving mining economics (the cost to mine one BTC hit roughly $70K in 2025), what that means for independent operators like his own, and — coming off the ColdCard hack — what he actually tells a 60-year-old who bought a hardware wallet in 2021 and hasn't touched it since. Sign up for Bitcoin Well: https://app.bitcoinwell.com/signup Book a free call with a Bitcoin Advisor: https://bitcoinwell.com/infinite Follow Bob Burnett: https://x.com/boomer_btc Subscribe to Bitcoin Well for bitcoin news, mining analysis, and how to buy, sell, and use bitcoin. Bitcoin Well is Canada's non-custodial bitcoin company, established in 2013 and publicly traded since 2021 ($BTCW.V). We offer Bitcoin ATMs, personal bitcoin services, and an online bitcoin platform. Future-proof your money Bitcoin #BitcoinMining #BitcoinWellPodcast
