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Mining update - letter from our CEO, Ryan Radloff
Mining update - letter from our CEO, Ryan Radloff
Updated over a week ago

Published August 27, 2021

To my fellow Choicers - since announcing our mining product, the infrastructure bill has brought some uncertainties to the future of US mining. This uncertainty has grown much larger than when we started this journey.

To that end, my board and legal counsel have asked that as a regulated company, we hold fire on moving forward with mining until we have more clarity on how the infrastructure bill will address mining (and the broker definitions). We are postponing the purchasing of equipment until then.

As a bitcoiner, and someone who wakes up every day aiming to advance bitcoin this is a painful message for me to deliver.

However, as a regulated CEO, there are decisions I’m faced with making that ultimately have to be weighed against the risk, or lack of protection for our customers. As a team and a company, we are in this for the long-term success of bitcoin, and some days that means pausing until we can be sure we aren’t putting other bitcoiners at risk.

We will get through this and I look forward to advancing bitcoin in the retirement market together. As you can imagine, we are also ramping up our funding for groups like CoinCenter among other bitcoin advocates in DC to ensure we get the best outcome for bitcoin.

More to come…

Ryan Radloff | CEO

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