Faculty News

Professor David Yermack is interviewed about bitcoin mines and security

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Excerpt from Missoula Independent -- "David Yermack, a professor of finance at New York University and bitcoin expert, says mining companies have no special reason for secrecy beyond 'standard security concerns.' Mine locations are usually dictated by access to cheap electricity (in Project Spokane's case, power is supplied by the Séliš Ksanka Ql'ispé Dam, according to Northwestern Energy documents posted online). 'Knowing the location of a bitcoin mine would not be particularly valuable information, except perhaps to potential competitors who might move to the area and try to exploit the same cheap sources of electricity,' Yermack says."

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