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.

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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.

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