[Pharaoh2]

He is talking about mining bitcoins, not buying bitcoins.

Most bitcoin hash rate comes from places with low energy costs... its just basic economics.

The only reason this arbitrage is present is because the value of bitcoins is higher than the cost to mine them at the moment. Since the capital investment required to setup a (reasonable large)mining farm is rather high, it is unknown if the investment will pay off over the long term. But a lot of people are betting it will.

[merloen]

That's not arbitrage, just basic investment. Arbitrage is buying X at place A and selling X at place B.

Energy arbitrage means buying energy where it's low, and selling where it's high. The latter is missing here.

[Pharaoh2]

Yep, that was the whole argument of the article... I do really agree with the article but at least we can agree on what the article is claiming...