Bob Burnett (Barefoot Mining): Off Grid Mining, Cost of Production, and BIP110

Bob Burnett (Barefoot Mining): Off Grid Mining, Cost of Production, and BIP110

Author: Tony Carrera February 16, 2026 Duration: 1:34:14

In this episode of Proof of Pain, Tony sits down with Bob Burnett (Barefoot Mining, board member at Ocean, ex Gateway CTO) to break down off grid Bitcoin mining, cost of production, and why public miners often get valued like tech stocks even though mining is a commodity business.


We also dive into Core vs Knots, block templates, spam and inscriptions, OP_RETURN, the SegWit discount, and why Bob is signaling support for BIP110.


What we cover

• Off grid mining: sovereignty, jurisdiction risk, and power first site selection• The Barefoot model: investors paid in BTC• Cost of production: why averages mislead and what “best case” looks like• What happens if BTC trades below cost of production and how hash rate reacts• Why Ocean and block templates matter• Core vs Knots, spam, inscriptions, OP_RETURN, SegWit discount• BIP110 and the path to handling spam incentives• Treasury company metrics and “mine vs buy” tradeoffs


Chapters0:00 Background and how Bob got into mining21:21 Barefoot model and off grid realities48:30 Cost of production discussion56:42 If BTC trades near 60K, what breaks1:05:03 Core vs Knots, templates, and Ocean1:10:53 Spam, OP_RETURN, SegWit discount, BIP1101:23:45 Treasury metrics, mine vs buy, Bitaxe, node advice1:31:32 Five year outlook
1:33:00 Where to find Bob


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Video of this episode on Youtube:

https://www.youtube.com/watch?v=e1zxGi1WsA4


Not financial or tax advice. For entertainment only.


Hosted by Tony Carrera, Proof of Pain digs into the tangible sacrifices and strategic decisions required in an economy increasingly shaped by sound money principles. This isn't about abstract theory; it's a close examination of the real-world costs and the consequential opportunities that emerge from this financial shift. While the core of the podcast is firmly rooted in Bitcoin-exploring its ecosystem, mining operations, treasury strategies, and derivative markets-the conversation often finds compelling parallels elsewhere. Carrera brings on guests from diverse fields like professional sports and traditional business, individuals who understand fundamental incentives and high-stakes tradeoffs in their own arenas. Through these discussions, the show builds a broader narrative about value, risk, and commitment. You'll hear detailed analysis on specific Bitcoin-focused investment vehicles and company strategies, balanced with wider reflections on how the mindset of sound money applies far beyond digital assets. For anyone navigating the complexities of modern investing, this podcast offers a grounded, often provocative perspective on what it truly takes to build and preserve wealth in a changing world. New episodes are released on a regular schedule.
Author: Language: en-us Episodes: 12

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