Five megawatts of computing? At 10 cents/kwh, that’s $500 bucks an hour (someone check my math) to mine bitcoins, to say nothing of his capital investment, which sounds like several million dollars.
He must be finding enough of them to make it worth his while. Or, maybe he’s like the guy who pulled off a bank heist and spent all of the money on lottery tickets, winning very little.
I’m guessing the hardcore miners feel they have the inside track on BC’s future value not only as a currency, but the core of an unstoppable disruptive technology that transcends law and business practices as we know them... When all are mined, the miners switch over to processing fees, a la Visa. Miner today, Scrooge McDuck tomorrow.