Brett Wags opened his five-minute talk at Mining Disrupt Miami 2024 with the question he said he had heard all week: why would a Bitcoin layer 2 project come to a mining conference? Wags leads growth at GOAT Network, and his answer was that the project wanted miners and institutions that hold Bitcoin as the operators of its network.
And the question that I've been getting a lot this week is, why is a Bitcoin layer 2 come to a mining conference?
Brett Wags · 0:27
The session was recorded during the June 24–26, 2024 event, when Bitcoin traded at $61,272. On October 19, 2026 it was $82,268.
Revenue for Bitcoin holders
Wags described the mission plainly: to let miners and institutional holders earn revenue on the Bitcoin they already hold. He acknowledged that the idea does not sit well with everyone who treats BTC as a store of value, but said that was the goal.
we are looking for miners and Bitcoin institution holders to earn sustainable revenue on their Bitcoin.
Brett Wags · 0:34
He called GOAT Network the first Bitcoin L2 to share network ownership and mining rewards through decentralized sequencers. The layer 2 runs on a ZKVM, which he said gives it native security from Bitcoin layer 1. Sequencer nodes produce blocks, process transactions and verify the zero-knowledge proof for each batch submitted. The aim, he said, is unified liquidity with Bitcoin.
How the sequencers are paid
Operators stake onto the network and run sequencer nodes. Their income, Wags said, comes from transaction revenue flowing to the sequencers, so more transactions mean more revenue and more yield for the Bitcoin stakers.
Each sequencer node operator helps secure our network, earning sustainable yield on the Bitcoin.
Brett Wags · 1:28
He argued that many other layer 2 networks have one point of failure. GOAT's plan was to hand network operations to multiple sequencer operators around the world from launch, so the network would stay up even if outside actors tried to shut some nodes down. Future operators, he said, would include mining communities, traditional-finance BTC custodians, whales and other holders.
Partners and roadmap
we have four of our seven day one partners committed.
Brett Wags · 3:58
Wags named Amber and HashKey among them, along with a large mining group and one partner not yet announced, and said they had pledged day-one BTC liquidity. He also cited a partnership with LayerZero's Stargate for non-BTC assets, and day-one applications including a DEX, lending, perpetuals, BRC-20 and Runes trading, and a marketplace.
The roadmap he gave was a whitelist within weeks, the GOAT Club Points campaign, a testnet in July and mainnet in the third quarter of 2024. He closed by inviting miners and holders to the GOAT Network booth.
Mining Disrupt returns March 22–24, 2027 in Irving, Texas.