I'm not certain on how much airflow either, but mushrooms need to breath just like you and me. I don't think tying them up tight in a garbage bag is beneficial to their growth. I tried buckets of straw in a garbage bag once with little success and that was even with the top only loosely tied. I actually took one outside (it was winter) to look through the straw to see if colonization was occuring. I saw very little, only in the middle 20% of the bucket, so I instead left them in a clean corner in my bathroom out of the trash bag and figured the project was over. I'm not sure if it was the outside air, the cold or what, but I checked 3 days later and they had colonized 60-70% of the bucket and started to pin.
Another thing I can tell you is that Blue Oysters require more air exchange than other varieties - I'm not sure about the rest.
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From what I recall from various sources, there are 2 main ways to work with substrate bags:
1. Poking multiple holes, probably about 25-40 per 18 inch bag (I can't recall how many, but it was in a RogerRabbit video)
2. What I would call the "asian method". Make a small slice in 2 sides of the bag to create air flow but leave the front open. (they use zip-ties/string to make the front opening narrower)
Both seem to work, and the only theory I can think of for #2 is that with the front open, more air exchange in one place = better fruiting. Take this all with a grain of salt, I'm only just experimenting with small scale production this coming spring so I'll be reeducating myself in early January.
For what it's worth, a lot of the commercial asian set-ups are semi-enclosed but accessible to the outdoors - then again it's humid there. (from the videos, It's like a pole barn that only is half enclosed)
p.s
This guy's set-up would indicate having around 12-24 holes in half the bag, at least judging from the pictures and the various places that the mushrooms come out.