Is AI infrastructure the next great buildout — or the next bubble waiting to burst?
In this episode, Jake Corley (@jacobcorley) and Justin Ballard (@JLB_Oso) break down what might be the largest capital migration in modern history — the trillion-dollar rush to build data centers, generation, and power infrastructure for AI.
From Fermi America’s $13B IPO to Crusoe’s $10B valuation, from China’s 40-GW dams to America’s permitting gridlock — this one connects the dots between energy, compute, and capital.
We explore:
⚡ The $250B+ pouring into AI infrastructure this year
⚡ How off-grid power and natural gas are reshaping the landscape
⚡ Whether the boom is sustainable — or headed for a shakeout
⚡ Why China’s generation advantage could reshape the AI arms race
⚡ The fusion of AI, Power, and Bitcoin — and what it means for the next decade
It’s AI x Power x Bitcoin — and the lines are blurring fast.
Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) regroup to riff on miner-to-AI megadeals, gas-to-power plays, and a modular ASIC that could reset fleet economics.
AI x Power x Bitcoin
This week we break down:
TeraWulf × Google – a 10-year, 200 MW hosting deal (headline $3.7B; options could push multiyear value far higher) and why clean, reliable electrons (nuke/hydro) earn a premium—and might end in outright M&A.
Who’s Next? – the consolidation map: why Bitfarms (and possibly IREN/Iris) look “target-ready,” what MARA/RIOT are more likely to do, and how miner stock spikes telegraph hyperscaler interest.
CoreWeave–Core Scientific Playbook – how long-dated revenue agreements morph into acquisitions when the real prize is energized, rack-ready capacity.
Coterra’s Power Option – a 7-year gas sale to CPV’s 1.3 GW CCGT in Ward County with the right to buy ~250 MW/day indexed to ERCOT West—the first true Permian netback template and what it signals for E&Ps.
Turbines, Permits & Sudoku – deposits and long lead times, GPA/air permits (NOx/CO₂), and the catch-22 between offtakes and hardware—why scale + compliance + capital win.
Block’s Proto Miner – Apple-clean design, rack-side sub-90-second repairs (as pitched), modular hashboards, open-source fleet software, and a 10-year design life—what that does to uptime and capex cycles.
The AI Arms Race – trillion-dollar capex, billion-dollar talent bids, China’s generation build-out, and why power-secure brownfield beats greenfield timelines.
Where to Find Us IRL – Permian Power Conference (Midland, Sep 29–30) + Texas Capitol investor day/North American Blockchain Summit (Dallas, October).
Chris Kline, co-founder & COO of Bitcoin IRA, sits down with Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) to show you how to turn the IRS into your silent stacking partner.
They break down:
Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) sit down with Bitfarms power duo Rachel Silverstein (GC & firm-builder) and Alex Brammer (ex-Ranger turned HPC czar) to map out Bitfarms’ high-voltage pivot from pure Bitcoin mining to hyperscale AI infrastructure. They unpack how a 460 MW fleet, a gigawatt development pipeline, and a fresh $300 million Macquarie project-finance deal are transforming legacy mining sites into liquid-cooled, 600 kW-per-rack AI engines. Discover why a “dream-team” exec roster, project-level debt, and a land-plus-power land-grab strategy could vault Bitfarms from blocks to bots—and what it all means for energy markets, AI’s compute arms race, and the future of work.
Rajiv Khemani, co-founder & CEO of Auradine, sits down with Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) live from Bitcoin 2025 in Las Vegas to pull back the curtain on America’s newest 3 nm ASIC powerhouse.
Auradine
They break down:
If you’re obsessed with mining density, cheap electrons, and staying geopolitically uncancelled, this episode hands you the playbook.
Comedian T.J. Miller (@nottjmiller) drops by to riff with Jake Corley (@jacobcorley) and Justin Ballard (@JLB_Oso) about getting “orange-pilled” by the Winklevoss twins, swapping war stories with Michael Saylor, and why true Bitcoiners keep stacking no matter how “frothy” the market gets. Expect unapologetic laughs, hard-won lessons on dollar-cost averaging, and a spicy take on politicians suddenly chasing crypto clout. Plug in for a fast-paced, no-filters tour of Bitcoin culture—from Broadway dinners to back-stage conference drama—and find out why T.J. thinks hodling might be comedy’s greatest punchline.
Charlie Brady of Bitfufu sits down with Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) to explore the world of cloud mining as a major revenue stream. They unpack the dynamics of Bitfufu's cloud mining operations, the strategic shift from asset-light to owning data centers, and how cloud mining is reshaping the financial landscape for both institutional and retail investors. Discover why cloud mining is a game-changer in the cryptocurrency space and what the future holds for this innovative approach.
Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) sit down with oil-patch veteran-turned-Bitcoin-miner Dan Morrison to unpack Waha-gas economics, off-grid data centers, and why 2025 may finally be the oil-and-gas adoption year for Bitcoin mining.
Show Notes
00:00 Wildlife-podcast banter, Missouri recording location, and Dan’s long-overdue appearance
01:42 First meeting at the 2021 “secret” Houston Bitcoin meetup
03:10 Dan’s background: bankrupt E&P turnaround and “MBA-on-steroids” lessons
05:26 Buying distressed New Mexico assets & naming the venture “Amalgamated Sludge”
07:48 Paying $80/ TH for ASICs at the cycle peak and booting 1.3 MW of self-mining
10:55 Turning negative Waha gas into revenue: hosting deals, vintage ASIC strategy, 8-month ROIs
14:08 Why old oilfield operators resist Bitcoin—and what finally breaks the inertia
16:41 Basis differentials, dashed strip-price hopes, and why 2025 looks like the adoption inflection
19:15 Valuing green- vs brownfield sites for AI: speed-to-energize premiums & $/MW math
22:37 Gas-fired turbines, Elon’s Memphis play, and “BYOP” (bring your own power) legislation in Texas
25:02 “Moat mining”: pairing AI inference loads up front with flexible Bitcoin mining in back
27:40 Hydrocooling vs immersion and designing mines to survive the next two halvings
29:55 EPA rollbacks, CO₂ rules, and a regulatory pendulum swinging toward gas gen-sets
32:04 Ideal 2025 build: low-basis gas, Rocky Mountains or Permian, hydro-cooled S19-class fleet
34:30 Bridging cultures: tech speed vs. oil-patch hierarchy when herding data-center cats
36:12 Texas Mining Fight Club group texts, community collaboration, and swapping spare breakers
38:45 Future meetups, “super-secret” May 19 event, and final shout-outs
Bitcoin, Hockey, and Dirty Coin: A Chat with Barry
Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) discuss with Barry the fascinating intersections of professional hockey, Bitcoin mining, and the creation of the 'Dirty Coin' documentary.
00:00 Painful Injuries and Embarrassing Moments
01:35 Skiing and Snowboarding Disasters
02:48 The Cost of Extreme Sports
03:32 First Experience at an F1 Event
05:11 Professional Hockey Career Highlights
12:07 Transition to Bitcoin and Investing
25:20 American Ninja Warrior Journey
30:16 Introduction to Dirty Coin Documentary
31:11 Tax Strategies and Film Investments
32:19 Meeting Alana and Documentary Vision
34:54 Challenges in Documentary Distribution
37:27 Bitcoin's Public Perception and Education
46:48 Michael Saylor and Bitcoin Investment Strategy
57:33 Poland's Bitcoin Film Festival and Future Plans
59:48 Conclusion and Final Thoughts
In this episode, Curtis Harris shares insights into his journey in the Bitcoin industry, his role in Compass Mining, and how his passion for Bitcoin advocacy has shaped his career. Starting from his early discovery of Bitcoin, Harris discusses the challenges and triumphs of building and operating mining facilities, the importance of customer service, and the company's strategic growth through vertical integration and onsite operations. The conversation covers the evolving Bitcoin market, political landscape, and the exciting growth prospects amid the emerging bull market. Curtis also emphasizes the importance of authenticity and community collaboration in the Bitcoin world.
00:00 Introduction and Greetings
00:15 Discussing the North American Blockchain Summit
01:07 Curtis' Journey into Bitcoin
02:25 Career Background and Bitcoin Discovery
05:28 Compass Mining's Latest Developments
09:46 Technical Innovations in Mining Operations
14:08 Customer Service and Site Operations
24:00 The Origin of the Magazine
24:16 Bitcoin Mining and Personal Stories
26:34 Compass and Customer Relations
27:50 Future of the Podcast
30:54 Bitcoin's Growing Relevance
33:31 Bitcoin Strategies for Organizations
37:48 Bitcoin Advocacy and Education
41:15 Concluding Thoughts and Farewells
00:00 Introduction to the South Texas Site
00:24 Early Industry Stories and Key Figures
01:22 Opportunities for Young Entrepreneurs
03:03 The Value of Business Education
03:41 Paths to Financial Success
04:15 Recognizing Patterns in Investments
06:46 Bitcoin and Institutional Investment
12:05 The Role of Institutional Capital
15:15 Coal Waste and Renewable Energy Credits
17:31 The Growing Demand for Power
20:18 Understanding Bitcoin’s Value
24:02 Bitcoin Market Panic
26:38 The Lending Market for Bitcoin
28:55 Investment Banking in the Bitcoin Space
31:00 Challenges in Bitcoin Mining
32:51 Public vs. Private Bitcoin Miners
37:46 Future of Bitcoin Mining Companies
45:01 Conclusion and Final Thoughts
In this episode, we reminisce about meeting Phil at the TBC summit and discuss the evolution of our friendship. We talk Bitcoin, investments, and personal transformations. We give Justin a hard time about his skinny jeans. But most importantly how perceptions around Bitcoin are changing, especially at the institutional level. We also dive into how Phil bought a bar post-COVID, building lasting friendships, and the future potential of Bitcoin amidst regulatory changes.
00:00 Meeting at the TBC Summit
01:39 Bitcoin Conversations and Media Perceptions
05:07 Phil's Garage and Car Collection
06:43 Rhinestone Saloon: The Bar Rescue Story
10:07 Bitcoin Mining and Giga Dudes
23:11 The Bitcoin Strategic Reserve and Market Dynamics
29:24 Bitcoin Buying Plans and Industry Confidence
31:34 The Emotional Rollercoaster of Bitcoin Investment
34:47 The Genesis of Corley Energy
35:36 Building a Team and Securing Investments
42:46 Bitcoin's Value and Long-Term Thinking
46:41 Bitcoin and Personal Growth
47:36 Car Talk and Bitcoin Wealth
51:57 Closing Thoughts and Future Plans
Join us as we dive into the world of crypto and innovation with Reza Nedjatian, CEO of Phoenix. From Dubai's cutting-edge advancements to the resurgence of pro-business policies in the U.S., Reza shares how leadership and strategy are shaping the future of Bitcoin mining and technology. Hear exclusive insights into Phoenix’s bold expansion plans and why now is the time to seize opportunities in AI and crypto.
Bitcoin mining in 2024 is a whole different ballgame, and nobody knows that better than Bitfarms CEO Ben Gagnon. With Bitcoin smashing past $90K, Ben spills the tea on everything from why Pennsylvania is suddenly the hot spot for miners to how institutional money is finally waking up to the potential of this space. He talks about Bitfarms’ big moves into the U.S., the evolution of capital markets, and what it takes to stay ahead in this wild industry. From energy strategies to Trump’s ripple effects and why this bull cycle hits different, Ben doesn’t hold back on what’s really shaping Bitcoin mining right now.
Click here to watch a video of this episode.
00:00 - Intro
01:17 - Ben Gagnon Background
05:31 - Funding Bitcoin Operations
10:15 - Bitcoin Bull Market Insights
12:34 - Mining Stocks Performance Issues
16:07 - Riot's International Expansion Risks
21:54 - Bitfarms' US Expansion Strategy
25:10 - Pennsylvania and Bitcoin Relationship
28:16 - Bitfarms' Team Dynamics
32:04 - Current Buy Mode Status
35:02 - AI in Bitcoin Mining
38:50 - Unspoken Bitcoin Topics
42:44 - Future of Bitcoin
Ever thought about how Bitcoin could be shaping the future of politics and power? In this episode, I’m hanging out with Lisa—she’s back, and if you know her from social media, you know she’s got a knack for diving deep into big topics. We’re unpacking the ripple effects of Trump’s second win, Elon’s moves, and what it all means for a pro-business, innovation-driven era. From Bitcoin as a potential national asset to its impact on democracy and even energy policy, this one’s loaded with insights. Lisa’s got some fresh, thought-provoking takes on where decentralized finance might be heading, and trust me, you won’t want to miss her perspective.
Click here to watch a video of this episode.
00:00 - Lisa Hough is back
01:03 - Post-Trump election results
05:37 - US economy outlook
08:28 - Michael's 21/21 plan
12:28 - Rebooting the brain
17:20 - Shift in consciousness
21:48 - Election night entertainment
24:10 - Softness of people
26:59 - Bitcoin education
29:47 - US strategic Bitcoin reserve
32:57 - Onshore hash rate necessity
37:38 - Energy demand challenges
39:43 - Bitcoin mining flexibility
43:10 - Long-term thinking in government
44:55 - Bitcoin buyers
48:40 - BRICS vs G7
53:46 - Bitcoin and spirituality
57:15 - Bitcoin network effects
1:04:50 - Avoiding the prescribed life
1:10:15 - Bitcoin communes
1:13:20 - Government overreach
1:15:50 - Election results analysis
1:19:10 - Biden's red suit
1:26:49 - First Lady of Bitcoin
1:29:20 - Turning of the page
1:30:00 - Bitcoin camp experience
1:32:54 - Contacting Jake
1:34:42 - Wrapping up
Andrew Burchwell, a thought leader in the energy-tech space and advocate for the Ohio Blockchain Council, joins this engaging discussion on Bitcoin, AI, and the future of energy. He explores how Bitcoin and AI are reshaping energy markets, revitalizing communities, and creating new opportunities across industrial sectors. Andrew shares his journey from geologist to blockchain advocate, discussing the challenges traditional energy markets face in an advancing tech landscape and how AI can optimize energy use and support grid stability. Known for his dynamic role in bridging energy and technology, Andrew challenges conventional views and speculates on a tech-driven societal revolution.
Click here to watch a video of this episode.
00:00 - Intro
01:46 - Texas vs Missouri Heat
05:33 - Ohio Blockchain Council Overview
06:11 - Empower 2021 & Ohio Blockchain Council Inception
08:00 - Ohio Blockchain Council Mission Statement
11:45 - Revitalizing Communities through Blockchain
17:20 - Discussing Passions and Interests
20:14 - Bitcoin as a Spiritual Concept
23:13 - Energy Consumption in Bitcoin Mining
27:30 - AI's Role in Bitcoin Mining
31:13 - Bitcoin as a Strategic Reserve Asset
35:15 - Communism without a Dictator
38:00 - Election Insights
41:45 - Political Influence on Bitcoin
48:03 - Bitcoin Mining Landscape in Ohio
49:29 - Ohio Bitcoin Mining Tariff Discussion
53:19 - Nuclear Energy and Bitcoin Mining
56:45 - Donald Trump and Bitcoin
1:01:30 - Engaging in the Political Process
George Mekhail, General Manager at Bitcoin Magazine, joins this episode of the Energizing Bitcoin Podcast with his son Kingston to explore "The Unseen Truth About Bitcoin's Moral Impact." George’s journey from real estate and banking during the financial crisis to Bitcoin advocacy provides a compelling look into the ethical implications of decentralized finance. From his experience leading a megachurch to his role at BTC Inc, George shares how Bitcoin can address economic crises and transform corrupt systems. With insights into Bitcoin's growing influence and the next generation’s enthusiasm through Kingston, this episode offers a deep dive into the moral landscape of cryptocurrency.
Click here to watch a video of this episode.
00:00 - George and Kingston McHale
01:51 - George's Background in Bitcoin
07:24 - New Role at Bitcoin Magazine
09:56 - Thank God for Bitcoin Philosophy
10:36 - George's Influential Books
15:59 - I'm Not Your Bro Discussion
23:33 - Importance of Bitcoin-Adjacent Education
25:53 - Expanding the Bitcoin Community
28:21 - Parenting in the Bitcoin Era
31:06 - Incorporating Technology in Bitcoin
37:21 - What's Next for Kingston McHale
38:30 - Keesa Boyce Insights
43:10 - AI and the Future of Work
47:35 - Upcoming Bitcoin Documentary
49:15 - Wrapping Up the Discussion
50:37 - Where to Buy the Bitcoin Book
Join over 4,000 professionals in the next-generation community for the energy industry 👉 https://bit.ly/4dwXWsE
Join us as we dive deep into the untold story of Ionic's rise in the Bitcoin industry, featuring guest John Penver. Discover how this finance and accounting veteran, with a rich history in public company management, has steered Ionic from the ashes of Celsius's bankruptcy into a promising new chapter in Bitcoin mining. In this episode, John shares industry insights and a contrarian approach to navigating the volatile world of Bitcoin and energy markets.
Key Takeaways:
- The Backstory: How Ionic emerged as a standalone business, distinct from Celsius.
- The Problem: Challenges faced by Bitcoin mining companies, including capital inefficiencies.
- AI to the Rescue: The role of AI in optimizing Bitcoin mining operations.
- Industry Insights: The convergence of traditional computing and Bitcoin mining.
- A Contrarian Approach: John's strategy for differentiating Ionic in a competitive market.
- The Future: Plans for Ionic's public listing and expansion in energy asset management.
Guest Bio: John Penver, Interim CEO of Ionic, boasts over 20 years as a public company CFO in finance and accounting. His expertise spans semiconductor technology and data center infrastructure, positioning Ionic for success in the evolving Bitcoin landscape.
00:00 - Welcome John Povey
01:32 - John Povey Background and Experience
04:58 - Celsius Network Crisis Explained
10:36 - Asset Light Business Model Overview
14:18 - Failures in 2021: Lessons Learned
18:00 - Importance of Owning Energy Assets
21:18 - Future Trends in Bitcoin Mining Companies
23:50 - Monetizing Stranded Energy Resources
28:00 - Going Public: Insights on IPO Market
36:17 - Megawatt Capacity: Current Status
37:11 - Targeted States for Expansion
39:56 - Q&A Session with John Povey
40:20 - Conclusion and Key Takeaways
https://www.instagram.com/digitalwildcatters/
https://www.tiktok.com/@digitalwildcatters
https://www.facebook.com/digitalwildcatters
https://twitter.com/DWildcatters
Join over 4,000 professionals in the next-generation community for the energy industry 👉 https://bit.ly/4dwXWsE
In this episode of Energizing Bitcoin: Watts Up?, Jake and Justin dive deep into the collision of AI and Bitcoin, exploring the latest developments and industry insights. Join them as they navigate through the rapidly evolving landscape where AI's integration with power and Bitcoin mining is reshaping the industry. Discover how Crusoe's monumental fundraising of $3.4 billion sets new benchmarks and what it means for the future of energy markets.
Key Takeaways: The duo discusses Crusoe's evolution from flare gas mitigation to a 200-megawatt AI data center venture, highlighting the shift in focus from traditional operations to innovative tech-driven solutions. They also delve into the controversial HBO documentary "Electric Money" and its attempt to unmask Satoshi, bringing attention to Bitcoin's cultural impact.
The Backstory: From their pioneering days in flare gas mitigation, Crusoe's journey reflects the dynamic shifts within the Bitcoin space.
AI to the Rescue: The integration of AI is not just an add-on but a strategic pivot, offering new revenue streams amid fluctuating Bitcoin market conditions.
Industry Insights: With AI demanding unprecedented power, the discussion touches on how energy strategies are adapting to accommodate new tech giants.
The Future: As AI and Bitcoin continue to intersect, Jake and Justin provide a contrarian approach to understanding the potential long-term impacts on mining and energy sectors.
00:00 - Intro
00:42 - Crusoe raises $3.4B in Funding
04:24 - Electric Money and Bitcoin
09:21 - Marathon Mining Goes Off-Grid
14:55 - Election Impact on Bitcoin Market
19:55 - Our Updated Mission in Crypto
20:48 - Riot Blockchain Open to AI Innovations
23:40 - Miners vs AI: The Future of Mining
25:20 - Will AI be Overbuilt in Crypto?
27:30 - What Size AI is Looking for in Bitcoin
29:35 - AI and Bitcoin Mining Synergy
39:00 - Future Episode Ideas on Bitcoin