Through conversations with crypto’s brightest lights, Gwart embarks on a one-man crusade to find the real value of cryptocurrency. Once weekly episodes with guests.
Pseudonymous, Gwart is a crypto-Twitter troll and thinkboi seeking answers to non-existent problems in blockchains. Follow along for the most colorful conversations in crypto.
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Through conversations with crypto’s brightest lights, Gwart embarks on a one-man crusade to find the real value of cryptocurrency. Once weekly episodes with guests.
Pseudonymous, Gwart is a crypto-Twitter troll and thinkboi seeking answers to non-existent problems in blockchains. Follow along for the most colorful conversations in crypto.
Bitcoin miners are front & center for the new energy trade
The Gwart Show | Blockspace Media
1 hour 13 minutes
1 month ago
Bitcoin miners are front & center for the new energy trade
Rory Murray, Director of Digital Asset Management at Cleanspark, joins us to discuss his journey from global macro investing to leading Bitcoin mining operations, the Griid acquisition, cost structures, hedging strategies, and how the business is evolving into a hybrid energy‑finance powerhouse.
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Notes:
Clean Spark: “America’s Bitcoin miner”
Margins shrink toward zero over cycles
Hedging via covered calls at $65K
Power contracts lock in multi‑million deals
Bitcoin used as collateral for loans
Goal: monetize megawatts, not just hash
Timestamps:
00:00 Start
04:38 GRIID role
14:36 Managing BTC treasury
20:21 HODL strategy
24:09 Ellipsis Labs
25:10 Miners vs Treasury Companies
33:22 Miners could be better treasury companies
55:14 What is "cost to mine 1 BTC"?
58:50 Miners will fail
1:04:16 Future miner income diversity
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The Gwart Show is sponsored by Ellipsis Labs, the builders behind Atlas, a blockchain for verifiable finance and Phoenix, an on-chain orderbook DEX with over $50 billion in unincentivized volume.
If you're interested in a mission-driven company, Ellipsis Labs is hiring engineers passionate about crypto and finance to work on Atlas.
Learn more and apply on Twitter at @Ellipsis_Labs and @atlasxyz.
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The Gwart Show | Blockspace Media
Through conversations with crypto’s brightest lights, Gwart embarks on a one-man crusade to find the real value of cryptocurrency. Once weekly episodes with guests.
Pseudonymous, Gwart is a crypto-Twitter troll and thinkboi seeking answers to non-existent problems in blockchains. Follow along for the most colorful conversations in crypto.
