Ai.
First and foremost… These are just my random musings and in no way represent the opinions of my employer,
@CleanSpark_Inc
Having the opportunity to direct our investor relations and capital markets interactions, I’m frequently asked about our plans to expand into AI, since virtually every
#bitcoin mining company on the planet is now an expert on that subject matter.
The answer is quite simple. The answer is also the same reason we got into
#Bitcoin in the first place.
Scarcity and Value.
You see, as of today, there are only 450 new Bitcoin that are produced every day. That number will reduce again by half in four years. Bitcoin is the monetization of energy, coupled with proof of work to support hard money that can’t be debased, devalued, or diluted.
The more companies hashing to compete for those 450 exceedingly rare bitcoin, the greater the difficulty and the more energy expenditure required to succeed. Now, over and above those 450 virgin, ‘spark’ly new Bitcoin, we also receive transaction rewards for processing power on the blockchain. Every day brings a new announcement of a bitcoin miner pivoting to AI. I love every single time that happens. I’ll volunteer my personal time to assist them in unplugging all of those bitcoin mining ASICS to plug in new servers to run ChatGPT algorithms. Please unplug. Please pivot.
Since the very beginning, we recognize the value of monetizing energy, owning our own infrastructure, building, highly efficient, data centers, and partnering with the communities in which we operate. This creates a win – win opportunity. We don’t believe in fixed price power agreements that put the utility at risk, and we also don’t believe in third-party hosting as a core business strategy because, quite simply, all you own at that point are computers.
We believe in bitcoin.
You see, there are hyper-scalers that can build HPC/AI data center capacity with multi billion if not trillion dollar market valuations. The one thing they cannot do is work quickly in bite-size pieces with hard-working, blue collar, rural American communities in strengthening their power grid, lowering their energy prices, incentivizing the decarbonization of their energy mix, and doing so quickly and efficiently.
Tick-Tock, another block.
We own our data centers. We own the land in which they are constructed, and we own the power contracts that supply the transformers. Could we pivot to an AI/HPC model? Absolutely. And we could do so in the same, rapid-fire, seamless way that we went from the “last kid on the bitcoin mining bus”, to one of the biggest and most efficient vertically integrated
#bitcoin miners in the world.
The question is simple… Is data center capacity becoming more scarce? The answer is, no. It’s simply a matter of finding and building more megawatts, buying more land and building more data centers. Demand for data centers will continue to grow. Supply of bitcoin will continue to shrink. One has no limit. The other is precious, finite, and scarce, by design.
So, from my simple, single plane thought process… If an invaluable and arguably, perfect money is becoming increasingly scarce with each passing day, why on earth would I choose to invest your precious resources, chasing the hot stock tip buzzword of the day, be it HPC, hyper scaling, AI, Ethereum, Dogecoin or anything else…
Data centers have been around for decades. They’re not going anywhere. The opportunity to pivot to one won’t go away either.
Bitcoin mining will.
21 and done.
So with that said, from me to you, we deeply value every precious nickel of capital we raise. We’ve now raised about ~$1.6B, and with that, grown a company worth ~$4B, and I commit to use all of the information available to always do our best for you, our partners.
Now, who needs a hand unplugging some miners?