Patrick Fleury, CFO of TeraWulf Inc. (NASDAQ: WULF), joins the podcast to discuss everything you need to know about bitcoin mining.
TeraWulf owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States.
For more information and to subscribe to TeraWulf, please visit: https://www.terawulf.com/
Chapters:
[0:00] Introduction + Episode sponsor: Santangel's Review
[1:34] Patrick Fleury's background / difference between oil and gas mining to bitcoin mining at TeraWulf
[6:10] Defining hash rate and hash price
[12:48] Halving
[14:10] ROI for every new bitcoin miner they build
[19:04] Cost of capital / power costs
[24:33] Economies of scale and growth for growth's sake
[28:05] ROI on a 20-year investment in bitcoin miner (when considering halvings happen every 4 years) / cooling / low cost mining strategy
[33:41] What happens if bitcoin price drops (from mining operation perspective)
[38:13] Why issuing shares and directing all cash flows to pay down debt the best use of capital?
[40:15] Valuation and where Patrick thinks bitcoin miners should trade / replacement costs on assets in the ground
[45:38] Mining facilities, power, AI plays, turning over to HFC and AI machines / power capacity, source of power
[54:43] Nautilus facility / bitcoin mining tax / expanding internationally
[100:16] Capital allocation
[1:01:36] M&A / value discrepancies / final thoughts
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