The Pomp Podcast #1510 Jason Les | Big Money Is Coming To Bitcoin Mining
63 snips
Mar 20, 2025 Jason Les, CEO of Riot Platforms, dives into the dynamic world of bitcoin mining. He discusses the evolving landscape of mining operations, emphasizing innovative energy solutions in Texas. Les sheds light on the strategies for capital allocation, weighing mining against direct purchases of Bitcoin. He also highlights how resilience during market downturns is crucial for long-term success. With a focus on cutting-edge technology like immersion cooling, this conversation reveals the industry's push for sustainability and efficiency in a competitive market.
AI Snips
Chapters
Transcript
Episode notes
Riot's New Strategy
- Riot Platforms is leveraging its Bitcoin mining infrastructure and power assets to enter the AI and high-performance computing (HPC) market.
- This new strategy allows Riot to capitalize on the growing demand for power in these sectors.
Riot's Facilities
- Riot Platforms has two flagship facilities in Texas, Rockdale (700 MW) and Corsicana (1 GW), strategically located near major data center markets.
- They aim to secure long-term contracts with hyperscalers, providing attractive power rates and generating stable cash flows.
Miners as Energy Companies
- Bitcoin miners are increasingly identifying as energy companies, focusing on providing power solutions rather than just Bitcoin mining.
- This shift reflects a broader approach to maximizing asset value and exploring diverse use cases for their infrastructure.