The Mining Pod | Blockspace Media Picking Winners in the Bitcoin Miner AI Race w/ Kevin Dede
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Nov 4, 2025 Kevin Dede, Managing Director and Senior Technology Analyst at H.C. Wainwright, provides insights on bitcoin miners transitioning to AI and high-performance computing. He argues that AI presents a larger growth opportunity than traditional mining, discussing the implications of recent deals, like IREN’s partnership with Microsoft. Dede also analyzes the failed CoreWeave-Core Scientific merger, offering perspectives on financing models and the potential for future AI-miners. He concludes by identifying promising miners with AI exposure, emphasizing the strategic importance of joint ventures.
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Miners' Core Strength Is Infrastructure
- Bitcoin miners excel at building facilities, arranging power deals, and delivering infrastructure for compute customers.
- Neoclouds require a software and networking stack that most miners do not yet possess.
AI Still Early With Huge Runway
- Kevin Dede is bullish on AI's long runway and enterprise adoption despite mixed early ROI studies.
- He compares AI's transformational potential to the internet but believes AI has even more weight behind it.
Enterprise Demand Favors Private HPC
- Enterprises will demand private, secure HPC partners for proprietary data, creating opportunities beyond public clouds.
- Miners can fill this if they offer privacy and tailored AI tools for enterprise needs.