CoinDesk Podcast Network THE MINING POD: Cipher Mining’s AI Play w/ Tyler Page and Chris Totin
Jun 3, 2025
Tyler Page, CEO of Cipher Mining with a Wall Street background, and Chris Totin, CCO with experience building data centers for Google, dive into their company's exciting pivot toward AI and high-performance computing. They discuss SoftBank's $50M investment and the unique challenges of developing cutting-edge data centers. The duo shares insights on reducing electricity costs and the growing demand for hybrid facilities that combine AI and Bitcoin mining, revealing their vision for the future of the industry.
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Backgrounds of Cypher Leaders
- Tyler Page started his Bitcoin career in 2017 at NYDIG and later founded Cypher in 2021.
- Chris Totin, chief construction officer, has experience building data centers for Vantage, Google, and large power plants worldwide.
Bitcoin Mining's Unique Challenges
- Bitcoin mining is fascinating because it intersects with many major modern issues like energy, AI, and supply chain.
- The industry is unique as mining facilities are usually equity-financed due to difficulty securing debt financing.
HPC Easier to Finance Than Mining
- HPC data centers are more financeable than Bitcoin mining rigs because of predictable revenues.
- The difficulty in debt financing for miners is due to volatile Bitcoin prices impacting collateral value.