IonStream's business model and parallels to mining

A Zoomer arrested for stealing $46M from the US Marshals, Kraken makes history with a Fed Master Account, and IREN builds to 150,000 GPUs.

Get your tickets to OPNEXT 2026 before prices increase! Join us on April 16 in NYC for technical discussions, investor talks, and intimate conversation with the brightest minds in Bitcoin.

Chris Johhansen of Ion Stream and Kaan Farahani of Luxor join us to talk about the insane arrest of John DeGuida for allegedly stealing $46 million from the US Marshals Service. We break down Kraken Financial’s historic Fed Master Account and what a "skinny" seat at the table means for the industry. Plus, we analyze the massive pivot from ASICs to GPUs and review the tumultuous Bitcoin hash rate data from February.

Subscribe to the newsletter! https://newsletter.blockspacemedia.com

Notes:

* Zoomer stole $46M from US Marshals Service (his dad!)

* Kraken gets first Fed Master Account.

* Iren expanding GPU fleet to 150,000.

* Difficulty adjustment targeting 7.5% up.

Timestamps:

00:00 Start

04:53 Difficulty Report by Hashrate Index

07:49 $46M Stolen from US Marshals Service

15:35 Kraken Financial Granted Federal Reserve Master Account

21:48 AI Compute & Neocloud Dynamics

24:11 AI boom vs crypto boom

27:39 AI inference vs training

30:44 Scoping AI deals

32:41 H100 are still viable?

36:35 Hashrate

37:46 February suprises

44:40 What ASICs are profitable?

45:36 More hashrate declines?

47:36 5 cents per KWH

49:29 Hashrate prediction

52:51 IREN Expands GPU Fleet

1:01:44 Cry Corner: Miners Are Dumping BTC?

👉CleanSpark

CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world.

👉Luxor, Blockspace's preferred mining pool

Bitcoin mining revenue changes every day. Difficulty adjusts. Fees move. Prices shift. And that makes it hard to plan. Luxor Pool’s Fixed Payouts let miners lock in revenue at a guaranteed daily rate for up to 18 months. According to Hashrate Index, miners who used rolling fixed payout strategies since the last halving have outperformed FPPS mining by up to 15 percent. Fixed Payouts give you predictable daily revenue, so you can plan, budget, and grow with confidence. With Luxor, uncertainty is optional. Learn more at luxor.tech/mining