#069 – Dan Morrison – Turning Stranded Waha Gas into Bitcoin

Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) sit down with oil-patch veteran-turned-Bitcoin-miner Dan Morrison to unpack Waha-gas economics, off-grid data centers, and why 2025 may finally be the oil-and-gas adoption year for Bitcoin mining.

Show Notes

00:00 Wildlife-podcast banter, Missouri recording location, and Dan’s long-overdue appearance
 01:42 First meeting at the 2021 “secret” Houston Bitcoin meetup
 03:10 Dan’s background: bankrupt E&P turnaround and “MBA-on-steroids” lessons
 05:26 Buying distressed New Mexico assets & naming the venture “Amalgamated Sludge”
 07:48 Paying $80/ TH for ASICs at the cycle peak and booting 1.3 MW of self-mining
 10:55 Turning negative Waha gas into revenue: hosting deals, vintage ASIC strategy, 8-month ROIs
 14:08 Why old oilfield operators resist Bitcoin—and what finally breaks the inertia
 16:41 Basis differentials, dashed strip-price hopes, and why 2025 looks like the adoption inflection
 19:15 Valuing green- vs brownfield sites for AI: speed-to-energize premiums & $/MW math
 22:37 Gas-fired turbines, Elon’s Memphis play, and “BYOP” (bring your own power) legislation in Texas
 25:02 “Moat mining”: pairing AI inference loads up front with flexible Bitcoin mining in back
 27:40 Hydrocooling vs immersion and designing mines to survive the next two halvings
 29:55 EPA rollbacks, CO₂ rules, and a regulatory pendulum swinging toward gas gen-sets
 32:04 Ideal 2025 build: low-basis gas, Rocky Mountains or Permian, hydro-cooled S19-class fleet
 34:30 Bridging cultures: tech speed vs. oil-patch hierarchy when herding data-center cats
 36:12 Texas Mining Fight Club group texts, community collaboration, and swapping spare breakers
 38:45 Future meetups, “super-secret” May 19 event, and final shout-outs