Blockspace: AI & Bitcoin

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. Welcome back to The Blockspace Podcast! Today, Nazar Khan, CTO of TeraWulf, joins us to talk about the company's expansion into AI and HPC. We dive deep into their new sites in Kentucky and Maryland, the strategy behind repurposing brownfield industrial infrastructure, and why battery storage is the key to grid reliability. Nazar explains the transition from bitcoin mining to AI loads and how TeraWulf plans for its bitcoin mining fleet amid the AI expansion. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * Targeting 480MW capacity in Kentucky by H2 2027. * Maryland site to feature 1GW load and generation. * 500MW battery storage planned for Maryland campus. * Targeting energy availability in MD by 2028-2029. Timestamps: 00:00 Start 04:07 Kentucky site 06:33 Maryland site 08:25 Redundant power 10:13 Battery storage 13:40 New generation 14:49 Tenants for sites 17:08 Brownfield sites 19:28 Lake Mariner & Abernathy sites 24:28 Geopolitical concerns 27:49 Managing a power plant 33:55 168 megawatts 40:55 Local pushback on new data centers 48:21 Bitcoin mining future 👉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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Liang Wang, VP of Canaan and ASIC/mining executive, discusses Canaan’s Texas acquisitions and rapid 60.9% ASIC sales growth. He covers using stranded energy, behind-the-meter pilots for heat reuse, North American expansion, China’s regulatory landscape, and how AI demand is reshaping chip supply and mining economics.

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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 Seedor of Seedor & Bitsurance joins us to talk about the rising threat of physical "wrench attacks" and advanced Bitcoin self-custody. We discuss the 70% spike in violence against BTC owners, using Miniscript for time-locked security, and how AI-driven phishing is bypassing video IDs. Chris explains why simple seed phrases are high-risk and how protocol changes like covenants could revolutionize reactive security for all holders. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * Physical attacks up 70% since 2024  * 74 documented Bitcoin physical attacks  * 1 in 10 kidnappings resulted in death  * Successful attacks occur 66% of the time  * $1.5B Ethereum stolen in Bybit hack  Timstamps 00:00 Start 03:26 Chris has a real job? 05:40 Hardware wallet vs steel backup? 08:12 Understanding your risk surface area 11:17 Attacker landscape 15:50 Shift in mindset 17:10 Even smart people get scammed 18:38 AI supercharging scams 20:50 New ways of securing your BTC 23:48 What's happening technically 25:58 Security on other chains 28:42 Softforks 31:53 Tools for the baddies (ordinals / runes) 👉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 poolBitcoin 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Welcome back to The Blockspace Podcast! Today, Dr. Hashem Hashemian, President of the American Nuclear Society and CEO of AMS, joins us to talk about the massive resurgence of nuclear energy in the United States. We dive into the shift from decommissioning plants to life-extensions of up to 100 years, the economic impact of AI and data centers on power demand, and the $12 billion investment flowing into Tennessee's nuclear hub. Dr. Hashemian explains why nuclear fell out of favor and the challenges the industry faces as it gets back on its feet. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * 94 nuclear plants produce 20% of US power. * License extensions aim for 100-year lifespans. * $12B committed for nuclear fuel refining in Oak Ridge. * $100M Tennessee state funding for nuclear dev. * Global nuclear must triple for climate goals. * $1.7B Oklo recycling plant coming to Tennessee. Timestamps: 00:00 Start 05:51 Tennessee represent 07:56 State of the nuclear industry 10:42 Nuclear faded in USA 17:19 Barriers to Nuclear development 20:12 Reforming the Nuclear Regulatory Commission 27:01 Red tape 29:47 What other policies would be good? 32:41 China copying 34:17 Remaining chokepoints 38:05 States leading the charge 40:46 Are SMRs really a thing? 44:18 Why are SMRs taking so long? 46:21 Fusion? Are we still talking about this? 48:56 Recycling fuel 👉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 poolBitcoin 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Welcome back to The Blockspace Podcast! Today, Charlie and Colin cover the Block’s 40% workforce reduction and why the stock ripped 20% on the news. We also dive into the bitcoin mining conditions that are driving hashprice to all-time lows, Blockspace’s scoop that Magic Eden is sunsetting its Bitcoin Ordinals marketplace, MARA’s latest AI partnership, and the Terra/Luna lawsuit against Jane Street. Plus, Luxor’s Michael San Miguel joins the show to discuss the ins and outs of the GPU market.  Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * Block laid off 40% of its 10,000 employees. * Block stock surged 20% after the layoff news. * Bitcoin hash price hit an all-time low of $28. * Bitcoin difficulty adjusted upward by 14.73%. * Magic Eden is shutting down BTC and ETH marketplaces, multi-chain wallet * Bitdeer sold all its bitcoin; Cipher plans to sell its bitcoin in 2026 * MARA forms partnership with data center developer Starwood Timestamps: 00:00 Start 03:33 Hashrate update via Luxor’s Hashrate Index 09:29 Block lays off 40% of staff 16:37 Magic Eden shutting down 25:54 GPUs & compute 28:03 GPU vs ASIC complexity 29:04 Upgrading hardware 32:16 Finding a compute buyer 34:00 Powershell vs Neocloud 37:12 Compute still in price discovery mode 42:05 MARA earnings 45:20 CIPHER dumping bags 48:44 Jane Street is the new boogyman 59:34 Everyone's short MSTR 👉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 poolBitcoin 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Welcome back to The Blockspace Podcast! Today, Rapha Zagury, CEO of Elektron, joins us to talk about the company’s management of Tether's massive 50 EH/s bitcoin mining portfolio. Rapha breaks down Elektron and Tether’s partnership, the incipient market bifurcation between AI/HPC and Bitcoin mining, and why he believes progress is directly correlated with energy use. We dive into the legal origins of Elektron, the company’s global footprint across 32 sites, and the future of mining as Tether and Elektron double down on hashrate while the rest of the industry eyes AI. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * Tether runs 50 EH/s with Elektron * Greenfield sites trading at $1/MW amid AI boom * Elektron manages ~200,000 ASICs globally * Operations span 32 sites across 5 countries * AI and BTC Mining bifurcation expected in 6 to 12 months Timestamps: 00:00 Start 05:31 BTC market crash 07:59 Who is Rapha? 11:16 What is Elektron? 14:46 Swan & Tether legal struggle 18:00 Asset light build out plan 23:20 Business setup 25:05 Why mine? 33:18 Hashrate geographic distribution 38:54 Bad places to mine BTC? 40:50 AI & HPC 48:56 3.8% staff costs 52:11 Hashrate growth 57:28 There's ALWAYS stranded energy 59:44 Elektron IPO? 👉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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Join hosts Charlie Spears and Colin Harper for weekly insights, stories, and interviews in Bitcoin, AI/HPC and more. With 3 shows per week, we'll fill you up on what's actually happening in the world of emerging tech assets. If you're an investor in public data centers, mining companies, or bitcoin, this is the show for you. Learn more about your ad choices. Visit megaphone.fm/adchoices

Amanda Fabiano, former Head of Mining at Galaxy and now with Nakamoto, joins us to talk about the shift from Bitcoin mining to building diversified Bitcoin operating businesses. Why the "HODL-only" strategy is evolving for Nasdaq-listed companies, the importance of recurring revenue, and how NAKA is positioning itself as a leader in the next phase of the Bitcoin financial infrastructure. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Strategy focused on recurring revenue models. • Transition from mining to operating businesses. • Shift toward diversified crypto business models. • Market adjustment for Bitcoin specific firms. Timestamps: 00:00 Start 05:26 Amanda joins NAKA 07:18 BTC Inc brands 12:06 Valuing companies 16:45 Kindly MD deal 20:18 Next steps & business lines 21:53 Raising debt 28:49 Senior debt obligation 32:54 Preferred equity 34:17 Dividends? 34:58 David Bailey on both sides of the books 40:31 Using proceeds to buy BTC not debt 44:21 NASDAQ delisting notice 49:34 Wrap up 👉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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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. Matt from CoinShares, Kaan from Luxor, and Jay from Lygos join us to talk about the massive 14.7% Bitcoin difficulty adjustment and the impact of the recent Arctic blast on North American miners. We dive deep into Luxor's 21-month mining analysis, showing why hedging has outperformed spot mining since the 2024 halving. Finally, we discuss Ledn's historic Triple B-rated Bitcoin-backed bond and how institutional investors are beginning to view Bitcoin as high-quality collateral compared to traditional assets. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: • Bitcoin difficulty spikes +14.73 • Hashprice drops to all-time low of $30/PH/day. • ERCOT uneconomic hours rose over 900%. • Ledn bond rated Triple B- by S&P Global. • Hedging outperformed spot mining in 2025 Timestamps: 00:00 Start 02:56 Bombshell difficulty adjustment!!! 20:08 Ledn's $188M Bitcoin-Backed Bond Securitization 31:03 Nakamoto acquires Bitcoin Conference & UTXO Mgmt 38:24 Datacenter cry corner/culture corner 👉CleanSpark, America's Bitcoin Miner! 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. Learn more about your ad choices. Visit megaphone.fm/adchoices