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Bitcoin hit $78,000 this morning
and all of a sudden the markets 

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feel like they just changed 
overnight. 

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The Clarity Act is close 
according to JP Morgan, the 

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Strait of Hormuz is officially 
open again, Stocks just bounced 

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to new all time highs. 
Oil has crashed over 30% in 10 

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days and Michael Saylor is 
officially back above his break 

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even price. 
The real question though, is 

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this the beginning of the new 
bull market or a historic fake 

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out? 
That's what we're all thinking 

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anyways. 
Let's get through a lot of this 

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source material. 
So obviously when you think 

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about what happens in the 
Bitcoin price, you're always 

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looking for like what are the 
catalysts? 

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What are the reasons for this 
price movement that we're seeing

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right now? 
And we've been hearing a lot of 

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different takes. 
Some of them have been, hey, the

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Clarity Act is once it passes, 
price is going to go up a lot. 

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Obviously, the macro 
geopolitical uncertainty and 

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then just general sentiment of 
people actually buying Bitcoin 

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and stepping back into the 
market, which really is a tail 

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end of the general macro 
uncertainty. 

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But anyways, let's get into 
this. 

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So yesterday or actually this 
came out on Wednesday, but it 

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was really circulating 
yesterday. 

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JP Morgan says the Clarity Act 
is nearing the finish line. 

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As talks advance, lawmakers have
reportedly reduced their 

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disagreements to just a few 
issues. 

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The long standing effort to 
create a formal set of rules for

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the American cryptocurrency 
market is entering the final 

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stages, according to a new 
report from JP Morgan Chase. 

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Which I did, you know, Fact 
Check. 

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I, I did try to go find it for 
you guys. 

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The much anticipated Clarity Act
is nearing a significant 

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breakthrough as lawmakers and 
regulators resolve their primary

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disagreement. 
So after this talk here, there's

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been really from our 
perspective, wow, my voice cry 

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from our perspective, there's 
been one key issue that's been 

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stopping the Clarity Act and 
that is of course, the stable 

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coin yield. 
Well, it seems like that is 

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resolved from what we're hearing
from the speculation, maybe the 

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insider leaks, it seems like the
banks have finally come to the 

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table and they've agreed with 
Coinbase over the stablecoin 

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yield And the other points, 
which didn't really get as much,

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I don't know, fanfare. 
There's about like 10-11 other 

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points that were really being 
discussed. 

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Well, it seems like, excuse me, 
guys, it seems like we've gotten

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from about 12 disputed points 
now to the final two to three. 

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And we did hear yesterday that 
now the essential, you know, 

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deadline here is still not going
to be the end of April, but it 

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seems like we might get 
something by the end of April 

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and then they're hoping that by 
the summer. 

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So maybe this is one of the 
catalysts. 

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Maybe investors are starting to 
feel like, OK, this is this is 

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going to happen. 
The Clarity Act's going to pass.

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Now I can actually start to in 
bulk in in size get into 

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Bitcoin. 
Maybe that's one of the 

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catalysts, but I think probably 
the bigger catalyst is that the 

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Strait of Hormuz is officially 
back open. 

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And I'll show you guys the Trump
tweets in regards to this so 

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that we can kind of speculate 
over what exactly is going on. 

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But here we go. 
Here is Donald Trump tweeting 

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this morning at 9:57. 
And it goes. the US will get all

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nuclear dust quotes created by 
our great B2 bombers. 

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No money will exchange hands in 
any way, shape or form. 

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The deal is in no way subject to
Lebanon either, but the US will 

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separately work with Lebanon and
deal with the Hezbollah 

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situation in an appropriate 
manner. 

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Israel will not be bombing 
Lebanon any longer. 

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They are prohibited from doing 
so by the US. 

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Enough is enough. 
And then later on, it was the 

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Strait of Hormuz. 
Here we go. 

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Now that the Hormuz Strait 
situation is over, I received a 

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call from NATO asking if we 
would need some help in all 

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caps. 
I told them to stay away unless 

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they just want to load up their 
ships with oil. 

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They were useless when needed. 
A paper tiger. 

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President Donald J Trump again. 
Further, Iran has agreed to 

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never close the Strait of Hormuz
again. 

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It will no longer be used as a 
weapon against the world. 

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President Donald J Trump, Now, I
think this is probably the 

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biggest catalyst for what's 
going on. 

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As we know, when there is 
general market uncertainty, 

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geopolitical attention, people 
retreat and they go into what 

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they're most comfortable with, 
which is obviously cash. 

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And I've showed you guys the 
data points. 

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I've showed you guys the extreme
amount of capital that is in 

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cash and now maybe we're 
starting to see that that 

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capital is starting to go back 
into the markets. 

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And just to kind of show you 
what is actually going on with 

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that, we should definitely go 
look at what's going on with 

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stocks. 
So here is the S&P 500 and look 

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at this tear, guys. 
This is literally a ridiculous 

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chart here. 
Oh, wait, I didn't pull it up. 

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Look at this tear right here on 
S&P 500 the last couple of days.

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Huge gap up and now all time 
highs. 

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So we've all been watching 
what's going on in stocks and 

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equities because obviously, as 
Trump has said in the past, he 

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is totally looking at the stock 
market as an indicator of how 

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he's doing as a president. 
Well, it seems like equities. 

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It seems like stocks are 
responding very favorably to 

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this idea that the Strait of 
Hormuz is back open. 

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Maybe we did avert geopolitical 
global calamity because now it 

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seems like, hey, I know you guys
don't like to say it and I know 

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I'm not a plan truster, but 
maybe this was Trump's plan all 

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along. 
I don't know, guys. 

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It seems to be working out. 
And yes, I, I can hear Down 

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Under Blues yelling at me in the
chat. 

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It's like you guys have been 
flip flopping on this. 

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Hey, well, you know, we're, 
we're just watching the markets 

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and the markets have been 
literally whipsawing here. 

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And then here we go. 
We got the NASDAQ QQQ similar 

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all time highs. 
It's ripping pretty much in the 

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same fashion. 
And then I will find you guys at

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Dow Jones and we are almost back
at that infamous $50,000 price 

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point. 
Everything is ripping right now.

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Everything is going up in terms 
of stocks and equities. 

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So I think the geopolitical 
uncertainty of the Strait of 

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Hormuz closing, it's probably 
the biggest catalyst for what 

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we're seeing this morning. 
And here I will show you the 

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Bitcoin price because I know 
actually we'll, we'll do the one

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minute chart just 'cause I know 
you guys like it. 

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You guys can see there, it's 
doing all right. 

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Here is kind of the what is this
7675K breakthrough? 

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It's looking very, it's looking 
very strong, it's looking very 

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healthy. 
Now the big question in terms of

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Bitcoin is, is this the is this 
the breakout or are we seeing 

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the final bull trap? 
The the final kind of, hey, you 

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know, as Nico was probably going
to say the dead cat bounce here.

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But on that, no, you know, here 
is the liquidations from this 

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morning. 
You can see in the last 24 hours

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we've seen about 360 million 
dollars in shorts liquidated. 

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You can see the liquidation map 
here another chart kind of 

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interesting price points above 
78. 

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If we breakthrough 78 then we're
probably going higher. 

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And I, I saw a lot of people 
saying saying that 80K by the 

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end of the day, but we'll we'll 
see who knows who knows All I'm 

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saying is price moves up. 
We all start feeling a little 

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better now. 
On that note, going over to the 

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strategy dashboard, remember the
big concern about Michael Saylor

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being liquidated because the 
price dropped under 75 K? 

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Well, as you can tell, as you 
can probably guess, he's back in

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the green, guys. 
So his $60 billion in Bitcoin 

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reserve is now finally back 
positive. 

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He's at a 4% gain or 4.37% gain.
So the biggest bull right now 

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and constantly still buying. 
Actually, I didn't even check 

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the stretch numbers this 
morning. 

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Maybe I'll pull that up when 
Nico goes. 

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And then another kind of 
indicator of where we are the 

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negative funding rates hit 
yearly high is Bitcoin test 76. 

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So Bitcoin's recent rally 
towards 76,000 faces dilemma, 

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leaving investors split on its 
near term outlook Funding rate 

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for Bitcoin if he paid by 
derivatives trader. 

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Wow, dude. 
I'm like going through puberty 

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to that derivatives trader to 
maintain the alignment between 

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spot and futures. 
Prices have remained negative 

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for over a month and hit the 
highest level this year, 

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according to Coin Coin Glaze Wow
Coin glassed out of negative 

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funding rates indicate investors
are shorting the recent rally 

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with the expectation of a 
reversal. 

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The divergent between bearish 
derivatives positioning and 

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bullish spot catalyst sets up a 
potential short squeeze or a 

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bull trap depending on which 
side breaks first. 

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Funding rates this negative tell
you the market is heavily short.

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It really correlates to we 
might, we might have, we might 

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have seen the bottom guys. 
We we might have passed the 

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bottom. 
It's basically the TLDR of this.

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I don't want to jinx it. 
Everyone like we can't say that 

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guys, you know, we, we, we can't
actually say that because now 

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the algo traders are going to 
short everyone because we're all

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feeling good. 
But hey, we, we might, we might 

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be out of the woods, Nico, we 
might be out of the woods and 

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and now and now here, here's the
bearish take. 

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Probably no, he was actually 
bullies this morning. 

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It's not. 
The bearish take. 

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I'm just pull this up, Sailor 
posting this morning an AI image

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of him on his yacht Bitcoin and 
chill, you know, once again, a 

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vindication for sailor. 
But what I will say is like, 

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look, guys, we had five months, 
five months of negative price 

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action. 
I mean like that is basically 

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unheard of in Bitcoin. 
Terms, right? 

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You don't have 5 months of 
negative price action, so 

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inevitably there was going to be
some type of bounce. 

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And I just want to kind of walk 
you guys through the vibes, 

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right? 
What were the vibes last week 

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and the week before? 
The vibes were not good. 

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It was like, you know, typical 
of what you would see like near 

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a bottom right, like you would, 
you, would, you would sense the 

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apathy, the excitement was just 
taken out of the room and all of

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a sudden, right with Trump, kind
of, I don't know if he's doing 

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this on purpose because I, I, I 
was on record. 

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00:10:53,880 --> 00:10:57,560
You guys heard me saying this. 
I was like, look like the Strait

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of Hormuz situation, like that's
very difficult. 

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00:11:00,840 --> 00:11:03,080
I don't know how he's going to 
get that straight open. 

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00:11:03,720 --> 00:11:06,920
But it seems like again, he's, 
he's leveraging Lebanon, right? 

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00:11:06,920 --> 00:11:09,880
Because that's something that's 
very important for, for Iran 

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00:11:11,680 --> 00:11:14,600
and, and Hezbollah in the, in, 
in that specific region. 

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And you know, he did it right. 
He opened the Strait of Hormuz. 

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00:11:19,160 --> 00:11:22,280
I think the market, including 
myself did not believe he was 

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00:11:22,280 --> 00:11:24,240
going to be able to do that. 
He did that. 

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00:11:25,000 --> 00:11:27,840
And of course for energy 
markets, as you saw oil, you 

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know, dropped 30% and the 
markets are reacting to the news

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00:11:33,480 --> 00:11:37,560
straight opening now. 
Of course, you know the the the 

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00:11:37,560 --> 00:11:39,920
S&P, right? 
The S&P of the NASDAQ. 

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00:11:40,120 --> 00:11:42,440
Both both the ribbon. 
They did. 

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00:11:42,440 --> 00:11:46,280
They hit all time highs. 
S&P 500 and NASDAQ hit all time 

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00:11:46,280 --> 00:11:48,520
highs. 
Dow Jones is almost at all time 

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00:11:48,600 --> 00:11:50,560
highs. 
That's kind of like a big deal. 

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Now, I think on the question on 
everybody's mind is right, and 

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this is what you know, the like 
the famous are very popular. 

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00:11:59,160 --> 00:12:00,280
Let me say, let me rephrase 
that. 

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00:12:00,280 --> 00:12:04,560
Very popular kind of TA experts 
in the Bitcoin community. 

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00:12:04,760 --> 00:12:08,080
They're basically like Bob Lucas
and Benjamin Cohen from into the

213
00:12:08,080 --> 00:12:10,240
crypto verse. 
They're basically making the the

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00:12:10,240 --> 00:12:13,240
case that, listen, this is this 
is normal in bear markets. 

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00:12:13,240 --> 00:12:17,880
You tend to have these types of 
bounces before Bitcoin hits new 

216
00:12:17,880 --> 00:12:19,840
lows. 
Now, I don't want to take the 

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00:12:19,840 --> 00:12:23,240
excitement out of the room. 
I, I still think it's really, 

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00:12:23,240 --> 00:12:27,000
really good that we're seeing 
Bitcoin tear up, you know, back 

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to, you know, the 7880K region. 
I think it will tap 80K. 

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00:12:31,520 --> 00:12:34,800
The question though on 
everybody's minds is, is this 

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00:12:34,800 --> 00:12:36,680
the end? 
Did, did we really just bottom 

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00:12:36,680 --> 00:12:38,320
out? 
Did we really just bottom out 

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00:12:38,320 --> 00:12:42,560
was 60K58K? 
You know, that region was that, 

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00:12:42,680 --> 00:12:44,560
you know, was that the cycle 
bottom? 

225
00:12:46,200 --> 00:12:50,400
If that is the case, again, as 
I've been saying for many months

226
00:12:50,400 --> 00:12:54,640
now, we truly are in uncharted 
territory, no pun intended. 

227
00:12:54,880 --> 00:12:58,520
Because again, this would break 
the having cycle theory 

228
00:12:58,920 --> 00:13:03,760
completely because Bitcoin would
have bottomed out a lot earlier 

229
00:13:03,800 --> 00:13:05,760
than what it would typically 
bottom out. 

230
00:13:05,760 --> 00:13:09,560
Typically it bottoms out about a
year after the peak, which would

231
00:13:09,560 --> 00:13:13,600
mean that the bottom would be 
around October of this year. 

232
00:13:14,400 --> 00:13:18,680
So could this be, you know, a, 
a, a, a dead cat bounce, a, a 

233
00:13:18,680 --> 00:13:21,880
bull trap, so to speak? 
It could potentially be that, 

234
00:13:21,880 --> 00:13:24,640
but I will say is like cherish 
this day. 

235
00:13:24,640 --> 00:13:27,840
You know, remember it reminds 
you that Bitcoin does go up, 

236
00:13:28,080 --> 00:13:30,520
right? 
That there is a number go up and

237
00:13:30,520 --> 00:13:33,840
also pat yourself on the back 
because we did go through. 

238
00:13:34,240 --> 00:13:36,440
Well, well, it's a little early 
to pat ourselves. 

239
00:13:36,440 --> 00:13:38,800
On that we we no, but it's good 
to celebrate. 

240
00:13:38,800 --> 00:13:43,280
Live in the moment, man. 
We did go through five months of

241
00:13:43,280 --> 00:13:48,440
literally Bitcoin continue to go
down month after month after 

242
00:13:48,440 --> 00:13:51,880
month after month after month. 
That is now broken. 

243
00:13:51,920 --> 00:13:56,160
Now again, to bring a little bit
of reality back into the room 

244
00:13:56,400 --> 00:14:01,200
again, ladies and gentlemen, 
this is typical in Bitcoin bear 

245
00:14:01,200 --> 00:14:03,280
markets. 
We do have these types of 

246
00:14:03,280 --> 00:14:05,200
bounces, right? 
This is normal. 

247
00:14:05,400 --> 00:14:11,680
But if the SNP and if the NASDAQ
continue to tear, I don't see a 

248
00:14:11,680 --> 00:14:16,320
world where Bitcoin continues to
go down because it's so 

249
00:14:16,320 --> 00:14:18,840
integrated into the traditional 
market. 

250
00:14:18,840 --> 00:14:22,400
So, you know, this time actually
could be different. 

251
00:14:22,400 --> 00:14:25,640
And another thing that I'll 
mention too is a lot of these 

252
00:14:25,640 --> 00:14:31,360
analysts not to, not to mention 
any names they were wrong on the

253
00:14:32,080 --> 00:14:35,840
kind of euphoric top that was 
potentially going to happen in 

254
00:14:35,840 --> 00:14:38,240
October and it never, never came
about. 

255
00:14:38,480 --> 00:14:41,440
So we had this top on apathy, 
right. 

256
00:14:41,520 --> 00:14:45,160
So if we had a top on apathy, 
that has never happened in 

257
00:14:45,160 --> 00:14:47,280
Bitcoin's history. 
This has never happened. 

258
00:14:47,280 --> 00:14:52,160
It's completely unprecedented. 
You can make a very solid 

259
00:14:52,160 --> 00:14:55,000
argument that the bottom is 
going to look a little bit 

260
00:14:55,000 --> 00:14:59,040
different because if you didn't 
have that euphoric blow off top 

261
00:14:59,360 --> 00:15:04,760
right, what are you really going
to see that fifty, that 70% 

262
00:15:04,760 --> 00:15:06,560
correction to the downside, 
right? 

263
00:15:07,360 --> 00:15:09,760
And again, we're just observers 
here. 

264
00:15:09,920 --> 00:15:13,440
We're on the journey with you 
guys, but this could be 

265
00:15:13,440 --> 00:15:16,080
uncharted territory. 
We are we are already in 

266
00:15:16,120 --> 00:15:18,960
uncharted territory. 
Now, the thing that excites me 

267
00:15:18,960 --> 00:15:21,720
the most and Opti talk to talk 
talked a little bit about this 

268
00:15:21,720 --> 00:15:27,280
earlier is the fact that now you
have these massive banks, right?

269
00:15:27,280 --> 00:15:31,080
You have brokerages like Charles
Schwab, you have JP Morgan, you 

270
00:15:31,080 --> 00:15:33,640
have Morgan Stanley, you have 
Citibank. 

271
00:15:33,880 --> 00:15:37,920
And while all of this bear price
action was happening, they were 

272
00:15:37,920 --> 00:15:41,880
making crazy announcements right
about them. 

273
00:15:41,880 --> 00:15:45,040
Oh, oh, now I can mention this 
and Goldman Sachs, right, one of

274
00:15:45,040 --> 00:15:47,880
the most conservative wealth 
management banks in the world, 

275
00:15:47,880 --> 00:15:49,840
right? 
And they have, they have a lot 

276
00:15:49,840 --> 00:15:53,520
of money under management. 
While this bear market was 

277
00:15:53,520 --> 00:15:57,680
happening, they were building, 
they were releasing Bitcoin 

278
00:15:57,720 --> 00:16:01,920
focus products, right? 
And Morgan Stanley is actually 

279
00:16:01,920 --> 00:16:05,720
going to be, and we had the CEO 
of Bitcoin magazine on, I think 

280
00:16:05,720 --> 00:16:08,800
it was on Wednesday or Thursday,
something like that, Brandon 

281
00:16:08,800 --> 00:16:12,360
Green and he, I remember we were
going through the speaker list 

282
00:16:12,360 --> 00:16:15,160
and he was like, Nico, you 
forgot to mention Amy. 

283
00:16:15,160 --> 00:16:18,160
And Amy is the head of digital 
assets of Morgan Stanley and 

284
00:16:18,160 --> 00:16:20,640
she's going to be making an 
appearance at the Bitcoin 

285
00:16:20,720 --> 00:16:23,320
Bitcoin conference. 
So not only do you have the head

286
00:16:23,320 --> 00:16:27,440
of the SEC, the head of the 
CFTC, which again were some of 

287
00:16:27,440 --> 00:16:31,400
the biggest enemies of Bitcoin 
during the previous cycles, you 

288
00:16:31,400 --> 00:16:34,840
now have the head of digital 
assets from one of the United 

289
00:16:34,840 --> 00:16:38,720
States biggest banks making an 
appearance at the Bitcoin 

290
00:16:38,720 --> 00:16:40,400
conference. 
Do you think she's doing this 

291
00:16:40,400 --> 00:16:43,440
out of goodness of the heart? 
Do you think Morgan Stanley's 

292
00:16:43,440 --> 00:16:44,800
doing it out of the goodness of 
the heart? 

293
00:16:44,800 --> 00:16:46,880
No, absolutely not. 
They're attracted to number go 

294
00:16:46,880 --> 00:16:48,840
up technology. 
They see the writing on the 

295
00:16:48,840 --> 00:16:53,680
wall. 
This is the most successful ETF 

296
00:16:53,680 --> 00:16:56,000
launch in Morgan Stanley's 
history. 

297
00:16:56,160 --> 00:16:58,760
It's very similar to BlackRock, 
right? 

298
00:16:59,000 --> 00:17:02,480
So again, everyone's getting 
kind of pulled into number go up

299
00:17:02,480 --> 00:17:07,520
technology and This is why this 
time could be different. 

300
00:17:07,520 --> 00:17:11,520
But I say that with an asterisk 
because every single time we say

301
00:17:11,520 --> 00:17:15,079
that this time ends up not being
different, right? 

302
00:17:15,240 --> 00:17:19,079
So it could be that again, we're
having, you know, a a, a pump 

303
00:17:19,079 --> 00:17:21,960
before the sell in May and then 
go away. 

304
00:17:22,359 --> 00:17:26,800
It could it could be that could 
be the situation or Bitcoin 

305
00:17:26,800 --> 00:17:31,280
could actually finally break 
this halving cycle theory. 

306
00:17:31,400 --> 00:17:34,800
And if it breaks that halving 
cycle theory at at this point, 

307
00:17:34,840 --> 00:17:37,800
every other theory has been 
broken, right? 

308
00:17:37,960 --> 00:17:42,480
All the top indicators that were
supposed to hit last cycle were 

309
00:17:42,480 --> 00:17:45,360
never hit. 
They were all broken, right? 

310
00:17:45,600 --> 00:17:48,400
I think you could make the case 
that the power law, but again, 

311
00:17:48,400 --> 00:17:51,360
they they, they kind of move 
the, the go post with the power 

312
00:17:51,360 --> 00:17:52,920
law a little bit. 
Yeah, I'm not the biggest fan of

313
00:17:52,920 --> 00:17:53,400
the power. 
Law. 

314
00:17:53,400 --> 00:17:58,280
So like there's really no 
indicator for Bitcoin's price 

315
00:17:58,280 --> 00:18:03,680
action if it breaks. 
I'm going to be convinced if we 

316
00:18:03,680 --> 00:18:06,360
go above $100,000. 
If we go. 

317
00:18:06,360 --> 00:18:11,520
Above $100,000 in the next 
month, I'm going to be like, OK,

318
00:18:11,520 --> 00:18:15,000
I think that there's a, there's 
a good possibility that, you 

319
00:18:15,000 --> 00:18:19,600
know, that 60K was the bottom. 
And I think that we could end 

320
00:18:19,600 --> 00:18:23,560
the year, you know, in, in new 
highs, which again, would be 

321
00:18:23,560 --> 00:18:28,040
completely, completely uncharted
territory. 

322
00:18:28,040 --> 00:18:32,080
This has never happened before. 
But if you pay attention to the 

323
00:18:32,080 --> 00:18:35,120
fundamentals, if you pay 
attention to the parties that 

324
00:18:35,120 --> 00:18:38,800
are getting involved in Bitcoin,
if you pay attention to the fact

325
00:18:38,800 --> 00:18:43,120
that President Trump and his 
entire family have massive 

326
00:18:43,120 --> 00:18:47,040
holdings in this asset, they 
have companies associated to the

327
00:18:47,040 --> 00:18:50,280
asset. 
I mean, dude, like, you know, 

328
00:18:50,440 --> 00:18:54,480
like it, it, it, it wouldn't be 
surprising either. 

329
00:18:54,680 --> 00:18:57,520
So that's the really big 
question that I wanted to I 

330
00:18:57,520 --> 00:19:01,240
want, I want you guys to take 
away from today's show is the 

331
00:19:01,240 --> 00:19:05,120
cycle theory debt is the four 
year cycle theory debt we should

332
00:19:05,120 --> 00:19:07,640
release a pull Optie, why don't 
you do that well? 

333
00:19:07,800 --> 00:19:10,640
Well, before we do that, before 
I do that, I do have to 

334
00:19:10,640 --> 00:19:13,400
acknowledge what the chat is 
acknowledging that you have 

335
00:19:13,400 --> 00:19:17,800
finally Co opted my thesis here.
So hey, it took a while guys, 

336
00:19:17,800 --> 00:19:21,360
but we finally got him around 
and but but I do. 

337
00:19:21,360 --> 00:19:24,680
I do want to mention though, 
even though we're all feeling 

338
00:19:24,680 --> 00:19:26,200
kind of bullish today, we're 
feeling good. 

339
00:19:26,520 --> 00:19:29,320
Obviously we're all kind of 
looking back at our first 

340
00:19:29,320 --> 00:19:32,440
principles right now. 
We do have to remember that this

341
00:19:32,440 --> 00:19:37,400
is very normal when we see kind 
of the end of a bear market if 

342
00:19:37,400 --> 00:19:41,120
that's where we are or it could 
be a bull trap, like we could 

343
00:19:41,160 --> 00:19:44,840
have a little frothy price 
action like Nico said and then 

344
00:19:44,840 --> 00:19:47,080
sell in May and then we pull 
back a little bit. 

345
00:19:47,560 --> 00:19:51,120
That would still, I think be 
very normal and very healthy in 

346
00:19:51,120 --> 00:19:53,520
the, in the market and, and 
we've seen that happen before. 

347
00:19:53,520 --> 00:19:57,440
So before we just get too 
excited celebrating that, oh, 

348
00:19:57,440 --> 00:19:59,720
we're finally back. 
You know, we're going to go to 

349
00:19:59,720 --> 00:20:04,120
100K by end of day. 
I, I think it is very important 

350
00:20:04,120 --> 00:20:08,600
for us to kind of chill out and,
and you know, Zen out a little 

351
00:20:08,600 --> 00:20:11,720
bit because. 
The, it's a very big question 

352
00:20:11,720 --> 00:20:14,400
right now of is this the 
breakout? 

353
00:20:14,440 --> 00:20:17,080
Are we finally breaking out? 
We did break out of that 

354
00:20:17,080 --> 00:20:21,880
downtrend from around October, 
which is very strong movement. 

355
00:20:21,880 --> 00:20:26,000
It's, it's very positive, but 
it's not going to just start 

356
00:20:26,000 --> 00:20:29,000
ripping right now. 
So, you know, I, I think 

357
00:20:29,000 --> 00:20:31,280
everyone's very cautious. 
Me and Nico, we're talking with 

358
00:20:31,280 --> 00:20:33,440
Luke this morning. 
He's he's bullish. 

359
00:20:34,080 --> 00:20:37,280
He's also a little cautious. 
He's all thinking like, at what 

360
00:20:37,280 --> 00:20:40,440
number am I, am I going to get 
very bullish? 

361
00:20:41,600 --> 00:20:44,960
I think he said somewhere around
like 86 K and me and Nico are 

362
00:20:44,960 --> 00:20:48,120
just like, yeah, you know, 
that's probably not the best 

363
00:20:48,120 --> 00:20:50,440
place to be buying if you're 
trying to get back in the 

364
00:20:50,440 --> 00:20:53,160
markets and and get in bulk 
here. 

365
00:20:53,160 --> 00:20:56,680
If you're trying to get back in 
the market in size, it's 

366
00:20:56,680 --> 00:21:00,040
probably not the best idea to go
all in right now. 

367
00:21:01,240 --> 00:21:05,040
Probably the best idea is to DCA
like everyone's been saying and 

368
00:21:05,040 --> 00:21:09,080
we always continue to reiterate,
like I, I wouldn't go all in 

369
00:21:09,080 --> 00:21:11,200
right now because it they, it's 
still very uncertain. 

370
00:21:11,200 --> 00:21:14,160
It could go lower. 
This could be a bull trap or 

371
00:21:14,160 --> 00:21:16,720
dead cat bounce, however you 
want to, however you want to 

372
00:21:16,720 --> 00:21:20,480
frame it, but it is starting to 
feel a little frothy. 

373
00:21:20,480 --> 00:21:23,720
It it is starting to feel a 
little bullish in in here. 

374
00:21:23,720 --> 00:21:27,400
Like if you're watching the 
prices a Bitcoin in a vacuum, 

375
00:21:27,840 --> 00:21:29,960
then you know, you're looking at
that and you're like, OK, this 

376
00:21:29,960 --> 00:21:32,600
is interesting. 
But in the context of all of the

377
00:21:32,600 --> 00:21:35,280
markets right now, I think 
that's probably the biggest 

378
00:21:35,280 --> 00:21:36,840
signal. 
If you're looking at all the 

379
00:21:36,840 --> 00:21:40,720
markets and everything's going 
up, then you'd kind of expect 

380
00:21:40,720 --> 00:21:44,120
that Bitcoin would also very 
healthily move as well. 

381
00:21:44,120 --> 00:21:48,320
So I wouldn't I wouldn't just, 
you know, get super bullish and 

382
00:21:48,320 --> 00:21:51,600
put like the HELOC on your house
and you know, all of those 

383
00:21:51,600 --> 00:21:56,320
things that people start saying 
in a bull run, but it is very, 

384
00:21:56,320 --> 00:22:00,680
very good price movement. 
The the markets feel good. 

385
00:22:00,680 --> 00:22:03,400
Overall. 
It seems like the geopolitical 

386
00:22:03,400 --> 00:22:06,760
mess is finally behind us, at 
least for now. 

387
00:22:07,480 --> 00:22:10,680
So it it's feeling pretty good, 
but just don't get too excited, 

388
00:22:11,200 --> 00:22:12,440
you know, don't get a what's the
saying? 

389
00:22:12,440 --> 00:22:17,200
Don't get a over your skis here,
but now might be a good time to,

390
00:22:17,200 --> 00:22:20,640
if you have been sitting on cash
to get into the market and start

391
00:22:20,640 --> 00:22:24,400
to DCA and and start to, you 
know, get get your position back

392
00:22:24,400 --> 00:22:27,600
'cause it, this could be, it is 
basically what we're saying, you

393
00:22:27,600 --> 00:22:29,680
know, TA for the day. 
It might go up, it might go 

394
00:22:29,680 --> 00:22:31,600
down, I don't know. 
Absolutely. 

395
00:22:31,600 --> 00:22:33,960
And by the way, guys, we started
the show a little bit early 

396
00:22:33,960 --> 00:22:37,600
today because we have a special 
guest who's joining us. 

397
00:22:37,920 --> 00:22:41,360
We have Aiden, who's the CEO of 
Hive Digital Technologies. 

398
00:22:41,360 --> 00:22:46,080
They have a very exciting 
announcement and I'm really 

399
00:22:46,080 --> 00:22:49,760
looking forward to that 
conversation and it's going to 

400
00:22:49,760 --> 00:22:51,880
be fantastic. 
So he's going to be joining us 

401
00:22:51,880 --> 00:22:55,720
in a little bit. 
High Digital announces private 

402
00:22:55,720 --> 00:23:01,200
offering of 75 million of 
exchangeable senior notes due in

403
00:23:01,200 --> 00:23:05,360
2031. 
And actually they raise it up 

404
00:23:05,440 --> 00:23:07,440
now. 
It's not 75 now, it's up. 

405
00:23:07,560 --> 00:23:11,640
Now it's 100 million. 
So really excited to talk about 

406
00:23:11,640 --> 00:23:12,960
that. 
Idan's going to be joining us in

407
00:23:12,960 --> 00:23:16,920
about 15 minutes or so. 
So going back to the 

408
00:23:16,920 --> 00:23:20,320
conversation, Opti, you know, 
this is crazy. 

409
00:23:20,320 --> 00:23:24,240
I mean, is Trump playing 4D 
chess? 

410
00:23:24,360 --> 00:23:27,160
I dude, I don't like to say it 
because like, I don't. 

411
00:23:27,160 --> 00:23:30,760
Like to be a plan truster but 
man I want to pull up like do be

412
00:23:30,760 --> 00:23:31,880
looking. 
Like that, I want to pull up 

413
00:23:31,880 --> 00:23:36,280
Mateo, the CEO of Orange Palap. 
I want to pull up his meme 

414
00:23:36,280 --> 00:23:39,960
because I think it's super 
fitting for this specifically. 

415
00:23:40,880 --> 00:23:45,560
Mateo posted this and I think 
it's, you know, it's hilarious. 

416
00:23:46,320 --> 00:23:48,440
I'm not ready to give up on 
this, man. 

417
00:23:48,440 --> 00:23:51,480
And of course, it's Trump's 
famous picture from the 

418
00:23:51,480 --> 00:23:55,600
assassination attempt before he 
got up and said famously fight, 

419
00:23:55,600 --> 00:24:00,880
fight, fight, fight. 
And I got to say like, I, I was,

420
00:24:00,920 --> 00:24:03,880
you know, I'm going to label 
myself Optia. 

421
00:24:03,880 --> 00:24:05,160
I'm going to do it. 
I'm going to do it for the 

422
00:24:05,160 --> 00:24:06,240
views. 
I'm going to do it for the 

423
00:24:06,240 --> 00:24:07,360
audience. 
I'm going to do it. 

424
00:24:07,520 --> 00:24:09,920
I'm going to do it. 
I was a little bit of a 

425
00:24:09,920 --> 00:24:12,160
panicking bro. 
I was a little bit of a 

426
00:24:12,160 --> 00:24:14,000
panicking. 
I'm the first one to say it, 

427
00:24:14,000 --> 00:24:16,760
man, because I was just like, 
dude, like this is such a 

428
00:24:16,760 --> 00:24:19,440
terrible situation. 
I don't know how he's going to 

429
00:24:19,440 --> 00:24:22,760
get himself out of this. 
Israel's not going to want to 

430
00:24:22,760 --> 00:24:27,960
end the war, you know, because 
they have larger plans in in the

431
00:24:27,960 --> 00:24:29,920
region, which of course you 
can't blame them. 

432
00:24:31,200 --> 00:24:33,640
And of course the United States 
was involved. 

433
00:24:33,640 --> 00:24:36,440
But it seems like the United 
States is seeing this and 

434
00:24:36,440 --> 00:24:39,000
they're saying like, look like 
this is horrible for energy 

435
00:24:39,800 --> 00:24:42,040
markets. 
This is this is horrible for 

436
00:24:42,040 --> 00:24:44,520
energy markets. 
This is horrible for markets in 

437
00:24:44,520 --> 00:24:46,440
general. 
And it kind of force the 

438
00:24:46,440 --> 00:24:52,000
president's hands to make a deal
with Iran like that, that, you 

439
00:24:52,000 --> 00:24:55,640
know, and, and I did not believe
he was going to be able to do 

440
00:24:55,640 --> 00:24:57,720
that. 
I went on record last week and I

441
00:24:57,720 --> 00:24:59,720
said, I don't think he's going 
to be able to do that. 

442
00:24:59,720 --> 00:25:03,280
Like, I don't know what leverage
he has, but it seems like he was

443
00:25:03,280 --> 00:25:07,080
able to pull it off, right? 
And Trump has had this record 

444
00:25:07,080 --> 00:25:11,920
man of overcoming these crazy 
obstacles that he hasn't that 

445
00:25:11,920 --> 00:25:16,440
he's that he hasn't, you know, 
had to live through during his 

446
00:25:16,440 --> 00:25:20,960
political career. 
And, you know, it seems like he 

447
00:25:20,960 --> 00:25:22,840
overcame it. 
And it seems like the markets 

448
00:25:22,840 --> 00:25:24,280
are responding in kind. 
Now. 

449
00:25:24,480 --> 00:25:27,800
The question that I have for you
guys, which is what we saw 

450
00:25:27,800 --> 00:25:32,720
during Trump's first year in 
office is we saw something very 

451
00:25:32,720 --> 00:25:37,360
similar regarding every single 
time the price would pump. 

452
00:25:37,560 --> 00:25:40,960
He would like fat finger on 
Truth Social to talk about all 

453
00:25:40,960 --> 00:25:44,680
these tariffs. 
The price would drop like 50%, 

454
00:25:44,680 --> 00:25:48,120
including the markets, right? 
And now we find ourselves in a 

455
00:25:48,120 --> 00:25:52,440
very similar situation. 
So like, did Trump just bomb 

456
00:25:52,440 --> 00:25:57,360
Iran to destroy Iran's mining 
infrastructure, dump the price 

457
00:25:57,600 --> 00:25:59,680
of everything and just buy the 
dip? 

458
00:26:00,080 --> 00:26:03,760
Like, like, I know that's a 
crazy stretch to say. 

459
00:26:03,760 --> 00:26:07,160
Well, well, it is what Tom 
Luongo has been saying. 

460
00:26:07,160 --> 00:26:10,360
Did Tom Luongo? 
Yeah, well, Tom Luongo has basic

461
00:26:10,560 --> 00:26:14,480
been saying and he got a lot of 
Flack for this as as I've been 

462
00:26:14,480 --> 00:26:18,600
telling you guys, there's kind 
of two different theses playing 

463
00:26:18,600 --> 00:26:20,600
out right now. 
It depends on what side of the 

464
00:26:20,600 --> 00:26:23,520
aisle you are or rather who who 
you're listening to that are 

465
00:26:23,520 --> 00:26:26,920
kind of bit corners that have 
been analyzing the geopolitical 

466
00:26:26,920 --> 00:26:29,960
situation. 
It is like Simon Dixon on one 

467
00:26:29,960 --> 00:26:32,080
side and Tom Luongo on the other
side. 

468
00:26:32,360 --> 00:26:35,880
And they're fundamentals, like 
their first principles are 

469
00:26:36,200 --> 00:26:39,120
pretty similar. 
It's just their conclusions that

470
00:26:39,120 --> 00:26:42,080
are different. 
And Tom Luongo has been 

471
00:26:42,080 --> 00:26:44,840
reiterating the point that he's 
like, yo, this has all been 

472
00:26:44,840 --> 00:26:46,240
planned. 
He has been getting a lot of 

473
00:26:46,240 --> 00:26:50,680
Flack because he is kind of been
a, a, what do you call it, a 

474
00:26:50,680 --> 00:26:54,040
planned truster. 
But from my perspective, at 

475
00:26:54,040 --> 00:26:57,440
least in this current moment, I 
have been signing a lot more 

476
00:26:57,440 --> 00:27:00,160
with Tom Luongo's thesis. 
I do like Simon Dixon. 

477
00:27:00,160 --> 00:27:02,800
We're actually going to do, Nico
did an interview with Simon 

478
00:27:02,800 --> 00:27:05,520
Dixon this week. 
So that's gonna pop out this 

479
00:27:05,520 --> 00:27:08,560
weekend. 
But Simon Dixon has or sorry, 

480
00:27:08,680 --> 00:27:11,960
Tom Luongo has been saying he's 
like, yo, this is all planned. 

481
00:27:12,120 --> 00:27:15,480
This is all to, you know, get 
basically. 

482
00:27:15,560 --> 00:27:17,040
Control away from the City of 
London. 

483
00:27:17,040 --> 00:27:19,120
Exactly. 
And now what? 

484
00:27:19,120 --> 00:27:20,640
What? 
You know, the chat freaked out 

485
00:27:20,640 --> 00:27:23,800
on me the other day when I was 
mentioning, I think it was 

486
00:27:23,800 --> 00:27:27,360
Monday when I was mentioning 
that the most interesting thing 

487
00:27:27,360 --> 00:27:31,360
that happened over the weekend 
was that we saw all of the oil 

488
00:27:31,360 --> 00:27:34,280
tankers leaving the Strait of 
Hormuz and going into the Gulf 

489
00:27:34,280 --> 00:27:36,400
of America or Gulf of Mexico, 
whatever you want to call it. 

490
00:27:36,680 --> 00:27:40,680
And to me, that was the most 
interesting thing that led to me

491
00:27:40,680 --> 00:27:44,400
kind of leaning more towards Tom
Wongo, that this did seem like 

492
00:27:44,400 --> 00:27:46,800
the master plan. 
And I saw this interesting 

493
00:27:46,920 --> 00:27:50,680
Instagram Reel and I, I was 
thinking about playing it for 

494
00:27:50,680 --> 00:27:52,520
you guys on the show. 
I don't know if you saw it, but 

495
00:27:52,720 --> 00:27:55,640
the headline of it was like, 
what if Trump's plan was to 

496
00:27:55,640 --> 00:28:01,160
quote, lose the war in Iran 
because he wanted the skirmish? 

497
00:28:01,320 --> 00:28:05,840
And now as we've seen a result 
of that is the US is now 

498
00:28:05,840 --> 00:28:08,280
basically the biggest oil 
exporter. 

499
00:28:08,280 --> 00:28:11,720
The Petro dollar system is still
in place and probably stronger 

500
00:28:11,720 --> 00:28:13,120
than ever. 
But not only that. 

501
00:28:13,160 --> 00:28:16,040
It's it's very interesting, like
you know the. 

502
00:28:16,920 --> 00:28:20,120
The NASDAQ is reaching all time 
highs, right? 

503
00:28:20,200 --> 00:28:24,240
Like the NASDAQ is reaching. 
All time highs SP500 NASDAQ, Dow

504
00:28:24,320 --> 00:28:27,320
Almost we could. 
Have never have imagined that 

505
00:28:27,880 --> 00:28:32,480
you know, a week ago it was like
inconceivable like it like it 

506
00:28:32,480 --> 00:28:34,400
the game theory didn't make 
sense. 

507
00:28:34,400 --> 00:28:38,480
It seemed like Iran had all the 
cards right like they had this 

508
00:28:39,000 --> 00:28:43,520
warfare asymmetry where it cost 
them so little to produce these 

509
00:28:43,520 --> 00:28:47,720
drones that again could threaten
the the the crossing of ships 

510
00:28:47,920 --> 00:28:51,240
through the Strait of Hormuz and
it just seemed like there was no

511
00:28:51,240 --> 00:28:54,040
card there to play. 
But all of a sudden, the 

512
00:28:54,040 --> 00:28:58,000
straight is open now. 
Markets are at all time highs, 

513
00:28:58,240 --> 00:29:00,560
right? 
And again, you know, Iran's 

514
00:29:00,560 --> 00:29:02,840
leadership has been taken out, 
right? 

515
00:29:03,280 --> 00:29:09,040
So, you know, from, like, did 
the United States lose the war 

516
00:29:09,040 --> 00:29:12,360
in that regard? 
It's like they definitely damage

517
00:29:12,360 --> 00:29:14,600
Iran's infrastructure. 
Well, maybe it's a lost the 

518
00:29:14,600 --> 00:29:18,440
battle but won the war. 
Iran, Iran's hash rate dropped 

519
00:29:18,440 --> 00:29:22,880
by like, I don't know. 77%. 
Hash rate dropped by 77%. 

520
00:29:23,600 --> 00:29:25,640
The stock market's making all 
time highs. 

521
00:29:25,680 --> 00:29:28,760
I'm sure oil gas prices are 
going to start going down. 

522
00:29:29,080 --> 00:29:32,400
So again, Nico's been watching 
too much Glenn Beck. 

523
00:29:32,960 --> 00:29:35,880
Dude, I'm I'm just observing 
here. 

524
00:29:36,000 --> 00:29:38,360
I'm just wait wait wait. 
I let before you go. 

525
00:29:38,360 --> 00:29:41,480
I I do have to agree with the 
chat bro. 

526
00:29:42,880 --> 00:29:44,480
You think you still you think 
this wasn't planned. 

527
00:29:44,760 --> 00:29:48,160
Well, no, no, I I have to agree 
with the chat and with you that 

528
00:29:48,160 --> 00:29:49,800
you you were, I didn't. 
Even know what the chat. 

529
00:29:50,000 --> 00:29:52,760
Is saying, you said basically 
that you were a little bit of a 

530
00:29:52,760 --> 00:29:57,040
panican and the chat was losing 
it on you when you were going, 

531
00:29:57,040 --> 00:29:59,000
when you were doing your 
politics stuff? 

532
00:29:59,680 --> 00:30:03,280
Because they're like Nico's been
watching way too much mainstream

533
00:30:03,280 --> 00:30:06,120
media coverage. 
I don't watch mainstream media 

534
00:30:06,120 --> 00:30:10,400
but the panic and meme makes it 
to it makes it on X. 

535
00:30:10,400 --> 00:30:12,440
Like you hear the panic and 
memes right? 

536
00:30:12,440 --> 00:30:14,840
Like that's, that's the whole, 
you know, like that's the whole 

537
00:30:14,840 --> 00:30:17,640
defense by the, the, you know, 
by the White House. 

538
00:30:17,640 --> 00:30:20,200
It's like don't be a panicking, 
don't be a panicking. 

539
00:30:20,480 --> 00:30:22,960
At this point. 
It's like, you know, the Strait 

540
00:30:22,960 --> 00:30:25,720
of Hormuz is open. 
It seems like the war is 

541
00:30:25,720 --> 00:30:27,720
essentially done Iranian. 
Leadership. 

542
00:30:28,320 --> 00:30:30,840
It's a ceasefire. 
It's another 10 day ceasefire, 

543
00:30:30,840 --> 00:30:33,000
at least for now. 
Yeah, but we we've seen Trump 

544
00:30:33,000 --> 00:30:36,000
play this card before. 
He does it with the tariffs. 

545
00:30:36,040 --> 00:30:39,840
It's like, oh, we're going to 
stop the 5050% tariffs for 10 

546
00:30:39,840 --> 00:30:42,640
days, right? 
So it seems like he's like, you 

547
00:30:42,640 --> 00:30:45,680
know, pulling these strings that
we're just not aware of, like. 

548
00:30:45,840 --> 00:30:47,800
Even wait, the real test is 
gonna be tonight. 

549
00:30:47,840 --> 00:30:50,040
I'm sure there's gonna be a 
tweet and it's gonna be the 

550
00:30:50,040 --> 00:30:53,040
complete opposite about what? 
You know, like totally. 

551
00:30:53,040 --> 00:30:55,760
Oh wait, they didn't close it. 
We're going to go in again. 

552
00:30:55,760 --> 00:30:57,760
Who knows? 
That's gonna be the interesting 

553
00:30:57,760 --> 00:31:02,880
part is watching tonight and 
seeing if there's a complete 180

554
00:31:02,880 --> 00:31:05,360
on. 
The ceasefire in the Strait of 

555
00:31:05,360 --> 00:31:08,520
Hormuz being opened. 
But right now, like right now, 

556
00:31:08,520 --> 00:31:13,400
it just seems like it seems like
it seems like the trust the plan

557
00:31:13,400 --> 00:31:15,360
people. 
Kind of, right? 

558
00:31:15,760 --> 00:31:17,600
Are are are getting a right? 
Wait before we go. 

559
00:31:17,600 --> 00:31:19,960
It's one of those things of I 
saw a good meme. 

560
00:31:20,080 --> 00:31:24,000
I mean bro like even the the the
guy who can't be named very 

561
00:31:24,000 --> 00:31:28,320
popular rumble live streamer 
like he got it wrong. 

562
00:31:30,640 --> 00:31:35,600
He got it wrong but but I I saw 
this tweet. 

563
00:31:35,600 --> 00:31:40,920
No, but he did get it wrong. 
Yeah, well, it hasn't resolved 

564
00:31:40,920 --> 00:31:41,760
yet. 
We haven't. 

565
00:31:41,760 --> 00:31:46,520
I mean that we let's let's not 
be too quick to say this is over

566
00:31:46,800 --> 00:31:50,280
yet, but it does seem like this 
at at least according to the 

567
00:31:50,280 --> 00:31:53,560
president, that the Strait of 
Hormuz is going to maintain 

568
00:31:53,560 --> 00:31:56,240
being open. 
And but it is interesting when 

569
00:31:56,240 --> 00:31:57,880
you think about it. 
But but it's hold on. 

570
00:31:58,000 --> 00:31:59,800
It's not just him saying that 
dude. 

571
00:31:59,800 --> 00:32:03,760
Well, one thing is him saying 
that, but like the ultimate 

572
00:32:03,760 --> 00:32:07,840
source of truth are markets. 
Yeah, it's not just him saying 

573
00:32:07,840 --> 00:32:10,680
that markets actually believe. 
Yeah. 

574
00:32:10,680 --> 00:32:12,640
And well, but that that that 
that actually I. 

575
00:32:12,760 --> 00:32:15,960
Agree. 
But the interesting part is, you

576
00:32:15,960 --> 00:32:21,880
know, we did the war in Iran 
allegedly over, you know, 

577
00:32:21,880 --> 00:32:25,120
nuclear power. 
The Strait of Hormuz was open 

578
00:32:25,120 --> 00:32:28,720
before the war. 
And then we literally just got 

579
00:32:28,720 --> 00:32:31,960
back to what we had before the 
war to get the Strait of Hormuz 

580
00:32:31,960 --> 00:32:32,760
open. 
So I don't I. 

581
00:32:33,040 --> 00:32:35,840
Don't think so, because like 
think about the what they've 

582
00:32:35,840 --> 00:32:38,560
achieved, right? 
They they really hurt Iran's 

583
00:32:38,560 --> 00:32:40,680
infrastructure. 
They took out the leadership 

584
00:32:40,720 --> 00:32:43,920
right, which is one of part of 
the goal. 

585
00:32:45,680 --> 00:32:47,920
The stock market is making all 
time highs. 

586
00:32:48,480 --> 00:32:53,480
Oil dropped 30%. 
Iran's hash rate fell by 77%. 

587
00:32:53,680 --> 00:32:57,640
Like brother, like. 
Brother like my brother. 

588
00:32:58,160 --> 00:33:03,920
Like, dude, you know, like, like
maybe the stated objectives were

589
00:33:03,920 --> 00:33:06,000
never really the stated 
objectives. 

590
00:33:06,000 --> 00:33:09,600
I'm judging the tree by its 
fruit. 

591
00:33:09,600 --> 00:33:13,560
I'm judging the outcome, and the
outcome actually looks very 

592
00:33:13,560 --> 00:33:17,920
favorable to the United States. 
Well it is funny that you went 

593
00:33:17,920 --> 00:33:19,760
full panic and now you're going 
full plan. 

594
00:33:19,760 --> 00:33:23,160
Truster, I'm not saying that I'm
just observing things. 

595
00:33:23,160 --> 00:33:26,320
I'm seeing things, bro that like
are obvious to me. 

596
00:33:26,320 --> 00:33:29,240
That's my opinion. 
That's just like my take on all 

597
00:33:29,240 --> 00:33:32,440
this, right? 
So I don't know, man. 

598
00:33:32,440 --> 00:33:38,080
But anyways, we're going to have
Aidan Killick, CEO of Hive 

599
00:33:38,080 --> 00:33:41,480
Digital Technologies, joining us
in about a couple minutes, so. 

600
00:33:41,720 --> 00:33:43,520
Let's just let's hit the 
transition. 

601
00:33:43,520 --> 00:33:45,000
We'll we'll cover the numbers. 
Let's do it. 

602
00:33:45,000 --> 00:33:45,880
Yeah, Yeah. 
Here we go. 

603
00:33:45,920 --> 00:33:47,640
We'll be back in just a SEC 
guys. 

604
00:33:50,200 --> 00:33:53,480
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All right everybody, we are 

641
00:36:00,880 --> 00:36:02,360
back. 
At the time of recording, the 

642
00:36:02,360 --> 00:36:08,640
Bitcoin price is $78,080. 
SAT's per dollar 1281 block 

643
00:36:08,640 --> 00:36:17,560
height 945,498 Realized monetary
inflation .83% Market cap 1.56 

644
00:36:17,560 --> 00:36:22,480
trillion Bitcoin versus gold 
market cap 5.21% Percentage 

645
00:36:22,480 --> 00:36:28,960
issued 95.31% decline from all 
time high -38.1%. 

646
00:36:28,960 --> 00:36:31,600
So we're still quite a bit from 
the top, man. 

647
00:36:33,360 --> 00:36:36,960
If you're buying Bitcoin right 
now, you're getting a a 38% 

648
00:36:36,960 --> 00:36:39,720
discount. 
So that's a pretty, it's a 

649
00:36:39,720 --> 00:36:42,160
pretty, it's a pretty big 
discount if you're if you're 

650
00:36:42,160 --> 00:36:44,320
buying Bitcoin right now and 
you're thinking long term, of 

651
00:36:44,320 --> 00:36:48,920
course. 
But anyways, I do want to play 

652
00:36:48,920 --> 00:36:51,600
this clip. 
I found it quite interesting. 

653
00:36:51,600 --> 00:36:55,640
It was in reference to Charles 
Schwab. 

654
00:36:55,640 --> 00:36:59,400
So Charles Schwab CEO says the 
platform has already rolled out 

655
00:36:59,400 --> 00:37:03,000
Bitcoin trading in internally 
with employees actively trading.

656
00:37:03,600 --> 00:37:07,360
Customer access is set to launch
in the coming weeks. 

657
00:37:07,360 --> 00:37:09,720
Bitcoin is going mainstream. 
Let's check it out. 

658
00:37:09,880 --> 00:37:14,000
Again, all of this is happening 
during supposed bear market 

659
00:37:14,000 --> 00:37:15,080
action. 
Let's check it out. 

660
00:37:16,240 --> 00:37:18,720
Got it. 
Well, we rolled it out to 

661
00:37:18,720 --> 00:37:21,640
employees to test it and pilot 
and our employees are loving the

662
00:37:21,640 --> 00:37:25,800
experience and actively trading 
on our on schwab.com today with 

663
00:37:25,800 --> 00:37:27,960
with crypto and we'll launch it 
out. 

664
00:37:28,040 --> 00:37:29,960
We'll launch it to clients in 
the coming weeks. 

665
00:37:29,960 --> 00:37:31,600
Couldn't be more excited about 
that. 

666
00:37:31,880 --> 00:37:35,600
In terms of the target client, I
think it's existing clients at 

667
00:37:35,600 --> 00:37:38,400
Schwab that want to hold crypto.
They're already active in crypto

668
00:37:38,400 --> 00:37:41,760
through exchange traded products
today and they want to hold spot

669
00:37:41,760 --> 00:37:44,280
crypto. 
We also are excited about the 

670
00:37:44,280 --> 00:37:47,560
fact that many of our clients 
have built crypto positions 

671
00:37:47,560 --> 00:37:51,080
outside the firm and they've 
been asking to be able to hold 

672
00:37:51,080 --> 00:37:54,320
it at Schwab, at the institution
they trust and the institution 

673
00:37:54,320 --> 00:37:56,040
where they keep the rest of 
their assets. 

674
00:37:56,040 --> 00:37:59,040
And so to have their financial 
life in one place is attractive 

675
00:37:59,040 --> 00:38:01,320
to them and we can't wait to 
make that happen when we open it

676
00:38:01,320 --> 00:38:04,880
to them in the coming weeks. 
I also wanted to follow up on 

677
00:38:04,880 --> 00:38:06,840
the teen accounts that that 
you're doing. 

678
00:38:06,840 --> 00:38:09,440
I mean, clearly there's, there's
demand that you're saying you 

679
00:38:09,440 --> 00:38:12,560
want to lock in younger, younger
investors. 

680
00:38:13,080 --> 00:38:16,880
You know, yet last week Bank of 
New York Mellon and and Robin 

681
00:38:16,880 --> 00:38:18,680
Hood announced that they were 
participating in the Trump 

682
00:38:18,680 --> 00:38:20,280
accounts. 
And I wonder if you see this as,

683
00:38:20,360 --> 00:38:26,080
as competitive now, this, this 
play to lock in kids early and, 

684
00:38:26,160 --> 00:38:30,040
and take that kind of share. 
Our, our mission is to make 

685
00:38:30,040 --> 00:38:32,280
clients better off in their 
financial life. 

686
00:38:32,280 --> 00:38:36,400
And one of the most powerful 
ways to do that is to get people

687
00:38:36,400 --> 00:38:39,800
saving and investing early on in
their life because they get to 

688
00:38:39,800 --> 00:38:45,200
see the power of compounding. 
We're huge, huge backers of the 

689
00:38:45,200 --> 00:38:47,320
Trump accounts. 
I think that was a great move. 

690
00:38:47,600 --> 00:38:52,040
There's so many people in our 
country who don't get it engaged

691
00:38:52,040 --> 00:38:55,080
in saving and investing and to 
be able to offer them at birth 

692
00:38:55,080 --> 00:38:57,720
so they see the power of what 
compounding can do to your 

693
00:38:57,720 --> 00:39:00,760
wealth and to your life, I think
is an incredible move. 

694
00:39:01,040 --> 00:39:03,760
The team accounts will extend 
upon that and, and, and we're 

695
00:39:03,760 --> 00:39:05,800
thrilled about that. 
We're thrilled to support the 

696
00:39:05,800 --> 00:39:08,680
Trump accounts as well. 
We're going to match the 

697
00:39:08,680 --> 00:39:10,760
Treasury's contribution to our 
employees. 

698
00:39:11,000 --> 00:39:13,560
We're excited about both 
programs and really want to do 

699
00:39:13,560 --> 00:39:16,640
everything we can to help the 
young investor in our country 

700
00:39:16,640 --> 00:39:20,600
thrive, to recognize the power 
of saving and investing and to 

701
00:39:20,600 --> 00:39:22,720
be able to differentiate that 
from some of the messages they 

702
00:39:22,720 --> 00:39:25,960
get on other platforms about 
gambling and and things along 

703
00:39:25,960 --> 00:39:31,640
those lines. 
So I mean, dude, that's pretty 

704
00:39:31,640 --> 00:39:39,960
crazy in regards to the like it 
is a massive I mean this is this

705
00:39:39,960 --> 00:39:43,960
is full circle Opti for anyone 
that doesn't know the Opti lore 

706
00:39:45,160 --> 00:39:48,600
Opti originally when we first 
got into the market back in the 

707
00:39:48,600 --> 00:39:52,840
20/16/2017 era it. 
Was before I even knew about 

708
00:39:52,840 --> 00:39:56,520
really about Bitcoin. 
Opti tried to open an account 

709
00:39:56,520 --> 00:40:01,760
with Schwab and they they. 
Said get out of here, you're 

710
00:40:01,760 --> 00:40:03,400
broke. 
You can't open an. 

711
00:40:03,400 --> 00:40:07,160
Account they denied him and OPT 
which is a good thing. 

712
00:40:07,160 --> 00:40:09,560
It was a blessing in disguise 1.
100% I wouldn't have found 

713
00:40:09,560 --> 00:40:10,720
Bitcoin. 
Because then you got into 

714
00:40:10,720 --> 00:40:14,960
Bitcoin, right? 
But it's, it's a, it's a full 

715
00:40:14,960 --> 00:40:16,240
circle for you. 
Opti. 

716
00:40:16,240 --> 00:40:19,200
I want to get your thoughts. 
Yeah, because they're, dude, 

717
00:40:19,200 --> 00:40:21,560
they're going out there and 
they're saying, listen, we're 

718
00:40:21,560 --> 00:40:24,200
rolling out Bitcoin trading for 
our clients. 

719
00:40:24,200 --> 00:40:26,760
We're rolling this out. 
It's already live for our 

720
00:40:26,760 --> 00:40:28,920
employees. 
We're rolling this out for a 

721
00:40:28,920 --> 00:40:31,080
retail client. 
And for anyone who doesn't know,

722
00:40:31,080 --> 00:40:35,800
Schwab is one of the largest 
brokerage platforms, you know, 

723
00:40:35,800 --> 00:40:39,040
in the United States, like they 
have, you know, a a ton. 

724
00:40:39,160 --> 00:40:42,280
They have a great reputation. 
That's a lot of high net worth 

725
00:40:42,280 --> 00:40:45,840
individuals use this platform. 
And the fact that again, you 

726
00:40:45,840 --> 00:40:49,040
have Morgan Stanley launching a 
Bitcoin ETF, you have Citibank 

727
00:40:49,360 --> 00:40:52,840
basically making the case that 
we're ready to Charles Schwab 

728
00:40:52,840 --> 00:40:57,640
Orange Polopti that that comment
that's the top comment of 

729
00:40:57,640 --> 00:41:01,840
today's show. 
I mean, bro, that that 

730
00:41:02,040 --> 00:41:05,680
definitely means a lot like it 
it it definitely, you know, this

731
00:41:05,680 --> 00:41:06,960
is full circle for you. 
How do you? 

732
00:41:06,960 --> 00:41:12,240
Feel I was right and you know, F
Charles Schwab, but also thank 

733
00:41:12,240 --> 00:41:15,640
you so much that I was too broke
to open an account because I 

734
00:41:15,640 --> 00:41:19,160
wouldn't have found Bitcoin. 
Now part of that story is if, if

735
00:41:19,160 --> 00:41:22,360
you haven't heard the story, 
it's basically in 2016. 

736
00:41:22,360 --> 00:41:24,840
I asked my friend and there's 
actually 2 points here that are 

737
00:41:24,840 --> 00:41:30,320
popping to mind now when I think
about this in 2016, I realized 

738
00:41:30,320 --> 00:41:33,080
like I was broke. 
I was, I was not only just 

739
00:41:33,080 --> 00:41:36,320
financially broke, but I was 
mentally in a bad place. 

740
00:41:36,320 --> 00:41:40,440
It was like my lowest point 
basically at 2016 and I asked 

741
00:41:40,440 --> 00:41:45,240
one of my friends who I knew his
dad kind of taught him how to, 

742
00:41:45,240 --> 00:41:47,200
how to trade. 
And so I literally asked him and

743
00:41:47,200 --> 00:41:48,640
there's actually funny parts of 
the story. 

744
00:41:48,640 --> 00:41:52,120
I, I asked him, yo, hey, can you
teach me about trading? 

745
00:41:52,800 --> 00:41:54,920
And he was like, yeah, bro, like
come over. 

746
00:41:54,920 --> 00:41:56,560
I'm like, cool, I'll buy, I'll 
buy you lunch. 

747
00:41:57,760 --> 00:42:01,560
And he basically went like this.
He's like, look, all you got to 

748
00:42:01,560 --> 00:42:06,080
do is basically open a Charles 
Schwab account and watch my boy 

749
00:42:06,600 --> 00:42:09,680
Jim Cramer on hard money. 
And now I always laugh about 

750
00:42:09,680 --> 00:42:12,080
this because in Bitcoin we 
always look at Jim Cramer. 

751
00:42:12,080 --> 00:42:14,160
It's like inverse Kramer works 
every single time. 

752
00:42:14,160 --> 00:42:18,040
He he's literally selling exit 
liquidity as good buys. 

753
00:42:18,480 --> 00:42:20,280
And so I always laugh about that
point. 

754
00:42:20,760 --> 00:42:24,120
But while I'm talking about 
this, it is interesting what 

755
00:42:24,120 --> 00:42:27,120
Nico's been saying, Like Charles
Schwab is one of the biggest 

756
00:42:27,680 --> 00:42:30,120
trading houses. 
Like when you think of trading, 

757
00:42:30,120 --> 00:42:32,920
most people probably think or 
have a Charles Schwab account 

758
00:42:32,920 --> 00:42:34,880
and it's like, just go to 
Charles Schwab, they'll take 

759
00:42:34,880 --> 00:42:37,920
care of you. 
And essentially the short of the

760
00:42:37,920 --> 00:42:39,440
story is I went to Charles 
Schwab. 

761
00:42:39,440 --> 00:42:42,440
I literally had to go to a 
physical location and I had 

762
00:42:42,440 --> 00:42:45,840
$250. 
And I'm like, I want to invest 

763
00:42:45,840 --> 00:42:48,000
this money. 
This was before Robin Hood. 

764
00:42:49,160 --> 00:42:52,200
And they basically said, oh, 
that's cute, you need $2500 to 

765
00:42:52,200 --> 00:42:54,240
even open an account. 
And I was like, oh, thanks, 

766
00:42:54,240 --> 00:42:55,720
dude. 
Just humble, you know, tail 

767
00:42:55,720 --> 00:42:57,520
between my legs. 
Walked out and was like, I'm too

768
00:42:57,520 --> 00:42:59,800
poor to even open an account at 
Charles Schwab. 

769
00:42:59,800 --> 00:43:03,160
Like, there is no hope for me. 
I'm never going to escape the 

770
00:43:03,160 --> 00:43:04,480
matrix. 
I'm cooked. 

771
00:43:04,640 --> 00:43:07,680
It's over. 
Like, I just, I better just be 

772
00:43:07,680 --> 00:43:09,880
happy with being a peasant for 
the rest of my life because I 

773
00:43:09,880 --> 00:43:13,680
can't open an account. 
And then shortly after, while I 

774
00:43:13,680 --> 00:43:15,960
still was kind of percolating on
this idea. 

775
00:43:15,960 --> 00:43:19,360
Is this Opti vindication? 
100% no. 

776
00:43:19,360 --> 00:43:22,320
My other question is, do you 
think they're still going to 

777
00:43:22,320 --> 00:43:27,480
have $2500 limits to buy Bitcoin
'cause if that is the case, 

778
00:43:27,800 --> 00:43:30,240
there's better places to buy 
Bitcoin 'cause you can actually 

779
00:43:30,240 --> 00:43:32,480
buy $250 a Bitcoin? 
Yeah. 

780
00:43:32,480 --> 00:43:34,160
I mean, I don't know. 
That's a good question. 

781
00:43:34,160 --> 00:43:36,440
I mean, what is the minimum? 
I got to look that up in the 

782
00:43:36,440 --> 00:43:38,120
background. 
I don't think, I don't think 

783
00:43:38,120 --> 00:43:40,800
it's, it's probably not out yet,
but another point actually. 

784
00:43:41,040 --> 00:43:45,720
Oh, by the way, we got the one 
and only Idan Killick joining 

785
00:43:45,720 --> 00:43:49,320
us. 
And here we go, ladies and 

786
00:43:49,320 --> 00:43:54,040
gentlemen, Aidan Killick, he is 
the CEO of Hive Digital 

787
00:43:54,040 --> 00:43:56,320
Technologies. 
He's going to be joining the 

788
00:43:56,320 --> 00:44:00,360
show in just one second. 
I'm going to pull Aidan up on 

789
00:44:00,360 --> 00:44:03,440
screen. 
Aidan, thank you so much for 

790
00:44:03,440 --> 00:44:04,120
joining us. 
Hey. 

791
00:44:05,800 --> 00:44:09,360
Good to be here, thanks for 
making the time. 

792
00:44:09,880 --> 00:44:13,720
Absolutely, absolutely. 
I love it. 

793
00:44:13,760 --> 00:44:14,880
I love it. 
I didn't. 

794
00:44:14,960 --> 00:44:16,720
We got thousands of people 
watching. 

795
00:44:16,720 --> 00:44:21,320
Welcome to the show. 
Massive, massive, massive 

796
00:44:21,320 --> 00:44:23,560
announcement for Hive. 
I'm going to pull it up. 

797
00:44:23,960 --> 00:44:26,360
I'm going to pull it up up on 
screen. 

798
00:44:26,600 --> 00:44:30,040
Big announcement. 
I didn't, I, I I'm going to pull

799
00:44:30,040 --> 00:44:35,160
up the initial press release, 
but it seems like the number was

800
00:44:35,160 --> 00:44:37,600
increased, so I'm gonna read it 
off screen. 

801
00:44:37,600 --> 00:44:42,640
Hive Digital announces private 
offering of 75 million of 

802
00:44:42,640 --> 00:44:46,320
exchangeable senior notes due in
2031. 

803
00:44:46,480 --> 00:44:51,720
That number is not 75,000,000 
anymore, it's 100 million. 

804
00:44:52,200 --> 00:44:58,280
Let me hit the Aiden. 
This is a big deal. 

805
00:44:58,280 --> 00:45:01,520
Congratulations. 
First of all, could you walk us 

806
00:45:01,520 --> 00:45:03,600
through this? 
Yeah. 

807
00:45:03,600 --> 00:45:08,280
So Nico, we were incredibly 
happy with the outcome. 

808
00:45:08,920 --> 00:45:14,440
You know, I think it's a 
reflection of the support that 

809
00:45:14,480 --> 00:45:20,600
the investor base sees because 
when you, when you get 0 coupon,

810
00:45:21,520 --> 00:45:25,760
this is a, this is a 
exchangeable note that there, 

811
00:45:25,760 --> 00:45:28,960
there's, there's no interest in,
and really the upside is in the 

812
00:45:28,960 --> 00:45:33,200
conversion premium. 
Fundamentally, these are, you 

813
00:45:33,200 --> 00:45:36,280
know, a, a new type of security.
So it also gives more liquidity 

814
00:45:37,040 --> 00:45:40,160
and exposure to a different 
class of investors that invest 

815
00:45:40,160 --> 00:45:43,640
in convertible bonds. 
So we're really, really pleased 

816
00:45:43,640 --> 00:45:46,680
with the outcome. 
There was, of course, I can't 

817
00:45:46,680 --> 00:45:51,160
speak to the exact figures yet, 
but clearly the fact that it was

818
00:45:51,160 --> 00:45:55,160
upsized from 75,000,000 to $100 
million shows that there was 

819
00:45:55,800 --> 00:45:59,240
incredibly strong demand. 
And really it's it's a catalyst 

820
00:45:59,240 --> 00:46:03,200
for us to accelerate all our 
initiatives that we have going 

821
00:46:03,200 --> 00:46:07,640
this year for the business. 
And we've presented, I was at 

822
00:46:07,640 --> 00:46:11,760
the Roth conference, I was at 
the Cantor conference, I've done

823
00:46:11,760 --> 00:46:14,400
a virtual with Joe Vaffe at 
Canaccord. 

824
00:46:14,960 --> 00:46:19,880
So the update and story on Hive 
is, you know, we really, we 

825
00:46:19,880 --> 00:46:25,560
ended 2025 with 20 million ARR 
on the HPC business and the 

826
00:46:25,560 --> 00:46:29,840
targets to 10X that to 200 
million by the end of 2026. 

827
00:46:29,880 --> 00:46:34,600
And so the same way that we 
scaled from 6 to 25 exit hash in

828
00:46:34,600 --> 00:46:38,640
2025 is the same way that we're 
going to scale from 20 to 200 

829
00:46:38,640 --> 00:46:41,160
million in 2026 on the HPC 
business. 

830
00:46:41,160 --> 00:46:43,000
And you know, we're builders, 
right? 

831
00:46:43,000 --> 00:46:45,880
We, we, we will land bank, we 
build substations. 

832
00:46:45,880 --> 00:46:47,800
It's, it's heavy industrial high
voltage. 

833
00:46:48,320 --> 00:46:52,520
I put out a photo on Twitter. 
I don't know if you guys could 

834
00:46:52,520 --> 00:46:55,720
put my handle up there. 
I, I think it's just I can kill 

835
00:46:55,720 --> 00:46:59,400
like a high digital tech, 
something like that. 

836
00:46:59,400 --> 00:47:03,520
And it was a photo of, of the 
civil work being done for the 

837
00:47:03,520 --> 00:47:07,160
100 MW expansion in Yowazoo. 
And you know, you're, you're 

838
00:47:07,160 --> 00:47:09,320
seeing them trench. 
They're pouring concrete pads. 

839
00:47:09,320 --> 00:47:13,280
Because when, when we talk 100 
MW substation, what that really 

840
00:47:13,280 --> 00:47:19,440
is is it's 280 MVA Transformers.
These things are massive. 

841
00:47:19,440 --> 00:47:23,080
They, they are transported on 
ocean freighter. 

842
00:47:23,520 --> 00:47:25,640
These are going to arrive in 
June and they'll be commissioned

843
00:47:25,640 --> 00:47:27,840
over the summer. 
And and then you're doing site 

844
00:47:27,840 --> 00:47:32,440
clearing and you know, we've 
bought massive tracts of land by

845
00:47:32,440 --> 00:47:37,600
the substation in Paraguay. 
So we have expanded to over 50 

846
00:47:37,600 --> 00:47:40,360
hectares. 
So that's really exciting. 

847
00:47:40,680 --> 00:47:45,800
And coming out of the NVIDIA GTC
conference, what was remarkable 

848
00:47:45,800 --> 00:47:47,720
we've we've been going out for 
the last few years. 

849
00:47:47,720 --> 00:47:51,200
I think it's well known that we 
are an NVIDIA cloud partner. 

850
00:47:51,240 --> 00:47:57,240
We've been running cloud GPUGPUS
on our cloud really since the 

851
00:47:57,240 --> 00:47:59,200
beginning of 2023, post ETH 
merge. 

852
00:47:59,240 --> 00:48:02,640
And for those that are new to 
the Hive story, we used to be 

853
00:48:02,640 --> 00:48:04,280
one of the world's largest 
Ethereum miners. 

854
00:48:04,280 --> 00:48:08,880
We had 130,000 GPUs at the peak.
We represented 6% of the global 

855
00:48:08,880 --> 00:48:13,040
hash rate for Ethereum and that 
was a phenomenal business. 

856
00:48:13,040 --> 00:48:16,440
You know, in the best of times 
it was 95% profit margin. 

857
00:48:17,120 --> 00:48:19,280
I think the on a dollar per kWh 
basis. 

858
00:48:19,280 --> 00:48:20,960
You know, I'm an electrical 
engineer, so I'm always going to

859
00:48:20,960 --> 00:48:24,440
bring it back to the physics and
the fundamentals because Hive is

860
00:48:24,480 --> 00:48:26,480
always orchestrated to compute 
whether it was a theory of 

861
00:48:26,480 --> 00:48:29,720
mining Bitcoin, mining GPU as a 
service. 

862
00:48:30,920 --> 00:48:33,600
The common denominator is what 
is your dollar per kWh and then 

863
00:48:33,600 --> 00:48:38,000
from that, what is your ROI? 
And you get your power bills in 

864
00:48:38,000 --> 00:48:40,280
dollar per kWh or dollar per MW 
hour. 

865
00:48:40,280 --> 00:48:42,960
So it's just so important to 
understand what is your cost 

866
00:48:42,960 --> 00:48:47,960
base and what is your top line 
and as those as either fluctuate

867
00:48:48,200 --> 00:48:52,160
power contract or depending on 
the you know, variable nature of

868
00:48:52,160 --> 00:48:55,080
your top line. 
Obviously Bitcoin mining, any 

869
00:48:55,080 --> 00:48:58,840
crypto mining is going to have a
highly fluctuating top line 

870
00:48:59,360 --> 00:49:03,000
representing dollars per kWh. 
And so fundamentally 

871
00:49:03,000 --> 00:49:08,320
understanding that etherium 
mining was like $0.90 a kWh and 

872
00:49:08,320 --> 00:49:14,360
the bull markets and you know, 
maybe still 40 to $0.50 a kWh in

873
00:49:14,440 --> 00:49:18,280
in bear market. 
So GPUs, even for Ethereum 

874
00:49:18,280 --> 00:49:21,360
mining, we're three to four 
times more CapEx intensive, but 

875
00:49:21,520 --> 00:49:24,440
the profit density was so much 
higher per per Watt. 

876
00:49:25,040 --> 00:49:27,520
And so that's why in 30 
megawatts in Sweden, we had 

877
00:49:27,520 --> 00:49:33,600
130,000 GPUs, AMD and NVIDIA. 
And leading into the ETH merge, 

878
00:49:33,600 --> 00:49:39,080
we had announced in 2021 July 
that we bought 38,000 NVIDIA A 

879
00:49:39,080 --> 00:49:40,920
series cards. 
I'm just going to center some. 

880
00:49:41,480 --> 00:49:44,120
How's the lighting? 
Maybe that's better. 

881
00:49:44,920 --> 00:49:49,600
And I'm just in sunny San 
Antonio, just where where Frank 

882
00:49:49,600 --> 00:49:52,000
is of course going to be meeting
him for dinner tonight. 

883
00:49:52,000 --> 00:49:53,720
So we're we're really excited 
about the deal. 

884
00:49:53,720 --> 00:49:56,400
We'll circle back on the deal 
shortly, but just to give a 

885
00:49:56,400 --> 00:49:58,920
refresher to everyone that's 
tuned in. 

886
00:49:59,760 --> 00:50:04,320
So we had 38,000 NVIDIA GPS, the
A Series A 40s, a six thousands,

887
00:50:04,960 --> 00:50:10,760
and they were mining ETH and so 
they were doing great. 

888
00:50:11,080 --> 00:50:16,160
Now, when the merge hit, we took
400 of those GPUs and we put 

889
00:50:16,160 --> 00:50:19,760
them in super micro servers and 
we transplanted them into Tier 3

890
00:50:19,920 --> 00:50:25,120
data center and we hit 
$1,000,000 ARR for 400 GPUs. 

891
00:50:25,200 --> 00:50:27,480
And we're over a dollar per kWh.
Now. 

892
00:50:28,520 --> 00:50:32,600
In some cases we're getting 
almost $2.00 a kWh, which blew 

893
00:50:32,600 --> 00:50:34,720
crypto mining out of the water 
when you look at that. 

894
00:50:34,720 --> 00:50:38,640
And of course, yeah, your base 
operating costs are higher, but 

895
00:50:38,640 --> 00:50:45,320
your gross operating margin is 
A, more stable and B, higher as 

896
00:50:45,320 --> 00:50:48,480
a result of of the very high 
profit density from GPU as a 

897
00:50:48,480 --> 00:50:50,600
service. 
And so of course, we scaled out,

898
00:50:50,600 --> 00:50:55,840
we got 4000 GPUs going, grew 
that to 10 million ARR on the 

899
00:50:55,840 --> 00:51:00,000
GPU cloud business, which I 
think was remarkable. 

900
00:51:00,120 --> 00:51:03,760
And we then saw something really
interesting. 

901
00:51:04,240 --> 00:51:06,680
We had 38,000 of these NVIDIA 
GPUs. 

902
00:51:06,880 --> 00:51:10,480
We had 4000 that we put on GPU 
as a service and we hit that 10 

903
00:51:10,480 --> 00:51:12,080
million. 
And so that the remainder of the

904
00:51:12,080 --> 00:51:18,240
34,000 we're getting inbounds 
like reverse inquiries to have 

905
00:51:18,240 --> 00:51:22,400
these cards. 
They were getting offers at 90% 

906
00:51:22,520 --> 00:51:24,200
of their face value. 
Oh way. 

907
00:51:24,520 --> 00:51:25,920
Three years after the fact. 
Wow. 

908
00:51:26,240 --> 00:51:29,440
So there was no depreciation 
and, and just to explain it to 

909
00:51:29,440 --> 00:51:33,800
the audience, right, Initially 
you guys were using this to mine

910
00:51:34,160 --> 00:51:39,600
Etherium and then you guys took 
that hardware and you used it to

911
00:51:39,920 --> 00:51:42,840
essentially service the AI 
business, right? 

912
00:51:42,840 --> 00:51:46,800
So you, you guys took you guys 
took pre-existing hardware to 

913
00:51:46,800 --> 00:51:50,480
service the AI business. 
And then because the AI, because

914
00:51:50,640 --> 00:51:54,960
AI, the these LLMS like there, 
there's just so much demands. 

915
00:51:55,120 --> 00:51:59,240
The depreciation of the hardware
didn't happen as if it would it 

916
00:51:59,240 --> 00:52:01,400
normally would, right? 
You would have this crazy 

917
00:52:01,400 --> 00:52:04,520
depreciation. 
So despite you guys using these 

918
00:52:04,520 --> 00:52:08,960
cards for three years, taking 
them away from Etherium, using 

919
00:52:08,960 --> 00:52:12,800
them for the AI business, while 
of course simultaneously cause 5

920
00:52:12,800 --> 00:52:17,800
is a dual engine mining Bitcoin,
you guys were did, were you, 

921
00:52:18,200 --> 00:52:22,040
were you comfortable selling 
some of these, some of these GPU

922
00:52:22,040 --> 00:52:25,320
chips? 
I mean, like I don't get 90% of 

923
00:52:25,320 --> 00:52:29,120
its original value after 
extracting value out of these 

924
00:52:29,120 --> 00:52:31,560
chips for three years. 
I mean, that's a hell of a 

925
00:52:31,560 --> 00:52:33,040
business move. 
Yeah. 

926
00:52:33,040 --> 00:52:36,760
Well, I'll tell you why. 
It's because we, we, we were, we

927
00:52:36,760 --> 00:52:41,000
saw a strategic inflection point
where we realized we could 

928
00:52:41,000 --> 00:52:44,920
crystallize an ROI. 
So those 34,000 GPU's had been 

929
00:52:44,920 --> 00:52:48,360
mining Etherium and then all 
coins for the interim period. 

930
00:52:48,800 --> 00:52:54,640
And we thought, OK, you know, 
let's, let's sell these net net 

931
00:52:54,640 --> 00:52:57,680
with the income that they had 
made from operating over those 

932
00:52:58,320 --> 00:53:02,600
three years plus plus getting 
90% their face value. 

933
00:53:02,600 --> 00:53:05,600
I think they had ROI 40% on 
operations and then we're 

934
00:53:05,600 --> 00:53:09,440
selling them for 90%. 
So we're getting 130%, we're 

935
00:53:09,440 --> 00:53:12,800
clearing 30% profit on our 
original investment. 

936
00:53:13,040 --> 00:53:16,040
Then we took that capital and we
bought H1 hundreds and then we 

937
00:53:16,040 --> 00:53:18,960
bought H2 hundreds. 
So we scaled up to get the newer

938
00:53:20,400 --> 00:53:24,240
Hopper series and the H1 
hundreds and H2 hundreds got our

939
00:53:24,600 --> 00:53:28,520
revenue to 20 million ARR. 
And you know, we started working

940
00:53:28,520 --> 00:53:31,400
with Dell and Supermicro and all
these OEMs are great. 

941
00:53:31,400 --> 00:53:34,040
It's kind of like, you know, 
there's so much so much overlap 

942
00:53:34,040 --> 00:53:37,680
to the crypto mining game 
because you you you work with 

943
00:53:37,680 --> 00:53:40,760
bit main, you might work with 
Canon, whatever super micro and 

944
00:53:40,760 --> 00:53:45,680
so you the in in AI world yeah, 
it's all for the most part 

945
00:53:45,680 --> 00:53:48,720
NVIDIA GPU's, you know, AM DS 
coming out too, but really it's 

946
00:53:48,800 --> 00:53:51,640
a we run all NVIDIA currently 
we're NVIDIA cloud partner. 

947
00:53:52,280 --> 00:53:55,000
We're preferred partner in their
AI network. 

948
00:53:55,560 --> 00:53:58,840
And but you don't buy the GPUs 
from NVIDIA. 

949
00:53:58,840 --> 00:54:00,880
You buy the GPUs from what's 
called an OEM. 

950
00:54:00,880 --> 00:54:03,200
Because if I just gave you GPU, 
you'd be like, great. 

951
00:54:03,200 --> 00:54:04,720
Like this doesn't do anything on
someone. 

952
00:54:04,720 --> 00:54:07,480
It has to be in a server just 
like somebody for all you guys 

953
00:54:07,480 --> 00:54:12,640
that maybe played video games 
before laptops or gaming PCs 

954
00:54:12,640 --> 00:54:14,320
that had GPUs, you need the 
whole system. 

955
00:54:14,320 --> 00:54:16,560
You, you, you need a server. 
And that's really what the OEM 

956
00:54:16,560 --> 00:54:19,240
does. 
Dell is known as a, a computer 

957
00:54:19,640 --> 00:54:21,240
company, right? 
So they're making enterprise 

958
00:54:21,280 --> 00:54:24,440
grade servers. 
Now you're stacking AGP us in 

959
00:54:24,440 --> 00:54:26,920
there, you're going to be on the
thermodynamics and making sure 

960
00:54:26,920 --> 00:54:29,880
you've got a good base band 
compute and all that stuff and 

961
00:54:29,880 --> 00:54:31,680
following video reference 
architecture. 

962
00:54:32,240 --> 00:54:37,200
I would say performance wise 
between Dell super micro HP, you

963
00:54:37,200 --> 00:54:39,240
know, they're, they're 
constantly evolving and, and, 

964
00:54:39,280 --> 00:54:41,600
and trying to be better, faster 
and cheaper. 

965
00:54:41,880 --> 00:54:44,480
But the other distinguishing 
factor is availability and 

966
00:54:44,480 --> 00:54:46,680
timeline, because there's so 
much demand, you know, so if 

967
00:54:46,680 --> 00:54:49,280
you've got a client like I think
right now we've got a couple of 

968
00:54:49,280 --> 00:54:53,760
billion dollars of, of demand 
of, you know, reverse inbound 

969
00:54:54,280 --> 00:54:58,000
enterprises, The I natives are 
like, hey, we'd love to get this

970
00:54:58,000 --> 00:55:01,440
much compute now if you can. 
And of course, you know, we, we 

971
00:55:01,440 --> 00:55:06,400
work with the the best quality 
clients with the the strongest 

972
00:55:06,400 --> 00:55:09,040
backing and, and what we think 
are the best commercial terms 

973
00:55:09,040 --> 00:55:10,520
for our business and for our 
shareholders. 

974
00:55:10,520 --> 00:55:14,040
And we prioritize those and, and
then we go to market to source 

975
00:55:14,040 --> 00:55:15,680
that compute and and bring it 
online. 

976
00:55:15,680 --> 00:55:17,880
And our partnership with Bell, 
which we'll talk about shortly. 

977
00:55:18,320 --> 00:55:22,560
So this is kind of how we arrive
to where we are and touching on 

978
00:55:22,560 --> 00:55:25,640
that partnership with Bell, we 
which and Bell is the largest 

979
00:55:25,640 --> 00:55:30,200
telecom company in Canada. 
It's as if you partnered with 

980
00:55:30,280 --> 00:55:33,360
AT&T and AT&T said, OK, Nico, 
you're going to be our exclusive

981
00:55:33,360 --> 00:55:34,960
partner. 
You're going to build a few 

982
00:55:34,960 --> 00:55:36,680
clusters. 
We're going to take our telecom 

983
00:55:36,680 --> 00:55:39,680
data centers, upgrade them for 
liquid cooled high power 

984
00:55:39,680 --> 00:55:43,120
density, so you can run AI 
clusters, but we're in the telco

985
00:55:43,120 --> 00:55:45,840
data center business. 
You do the GPU sourcing, which 

986
00:55:45,840 --> 00:55:47,800
is very CapEx intensive. 
That's what we've done with 

987
00:55:47,800 --> 00:55:51,680
Dell, which is remarkable. 
And so it gives us a massive 

988
00:55:51,680 --> 00:55:54,000
demand funnel because they have 
all their enterprise clients 

989
00:55:54,320 --> 00:55:57,600
that they want to offer 
sovereign compute to. 

990
00:55:57,640 --> 00:56:01,400
And so it's a demand funnel for 
us and and Dell gets a, you 

991
00:56:01,400 --> 00:56:05,040
know, small single digit 
percentage for any customers. 

992
00:56:05,040 --> 00:56:07,600
They refer to us, obviously, 
which are going to be very blue 

993
00:56:07,600 --> 00:56:10,640
chip. 
And then on the other hand, for 

994
00:56:10,640 --> 00:56:13,440
customers that we bring that are
not through Dell, but go in 

995
00:56:13,440 --> 00:56:16,400
these Dell data centers because 
effectively we're Co locating in

996
00:56:16,400 --> 00:56:19,560
Bells data centers. 
Why 2 reasons QuickTime to 

997
00:56:19,560 --> 00:56:21,880
market because it's all again, 
again, time and place like 

998
00:56:22,520 --> 00:56:24,600
anyone can get GP us a year from
now. 

999
00:56:24,640 --> 00:56:27,960
Like that's, you know, who can 
get capacity online today and 

1000
00:56:27,960 --> 00:56:30,160
what do you need? 
You need it's like crypto mine. 

1001
00:56:30,160 --> 00:56:32,040
You got to have your your data 
center complete. 

1002
00:56:32,040 --> 00:56:33,400
You got to have your ASICS 
plugged in. 

1003
00:56:33,800 --> 00:56:36,440
You can't if you have a bunch of
ASICS on the floor or your data 

1004
00:56:36,440 --> 00:56:38,040
center is almost complete, but 
it ain't. 

1005
00:56:39,880 --> 00:56:42,400
You're not mining, you're not 
hashing, So you need all your 

1006
00:56:42,400 --> 00:56:44,640
info and you need your compute 
ready and orchestrated and 

1007
00:56:44,640 --> 00:56:48,640
deployed. 
So the Bell partnership gives us

1008
00:56:48,640 --> 00:56:54,080
a near term ramp to bring online
that liquid cooled high power 

1009
00:56:54,080 --> 00:56:57,560
density next generation data 
center capacity immediately. 

1010
00:56:57,920 --> 00:57:00,040
And that was a big excitement. 
A few weeks ago we did that 

1011
00:57:00,040 --> 00:57:03,360
press release with Bell that we 
expanded Forex the footprint. 

1012
00:57:03,360 --> 00:57:06,280
So what that meant was we had a 
facility in Winnipeg, Canada, 

1013
00:57:06,280 --> 00:57:09,400
kind of in the central Canada. 
It's like our Manitoba's like 

1014
00:57:09,400 --> 00:57:12,840
are help me out here are 
Minnesota. 

1015
00:57:12,840 --> 00:57:14,960
What what's kind of in the 
center of the US or maybe like 

1016
00:57:14,960 --> 00:57:17,960
our Iowa, Manitoba's like our 
Iowa. 

1017
00:57:18,320 --> 00:57:20,040
And so there's a data center 
there. 

1018
00:57:20,040 --> 00:57:23,800
We stood up 500 NVIDIA Blackwell
B2 hundreds. 

1019
00:57:24,080 --> 00:57:25,360
And that was a deal through 
Bellin. 

1020
00:57:25,360 --> 00:57:30,520
So that was a $30 million deal 
over 2 years, so 15,000,000 ARR 

1021
00:57:30,800 --> 00:57:32,200
and that. 
And so we've already started 

1022
00:57:32,200 --> 00:57:33,880
ramping. 
So we're at 20 million ARR 

1023
00:57:33,880 --> 00:57:37,880
December 31, we're now at 35 
million ARR and we're we're 

1024
00:57:37,880 --> 00:57:42,600
laddering up. 
And this $100 million note deal 

1025
00:57:43,240 --> 00:57:50,120
is, which closes next Tuesday, 
by the way, is going to, yeah, 

1026
00:57:50,120 --> 00:57:52,040
it's, it's going to be amazing. 
It's just, it's just going to be

1027
00:57:52,040 --> 00:57:56,360
rocket fuel for us to to bring 
online more GPU clusters in the 

1028
00:57:56,520 --> 00:58:00,200
Phase 2 Bell facility in British
Columbia. 

1029
00:58:00,200 --> 00:58:02,680
And so that's the big news. 
So now there's 12 1/2 megawatts 

1030
00:58:02,680 --> 00:58:06,360
of capacity in the British 
Merritt BCS on the West Coast 

1031
00:58:06,600 --> 00:58:09,040
where I'm based. 
So that's super exciting. 

1032
00:58:09,040 --> 00:58:13,240
So we've got a big footprint of 
data center capacity ready. 

1033
00:58:13,240 --> 00:58:17,400
Now was the, the new capacity in
Merit was ready April 1. 

1034
00:58:17,800 --> 00:58:21,560
And we've got, you know, 2 
deals, 2 really exciting deals 

1035
00:58:21,800 --> 00:58:25,600
with MO use in place for large 
GPU clusters that we're going to

1036
00:58:25,600 --> 00:58:28,440
be bringing to market. 
And so stay tuned for updates on

1037
00:58:28,440 --> 00:58:30,240
that as, as we announce the 
definitives. 

1038
00:58:30,680 --> 00:58:35,320
And I think it's just going to 
be a really great quarter and 

1039
00:58:35,440 --> 00:58:37,880
something, and the stocks 
performing really well. 

1040
00:58:37,880 --> 00:58:42,240
We're up 15% today. 
Fantastic 58,000,000 shares, a 

1041
00:58:42,240 --> 00:58:44,320
lot traded the last time I I 
checked. 

1042
00:58:44,320 --> 00:58:45,880
So it's, it's good to be here, 
man. 

1043
00:58:45,880 --> 00:58:50,160
And, and, you know, like, it's 
been a crazy busy week, you 

1044
00:58:50,160 --> 00:58:53,360
know, dozens and dozens of 
meetings with institutional 

1045
00:58:53,360 --> 00:58:55,360
investors. 
But, you know, I always got time

1046
00:58:55,360 --> 00:58:57,920
for simply Bitcoin. 
Well, thanks for joining us, 

1047
00:58:57,920 --> 00:59:00,040
Ivan. 
It's always a pleasure to have 

1048
00:59:00,040 --> 00:59:03,560
you on the show. 
And again, it's the, the series 

1049
00:59:03,560 --> 00:59:07,440
of events blew my mind. 
So originally I got the PR 

1050
00:59:07,440 --> 00:59:12,120
release and it was 75,000,000 
and then the updated, the 

1051
00:59:12,120 --> 00:59:15,320
updated news it, it went up to 
100 million. 

1052
00:59:15,520 --> 00:59:18,120
And I think the, the thing 
that's sticking out to me the 

1053
00:59:18,120 --> 00:59:21,720
most, Ivan, is the fact that you
guys don't have to pay any 

1054
00:59:21,720 --> 00:59:23,400
interest on this. 
You guys don't have to pay 

1055
00:59:23,400 --> 00:59:26,200
anything on this until 2031. 
Is that correct? 

1056
00:59:26,800 --> 00:59:28,640
Correct. 
Yeah, it's a five year bond, so.

1057
00:59:29,000 --> 00:59:33,160
So that means again, please 
correct me and step in here. 

1058
00:59:33,160 --> 00:59:36,600
I didn't if, if, if I'm wrong, 
but that tells me that the 

1059
00:59:36,600 --> 00:59:42,240
market is extremely confident in
you guys as a company to deploy 

1060
00:59:42,600 --> 00:59:46,960
and extremely confident in you 
guys to make a return on it on, 

1061
00:59:46,960 --> 00:59:50,040
on, on their investment, right? 
Am I wrong in saying that? 

1062
00:59:50,720 --> 00:59:52,080
No, you're, you're absolutely 
right. 

1063
00:59:52,200 --> 00:59:55,240
You're absolutely right. 
And that's why we were really 

1064
00:59:55,240 --> 00:59:59,640
pleased with the outcome. 
And, and so I, I kind of want to

1065
00:59:59,640 --> 01:00:03,080
keep it super high level and 
just be mindful of, you know, 

1066
01:00:03,080 --> 01:00:05,080
whatever was in the press 
release is the sort of the 

1067
01:00:05,080 --> 01:00:08,800
extent of which I can opine on. 
But you, you interpret it 

1068
01:00:09,240 --> 01:00:13,440
perfectly well. 
And I think that, you know, all 

1069
01:00:13,440 --> 01:00:16,480
the feedback that we've gotten 
so far has been overwhelmingly 

1070
01:00:16,480 --> 01:00:20,800
positive and. 
Yeah, so could. 

1071
01:00:21,200 --> 01:00:24,360
You tell us, Aiden, a little bit
about what you're gonna use the 

1072
01:00:24,360 --> 01:00:27,800
100 million for 'cause that's a 
lot, that's a lot of money. 

1073
01:00:27,800 --> 01:00:29,440
What? 
What are you guys going to use 

1074
01:00:29,440 --> 01:00:32,760
that of course of? 
Course, So I I mean just to put 

1075
01:00:32,760 --> 01:00:36,280
it into context, we're all about
best ROI. 

1076
01:00:36,280 --> 01:00:40,280
See same way we targeted when 
your ROI in Bitcoin mining after

1077
01:00:40,280 --> 01:00:45,200
cost when procuring A6, same way
that we acquired the 300 MW site

1078
01:00:45,200 --> 01:00:49,480
in Paraguay, well 200 megawatts 
and and and built that out for I

1079
01:00:49,480 --> 01:00:52,800
think our blended average cost 
was 400 grand a MW in Paraguay. 

1080
01:00:53,040 --> 01:00:56,480
We always think how is this, how
is this going to make money for 

1081
01:00:56,480 --> 01:00:59,520
the company and the shareholders
in in the least dilutive way. 

1082
01:00:59,520 --> 01:01:02,720
So fundamentally you need a low 
cost of capital which we now 

1083
01:01:02,720 --> 01:01:06,120
have, I mean doesn't get much 
better than 0% coupon. 

1084
01:01:06,320 --> 01:01:07,880
And in a way, just a quick note 
on that. 

1085
01:01:07,920 --> 01:01:10,760
The way I think of it for myself
at least, and this is just me, 

1086
01:01:11,120 --> 01:01:14,240
me talking and I'm not an 
investment banker, I'm an 

1087
01:01:14,240 --> 01:01:18,520
electronic engineer that's now 
ACEO and I work with investment 

1088
01:01:18,520 --> 01:01:19,920
bankers all day and they're 
great. 

1089
01:01:19,920 --> 01:01:22,880
But when you do an equity 
financing, usually you do at a 

1090
01:01:22,880 --> 01:01:24,760
discount to your market price, 
right? 

1091
01:01:25,800 --> 01:01:30,080
Really when you have a 
convertible note with 0 interest

1092
01:01:30,520 --> 01:01:34,600
and a conversion at a premium, 
it's, it's way better because 

1093
01:01:34,680 --> 01:01:38,120
you're basically having the 
money to build the business. 

1094
01:01:38,360 --> 01:01:41,880
It's way less dilutive, way less
dilutive is what I'm getting at 

1095
01:01:41,920 --> 01:01:46,240
because instead of if the shares
convert, they're done at a 

1096
01:01:46,240 --> 01:01:49,440
premium to your price, not a 
discount as if you didn't equity

1097
01:01:49,440 --> 01:01:51,760
financing. 
So I think it's, it's a much 

1098
01:01:51,760 --> 01:01:58,120
lower cost of capital. 
And and then in terms of the 

1099
01:01:58,120 --> 01:02:01,360
deployment to answer your 
question directly, as mentioned,

1100
01:02:01,360 --> 01:02:04,240
there's there's two large GPU 
cluster deals that it's in our 

1101
01:02:04,240 --> 01:02:05,840
deck. 
So you know we've got we're 

1102
01:02:05,840 --> 01:02:10,880
targeting bringing on 60 million
ARR plus with one cluster and 

1103
01:02:10,880 --> 01:02:13,560
another 60 million ARR. 
So again, the data center 

1104
01:02:13,560 --> 01:02:16,560
capacity that's taken care of, 
it's our low CapEx strategy 

1105
01:02:16,560 --> 01:02:18,440
because we really felt like 
under $5. 

1106
01:02:18,440 --> 01:02:23,600
We're undervalued as a company. 
And so this partnership with 

1107
01:02:23,600 --> 01:02:25,480
Bell, it allows us to scale low 
CapEx. 

1108
01:02:25,480 --> 01:02:29,640
And then we've been meeting a 
lot of blue chip GP financiers. 

1109
01:02:29,640 --> 01:02:32,280
GPS are emerging as an asset 
class Nikko, which is really 

1110
01:02:32,280 --> 01:02:34,760
interesting. 
And what's so cool is that we're

1111
01:02:34,760 --> 01:02:38,920
seeing a lot of our friends 
shout out to Ethan at Luxor from

1112
01:02:38,920 --> 01:02:44,760
the crypto world that are now 
getting into sourcing infra for 

1113
01:02:44,760 --> 01:02:48,280
HPC, you know, and, and I think 
that's really cool. 

1114
01:02:48,280 --> 01:02:50,440
Shout out to Kevin, Kevin Zhang 
as well. 

1115
01:02:50,440 --> 01:02:54,160
So all the all our friends 
because crypto mining is so 

1116
01:02:54,160 --> 01:02:56,160
entrepreneurial and everyone 
learns so quick. 

1117
01:02:56,160 --> 01:03:03,360
And So what we're seeing is 
really amazing blue chip lenders

1118
01:03:03,360 --> 01:03:07,160
that are willing to finance GPU 
purchases for single digit 

1119
01:03:07,160 --> 01:03:09,520
interest, right high single 
digits. 

1120
01:03:09,520 --> 01:03:16,280
And so for us, if we could get 
single digit interest lease to 

1121
01:03:16,280 --> 01:03:18,400
own and you know, some of the 
earlier deals that were done in 

1122
01:03:18,400 --> 01:03:22,160
this space on a no names basis, 
but you know, really expensive 

1123
01:03:22,160 --> 01:03:24,960
debt with like press shares and 
and all warrants and all this 

1124
01:03:25,400 --> 01:03:29,840
other, you know, SPV stuff, like
we've not done any of that. 

1125
01:03:29,840 --> 01:03:32,800
We just want least to own simple
straight line. 

1126
01:03:33,280 --> 01:03:36,280
What's your what's your cost, 
your GPUs, you know, you're 

1127
01:03:36,280 --> 01:03:38,960
paying single digit interest and
at the end of the term, you own 

1128
01:03:38,960 --> 01:03:39,520
them. 
That's it. 

1129
01:03:39,520 --> 01:03:42,960
Like no, no funky weird 
financing. 

1130
01:03:42,960 --> 01:03:49,320
And so that deal with a, with a 
bit of a down payment is what 

1131
01:03:49,640 --> 01:03:51,560
these the use of proceeds will 
be. 

1132
01:03:51,560 --> 01:03:54,520
So it'll be a down payment for 
each cluster, right. 

1133
01:03:55,080 --> 01:04:00,200
And that really gets each 
cluster funded and financed. 

1134
01:04:00,200 --> 01:04:03,000
And, and then we move to 
definitive and, and we bring 

1135
01:04:03,000 --> 01:04:05,640
these deals online. 
So again, it's, it's just a 

1136
01:04:05,640 --> 01:04:08,600
building block. 
So get the data center capacity 

1137
01:04:08,600 --> 01:04:12,440
with Bell that's announced, 
funding is in place, finance 

1138
01:04:12,440 --> 01:04:14,840
large GPU clusters. 
And by the way, another thing 

1139
01:04:14,840 --> 01:04:17,760
I'm going to point out just for 
your kind of more like investor 

1140
01:04:17,760 --> 01:04:21,800
savvy viewers is I spent a lot 
of time talking to people on 

1141
01:04:21,800 --> 01:04:24,480
Wall Street. 
Wall Street doesn't want to 

1142
01:04:24,480 --> 01:04:28,520
speculate on the residual value 
of GPU's in two or three or four

1143
01:04:28,520 --> 01:04:31,720
years, even though I started 
with that anecdote of us selling

1144
01:04:32,120 --> 01:04:34,000
our A 40s for 90% of their 
costs. 

1145
01:04:34,320 --> 01:04:37,320
But that was that was, I would 
say that was luck because I 

1146
01:04:37,320 --> 01:04:42,240
don't think it I don't think 
anyone knew that they those 

1147
01:04:42,360 --> 01:04:46,680
hardware devices would be able 
to be repurposed for the 

1148
01:04:46,680 --> 01:04:49,720
incoming AI demand. 
Correct. 

1149
01:04:49,720 --> 01:04:52,720
However, however, it is a real 
data point. 

1150
01:04:52,720 --> 01:04:54,480
We transacted on it. 
We made money. 

1151
01:04:54,480 --> 01:04:57,720
It wasn't just like, you know, 
we saw something on some web 

1152
01:04:57,720 --> 01:05:00,000
page and we're like oh look at 
that and took a screenshot and 

1153
01:05:00,000 --> 01:05:04,080
told everybody, you know, we 
transacted on 34,000 GPU's, made

1154
01:05:04,080 --> 01:05:05,920
that money back and reinvested 
it. 

1155
01:05:05,920 --> 01:05:09,840
And just a spot check. 
I had Mario on our team double 

1156
01:05:09,840 --> 01:05:13,200
check and he went back to the 
market to get the prices on 

1157
01:05:13,200 --> 01:05:18,280
those a 40s today and you go, 
those cards we bought for 4200 

1158
01:05:18,640 --> 01:05:21,880
and there's offers like almost 
$3000 per. 

1159
01:05:22,040 --> 01:05:25,560
That's like 70% and now they're 
five years old, right? 

1160
01:05:25,560 --> 01:05:27,200
And here's another, here's 
another stat. 

1161
01:05:27,200 --> 01:05:28,680
I just confirmed this on our 
morning call. 

1162
01:05:28,680 --> 01:05:30,280
We huddle every day, seven 
actually. 

1163
01:05:30,280 --> 01:05:32,560
It's nice being in Texas. 
Our morning huddle is at 9:00 

1164
01:05:32,560 --> 01:05:36,320
AM, not 7:00 AM like when I'm 
back home in Vancouver. 

1165
01:05:36,320 --> 01:05:39,280
Me and Darcy always start a day 
super early and go super late. 

1166
01:05:39,280 --> 01:05:42,520
It's pretty common for us to 
knock out 12 to 15 hour days. 

1167
01:05:42,520 --> 01:05:43,600
But you got to love the game, 
right? 

1168
01:05:43,600 --> 01:05:53,240
It's just for the love of the 
game and the the marketplaces. 

1169
01:05:53,240 --> 01:05:55,560
So we have still have our A 
Series cards on demand, but 

1170
01:05:55,560 --> 01:05:58,400
going forward all our GPUs are 
long term contracts. 

1171
01:05:58,400 --> 01:06:02,600
We still have our A Series cards
on demand, they just up increase

1172
01:06:02,600 --> 01:06:06,320
the prices by 10% for all our 
cars on the marketplaces. 

1173
01:06:06,320 --> 01:06:11,400
So H $204.00 an hour, H1 
hundreds are getting like 3 

1174
01:06:11,400 --> 01:06:13,880
bucks an hour, a 40 is getting 
$0.44 an hour. 

1175
01:06:13,880 --> 01:06:16,440
So still really strong demand 
which is amazing. 

1176
01:06:17,000 --> 01:06:20,000
And I mean 4 bucks an hour for 
an H200 on demand that's that's 

1177
01:06:20,000 --> 01:06:24,520
that's healthy. 
But, but going forward for these

1178
01:06:24,520 --> 01:06:27,200
large cluster deals, you know, 
the street wants to see 

1179
01:06:27,200 --> 01:06:30,200
three-year plus deals because if
you are aligned 2 1/2 years, 

1180
01:06:30,200 --> 01:06:33,360
it's really simple. 
This might be helpful for, for 

1181
01:06:33,360 --> 01:06:37,800
the broader audience, if you can
ROIAGPU on a fixed contract in 2

1182
01:06:37,800 --> 01:06:40,160
1/2 years. 
Well, if your contract's two 

1183
01:06:40,160 --> 01:06:42,640
years, you're almost there. 
Now we're really confident. 

1184
01:06:42,640 --> 01:06:45,360
We're sure those GPS are going 
to be worth at least half, maybe

1185
01:06:45,360 --> 01:06:50,160
6070% at the end of that term. 
And you can say, well, I've ROI 

1186
01:06:50,160 --> 01:06:53,680
the GPU like 90%, they're going 
to be worth 60% when I paid for 

1187
01:06:53,680 --> 01:06:57,000
them net, net, I'm still had 50%
on my investment. 

1188
01:06:57,400 --> 01:07:00,800
But like Wall Street doesn't 
want that kind of speculation. 

1189
01:07:00,800 --> 01:07:04,040
They want to know that you've 
signed a contract that's 100% 

1190
01:07:04,040 --> 01:07:06,920
paid off that you use. 
And then people might say, well,

1191
01:07:06,920 --> 01:07:10,720
hold on, why would why would a 
customer sign a contract just to

1192
01:07:10,720 --> 01:07:13,680
lease the compute for more than 
the cost of the GPS? 

1193
01:07:13,680 --> 01:07:15,280
Well, because that's just the 
cost of GPS. 

1194
01:07:15,280 --> 01:07:17,840
You still have to orchestrate 
them, install them, operate 

1195
01:07:17,840 --> 01:07:18,560
them, and that's the whole 
thing. 

1196
01:07:18,560 --> 01:07:19,800
And that's just a different 
business. 

1197
01:07:20,280 --> 01:07:22,880
The compute is way more valuable
to them. 

1198
01:07:22,880 --> 01:07:26,000
They have asymmetric upside 
because of compute is so 

1199
01:07:26,000 --> 01:07:28,200
valuable to them in a timely 
manner. 

1200
01:07:28,200 --> 01:07:31,040
What I keep threading through 
our conversation today is time 

1201
01:07:31,040 --> 01:07:33,680
to market. 
So everybody wants compute 

1202
01:07:33,680 --> 01:07:36,400
today, not in 12 months. 
Of course, because they, they 

1203
01:07:36,400 --> 01:07:40,840
don't want the, they don't want 
the GPU just unplugs without the

1204
01:07:40,840 --> 01:07:44,560
necessary infrastructure, 
because HBC does require a Tier 

1205
01:07:44,560 --> 01:07:46,680
3 center. 
They don't want, they, they 

1206
01:07:46,680 --> 01:07:48,880
don't want the, you know, they 
don't want the device on a 

1207
01:07:48,880 --> 01:07:51,680
shelf. 
They want to have confidence in 

1208
01:07:51,680 --> 01:07:54,880
a company's ability to not only 
deploy, but to have these 

1209
01:07:54,880 --> 01:07:57,040
computers online. 
And then that's I think what 

1210
01:07:57,040 --> 01:08:00,000
they assign value to. 
Yeah, exactly. 

1211
01:08:00,000 --> 01:08:04,000
And so the street really likes 
to see three-year plus 

1212
01:08:04,000 --> 01:08:05,840
contracts. 
I think Corgi is well known for 

1213
01:08:05,840 --> 01:08:09,440
doing 5 year GPU contracts and 
then you're in a pretty lofty 

1214
01:08:09,440 --> 01:08:11,880
territory. 
I mean people say Oh well it's 

1215
01:08:12,120 --> 01:08:14,480
Cypher and Wolf are getting the 
best multiples because they're 

1216
01:08:14,480 --> 01:08:17,000
doing Kolo and I get that 
narrative. 

1217
01:08:17,000 --> 01:08:22,160
I understand core scientific 
wants to get a billion dollar 

1218
01:08:22,160 --> 01:08:26,880
NOI just from multiple long term
Co location leases just selling 

1219
01:08:26,880 --> 01:08:30,080
powered shell and then you 
become like a digital Realty and

1220
01:08:30,080 --> 01:08:32,880
you get crazy multiples that we 
fully get that. 

1221
01:08:32,880 --> 01:08:35,800
And guess what, we still have 
New Brunswick, we still have our

1222
01:08:35,800 --> 01:08:38,279
Toronto airport site. 
We still have little Bowden. 

1223
01:08:38,279 --> 01:08:41,479
So these are all like little 
Bowden. 

1224
01:08:41,680 --> 01:08:44,640
We, we did a, a trip a couple 
years ago, we flew at a bunch of

1225
01:08:44,640 --> 01:08:47,520
analysts to tour the site. 
It's a beautiful data center. 

1226
01:08:47,520 --> 01:08:49,359
Like not all data centres are 
built equally. 

1227
01:08:49,760 --> 01:08:55,080
It is a GPU data center and that
one is is a great candidate. 

1228
01:08:55,080 --> 01:08:58,000
Bone's a military town by the 
way, our Toronto airport data 

1229
01:08:58,000 --> 01:08:59,880
center. 
Also, it's not a crypto mine. 

1230
01:08:59,880 --> 01:09:02,600
It was actual an enterprise data
center that we bought. 

1231
01:09:02,960 --> 01:09:05,520
Amazing proximity, lot of 
reverse demand on that. 

1232
01:09:05,800 --> 01:09:08,240
It's only 7 megawatts. 
But when you Co locate that's a 

1233
01:09:08,240 --> 01:09:12,439
beautiful edge site. 
So right now military and and 

1234
01:09:12,439 --> 01:09:14,960
certain industries, hot 
enterprises have high demand for

1235
01:09:14,960 --> 01:09:17,200
edge sites. 
Edge sites, meaning kind of in 

1236
01:09:17,200 --> 01:09:21,439
cities, so really good proximity
and they don't need to be big. 

1237
01:09:22,160 --> 01:09:24,840
Those are strong demand. 
And of course, yeah, like people

1238
01:09:24,840 --> 01:09:28,160
say, oh, but if it's not a 300 
MW site, then, well, there's 

1239
01:09:28,160 --> 01:09:31,040
only 5 hyper scalers on the 
planet really that are buying 

1240
01:09:31,040 --> 01:09:32,120
those. 
And sure, they have massive 

1241
01:09:32,120 --> 01:09:36,720
demand, but there's huge demand 
for 30 MW and 80 MW data centers

1242
01:09:36,720 --> 01:09:39,560
and everything in between. 
So we've got some exciting 

1243
01:09:39,560 --> 01:09:42,000
things in the pipeline, which 
we've talked about. 

1244
01:09:42,000 --> 01:09:44,439
By the way, a lot of this is in 
our investor presentations. 

1245
01:09:44,439 --> 01:09:48,240
You watch our earnings webcast, 
you'll see all these details and

1246
01:09:48,760 --> 01:09:52,880
we are going to be building up 
the HPC Colo revenue stream as 

1247
01:09:52,880 --> 01:09:54,200
well. 
And, and I think that'll be 

1248
01:09:54,240 --> 01:09:56,720
really excited. 
But the, the, the, you know, 

1249
01:09:56,760 --> 01:10:00,520
excitement for today get these 
large GPU clusters online ramp 

1250
01:10:00,520 --> 01:10:07,480
that HPC, sorry that GPU cloud 
ARR from 20, we're at 35 million

1251
01:10:07,480 --> 01:10:10,920
now to north of 150 million. 
I'll get that out. 

1252
01:10:10,920 --> 01:10:13,400
And, and we still have GPS 
incoming for Winnipeg. 

1253
01:10:13,960 --> 01:10:16,720
We hope to do 500 GPS 1/4. 
Again, this is all in our 

1254
01:10:16,720 --> 01:10:18,400
projections in the investor 
deck. 

1255
01:10:18,400 --> 01:10:23,240
So net, net with, with 
everything in the pipeline, the 

1256
01:10:23,240 --> 01:10:27,320
target is 200 million ARR on the
GPU cloud business. 

1257
01:10:27,360 --> 01:10:30,560
And then we've got approximately
another 100 million between the 

1258
01:10:30,560 --> 01:10:34,400
New Brunswick site, Toronto and 
Little Boden, which would be 

1259
01:10:34,400 --> 01:10:38,760
2027 to bring online that 
compute as we retrofit those 

1260
01:10:38,760 --> 01:10:40,480
data centers. 
They're all functioning today. 

1261
01:10:40,760 --> 01:10:44,440
Toronto, Boden and New Brunswick
are functioning as Tier 1 crypto

1262
01:10:44,440 --> 01:10:46,560
mining operations today. 
And we'll go through and we'll 

1263
01:10:46,560 --> 01:10:48,600
provide the street more updates 
on that, which is really 

1264
01:10:48,600 --> 01:10:51,080
exciting too. 
So I think that I think I've 

1265
01:10:51,080 --> 01:10:52,920
covered it. 
Oh, we didn't really talk about 

1266
01:10:52,920 --> 01:10:54,880
one way, but that's that'll 
you'll have to. 

1267
01:10:55,160 --> 01:11:00,960
One final announcement as well. 
You guys are now on the not, You

1268
01:11:00,960 --> 01:11:05,040
guys are now on the Toronto 
Exchange, not the not the TSX 

1269
01:11:05,480 --> 01:11:07,440
Venture Exchange. 
You guys are on the Toronto 

1270
01:11:07,440 --> 01:11:08,360
Exchange. 
Is that correct? 

1271
01:11:08,960 --> 01:11:12,800
Yeah, man, everything's we're, 
we're in the major leagues now. 

1272
01:11:13,520 --> 01:11:16,440
We're a NASDAQ, a NASDAQ 90% of 
our volume. 

1273
01:11:17,360 --> 01:11:20,640
So effective April, first of 
all, actually US domestic filer.

1274
01:11:21,600 --> 01:11:26,080
So US domestic filer, we file US
Gap, our principal executive 

1275
01:11:26,080 --> 01:11:30,480
offices here in San Antonio. 
But as far as our Canadian 

1276
01:11:30,480 --> 01:11:33,560
liquidity, we have now graduated
to the big board as well, so. 

1277
01:11:33,800 --> 01:11:35,680
Fantastic. 
Go bigger, go home, baby. 

1278
01:11:35,680 --> 01:11:39,960
Yeah, fantastic. 
In Canada and Colombia too, and,

1279
01:11:40,480 --> 01:11:43,280
and, and, and of course, and, 
and, and the NASDAQ as well, 

1280
01:11:43,400 --> 01:11:46,560
which I was there for the, for 
the closing bell ceremony, which

1281
01:11:46,560 --> 01:11:50,280
was fantastic. 
Idan Killick, everybody, one of 

1282
01:11:50,280 --> 01:11:54,120
the smartest minds in the 
industry, president and CEO of 

1283
01:11:54,120 --> 01:11:57,640
Hive Digital Technologies. 
Hive was literally the first 

1284
01:11:57,640 --> 01:12:01,560
publicly traded Bitcoin miner. 
And again, it's a dual engine. 

1285
01:12:01,560 --> 01:12:05,520
So not only are they a Bitcoin 
miner, they are an AI machine. 

1286
01:12:05,520 --> 01:12:09,000
And, and Idan just laid out 
their future plans for the next 

1287
01:12:09,440 --> 01:12:11,640
couple quarters. 
Idan, it's always a pleasure to 

1288
01:12:11,640 --> 01:12:14,200
have you on the show. 
Thank you so much for joining us

1289
01:12:14,200 --> 01:12:17,080
and breaking it all down. 
I always enjoy our conversations

1290
01:12:17,320 --> 01:12:20,000
and I'm going to see you in 
Vegas in a week, which is going 

1291
01:12:20,000 --> 01:12:21,840
to be fantastic. 
So we're going to be, we're 

1292
01:12:21,840 --> 01:12:25,840
going to have two conversations 
back-to-back and of course we're

1293
01:12:25,840 --> 01:12:28,000
going to be releasing all of 
this on the Simply Bitcoin 

1294
01:12:28,000 --> 01:12:30,360
channels. 
And we of course the hide and 

1295
01:12:30,360 --> 01:12:33,600
the, the, the hive, the Hive 
merch is, is amazing. 

1296
01:12:33,600 --> 01:12:36,200
I'm wearing, I'm wearing the 
Hive Hive vest on right now. 

1297
01:12:36,200 --> 01:12:37,920
Guests are only for the 
executive. 

1298
01:12:37,920 --> 01:12:40,440
You know, the fact that you got 
that you're part of the extended

1299
01:12:40,440 --> 01:12:43,000
family, man I. 
I love it, I love it, I wear it 

1300
01:12:43,000 --> 01:12:45,680
every time you guys come on the 
show, but I didn't. 

1301
01:12:45,680 --> 01:12:47,600
Thank you so much for joining us
man Thank you. 

1302
01:12:48,520 --> 01:12:51,360
Enjoy your Friday and enjoy the 
weekend and I'll see you in 

1303
01:12:51,360 --> 01:12:52,200
Vegas. 
Yeah. 

1304
01:12:52,320 --> 01:12:54,480
And I just want to give a 
special shout out to Frank 

1305
01:12:54,480 --> 01:12:56,880
Holmes, our Executive Chairman, 
Co Founder, Darcy Debaris. 

1306
01:12:57,440 --> 01:13:00,120
Darcy and I, we crank through 
dozens of investor meetings 

1307
01:13:00,120 --> 01:13:03,200
together and you know, our team 
is is functioning. 

1308
01:13:03,200 --> 01:13:05,640
We just keep evolving. 
You know, we have a really high 

1309
01:13:05,640 --> 01:13:07,000
performance work culture at 
high. 

1310
01:13:07,000 --> 01:13:10,560
We've attracted incredible 
talent and and I'm so excited 

1311
01:13:10,560 --> 01:13:13,080
for what we have ahead. 
We're the longest standing 

1312
01:13:13,080 --> 01:13:16,080
C-Suite and two Bitcoin having 
is a theory emerged. 

1313
01:13:16,080 --> 01:13:19,880
We built our own ASIC miners 
just first to put the income on 

1314
01:13:19,880 --> 01:13:21,600
GPU cloud on our income 
statement. 

1315
01:13:21,600 --> 01:13:24,080
So it's going to be awesome. 
We'll see you in Vegas, Nico. 

1316
01:13:24,080 --> 01:13:27,360
Thank you for taking the time 
and it's always a pleasure. 

1317
01:13:27,480 --> 01:13:28,880
Honored to be here. 
Thank you my friend. 

1318
01:13:29,040 --> 01:13:30,320
Thank you. 
I didn't appreciate it. 

1319
01:13:30,520 --> 01:13:32,600
All right, guys, we're going to 
be right back after the break. 

1320
01:13:32,600 --> 01:13:35,920
Go check out HIVE, 
digitaltechnologies.com and then

1321
01:13:35,920 --> 01:13:38,320
go check out their ticker on the
NASDAQ Hive. 

1322
01:13:38,640 --> 01:13:39,680
I didn't. 
Thank you so much. 

1323
01:13:39,680 --> 01:13:42,840
Appreciate it. 
I want to give a shout out to 

1324
01:13:42,840 --> 01:13:45,240
our partner Leaden. 
Here's something most Bitcoin 

1325
01:13:45,240 --> 01:13:47,120
holders never figure out until 
it's too late. 

1326
01:13:47,200 --> 01:13:49,600
You're sitting on wealth you 
can't touch without selling. 

1327
01:13:49,720 --> 01:13:52,280
Leaden fixes that. 
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You keep your stack, you get 
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No complexity, no fine print. 
The larger the loan, the lower 

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the rate. 
These new rates apply to all new

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01:14:04,040 --> 01:14:08,280
loans, refinances and renewals. 
You'll see all the rates upfront

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The new lower rates come with 

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Don't choose between a great 
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All right everybody, it's the 

1386
01:17:08,240 --> 01:17:10,760
Friday show. 
We've made it Opti. 

1387
01:17:12,320 --> 01:17:16,160
I wish we we could play this 
without getting copyrighted, but

1388
01:17:16,240 --> 01:17:18,240
here would be an appropriate 
time to play. 

1389
01:17:18,240 --> 01:17:23,240
We are the Champions for making 
it another week with a crazy, 

1390
01:17:23,520 --> 01:17:27,560
crazy price action. 
Trump playing the 40 chess game.

1391
01:17:28,480 --> 01:17:29,520
Yeah man. 
How are you? 

1392
01:17:29,600 --> 01:17:30,800
Are you OK? 
How you doing? 

1393
01:17:30,800 --> 01:17:33,640
No, I'm dying not. 
Literally. 

1394
01:17:33,720 --> 01:17:37,200
Not literally well, kind of dude
guy I I was already telling you 

1395
01:17:37,200 --> 01:17:40,400
my stomach's so cooked today. 
I I was eating snacks late last 

1396
01:17:40,400 --> 01:17:43,440
night. 
I had the munchies not because 

1397
01:17:43,440 --> 01:17:46,560
of any, you know, any plant 
usage. 

1398
01:17:46,560 --> 01:17:49,880
I just had the late night 
munchies and I woke up this 

1399
01:17:49,880 --> 01:17:53,280
morning and my stomach is is so 
cooked. 

1400
01:17:53,400 --> 01:17:56,880
I don't feel that good. 
And then Sophie made me some 

1401
01:17:56,880 --> 01:17:59,680
breakfast and it just made my 
stomach even worse. 

1402
01:17:59,680 --> 01:18:02,680
So I'm struggling to just get 
over the finish line, to be 

1403
01:18:02,680 --> 01:18:05,040
completely honest with everyone 
here. 

1404
01:18:05,040 --> 01:18:10,080
But hey, Price Action's looking 
kind of good, so he feels a 

1405
01:18:10,080 --> 01:18:11,960
little better, I guess. 
Are we back? 

1406
01:18:12,560 --> 01:18:13,720
I don't know, man. 
I don't. 

1407
01:18:13,760 --> 01:18:15,560
I don't know. 
Are we back? 

1408
01:18:16,000 --> 01:18:22,120
Could be could be a bear trap. 
I'm trying not to get too 

1409
01:18:22,120 --> 01:18:26,680
bullish, to be honest with you 
guys, 'cause I, I don't want to,

1410
01:18:28,760 --> 01:18:31,640
you know, come back on the show 
on Monday and be like, actually,

1411
01:18:31,640 --> 01:18:32,920
it's, it's not over. 
I. 

1412
01:18:33,280 --> 01:18:35,280
Want to address this? 
I want to address this comment. 

1413
01:18:35,280 --> 01:18:37,680
Nico wasn't here all week, but 
he wants a trophy. 

1414
01:18:37,680 --> 01:18:40,640
This is very true. 
I, I want, I, I wish I had a 

1415
01:18:40,640 --> 01:18:43,360
trophy with me. 
I would, I would give it to Opti

1416
01:18:44,240 --> 01:18:48,760
cause Opti did Opti did hold it 
down all week. 

1417
01:18:49,080 --> 01:18:51,680
Guys. 
I I the the days that I don't 

1418
01:18:51,680 --> 01:18:53,800
make it on the show Opti could 
you can you back me up? 

1419
01:18:53,800 --> 01:18:57,120
Here, I'm not backing you up 
because I want to freaking end 

1420
01:18:57,440 --> 01:18:59,880
end it all. 
No, you don't. 

1421
01:18:59,880 --> 01:19:02,240
No, you don't. 
I don't want to do this anymore.

1422
01:19:04,680 --> 01:19:07,480
No, no, I'm I'm trolling. 
I did get a little black pilled 

1423
01:19:07,520 --> 01:19:08,760
on Thursday. 
Niko. 

1424
01:19:08,760 --> 01:19:16,320
Niko was trying to cheer me up 
before the show and I was 

1425
01:19:16,320 --> 01:19:20,720
cooked. 
But yeah, Nico Nico's not on the

1426
01:19:20,720 --> 01:19:23,520
show 'cause he's doing stuff it.
He doesn't get breaks. 

1427
01:19:23,520 --> 01:19:26,720
But it doesn't mean I'm not 
going to give you shit for it. 

1428
01:19:29,640 --> 01:19:33,600
Yeah, I mean, look guys, we just
brought on a new creator. 

1429
01:19:34,240 --> 01:19:35,880
Oh yeah, yeah. 
Go watch Hurley. 

1430
01:19:36,200 --> 01:19:38,200
Let's go. 
Go watch his new video. 

1431
01:19:38,200 --> 01:19:43,480
He dropped his new video 
yesterday and you guys have to 

1432
01:19:43,480 --> 01:19:47,320
check it out. 
It's fantastic and we're so 

1433
01:19:47,320 --> 01:19:53,960
hyped to have you know. 
An MVP of his caliber joined the

1434
01:19:53,960 --> 01:19:57,760
team. 
Dante, Hurley, Sophia and 

1435
01:19:57,760 --> 01:20:00,760
Ocean's creating original 
content for you guys. 

1436
01:20:00,760 --> 01:20:07,000
So this week was was the 
logistics of that, you know, and

1437
01:20:07,000 --> 01:20:09,400
just getting everything ready 
behind the scenes. 

1438
01:20:10,680 --> 01:20:12,480
You know, it, it takes a lot 
guys, is it? 

1439
01:20:12,960 --> 01:20:15,920
We're, we're, we're a 15 person 
team. 

1440
01:20:15,960 --> 01:20:20,240
So I kind of have to wear 2 
hats, which is, you know, 

1441
01:20:20,640 --> 01:20:24,360
running the company and making 
sure things don't meltdown and 

1442
01:20:24,360 --> 01:20:28,040
also being a host. 
So Opti is literally a 

1443
01:20:28,040 --> 01:20:31,280
lifesaver. 
And yeah, but. 

1444
01:20:31,280 --> 01:20:34,120
Well, I'm saving your life by 
destroying my own. 

1445
01:20:34,120 --> 01:20:35,800
That's just part. 
That's just part of the problem.

1446
01:20:35,800 --> 01:20:40,440
Stop saying that my life's in. 
Shambles over here guys I'm I'm 

1447
01:20:40,440 --> 01:20:45,200
doing my best no, I'm I'm 
actually good guys don't don't 

1448
01:20:45,200 --> 01:20:48,040
worry I'm I'm I'm like actually 
good I'm just I'm just trolling 

1449
01:20:48,040 --> 01:20:48,920
I'm. 
Just trolling. 

1450
01:20:51,160 --> 01:20:52,760
It's just fun. 
It's fun. 

1451
01:20:53,040 --> 01:20:58,400
You know the funniest part about
Nico is I like constantly joke 

1452
01:20:58,560 --> 01:21:01,480
all day every day. 
Like I the only time I probably 

1453
01:21:01,480 --> 01:21:03,480
say something serious is on this
show. 

1454
01:21:03,520 --> 01:21:05,960
And even then I'm still joking 
half the time as you guys are 

1455
01:21:05,960 --> 01:21:08,560
aware. 
And I just like rage bait and 

1456
01:21:08,560 --> 01:21:13,160
troll Nico all day every day. 
And he doesn't get that I'm 

1457
01:21:13,160 --> 01:21:16,520
making jokes the whole time that
I'm like literally not serious 

1458
01:21:16,520 --> 01:21:19,680
90% of the time. 
And he takes it very seriously 

1459
01:21:19,680 --> 01:21:25,520
and he's concerned, but that's 
just the way it goes. 

1460
01:21:26,160 --> 01:21:29,520
I also got a comment which is, 
is ocean out? 

1461
01:21:29,520 --> 01:21:32,000
No, of course oceans is is a 
partner of simply. 

1462
01:21:32,000 --> 01:21:36,720
We just haven't recorded the ad 
yet, but that will be out next 

1463
01:21:36,720 --> 01:21:39,160
week. 
But yes, go check out Ocean No. 

1464
01:21:39,160 --> 01:21:42,960
I think he means. 
I think he's spelling oceans. 

1465
01:21:44,240 --> 01:21:46,000
Oh, oceans. 
The creator. 

1466
01:21:46,240 --> 01:21:48,760
No Oceans is still with us, of 
course. 

1467
01:21:49,440 --> 01:21:50,920
Yeah, I think that's what. 
It's O. 

1468
01:21:50,920 --> 01:21:54,520
It's OSHINS. 
Yeah. 

1469
01:21:55,040 --> 01:21:57,640
Oceans. 
Not I think that's what the 

1470
01:21:57,640 --> 01:21:59,600
question is. 
I I think that's what it was, 

1471
01:22:00,320 --> 01:22:04,880
but but yeah, man, what a week. 
What a week. 

1472
01:22:05,880 --> 01:22:09,760
Wait down under Blues pop these 
42 Iqs really taking advantage 

1473
01:22:09,760 --> 01:22:12,160
of it's pretty. 
It's pretty crazy, man. 

1474
01:22:12,160 --> 01:22:16,800
We had two C, We had two heavy 
hitter CEOs on on on this week's

1475
01:22:16,800 --> 01:22:19,880
show. 
We had Brandon Green, CEO of 

1476
01:22:19,880 --> 01:22:24,760
Bitcoin Magazine and then we had
president and CEO of Hive 

1477
01:22:24,760 --> 01:22:28,480
Digital Technologies, Idan 
Killick on today's show. 

1478
01:22:28,480 --> 01:22:34,400
So man, what a week heavy 
hitters you guys got to tune 

1479
01:22:34,400 --> 01:22:37,160
into simply, you guys won't get 
this content anywhere else. 

1480
01:22:37,160 --> 01:22:41,800
So yeah, but anyways, guys, 
thank you so much for putting up

1481
01:22:41,800 --> 01:22:44,920
with us tuning into our show. 
We wouldn't be here without any 

1482
01:22:44,920 --> 01:22:47,160
of y'all. 
We appreciate you. 

1483
01:22:47,160 --> 01:22:49,280
We love you all. 
Thank you. 

1484
01:22:49,280 --> 01:22:51,680
Smash the like button. 
Consider subscribing. 

1485
01:22:52,960 --> 01:22:54,960
I'm going to take out. 
I'm going to take Opti out on a 

1486
01:22:54,960 --> 01:22:58,920
date tonight. 
Pause so I could do a steak. 

1487
01:22:58,920 --> 01:23:01,240
Steak sounds nice. 
I'm going to take out. 

1488
01:23:01,240 --> 01:23:03,640
Sushi. 
We should just go to Benny's 

1489
01:23:03,640 --> 01:23:05,800
bro. 
No, I don't want Benny's bro. 

1490
01:23:05,800 --> 01:23:09,040
Why not? 
Benny's is mid. 

1491
01:23:09,520 --> 01:23:12,120
Benny's is pretty good. 
That's not dude. 

1492
01:23:12,360 --> 01:23:14,440
I'm a classy broad. 
If you're going to Take Me Out 

1493
01:23:14,440 --> 01:23:17,240
to dinner on a date, it's not 
Benihana's. 

1494
01:23:17,240 --> 01:23:19,120
OK, So what steakhouse do you 
want to go to? 

1495
01:23:19,440 --> 01:23:20,520
I don't know if I really want a 
stick. 

1496
01:23:20,520 --> 01:23:22,040
I kind of, I'm kind of craving 
sushi. 

1497
01:23:22,800 --> 01:23:24,560
Want to do sushi? 
We do catanas. 

1498
01:23:25,480 --> 01:23:27,680
That be lit, yeah, but that's 
late. 

1499
01:23:28,080 --> 01:23:30,840
Yeah, it's it is kind of late. 
Let's do the one right here. 

1500
01:23:31,320 --> 01:23:34,960
So I'm hungry anyways. 
Let's let's or actually we, we 

1501
01:23:34,960 --> 01:23:37,280
actually have time. 
I I thought we were, we started 

1502
01:23:37,280 --> 01:23:42,440
early and I thought I had to hit
the meeting right now, but we 

1503
01:23:42,440 --> 01:23:45,600
got like 30 minutes. 
Should we do some one minute 

1504
01:23:45,600 --> 01:23:47,120
charting? 
Should we do some one minute 

1505
01:23:47,120 --> 01:23:50,760
chart? 
Boys, we'll do some one minute 

1506
01:23:50,760 --> 01:23:52,640
charts. 
Just just just, you know. 

1507
01:23:52,680 --> 01:23:54,680
Just end it with that. 
Just to give the people what 

1508
01:23:54,680 --> 01:23:57,440
they want. 
It's not a meme meme Friday. 

1509
01:23:57,440 --> 01:23:59,720
It's a. 
Why don't we do meme Friday bro?

1510
01:24:00,000 --> 01:24:03,280
'Cause I have to prepare a memes
I gotta and also do the memes 

1511
01:24:03,280 --> 01:24:05,280
have been pretty mid. 
Is it? 

1512
01:24:05,280 --> 01:24:09,000
Is the era of memes over? 
Honestly like you guys want 

1513
01:24:09,000 --> 01:24:15,360
memes then make better memes OK?
Bro pizza Pizza Rustica is 

1514
01:24:15,440 --> 01:24:17,680
absolutely terrible. 
That's where like all the 

1515
01:24:17,680 --> 01:24:19,400
tourists go. 
Why would you? 

1516
01:24:19,400 --> 01:24:21,080
Why would you even suggest Jake 
I? 

1517
01:24:21,880 --> 01:24:23,640
Don't even know what that. 
Is you've lost the sauce. 

1518
01:24:23,640 --> 01:24:26,040
But also, it's pizza. 
It's pizza. 

1519
01:24:26,600 --> 01:24:28,920
There's no K in pizza. 
It's pizza. 

1520
01:24:29,040 --> 01:24:31,760
I'm saying it right? 
There's no X, so how do you say 

1521
01:24:31,880 --> 01:24:34,240
it? 
Pizza pizza. 

1522
01:24:34,440 --> 01:24:38,600
You don't say this is SA. 
Pizza. 

1523
01:24:38,960 --> 01:24:45,280
Oh, no, pizza again. 
Yeah, dude, there's no K or X in

1524
01:24:45,280 --> 01:24:46,120
it. 
It's just ZA. 

1525
01:24:46,760 --> 01:24:48,040
You know, you hear people get 
the ZA. 

1526
01:24:48,240 --> 01:24:51,040
Look at the comments. 
So Opti says Sophie's cooking 

1527
01:24:51,040 --> 01:24:53,400
sucks. 
No, that's not what I said, that

1528
01:24:53,560 --> 01:24:55,680
she's actually an incredible 
chef, all right? 

1529
01:24:55,680 --> 01:24:57,960
She's actually a very good chef,
for the record. 

1530
01:24:59,480 --> 01:25:02,160
Everything that she cooks I 
usually eat. 

1531
01:25:02,160 --> 01:25:05,640
But this morning my stomach 
wasn't feeling good and I took a

1532
01:25:05,640 --> 01:25:07,280
couple of bites and I was like, 
wow. 

1533
01:25:07,320 --> 01:25:08,920
So you're telling my wife's 
cooking no? 

1534
01:25:08,920 --> 01:25:11,240
It wasn't how it wasn't that it 
was. 

1535
01:25:11,480 --> 01:25:14,040
It was all of the syrup on the 
pancakes this morning. 

1536
01:25:14,040 --> 01:25:17,440
You know where you make your 
stomach feel better, Benihanas? 

1537
01:25:17,520 --> 01:25:23,320
No. 
All right, pull up the one 

1538
01:25:23,320 --> 01:25:24,960
minute charts, bro. 
What? 

1539
01:25:24,960 --> 01:25:26,920
No, it's just a troll. 
It's a troll. 

1540
01:25:26,920 --> 01:25:29,640
It's why why don't you want to 
watch? 

1541
01:25:29,640 --> 01:25:30,640
Why one? 
Minute. 

1542
01:25:31,080 --> 01:25:33,800
Because it's just fun. 
It's just fun to look at. 

1543
01:25:33,800 --> 01:25:35,160
Let's pull it up. 
All right. 

1544
01:25:35,160 --> 01:25:37,120
What are we looking at? 
The one minute chart, it's 

1545
01:25:37,120 --> 01:25:41,480
bullish. 
So this isn't like a day or 

1546
01:25:41,480 --> 01:25:42,720
whatever this. 
Is this is? 

1547
01:25:42,760 --> 01:25:49,440
Like a one minute price action. 
Yeah, this is like. 12 hours or 

1548
01:25:49,440 --> 01:25:50,600
something like that. 
OK. 

1549
01:25:51,240 --> 01:25:52,400
All right. 
But it's just fun. 

1550
01:25:52,680 --> 01:25:53,760
What's your TA? 
Saying. 

1551
01:25:54,720 --> 01:25:58,560
My TA say is saying that the one
minute chart is crashing and you

1552
01:25:58,560 --> 01:26:00,240
should short it with your whole 
stack. 

1553
01:26:01,840 --> 01:26:03,080
No, don't do that. 
Don't do that. 

1554
01:26:04,520 --> 01:26:05,600
Don't do that. 
Don't do that. 

1555
01:26:05,680 --> 01:26:08,680
That's not financial advice. 
That is, that was a joke. 

1556
01:26:08,760 --> 01:26:09,560
I'm sorry. 
Bad joke. 

1557
01:26:09,560 --> 01:26:11,320
Bad. 
Joke that's just Opti trolling, 

1558
01:26:11,760 --> 01:26:13,720
but I do want to give a shout 
out. 

1559
01:26:13,960 --> 01:26:15,240
Foxy gets it. 
We're due, you know. 

1560
01:26:15,560 --> 01:26:17,520
What we're doing, we're going to
give away some Sats. 

1561
01:26:17,520 --> 01:26:21,160
If you guys have made it to the 
end of the show, I'm going to 

1562
01:26:21,160 --> 01:26:25,160
give away some Sats right now or
I also want to give a shout out 

1563
01:26:25,160 --> 01:26:29,200
to our sponsor as well. 
But hold on, let me give away 

1564
01:26:29,200 --> 01:26:31,840
some Sats first. 
Get your Lightning wallets 

1565
01:26:31,840 --> 01:26:34,120
ready. 
Yes, get your Lightning wallets 

1566
01:26:34,120 --> 01:26:36,800
ready. 
Why is this not? 

1567
01:26:37,520 --> 01:26:39,400
Or maybe not. 
Maybe we're getting rug pulled. 

1568
01:26:39,400 --> 01:26:41,160
No. 
No, no, I'm waiting for the 

1569
01:26:41,160 --> 01:26:43,440
e-mail. 
Oh, hey, there it is. 

1570
01:26:44,520 --> 01:26:47,560
OK, so get your Lightning 
wallets ready. 

1571
01:26:47,560 --> 01:26:50,080
We're going to be giving away 
from some Sats from our friends 

1572
01:26:50,080 --> 01:26:53,400
over at OH, it didn't work. 
Why didn't it work? 

1573
01:26:56,800 --> 01:27:04,000
Let's try that one more time. 
No, OK, 

1574
01:27:14,830 --> 01:27:16,550
we're going to try to give away 
some sats. 

1575
01:27:17,110 --> 01:27:21,070
We're in the process of giving 
away some sats, but it's taking 

1576
01:27:21,070 --> 01:27:24,750
longer than usual. 
There it is. 

1577
01:27:24,750 --> 01:27:27,670
Let's try that one more time. 
Let's see if it works. 

1578
01:27:28,120 --> 01:27:30,520
Oh, it worked. 
Fantastic. 

1579
01:27:32,520 --> 01:27:36,680
OK, all right, now it's time to 
give away some sats because you 

1580
01:27:36,680 --> 01:27:39,040
guys have stuck around. 
We appreciate it. 

1581
01:27:39,520 --> 01:27:44,560
So every time you buy Bitcoin on
Bitcoin Well, you earn Bitcoin 

1582
01:27:44,560 --> 01:27:46,840
well points. 
And you could use those points 

1583
01:27:46,840 --> 01:27:48,800
towards a bunch of different 
prizes. 

1584
01:27:49,640 --> 01:27:54,360
If you if you earn 69,000,000 
points, you can literally Adam 

1585
01:27:54,360 --> 01:27:57,680
O'Brien, the CEO of Bitcoin Well
will personally deliver to you 

1586
01:27:57,800 --> 01:28:02,560
an orange cyber truck. 
But if you get 12,000 points, 

1587
01:28:02,560 --> 01:28:06,040
you can get a stamp seed plate. 
If you get 30,000 points, you 

1588
01:28:06,040 --> 01:28:09,040
get a Bitcoin Nutrition hoodie. 
If you get a bid ax. 

1589
01:28:09,160 --> 01:28:11,440
If you get 53,000 points, you 
get a bid ax. 

1590
01:28:12,040 --> 01:28:15,640
If you get 43,000 points, you 
get a leather mint wallet. 

1591
01:28:15,800 --> 01:28:19,280
However, you can also use those 
points towards the Bitcoin 

1592
01:28:19,280 --> 01:28:22,480
wishing well contest. 
So we're going to play that for 

1593
01:28:22,480 --> 01:28:25,840
you guys live right now. 
Here are the odds by the way, so

1594
01:28:25,840 --> 01:28:30,120
19 and 20. 
You went up to 2099 sats, one in

1595
01:28:30,120 --> 01:28:36,440
20 wins, up to between 2100 to 
21,000 sats, one in 600 wins, 

1596
01:28:36,560 --> 01:28:43,680
21,000 to 210,000 sats, one in 
4000 wins up to 500,000 sats, 

1597
01:28:43,960 --> 01:28:48,600
and one in 10,000 wins up to 
1,000,000 sats. 

1598
01:28:48,600 --> 01:28:50,840
That's right. 
You can, it's like $1000 I 

1599
01:28:50,840 --> 01:28:52,360
think, right? 
A little bit less than that. 

1600
01:28:53,000 --> 01:28:55,800
So we're going to be playing the
Bitcoin wishing well contest 

1601
01:28:55,800 --> 01:28:58,920
live for you guys on air. 
Get your Lightning wallets 

1602
01:28:58,920 --> 01:29:00,760
ready. 
We're going to toss a coin into 

1603
01:29:00,760 --> 01:29:02,440
the wishing well. 
It's being tossed into the 

1604
01:29:02,440 --> 01:29:06,720
wishing well right now. 
And first person to scan the QR 

1605
01:29:06,720 --> 01:29:08,120
code. 
You might. 

1606
01:29:08,120 --> 01:29:10,840
You might need to zoom. 
In a little bit. 

1607
01:29:11,000 --> 01:29:15,240
Has won 210 sats. 
So if you scan the QR code right

1608
01:29:15,240 --> 01:29:19,440
now you have won 210 sats. 
You got to get your Lightning 

1609
01:29:19,440 --> 01:29:25,960
wallet out, scan the QR code and
you get some sats. 

1610
01:29:26,040 --> 01:29:29,240
And you got to do it before Opti
does it because. 

1611
01:29:29,320 --> 01:29:33,560
No, I I wasn't. 
I wasn't going to do that well 

1612
01:29:33,560 --> 01:29:36,920
if it's a million sets, I do 
have a 32nd head start on. 

1613
01:29:39,640 --> 01:29:43,480
That I also want to give a shout
out to our sponsor, to our 

1614
01:29:43,480 --> 01:29:47,360
sponsor as well. 
Bitcoin 2026 guys is going to be

1615
01:29:47,360 --> 01:29:49,600
the largest Bitcoin conference 
in the world. 

1616
01:29:49,880 --> 01:29:52,520
It's literally coming up less 
than 10 days. 

1617
01:29:53,280 --> 01:29:57,080
If you use promo code simply you
got 10% off your tickets. 

1618
01:29:57,440 --> 01:30:03,120
It's April 27th through the 29th
at the Venetian Hotel in Las 

1619
01:30:03,120 --> 01:30:05,520
Vegas, NV. 
You don't want to miss it. 

1620
01:30:05,560 --> 01:30:12,080
Bitcoin 2026 Las Vegas, NV April
27th through the 29th. 

1621
01:30:12,400 --> 01:30:14,800
Simply Bitcoin will be there. 
We'll have a booth. 

1622
01:30:14,840 --> 01:30:17,040
It'll be great. 
Hope to see you guys in person. 

1623
01:30:17,040 --> 01:30:18,720
I'm going to be bringing some 
merch with me. 

1624
01:30:19,040 --> 01:30:23,480
So you're not going to want to 
miss Bitcoin 2026, the largest 

1625
01:30:23,480 --> 01:30:28,760
Bitcoin conference in the world,
April 27th through the 29th in 

1626
01:30:28,800 --> 01:30:32,080
Las Vegas, NV at the Venetian 
Hotel. 

1627
01:30:32,960 --> 01:30:35,120
You want to do that cool kind of
fadeaway thing? 

1628
01:30:37,680 --> 01:30:39,280
I forgot how to do it. 
Oh yeah. 

1629
01:30:39,280 --> 01:30:41,000
Here. 
All right, all right, I'm ready.

1630
01:30:41,000 --> 01:30:43,280
I'm ready now. 
Now do it and, and All right 

1631
01:30:43,280 --> 01:30:44,400
guys, thank. 
You so much for tuning in. 

1632
01:30:44,400 --> 01:30:46,200
If you guys like the show, smash
the like button, consider 

1633
01:30:46,200 --> 01:30:48,360
subscribing and we'll see you 
guys on the next one. 

1634
01:30:53,000 --> 01:30:56,400
Today's episode was brought to 
you by bitcoinwell.com, a 

1635
01:30:56,400 --> 01:30:59,520
Bitcoin only platform on a 
mission to enable financial 

1636
01:30:59,520 --> 01:31:00,360
independence.