Welcome back to The Mining Pod! For this week’s Bitcoin Stock Show, we’re joined by a great friend of the show, Pennyether. Some of y’all might recognize Penny from a couple of the earnings calls we streamed on The Bitcoin Stock Show earlier this year. He’s one of the most insightful independent bitcoin mining stock analysts in the game, and in this episode, he shares his methodology for valuing bitcoin miners, which metrics he finds the most (and least) useful, and his thoughts on the AI boom in mining.
Timestamps:
00:00 Start
03:53 The mining metrics that matter
10:33 More important metrics
19:24 Valuing AI and miners together
26:55 A note on Bitfarms
28:32 What does the market actually care about?
33:10 Thoughts on convertible debt
36:55 How to hedge convertible notes
45:31 Bigger narratives in mining
48:10 The future of bitcoin mining and data centers
52:55 What metrics aren’t worthwhile?
43:02 What does 2025 look like?
Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!
