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Welcome back to The Mining Pod! Today, Colin and Matt talk about two massive hyperscaler deals that have upped the expectations for AI-pivots. Cipher Mining just secured a $5.5B, 15-year lease with Amazon Web Services for 300MW at their Bear Lake facility, while IREN signed a $9.7B, 5-year deal with Microsoft for 200MW in Texas. We also cover highlights from public miner Q3 earnings that have trickled through so far, a bitcoin miner lawsuit that involves OpenAI, and why Warren Buffett's Pacific Power’s loss with Amazon is a win for bitcoin miners. Plus: Will China win the AI race? Nvidia’s CEO thinks yes.
Notes:
• AI runway better than mining for miners
• IREN Microsoft deal is a win for powershell model thesis
• AI business lines give miners better access to capital
• Miners with exposure but no deals on the table could offer interesting opportunities
• Mining in the U.S. not done yet
• Cipher signs $5.5B AWS deal for 300MW facility
• IREN inks $9.7B Microsoft cloud compute agreement
• Hash price crashes to $40 per petahash per day
• Bitcoin retraced from $126K to $101K support
• Cipher announces 1GW data center JV project
• Pacific Power fails to deliver Amazon capacity
Timestamps:
00:00 Start
02:00 Difficulty Report by Luxor
05:05 Cipher Amazon deal
08:02 IREN Microsoft deal
13:56 Cleanspark Ad
14:25 Q3 earnings update
14:38 RIOT
14:54 MARA
15:34 HUT 8
16:08 CIPHER
18:23 CORZ workers comp lawsuit
21:08 China winning AI race?
26:31 Cry Corner: Buffett can’t MW
