Highly competitive mining economics mean we acquire Bitcoin at well below market value. We have conviction that Bitcoin is early on its adoption curve, with the potential to replace multiple elements of the existing financial system and act as the best long term store of value. This means we HODL our mined coins, exposing our business to asymmetric growth potential as bitcoin adoption continues. Our balance sheet will consist of an asset with declining issuance, that is becoming increasingly expensive to mine, with the security to act as reliable loan collateral. This approach will best set up our business for growth, maximise returns for our investors and ensure we are a secure well capitalised business into the long term.

We have deployments live in the US and are targeting further pipeline additions in the US/Europe/Africa

The bitcoin algorithm doesn’t care where your energy comes from but we do. We operate in an energy hungry industry which is innovating rapidly but growing even faster. Given the energy footprint will continue expanding, the onus is on miners to drive forward technologies and business models that reduce their environmental impact and benefit wider society. Miners can be:

Deliberate in choosing energy from renewable source

Responsible for using energy in the most efficient way possible

Innovative in finding new ways to do both of these things.

We are partnering with pioneers in the space to find solutions that’ll be used far beyond crypto mining alone. Responsible ethos is leading us to explore stranded renewable energy, demand response, off-grid clean energy, immersion cooled compute and reusing waste heat in existing industrial processes. We believe prioritising responsible mining will lead us to an operating model that others will want to follow regardless of their ethos.

Bitcoin mining is able to profitably utilise energy in almost any location, at any scale and at any time. Local energy supply is turned into a globally traded commodity. This removes the need for a fixed power draw, at set times, in certain locations. It provides the key to solving a number of energy problems. Driven by darwinian economics of the bitcoin algorithm miners are forced to seek the lowest cost opportunities. This has led miners to find curtailed renewable energy, revitalise retired hydro assets and bioremediate old fossil fuel sites. As the industry grows established miners will partner with renewable energy developers to accelerate renewable roll out on and off-grid. Ultimately we believe energy is the lifeblood of modern society. A world with abundant green energy catalyses human flourishing via every technological breakthrough you can imagine. The faster we get there the greater the benefit for humans and the planet. It’s clear that wasting energy we create, delaying clean projects and retiring functional renewable sites isn’t how we’re going to get there. Proof of work mining should be one of the tools that helps us get there.