WEBVTT NOTE This file was generated by Descript 00:00:04.747 --> 00:00:06.877 Man, I'm glad we got, we could get you on here. 00:00:06.877 --> 00:00:10.977 Um, especially somebody, you know, running a company like Phoenix and thank you. 00:00:11.067 --> 00:00:11.877 Uh, appreciate it. 00:00:11.967 --> 00:00:12.537 Yeah, man. 00:00:12.537 --> 00:00:15.737 It's like, wow, we're getting like, I had Christian Lopez on here 00:00:15.737 --> 00:00:17.017 last and now I get you on here. 00:00:17.027 --> 00:00:20.697 It's like, man, we're getting some legit guys going now. 00:00:20.697 --> 00:00:21.997 So it's awesome, man. 00:00:22.492 --> 00:00:23.612 But, uh, yeah, welcome. 00:00:24.012 --> 00:00:24.432 Thank you. 00:00:24.482 --> 00:00:26.872 I'm, I'm happy to be here, to be honest. 00:00:27.262 --> 00:00:28.612 You're here for the conference, right? 00:00:28.862 --> 00:00:30.472 I'm here for the conference. 00:00:30.492 --> 00:00:31.752 Uh, not just a conference. 00:00:31.752 --> 00:00:36.792 It's kind of a trip I'm taking started from Canada, our site up in St. 00:00:36.792 --> 00:00:40.432 Leon, and then down to North Dakota, we got a site there. 00:00:40.432 --> 00:00:44.802 And then of course, these two days to be here in Dallas, it's a place to be. 00:00:44.892 --> 00:00:45.692 Right, right. 00:00:45.732 --> 00:00:46.342 I agree. 00:00:46.392 --> 00:00:49.052 And the conference, I haven't even got a set foot in. 00:00:49.557 --> 00:00:53.047 But I heard it looks pretty good and it sounds like it's packed. 00:00:53.797 --> 00:00:56.397 Yeah, a lot, a lot of good people from the industry. 00:00:56.407 --> 00:01:01.577 It's, it's a good one because it's very focused on people from the industry. 00:01:02.097 --> 00:01:03.497 Not just only miners. 00:01:03.497 --> 00:01:07.277 I can see a lot of things that actually from the finance side of the crypto, 00:01:08.597 --> 00:01:14.197 Lenders, so it's, it's more focused on, on that vertical of the business also 00:01:14.207 --> 00:01:19.477 providing a liquidity, the kind of stuff that you don't see in all the conferences. 00:01:19.537 --> 00:01:22.237 I was going to say that's a little bit different than a lot of the other 00:01:22.237 --> 00:01:25.777 conferences we see, which I'm not dogging, I'm going to have a good time, 00:01:25.777 --> 00:01:30.567 but a lot of them are kind of more like a, it's almost like a pep rally instead 00:01:30.567 --> 00:01:35.527 of, you know what I mean, instead of like a business, uh, meeting or event. 00:01:35.537 --> 00:01:35.807 But. 00:01:36.302 --> 00:01:41.202 Yeah, no, it's I think the whole industry right now because of obviously the 00:01:41.202 --> 00:01:45.842 price jump Everybody's realizing but the chatter and the talk around it being 00:01:45.842 --> 00:01:54.272 so focused on like the The political headwinds being behind us instead of in 00:01:54.272 --> 00:01:56.262 front of us now for the first time ever. 00:01:56.332 --> 00:02:00.922 And I think it's just created a lot of excitement from large 00:02:00.962 --> 00:02:06.132 institutional type type players and also from the government angle. 00:02:06.132 --> 00:02:07.002 I think that's a huge deal. 00:02:07.482 --> 00:02:08.782 And you're from Dubai. 00:02:08.872 --> 00:02:09.812 You live in Dubai. 00:02:10.242 --> 00:02:14.662 Um, and I think I'm, I see the different things in the Middle East, 00:02:14.672 --> 00:02:19.352 but they seem to be Ahead of the curve a lot, I feel like they're 00:02:19.352 --> 00:02:24.652 much more aggressively embracing like crypto Bitcoin in particular. 00:02:25.072 --> 00:02:27.092 Um, and it's just, it's. 00:02:27.822 --> 00:02:29.052 It's exciting to see. 00:02:29.052 --> 00:02:32.692 I was in Dubai in February 22, actually it was the first time I'd ever been 00:02:32.692 --> 00:02:36.642 in the Middle East and, um, first of all, Dubai is freaking crazy. 00:02:36.642 --> 00:02:38.862 It felt like I was in like a virtual reality or something. 00:02:38.912 --> 00:02:39.762 It was wild, dude. 00:02:39.832 --> 00:02:41.227 There was no trash on the ground. 00:02:41.227 --> 00:02:43.922 Everybody's saying the same thing these days about it, to be honest, yeah. 00:02:43.992 --> 00:02:44.852 It's crazy. 00:02:44.882 --> 00:02:45.792 It's crazy. 00:02:45.912 --> 00:02:48.742 The pace of progress is, it's very unique. 00:02:48.782 --> 00:02:52.382 It feels Lights man, they are moving. 00:02:52.522 --> 00:02:53.112 You know what I mean? 00:02:53.122 --> 00:02:59.442 It just I left there and I don't say this in an unpatriotic Way, but like 00:02:59.922 --> 00:03:02.632 there's been a lot of things over the last few years where i'm like, man 00:03:02.632 --> 00:03:07.482 We're in decline like big time and then I go to a place there and i'm 00:03:07.482 --> 00:03:12.002 like I felt the exact opposite I was like These guys are ramping up big time 00:03:12.042 --> 00:03:17.982 and there's a lot of like opportunity and capital available, it felt like. 00:03:17.982 --> 00:03:22.892 And it just, it was really freaking crazy to see them building 00:03:22.892 --> 00:03:24.162 islands and stuff out there. 00:03:24.162 --> 00:03:26.732 I'm like, I've never seen anything like it. 00:03:26.742 --> 00:03:30.852 So I liked being there and now I want to go back. 00:03:30.862 --> 00:03:33.232 Cause you told me what a really cool event that I'm going 00:03:33.232 --> 00:03:34.522 to go make sure I'm part of. 00:03:34.532 --> 00:03:39.232 But, um, but it's just, it's nice to see now the U S kind 00:03:39.232 --> 00:03:40.792 of embracing seeing more of a. 00:03:41.207 --> 00:03:47.837 Pro, um, you know, Bitcoin development and Bitcoin mining and Bitcoin, uh, 00:03:47.847 --> 00:03:53.987 strategic reserve type, all those things are such new, good things for our 00:03:53.987 --> 00:03:58.407 whole industry that like, I feel just emboldened because I've made it through 00:03:58.407 --> 00:04:01.172 the bear market and now I get to start reaping the benefits of one of these. 00:04:01.602 --> 00:04:04.372 You know, bull runs for the first time all of us are looking for 00:04:04.442 --> 00:04:10.592 well, you know in ua in general Since let's say last 20 25 years. 00:04:11.092 --> 00:04:16.537 I think what happened was that In general, the priorities were set 00:04:16.957 --> 00:04:22.567 and everybody was very focused into building and making sure from, this 00:04:22.567 --> 00:04:28.317 is the goal from point A to point B, and we're going to need A, B, C, D. 00:04:28.347 --> 00:04:32.527 One of them definitely is going to be technology, being technology driven. 00:04:32.527 --> 00:04:36.137 So a country out of Middle East wants to advance. 00:04:36.817 --> 00:04:40.487 And try to get into the standards of best countries in the world. 00:04:40.797 --> 00:04:43.847 So the main thing that was needed was the goal. 00:04:43.877 --> 00:04:48.527 And then in order to reach those goals, one of the main, uh, I 00:04:48.527 --> 00:04:50.577 would say apparatus was technology. 00:04:50.617 --> 00:04:55.867 And crypto, uh, This started a couple of years back when, uh. 00:04:56.557 --> 00:05:00.647 Uh, the leadership did a company in a country in Abu Dhabi decided to establish 00:05:00.647 --> 00:05:05.147 like the biggest crypto mining farm at that time, probably in the world or 00:05:05.147 --> 00:05:10.847 one, maybe top three, that that thing was all behind the same notion of that. 00:05:11.077 --> 00:05:12.287 It's a technology. 00:05:12.757 --> 00:05:16.737 If you want to get ahead of everybody else, we have to make sure we adapted. 00:05:16.737 --> 00:05:17.747 We have to make sure. 00:05:18.137 --> 00:05:18.937 We work with it. 00:05:18.947 --> 00:05:20.947 We have to understand how it works. 00:05:21.457 --> 00:05:25.107 And it's always been with UAE, Abu Dhabi and Dubai. 00:05:25.117 --> 00:05:29.597 It's always been like, okay, a new technology comes and still you see it. 00:05:29.807 --> 00:05:32.507 If it's a flying taxi, okay, let's do it. 00:05:32.507 --> 00:05:34.567 If it's a hyperloop, let's do it. 00:05:35.267 --> 00:05:39.357 So the whole country and the government over there is more focused 00:05:39.447 --> 00:05:46.337 in, in basically the progress and, um, the economy of the country. 00:05:46.687 --> 00:05:52.657 Those, those are the things that dictates the policies when they want to come. 00:05:52.667 --> 00:05:57.337 When a country and its leadership is very focused on top three, four 00:05:57.337 --> 00:06:00.507 things, um, you get a good result. 00:06:00.507 --> 00:06:01.847 So it's about security. 00:06:02.077 --> 00:06:05.047 I still don't lock my house in Dubai. 00:06:05.057 --> 00:06:06.087 I still don't do it. 00:06:06.407 --> 00:06:08.747 I would, that means even probably safer by many. 00:06:09.317 --> 00:06:12.427 Uh, factors you, you check on the Instagram or anywhere top 00:06:12.497 --> 00:06:14.977 10, uh, safe cities in the world. 00:06:15.387 --> 00:06:18.687 So these are the amazing, so the security, it's one of the things, cause 00:06:19.147 --> 00:06:24.057 I always have this things like money and capital is like, it's like water. 00:06:24.397 --> 00:06:26.997 It always goes where it's comfortable. 00:06:27.187 --> 00:06:28.627 So that's thing security. 00:06:28.627 --> 00:06:30.077 That's, they're amazing. 00:06:30.337 --> 00:06:30.947 Top notch. 00:06:31.327 --> 00:06:31.947 And they're. 00:06:32.257 --> 00:06:37.507 Adaptation, the pace of adaptation, uh, crypto mining facility 00:06:37.507 --> 00:06:38.857 in Abu Dhabi is one of it. 00:06:38.947 --> 00:06:43.507 You'll see M two before any of these big, other, other big exchanges 00:06:43.507 --> 00:06:46.817 come to UAE where we started M two. 00:06:47.117 --> 00:06:52.037 And so the government is very, very progressive and they want 00:06:52.037 --> 00:06:55.457 to make sure that whatever is technology out there, UUA e gets it. 00:06:55.577 --> 00:06:58.397 Uua e gets it fast, and we saw it in Covid also. 00:06:58.932 --> 00:07:03.932 This, this is the notion behind the leadership and what you're trying to do. 00:07:03.932 --> 00:07:06.362 And this, this helps us a lot. 00:07:06.922 --> 00:07:12.632 And this helps us to be in an environment that the government 00:07:12.662 --> 00:07:14.862 and the leadership, they're very. 00:07:15.387 --> 00:07:20.887 Now pro technology pro crypto and welcome new technologies. 00:07:21.257 --> 00:07:24.467 So that's a very big add on for us being there. 00:07:24.587 --> 00:07:28.677 I think anybody who's been there probably would be like everybody 00:07:28.677 --> 00:07:30.077 I've talked to who's ever been there. 00:07:30.117 --> 00:07:34.677 And when I tell them kind of my experience, everybody's on the same page. 00:07:34.677 --> 00:07:36.157 It's just, it's remarkable. 00:07:36.207 --> 00:07:36.977 And it is a. 00:07:37.482 --> 00:07:41.782 It's kind of a tribute to what a government can do when, like you 00:07:41.782 --> 00:07:44.402 said, they got kind of the right goals and the right things in 00:07:44.402 --> 00:07:46.092 mind and kind of business focus. 00:07:46.092 --> 00:07:49.112 That's why I'm excited about the Trump administration coming in. 00:07:49.112 --> 00:07:50.652 I don't think the U. 00:07:50.652 --> 00:07:50.822 S. 00:07:50.822 --> 00:07:55.812 has had a business friendly administration like this, maybe ever, not where they 00:07:55.812 --> 00:07:58.792 had House, Senate, and the Presidency. 00:07:59.342 --> 00:08:03.452 So I'm excited just to see what can happen now because I do think it's 00:08:03.452 --> 00:08:08.897 kind of an arms race to, you know, Make sure you have, you know, Bitcoin 00:08:09.027 --> 00:08:15.457 as like your country is situated to be a participant in the worldwide 00:08:15.627 --> 00:08:17.287 kind of economy that Bitcoin creates. 00:08:17.287 --> 00:08:17.617 So. 00:08:18.147 --> 00:08:18.797 I don't know, man. 00:08:18.797 --> 00:08:23.587 I'm, I'm really excited about what's going to be coming, um, over the next 00:08:23.587 --> 00:08:27.677 four years, next two years, especially, but even over the next four years, 00:08:28.097 --> 00:08:33.647 um, I think that there's so much opportunity to, like, grow businesses 00:08:33.647 --> 00:08:38.237 and establish, like, businesses that will go beyond this next administration 00:08:38.507 --> 00:08:41.347 well into the future because of what happens over the next two years. 00:08:42.217 --> 00:08:46.377 In Phoenix, where you run in the shop, um, you guys have been doing 00:08:46.397 --> 00:08:51.067 a lot and, um, I've worked with you guys and yeah, full disclosure, 00:08:51.067 --> 00:08:52.407 I've, I've been your guys counsel. 00:08:52.407 --> 00:08:53.877 I've also done deals with you guys. 00:08:54.337 --> 00:08:56.227 Um, so sure. 00:08:56.227 --> 00:08:57.597 I'm biased a little bit, but. 00:08:58.882 --> 00:09:03.532 And I've told Sarah this, I have not enjoyed doing deals with anybody more 00:09:03.532 --> 00:09:05.152 than I've enjoyed working with you guys. 00:09:05.182 --> 00:09:06.032 I'm glad to hear that. 00:09:06.062 --> 00:09:07.242 I'm dead serious. 00:09:07.282 --> 00:09:15.202 It's, it's been Haroon, uh, Elsa, all the, all the, all the, uh, attorneys over there 00:09:15.202 --> 00:09:17.092 have been the best ones to work with. 00:09:17.512 --> 00:09:20.012 I think i've ever done any work with so appreciate it. 00:09:20.052 --> 00:09:21.762 Um, shout out to you guys, man. 00:09:21.862 --> 00:09:26.092 Um, But all that being said what are your guys? 00:09:26.322 --> 00:09:29.642 Kind of goals now with kind of the bitcoin price ripping. 00:09:29.932 --> 00:09:33.802 Are you guys still looking for acquisitions of sites or companies? 00:09:33.812 --> 00:09:37.042 Or are you looking to maybe develop your pipeline? 00:09:37.402 --> 00:09:41.297 Like deploying capital to just deploy it to building out infrastructure That 00:09:41.307 --> 00:09:43.257 you've already owned a megawatts on. 00:09:43.767 --> 00:09:48.837 Well, you know, um, we already started the strategy after the halving. 00:09:48.867 --> 00:09:50.637 We have, so we have plans. 00:09:51.207 --> 00:09:55.317 Uh, number one, we're going to make sure that those plans that we have in pipeline, 00:09:55.317 --> 00:09:58.997 we have a couple, couple of a hundred megawatts, let's say on the pipeline. 00:09:59.507 --> 00:10:00.977 We're still going to keep developing. 00:10:00.987 --> 00:10:03.277 That's what we're going to do, but we're going to be very sensitive. 00:10:03.322 --> 00:10:07.732 Selective about the sites and the power price and where we're going to be. 00:10:07.762 --> 00:10:08.932 That's number one. 00:10:09.542 --> 00:10:14.822 Um, number two, we're going to, what we have as a mandate from, from our. 00:10:15.252 --> 00:10:19.802 Uh, highest manager management is that we want to work with people 00:10:20.202 --> 00:10:24.392 more in terms of a joint venture, not just because of the profitability 00:10:24.392 --> 00:10:26.602 of it and the finance aspect of it. 00:10:27.122 --> 00:10:30.442 Uh, but also because we want to expand our network and our 00:10:30.442 --> 00:10:32.392 footprint as a listed company. 00:10:32.782 --> 00:10:34.782 Uh, of course we look for growth. 00:10:35.462 --> 00:10:39.322 Uh, but we also want to make sure that any any kind of development that 00:10:39.442 --> 00:10:44.737 we're getting into It's it's one of those that we it can last After the 00:10:44.747 --> 00:10:47.047 whole halving that's coming as well. 00:10:47.427 --> 00:10:50.407 So we kind of want to, it's a, it's a hybrid model. 00:10:50.807 --> 00:10:55.037 Uh, we're not thinking about a lot of acquisitions, to be honest, our other 00:10:55.037 --> 00:11:00.587 wings of the group to working on web three projects lively was just a recent one. 00:11:01.007 --> 00:11:02.097 That got launched. 00:11:02.107 --> 00:11:03.317 It's very successful now. 00:11:03.317 --> 00:11:04.947 The token is doing amazing. 00:11:04.967 --> 00:11:06.247 The platform is doing well. 00:11:06.847 --> 00:11:08.887 And, uh, that's a fitness thing, right? 00:11:08.957 --> 00:11:10.627 Uh, no, not just a fitness thing. 00:11:10.627 --> 00:11:15.147 It's basically, uh, a social media platform for content. 00:11:15.247 --> 00:11:15.497 Yeah. 00:11:15.797 --> 00:11:19.357 Uh, it's getting very popular there because some of the people just got 00:11:19.547 --> 00:11:24.127 tired of what's happening on social and Instagram getting bombarded with 00:11:24.157 --> 00:11:28.507 content that Some of it has no value and just want to get rid of it. 00:11:28.507 --> 00:11:33.377 So that was the web and the web three, um, concept behind it also. 00:11:33.377 --> 00:11:39.357 So, uh, this was, so you can basically the content creators, uh, they get rewarded 00:11:39.597 --> 00:11:41.677 for the content that you're creating. 00:11:42.167 --> 00:11:42.617 So. 00:11:42.857 --> 00:11:48.677 We're going to be very focused in terms of web three and development of projects. 00:11:49.077 --> 00:11:51.527 That's where our development is going to be and maybe 00:11:51.567 --> 00:11:53.667 acquisitions down the line in JV. 00:11:53.667 --> 00:11:57.517 But in terms of the Bitcoin mining side of it that I'm taking care of, 00:11:57.517 --> 00:12:01.537 we're still going to build, we're still, but, but building is not going 00:12:01.537 --> 00:12:05.357 to be like what we saw five, six years ago, everybody was just rushing to it. 00:12:05.707 --> 00:12:06.577 Any power place. 00:12:06.617 --> 00:12:07.387 I want to be there. 00:12:07.397 --> 00:12:12.497 No, we're going to be learned from, uh, from, from past and we want to be focused. 00:12:13.377 --> 00:12:17.667 We're going to be focusing a bit of maybe on the power generation side. 00:12:17.697 --> 00:12:21.997 That's something we're seriously looking at it, uh, to make sure that 00:12:22.047 --> 00:12:25.817 because we want to see what's going to happen down the road in four years. 00:12:25.847 --> 00:12:29.197 So having our own power generation is going to be an advantage 00:12:29.197 --> 00:12:30.057 and we're looking at it. 00:12:31.002 --> 00:12:38.562 Other side is building sites with more efficient, uh, management. 00:12:38.712 --> 00:12:43.132 I think this cycle, the last two years taught everybody in the 00:12:43.132 --> 00:12:45.522 business that you got to be efficient. 00:12:45.632 --> 00:12:50.402 Softwares, controlling your ops, your repair. 00:12:50.642 --> 00:12:55.442 These are just things that five years ago, you wouldn't pay that much attention to. 00:12:55.852 --> 00:12:58.492 I wouldn't care if like two, 3 percent of my. 00:12:58.792 --> 00:13:00.552 Fleet is not working now. 00:13:00.552 --> 00:13:03.732 It's all about these tiny percentage because you want to make sure 00:13:03.732 --> 00:13:05.162 you're better than everybody else. 00:13:05.692 --> 00:13:07.802 So that kind of adaptation. 00:13:08.457 --> 00:13:14.887 To efficiency as something that pushed us right now to work on these things, be 00:13:14.887 --> 00:13:19.107 more efficient in terms of our operations, get rid of, if there is, if you have 00:13:19.107 --> 00:13:24.367 a site that it's not efficient, we're looking at different options, whether 00:13:24.377 --> 00:13:30.347 liquidated or converging to a data center, because that's another game as well. 00:13:30.757 --> 00:13:33.247 So we're, we're kind of focused on that. 00:13:33.247 --> 00:13:36.607 And in our expansion plans, we're looking both in the U. 00:13:36.607 --> 00:13:36.687 S. 00:13:37.292 --> 00:13:42.212 And let's say North America, because Canada seems to be more also becoming 00:13:42.212 --> 00:13:46.712 a bit more lenient about Bitcoin mining as well, and also out of U. 00:13:46.712 --> 00:13:47.082 S. 00:13:47.362 --> 00:13:52.082 Yes, that's one of the things I was going to ask too, is like, um, other than 00:13:52.082 --> 00:13:56.782 your operations in, say, North America, because I know you guys got some in, uh, 00:13:56.997 --> 00:13:59.047 Canada, where are you guys operating? 00:13:59.057 --> 00:14:00.677 You got some in Dubai or? 00:14:00.727 --> 00:14:01.927 We got some in Abu Dhabi. 00:14:01.927 --> 00:14:05.977 So we got a, we got a JV, we got a big site in Abu Dhabi. 00:14:05.977 --> 00:14:08.427 It has a capacity to go to 270. 00:14:08.427 --> 00:14:11.397 It's being operated around at 240 right now. 00:14:11.907 --> 00:14:13.387 So that's one of it. 00:14:13.397 --> 00:14:17.527 And then we got operations in, in, in North America, South 00:14:17.527 --> 00:14:21.067 Carolina, North Dakota is coming on, you know better about it. 00:14:21.067 --> 00:14:25.657 So we're very excited about North Dakota because things are going, we're 00:14:25.677 --> 00:14:27.357 going very smooth there basically. 00:14:27.962 --> 00:14:30.782 We're on track and St. 00:14:30.782 --> 00:14:35.672 Leon in Canada, Manitoba, and things are becoming a bit positive there. 00:14:35.672 --> 00:14:40.692 I think what we see is that what happened in the election was kind 00:14:40.692 --> 00:14:45.962 of a, to us as foreigners, it was like a revolution because we were 00:14:45.962 --> 00:14:49.892 always like, when we were seeing it from outside, we were like, okay, 00:14:50.002 --> 00:14:54.482 superpower, why everything is so slow. 00:14:54.482 --> 00:14:57.262 Everything is so against the businesses. 00:14:58.312 --> 00:15:01.402 You have to be careful about what you say. 00:15:01.402 --> 00:15:08.062 And it, it, it kind of like, it was looking like a derailing and now we're 00:15:08.062 --> 00:15:12.872 so also excited because in Middle East, we're also looking at it from the 00:15:12.882 --> 00:15:14.922 political side, kind of a stability. 00:15:14.922 --> 00:15:16.202 It's good for our business. 00:15:16.622 --> 00:15:23.852 So from, for us, we all saw it as a revolution because it's not just one 00:15:23.852 --> 00:15:25.952 parties out and another one is out. 00:15:26.877 --> 00:15:31.887 We kind of see that it's like people in charge of business is back. 00:15:32.477 --> 00:15:37.447 Uh, capitalism, capitalism is probably back now. 00:15:37.447 --> 00:15:39.407 It things are going to be done. 00:15:39.922 --> 00:15:44.402 Based on how it makes sense financially, not because you want 00:15:44.402 --> 00:15:48.392 to make sure that no one gets hurt. 00:15:48.392 --> 00:15:49.222 Right, right, right. 00:15:49.222 --> 00:15:51.542 So, so things, and that's very good. 00:15:51.542 --> 00:15:52.312 Their feelings hurt. 00:15:52.442 --> 00:15:53.342 Exactly. 00:15:54.482 --> 00:15:55.552 I'm so glad to be getting rid of this. 00:15:55.612 --> 00:15:59.692 I was watching the election night, it was like, it was early morning. 00:15:59.692 --> 00:16:00.032 Yeah. 00:16:00.592 --> 00:16:03.202 And I was like, cause you know, all these pools were saying 00:16:03.202 --> 00:16:05.312 it's a tie it's neck to neck. 00:16:05.442 --> 00:16:07.062 And I was like, okay, let's watch it. 00:16:07.062 --> 00:16:09.482 And I was looking at Virginia. 00:16:09.492 --> 00:16:13.732 I was like, he's, he's only behind like 9%. 00:16:13.782 --> 00:16:18.372 I was like, okay, let's, let's keep tap on this. 00:16:18.372 --> 00:16:18.802 And then. 00:16:19.092 --> 00:16:24.902 Suddenly, all these votes were getting counted and I was like, this seems like 00:16:24.902 --> 00:16:27.282 it's going to be really interesting. 00:16:28.142 --> 00:16:31.912 And we were hoping for any kind of election that it 00:16:31.932 --> 00:16:33.432 wouldn't get into a dispute. 00:16:33.912 --> 00:16:35.732 So this one is undisputed. 00:16:35.782 --> 00:16:35.992 Right. 00:16:36.702 --> 00:16:36.942 Right. 00:16:36.942 --> 00:16:41.232 And now we can see the, the business, the business people are in charge. 00:16:41.922 --> 00:16:47.432 They understand the potential of crypto and the people are that are 00:16:47.432 --> 00:16:52.232 that, that are taking charge, are not taking, taking these positions in 00:16:52.232 --> 00:16:57.272 the government because they need it financially or they have to feel secure. 00:16:57.892 --> 00:17:01.182 They want to make sure that they don't sign this because they might 00:17:01.182 --> 00:17:03.082 not get up the ladder, right? 00:17:03.152 --> 00:17:03.462 Right. 00:17:03.502 --> 00:17:07.482 These are all business peoples that they're there to get things done. 00:17:07.702 --> 00:17:08.432 I know man. 00:17:08.432 --> 00:17:10.232 That's great for crypto, right? 00:17:10.282 --> 00:17:14.282 It is and that's literally that's actually the best way to put it is that 00:17:15.012 --> 00:17:21.532 you look at like the top four cabinet members He's already um Nominated and 00:17:22.102 --> 00:17:26.902 Or going to basically the point, um, they're all big corners, all of them. 00:17:27.072 --> 00:17:28.932 And like big time one. 00:17:28.932 --> 00:17:34.152 So I know it's like, yeah, man, we, this, and I'm sure it was exciting for 00:17:34.152 --> 00:17:37.752 you guys too, but like, if you think about it, think of how you would feel 00:17:37.752 --> 00:17:42.152 if your government was actively like talking about how to eliminate you, 00:17:42.212 --> 00:17:43.922 you know, and what you do for a living. 00:17:43.922 --> 00:17:47.912 It's like, man, the way I know myself and like Jake and a lot of 00:17:47.912 --> 00:17:50.272 my buddies are in the industry here. 00:17:51.417 --> 00:17:55.197 I haven't felt this way in a long time where I'm just like excited 00:17:55.197 --> 00:17:59.467 about, you know, the future because I don't have to worry about, you know, 00:17:59.467 --> 00:18:02.877 the constant barrage of legislation that is trying to put a hamper on. 00:18:03.302 --> 00:18:04.492 Aren't you being able to make a living? 00:18:04.492 --> 00:18:07.532 It's like, man, this is super, super exciting. 00:18:07.532 --> 00:18:11.182 So remember that 30 percent tax on energy that we're talking about? 00:18:11.222 --> 00:18:11.492 Oh my God. 00:18:11.492 --> 00:18:12.362 Absurd. 00:18:12.362 --> 00:18:12.892 Absurd. 00:18:12.902 --> 00:18:16.492 When that was out there, I was like, okay, as a Bitcoin miner, 50 to 00:18:16.492 --> 00:18:19.372 58 percent of my cost is my power. 00:18:19.412 --> 00:18:19.682 Right. 00:18:19.692 --> 00:18:22.002 So you're going to take another 30 on top. 00:18:22.002 --> 00:18:23.832 I'm going to be with 86%. 00:18:24.032 --> 00:18:26.272 So are you telling me I'm going to make 14%? 00:18:26.282 --> 00:18:26.752 Right. 00:18:26.752 --> 00:18:29.912 You can't do that. 00:18:29.982 --> 00:18:30.562 You know what I mean? 00:18:30.562 --> 00:18:32.392 The, the, the, the business. 00:18:32.932 --> 00:18:34.682 That's a, that's a business killer. 00:18:34.682 --> 00:18:38.642 So I'm just, yeah, it's a huge relief to get that stuff out of the way. 00:18:38.642 --> 00:18:42.152 And, and, uh, be able to now kind of focus on, on building. 00:18:42.152 --> 00:18:45.112 And that's, yeah, that's where I think there's going to be tremendous 00:18:45.112 --> 00:18:46.912 growth in the next three, four years. 00:18:46.942 --> 00:18:49.792 But, um, what about on the AI side? 00:18:49.802 --> 00:18:53.642 Like you guys, I mean, you guys have some obviously serious back 00:18:53.812 --> 00:18:55.542 and I think you guys are probably. 00:18:56.467 --> 00:18:59.847 Like if I wanted a counterparty, first person I'm going to call is you 00:18:59.847 --> 00:19:02.167 guys, because you can execute on it. 00:19:02.327 --> 00:19:05.937 But in the AI world, this obviously is very, very expensive to build. 00:19:06.317 --> 00:19:10.032 Are you guys looking to Get into that game more. 00:19:10.032 --> 00:19:14.322 Do you have some going already or like, we're right now on a technical aspect 00:19:14.322 --> 00:19:16.032 of it, we're, we're looking at it. 00:19:16.902 --> 00:19:19.092 Mm-hmm . Because it's, it needs a lot of capital. 00:19:19.122 --> 00:19:25.272 'cause I remember months ago, per megawatt of a Bitcoin mining cost would be 1.3 and 00:19:25.752 --> 00:19:27.942 on a data center would be probably seven. 00:19:27.942 --> 00:19:33.792 Then suddenly on a, on a ai, it could get up to even 40, including the cards. 00:19:34.212 --> 00:19:36.283 So, uh, it's, it's so crazy, isn't it? 00:19:36.288 --> 00:19:38.172 It's socra, it's, it needs a lot of capital. 00:19:39.417 --> 00:19:41.897 What we're looking at right now, we're looking at it. 00:19:42.847 --> 00:19:47.967 Um, of course, this is something that has to come from our main shareholders 00:19:47.977 --> 00:19:49.617 in Abu Dhabi and our principal. 00:19:50.007 --> 00:19:53.617 And if we get a mandate on it, we work on it more, but we're 00:19:53.617 --> 00:19:55.337 kind of doing in study right now. 00:19:55.347 --> 00:19:58.397 One of the studies, for example, we're trying to do in. 00:19:58.927 --> 00:20:03.897 It's at 90 percent is that we're trying to design, which is not an easy thing to do. 00:20:05.007 --> 00:20:09.597 Uh, a base, a project, basically a from power generation all the way 00:20:09.927 --> 00:20:14.937 to the downstream of, of an Bitcoin mining that would minimum cost. 00:20:15.562 --> 00:20:19.102 You can convert it into a data center. 00:20:19.302 --> 00:20:22.872 Now on the AI side, it's going to be a bit difficult because you need the buildings. 00:20:23.312 --> 00:20:28.052 It's kind of something required on the other, uh, HPCs and other data centers. 00:20:28.052 --> 00:20:29.702 You can still go with containers. 00:20:29.702 --> 00:20:32.592 A lot of, a lot of companies are coming with, uh, coming out 00:20:32.602 --> 00:20:34.042 or coming up with solutions. 00:20:34.572 --> 00:20:35.519 So we're working on that. 00:20:35.519 --> 00:20:42.232 But on the main thing on AI, uh, we see it's very much capital driven on 00:20:42.242 --> 00:20:44.612 the technicalities of how to do it. 00:20:45.337 --> 00:20:49.557 We're looking at it, but right now we don't have anything on mandate to go 00:20:49.557 --> 00:20:54.417 and do right away, purchase it because we think we have to, we have to find 00:20:54.427 --> 00:20:57.307 the right spot we're working right now. 00:20:57.347 --> 00:20:59.187 We're another with another group. 00:20:59.657 --> 00:21:03.697 To develop, uh, to develop, uh, a big sites. 00:21:03.917 --> 00:21:06.517 I cannot go into all the details of it right now. 00:21:06.517 --> 00:21:10.137 So yes, we're looking at it, but in terms of execution, we're looking 00:21:10.147 --> 00:21:14.767 at something probably down the line in six, three, six months to a year. 00:21:14.767 --> 00:21:15.137 Yes. 00:21:15.437 --> 00:21:15.707 Yeah. 00:21:16.872 --> 00:21:19.282 You'd primarily still be like a Bitcoin miner. 00:21:19.422 --> 00:21:24.952 Yes, we're gonna stay and be a bitcoin, but what we have done Since the halving 00:21:25.562 --> 00:21:31.742 every every company basically took took some initiative To diversify 00:21:31.742 --> 00:21:33.892 some went to data centers HPC. 00:21:33.892 --> 00:21:38.307 One of the things we did we We didn't pivot from Bitcoin mining, so we 00:21:38.307 --> 00:21:44.187 stayed as a Bitcoin miner, but we started, uh, other things that were, 00:21:44.787 --> 00:21:49.117 uh, when you look at it, they're more profitable in terms of profitability. 00:21:49.187 --> 00:21:53.787 One would be M2, the exchange, centralized exchange. 00:21:54.147 --> 00:21:56.457 Others would be the Web3 projects. 00:21:57.497 --> 00:22:01.087 Because we can see they're more profitable than because when you look at, for 00:22:01.087 --> 00:22:06.287 example, the web three projects and the tokenization of assets or tokenization of 00:22:06.287 --> 00:22:08.817 projects, the world is different there. 00:22:08.827 --> 00:22:13.907 You're looking at three X, four X, five X, six X in our world in Bitcoin 00:22:13.927 --> 00:22:16.197 mining, we're looking at, okay. 00:22:16.592 --> 00:22:20.082 There are different ways to look at how you get, how you 00:22:20.082 --> 00:22:21.912 calculate the profitability of it. 00:22:22.242 --> 00:22:28.042 But these days you're looking at 30, 40%, you do better, you do worse. 00:22:28.042 --> 00:22:33.522 You might go down to twenties, but the finance world of crypto, 00:22:33.562 --> 00:22:38.662 it's, it starts with X, it's like 2X, 3X, it's totally different. 00:22:38.662 --> 00:22:41.062 So we, we made sure we're, we're there also. 00:22:41.572 --> 00:22:44.092 So is that a lot of software developing and or what? 00:22:44.932 --> 00:22:46.512 Coding and just building out. 00:22:46.752 --> 00:22:48.502 Well, what's what's needed? 00:22:48.512 --> 00:22:49.972 The planning is very important. 00:22:49.982 --> 00:22:52.992 The development of it is very important. 00:22:53.292 --> 00:22:55.812 Supervision of that development is very important. 00:22:56.202 --> 00:23:02.272 On the M2 side, Getting the regulatory body to basically first understand this. 00:23:02.882 --> 00:23:07.172 Thankfully, the regulatory body in Abu Dhabi, they're so open. 00:23:07.272 --> 00:23:11.272 So we, it could be like, it was a journey for both of us to educate. 00:23:11.272 --> 00:23:17.412 Of course, M2 has its own, Phoenix is a shareholder, but a minority shareholder, 00:23:17.712 --> 00:23:25.592 but we try to make sure that our co founders and also the, uh, our principals 00:23:25.592 --> 00:23:30.052 in Abu Dhabi, they've been trying to talk to the, Uh, regulatory body. 00:23:30.822 --> 00:23:34.952 And that has started well, actually, if we started something that no one 00:23:35.272 --> 00:23:37.372 thought could be done out of UAE. 00:23:37.962 --> 00:23:43.012 So the finance side, so we kind of did this diversification just to make sure, 00:23:43.042 --> 00:23:45.472 because times were not easy for us. 00:23:45.472 --> 00:23:47.552 You know that, what happened. 00:23:47.982 --> 00:23:50.772 So now all of that is paying off well. 00:23:51.422 --> 00:23:53.312 And we're going to still look into that. 00:23:53.322 --> 00:23:55.632 I would think that the web three and. 00:23:57.222 --> 00:24:03.052 What's happening on the finance side of crypto has tremendous potential 00:24:03.612 --> 00:24:09.502 and the adaptation that's, um, that's, that's on the way and happening as we 00:24:09.502 --> 00:24:17.372 speak is, is going to push it forward and also more people will be able to 00:24:17.392 --> 00:24:19.632 understand it and tap into that potential. 00:24:19.632 --> 00:24:20.962 So we want to make sure that. 00:24:21.347 --> 00:24:27.187 We're, we're there to, to make sure that we're in that and be a pioneer 00:24:27.187 --> 00:24:31.487 in that, at least in Middle East, to take advantage from the situation 00:24:31.497 --> 00:24:35.277 that that's, this is the time, this is the right time, and now that the US 00:24:35.277 --> 00:24:40.937 administration is a pro crypto, because usually governments have Regulatory 00:24:40.937 --> 00:24:43.067 bodies usually follow what the U. 00:24:43.067 --> 00:24:43.227 S. 00:24:43.227 --> 00:24:43.597 is doing. 00:24:44.227 --> 00:24:48.917 This is going to change and gladly what we have in Abu Dhabi was already open, 00:24:48.957 --> 00:24:54.947 but had we had a government here that was not pro crypto, you know, it's still 00:24:54.967 --> 00:24:59.487 would, would put a bit of pressure, but this is now, it's going to help a lot. 00:24:59.577 --> 00:25:01.187 Yeah, I think so too, man. 00:25:01.647 --> 00:25:06.767 So I would just have, uh, Christian Lopez on talking about, you 00:25:06.767 --> 00:25:08.807 know, what the market might do. 00:25:09.317 --> 00:25:13.757 Um, you know, now that we're in kind of a bull cycle, at least it looks 00:25:13.757 --> 00:25:15.327 like we're going into a bull cycle. 00:25:15.647 --> 00:25:18.327 You think there's going to be some consolidation amongst 00:25:18.437 --> 00:25:20.017 like the big players out there? 00:25:20.457 --> 00:25:22.967 You think people are going to be kind of like you were saying, you're going to 00:25:22.967 --> 00:25:24.937 focus on your pipeline, you already have. 00:25:25.252 --> 00:25:30.402 To develop, but you guys keep up much with the, like the public companies here that 00:25:30.402 --> 00:25:35.062 are scooping each other up or trying to, Uh, well, what we're trying to do, cause 00:25:35.062 --> 00:25:39.692 you know, there is an advantage that the public companies here have is that they 00:25:39.692 --> 00:25:42.222 can always go to market and raise funds. 00:25:42.252 --> 00:25:42.652 Right. 00:25:42.922 --> 00:25:46.012 Over there, we have to stick with their own regulation. 00:25:46.022 --> 00:25:49.632 And, uh, for us, it's not like that we have to, we can go to 00:25:49.632 --> 00:25:53.412 market and raise funds, but we try to be efficient and grow. 00:25:54.682 --> 00:26:00.382 And what we're over there, we don't see a lot of competition to be honest. 00:26:00.412 --> 00:26:05.092 We, but we always try to make sure that, uh, with our American colleagues 00:26:05.092 --> 00:26:07.752 here and, um, the big pop goes here. 00:26:08.197 --> 00:26:09.197 We can keep up. 00:26:09.207 --> 00:26:15.167 Hopefully, uh, in terms of consolidation, I think here is going to, we're going 00:26:15.167 --> 00:26:19.107 to see a lot of consolidation here because There is a lot of capital when 00:26:19.107 --> 00:26:23.517 there is a lot of capital, you can also deploy to do a lot of acquisitions, 00:26:23.557 --> 00:26:28.037 strategic ones, maybe financially, it's not going to make sense, but people 00:26:28.037 --> 00:26:32.817 will go to those kind of acquisitions to just make a strategic move and make 00:26:32.817 --> 00:26:34.947 sure they get a bigger market share. 00:26:35.677 --> 00:26:38.437 Uh, what we're trying to do, we've got, first, we're going 00:26:38.437 --> 00:26:40.187 to focus on our own pipeline. 00:26:41.077 --> 00:26:43.877 We're going to make sure we're efficient in terms of power 00:26:43.877 --> 00:26:45.467 and the fleets that we have. 00:26:46.197 --> 00:26:49.887 But something in general, I believe it's going to happen because right now, 00:26:49.887 --> 00:26:51.157 of course, everything's profitable. 00:26:51.927 --> 00:26:56.347 And you always know that there is always a big chance that you get a correction. 00:26:57.167 --> 00:27:02.097 So, when that happens, usually the first ones that are going to 00:27:02.097 --> 00:27:06.057 hurt you are those that are Yeah. 00:27:06.057 --> 00:27:10.587 And we see a lot of that four or five years ago, a lot of 00:27:10.597 --> 00:27:12.277 people could do Bitcoin mining. 00:27:12.357 --> 00:27:17.707 But right now, if you want to do Bitcoin mining and you see it as a business 00:27:17.707 --> 00:27:22.297 that you want to last, you want to use your machines for four years. 00:27:22.967 --> 00:27:27.587 Uh, you got to make sure that you have a proper infrastructure for it, whether 00:27:27.587 --> 00:27:31.577 it's immersion or hydro, those are the kind of things you're going to look at 00:27:31.877 --> 00:27:37.557 because we know that the air cold miners are not going to last like the other two. 00:27:37.557 --> 00:27:42.717 So it's becoming in terms of a business, I would call it the industry itself. 00:27:43.077 --> 00:27:46.417 The whole Bitcoin mining is becoming very industrialized. 00:27:46.557 --> 00:27:46.967 Right. 00:27:47.652 --> 00:27:48.782 Big sites. 00:27:49.922 --> 00:27:53.992 I personally believe that down the line, that's what's going to happen. 00:27:54.172 --> 00:27:55.852 Probably I'm maybe I'm wrong. 00:27:55.852 --> 00:28:00.662 I think down the line in five, 10 years, Bitcoin mining companies. 00:28:01.002 --> 00:28:06.242 Like oil, oil companies, we're going to have like, we're going to have like a 00:28:06.252 --> 00:28:12.342 couple of them, maybe by the, you can count them by your, uh, by your hand. 00:28:12.502 --> 00:28:17.192 And then everybody else who wants to get exposure to Bitcoin can 00:28:17.242 --> 00:28:21.842 either go buy the stock, buy the index or buy the hash online. 00:28:22.622 --> 00:28:24.222 It's going to, because right now. 00:28:25.092 --> 00:28:31.412 You take a look at the miners 335 TE hash miner right now at the price, it's 00:28:31.412 --> 00:28:35.362 varying between items six or 17 to 24. 00:28:36.142 --> 00:28:37.312 It's becoming expensive. 00:28:37.402 --> 00:28:41.992 Mm-hmm . One, so the average Joe out there cannot just go and 00:28:42.082 --> 00:28:44.562 get a thousand or $10,000 miner. 00:28:44.562 --> 00:28:44.652 Right. 00:28:44.682 --> 00:28:46.932 Miners used to be cheaper. 00:28:47.792 --> 00:28:52.002 And just plug it in because you also need the infrastructure for it. 00:28:52.712 --> 00:28:56.772 So I think down the line, what we're going to see a couple of companies 00:28:56.772 --> 00:29:01.952 out there, mining, popcos, or bigger private ones, probably, and everybody 00:29:01.952 --> 00:29:10.132 else wants exposure, either go to buy their stocks, get ETF or buy the BTC, or 00:29:10.132 --> 00:29:14.522 what you're seeing that becoming very, very popular buying the hash rates. 00:29:14.622 --> 00:29:15.072 Yeah. 00:29:15.262 --> 00:29:15.502 Yeah. 00:29:15.592 --> 00:29:16.752 Do you guys have a hash? 00:29:16.807 --> 00:29:20.111 We have a platform. 00:29:20.111 --> 00:29:26.817 We also work with some of the, uh, big, uh, uh, platforms for, uh, 00:29:27.167 --> 00:29:29.017 buying and selling hashrates online. 00:29:29.017 --> 00:29:31.417 And also we have our own digital mining dot com. 00:29:31.417 --> 00:29:32.897 You can always buy a hashrate. 00:29:33.417 --> 00:29:35.127 Uh, depends on the market price. 00:29:35.187 --> 00:29:37.087 Sometimes it's above the index. 00:29:37.087 --> 00:29:38.867 Sometimes it's below the index. 00:29:39.027 --> 00:29:40.017 It keeps varying. 00:29:40.557 --> 00:29:44.427 And I think that's gonna be the retail market in the future. 00:29:44.847 --> 00:29:48.977 That is awesome because I've wanted that to happen. 00:29:49.027 --> 00:29:51.817 I think that people can't afford those machines. 00:29:51.817 --> 00:29:55.117 And I actually was talking about this with Christian too, and somebody else, I think 00:29:55.117 --> 00:30:03.697 a lot of the groups, um, Some of the best return projects I've seen are like S19 J 00:30:03.697 --> 00:30:09.157 Pros on like two cent power that you have available for like 70 percent of the day. 00:30:09.397 --> 00:30:12.047 That's the ROI on those was ridiculous. 00:30:12.377 --> 00:30:16.477 It's like six months, you know, it's, it's super cheap and it's 00:30:16.507 --> 00:30:19.707 like capital that anybody can really get together, small guys. 00:30:20.157 --> 00:30:25.557 I could see a place for like small miners to basically be just like in oil and gas. 00:30:25.557 --> 00:30:28.397 There's companies that will pick up a strip of production because 00:30:28.827 --> 00:30:29.847 that makes sense for them. 00:30:29.847 --> 00:30:32.747 They can make it work, but it doesn't make sense for a big guy. 00:30:32.747 --> 00:30:36.007 So I do, I look at the Bitcoin miner world. 00:30:36.017 --> 00:30:38.777 It's identical to the oil and gas world to me. 00:30:38.857 --> 00:30:40.247 Like, that's exactly what I'm thinking. 00:30:40.277 --> 00:30:41.157 That same direction. 00:30:41.417 --> 00:30:41.647 Yeah. 00:30:41.647 --> 00:30:46.737 Like you have the chevrons and exons and BPs, and then you get these little 00:30:46.767 --> 00:30:49.737 mom and pop shops that are buying up all the strip of production and just. 00:30:50.057 --> 00:30:51.858 Trying to, you know, screw by and make it. 00:30:51.858 --> 00:30:53.059 Gimmick money, profitable, yeah. 00:30:53.059 --> 00:30:55.461 So, yeah, I mean, I couldn't agree more. 00:30:55.461 --> 00:31:01.637 And, um, I guess I want to get to, uh, you guys, this is another one, I don't 00:31:01.647 --> 00:31:07.277 know if you can talk about it, but if you would, I heard rumors about, uh, you, or 00:31:07.307 --> 00:31:10.907 I guess Bajon, Having tigers and lions. 00:31:12.127 --> 00:31:12.707 You correct me. 00:31:12.707 --> 00:31:13.597 It's a lion, right? 00:31:13.867 --> 00:31:14.587 It's a lion. 00:31:15.497 --> 00:31:15.757 True. 00:31:15.757 --> 00:31:16.387 It's a lion. 00:31:16.627 --> 00:31:17.137 Okay. 00:31:17.137 --> 00:31:18.847 So, uh, I got it. 00:31:18.877 --> 00:31:21.767 Now he doesn't have to give it away. 00:31:23.017 --> 00:31:24.387 Well, he came too big. 00:31:24.487 --> 00:31:24.767 Yeah. 00:31:24.767 --> 00:31:25.937 He got too big. 00:31:26.167 --> 00:31:29.987 That's when I know I want, I've made it is when I can get a pet exotic animal. 00:31:29.987 --> 00:31:33.757 So I used to, I lived in Missouri growing up and there was a, there 00:31:33.757 --> 00:31:38.277 was, um, this person lived outside of town and they had like lions. 00:31:38.677 --> 00:31:40.597 They had tigers, they had bears. 00:31:40.807 --> 00:31:40.837 Oh. 00:31:40.837 --> 00:31:43.267 It was like wizard, lion and tigers and bears of mine. 00:31:43.327 --> 00:31:45.367 But they had the, all those out there. 00:31:45.397 --> 00:31:50.077 And uh, like we, we tried to get, you know, my wife's not here so I talk about 00:31:50.077 --> 00:31:51.127 it 'cause I went to high school with her. 00:31:51.127 --> 00:31:54.747 But we tried to , we tried to get, you know, chicks to go out with us 00:31:54.747 --> 00:31:57.717 to, we'd go show 'em at night and take 'em out to see these animals. 00:31:57.717 --> 00:32:00.897 But there was one time I was Turkey hunting and I'd been 00:32:00.897 --> 00:32:02.157 out drinking the night before. 00:32:02.157 --> 00:32:06.127 So I'm kind of hung over a little bit and I fall asleep in my tree and my brother's 00:32:06.127 --> 00:32:07.477 sitting on the other side of the tree. 00:32:07.892 --> 00:32:10.402 And I hear him, he's like, hey Barrett, my nickname is Barrett. 00:32:10.402 --> 00:32:11.902 And he's like, Barrett, Barrett, wake up. 00:32:12.442 --> 00:32:13.112 I'm like, huh? 00:32:13.642 --> 00:32:17.032 And he said, look, look across the field, what is that? 00:32:17.042 --> 00:32:20.422 And I look over there and I'm like, it is that thing. 00:32:21.032 --> 00:32:22.922 It looks like a big ol huge golden retriever. 00:32:23.002 --> 00:32:26.702 And so, um, I'm watching, watching, you know, I can't 00:32:26.702 --> 00:32:28.102 tell, but this thing is massive. 00:32:28.652 --> 00:32:31.542 And we go home, and we didn't have cell phones back then. 00:32:32.032 --> 00:32:33.802 I get in the door and my dad's like, where'd you, did you 00:32:33.802 --> 00:32:34.832 go hunting over at Feldman's? 00:32:34.832 --> 00:32:35.532 I'm like, yeah. 00:32:35.532 --> 00:32:35.912 He's like, yeah. 00:32:36.282 --> 00:32:39.032 Don't go over there for a while until they tell you, uh, one of the 00:32:39.052 --> 00:32:40.162 lions got out and they're out there. 00:32:40.372 --> 00:32:43.122 I was like, dang, we saw the freaking lion out there. 00:32:43.122 --> 00:32:46.982 I was turkey hunting, like, using, I got a 12 gauge out there. 00:32:46.992 --> 00:32:49.832 It'd be like throwing grapes at a giant, man, if it came over, but yeah. 00:32:50.177 --> 00:32:54.117 So I've had, I've had experience with lions too, but no pet ones though. 00:32:54.147 --> 00:32:56.317 Yeah, her name was Candy. 00:32:57.187 --> 00:32:58.377 Oh my God. 00:32:58.907 --> 00:33:02.877 Yeah, for like two, three months, uh, we, we kept her around. 00:33:02.957 --> 00:33:06.267 And then I was like, dude, we just gotta do something about it. 00:33:06.267 --> 00:33:07.717 We gotta get rid of the lion, man. 00:33:08.217 --> 00:33:10.225 This is not, you know, it's not sustainable. 00:33:10.225 --> 00:33:11.612 It's kind of scary. 00:33:11.762 --> 00:33:12.822 We can't have it. 00:33:12.862 --> 00:33:16.032 Yeah, yeah, I mean, I was like, first of all, how do you, how do 00:33:16.032 --> 00:33:18.092 you make the decision to go get it? 00:33:18.092 --> 00:33:18.792 You know what I mean? 00:33:19.032 --> 00:33:21.812 I, well, uh, Is there any guys like sitting around just hanging out 00:33:21.812 --> 00:33:23.862 and like, Man, I know what we need. 00:33:24.292 --> 00:33:25.662 We need a line in here. 00:33:26.292 --> 00:33:30.762 Cause look, Bijan is always the guy who's always thinking out of the box. 00:33:31.902 --> 00:33:34.052 Like even the fun is out of the box. 00:33:34.072 --> 00:33:36.122 Even the business is out of the box. 00:33:36.152 --> 00:33:38.282 It's always like, it's always been like that. 00:33:38.632 --> 00:33:44.012 So when everyone's like thinking about cats and dogs, he's thinking about lions. 00:33:44.022 --> 00:33:44.992 It's the same thing. 00:33:45.482 --> 00:33:46.182 It's the same thing. 00:33:46.182 --> 00:33:47.522 It's always been the same. 00:33:47.632 --> 00:33:50.302 Hey, man, that's probably why you guys have had so much success, you know. 00:33:50.622 --> 00:33:50.922 Thank you. 00:33:50.922 --> 00:33:51.292 Appreciate it. 00:33:51.342 --> 00:33:52.442 He needs to meet my brother. 00:33:52.472 --> 00:33:54.812 My brother is, uh, he's a bit of a shaman. 00:33:54.822 --> 00:33:56.352 He's always got weird stuff going on too. 00:33:56.462 --> 00:33:58.272 You should come and meet him in Abu Dhabi. 00:33:58.632 --> 00:33:59.792 I told you I'm coming. 00:33:59.792 --> 00:34:00.402 I'm coming. 00:34:00.402 --> 00:34:02.092 F1, yeah, yeah, yeah, yeah. 00:34:02.572 --> 00:34:03.682 Put it in the books, I'm coming. 00:34:03.682 --> 00:34:05.962 We'll do, we'll do a little mini documentary while we're out there. 00:34:05.972 --> 00:34:06.532 Sure, sure. 00:34:06.532 --> 00:34:06.952 It'll be fun. 00:34:06.992 --> 00:34:08.912 But, uh, well, I don't know how long you're going to be in TV. 00:34:12.182 --> 00:34:16.532 I'm going to be here, I think, until the weekend, and we can, we, 00:34:16.762 --> 00:34:21.862 I'm going to fly to Charlotte and then drive down to South Carolina. 00:34:21.862 --> 00:34:23.672 Yeah, but sure, for sure. 00:34:23.972 --> 00:34:25.502 How often do you get into the States? 00:34:25.872 --> 00:34:26.542 Oh, a lot. 00:34:27.182 --> 00:34:29.792 I mean, the last time I met you, you had all the Trump gear on. 00:34:29.872 --> 00:34:30.362 Yeah. 00:34:31.102 --> 00:34:36.472 We had a, we had a Trump, like we have a whole Trump set on my 00:34:36.472 --> 00:34:38.722 way back from South Carolina. 00:34:39.032 --> 00:34:44.732 When I was driving, I saw a trailer with a lot of Trump signs and just pulled over. 00:34:44.732 --> 00:34:47.102 I said, wait a second, I'm going to do this trailer. 00:34:47.142 --> 00:34:50.052 There's this guy sitting there looking at me, who's this guy? 00:34:50.112 --> 00:34:51.942 Who's this Middle Eastern dude? 00:34:51.942 --> 00:34:52.852 Middle Eastern dude. 00:34:53.642 --> 00:34:54.302 It was like. 00:34:54.802 --> 00:34:57.242 Um, how can I help you? 00:34:57.322 --> 00:35:01.822 I'm like, okay, I just want to, I started buying stuff, all of that pro crypto 00:35:01.822 --> 00:35:04.132 thing and the flags and all of that. 00:35:04.532 --> 00:35:07.382 And he looks at me, he's actually spending money, shopping, shopping. 00:35:07.382 --> 00:35:12.932 And then he looks at him, he looks at me, he's like, so where are you coming from? 00:35:12.942 --> 00:35:15.972 You think you seem like you're a long way back from home. 00:35:15.972 --> 00:35:18.522 I said, yeah, I'm coming from Dubai. 00:35:18.922 --> 00:35:19.412 He looks at. 00:35:19.842 --> 00:35:23.092 Is it a place that they just like build big islands? 00:35:23.152 --> 00:35:25.072 I said, yeah, sort of. 00:35:25.682 --> 00:35:30.162 And so I buy a lot of things, a lot of souvenirs for Bijan and everybody. 00:35:30.162 --> 00:35:33.082 And then from MOGS, anything that you can find. 00:35:33.272 --> 00:35:35.152 Nice t shirt, fun t shirts. 00:35:36.132 --> 00:35:39.762 I see he, he, he lit literally lives in the trailer. 00:35:39.882 --> 00:35:39.942 Yeah. 00:35:39.972 --> 00:35:45.872 So I looked at it like there's this big, big, uh, uh, Trump, uh, banner. 00:35:45.932 --> 00:35:46.142 Yeah. 00:35:46.682 --> 00:35:51.397 It's written on, it wanted 'cause he got convicted at Yeah, yeah, yeah. 00:35:51.572 --> 00:35:55.972 Wanted, and then, uh, below that it, it was written for 00:35:55.972 --> 00:35:58.252 President and then That's awesome. 00:35:58.642 --> 00:35:58.792 Yeah. 00:35:58.792 --> 00:36:00.442 Was there, so I was like. 00:36:00.742 --> 00:36:01.522 I got to get this. 00:36:01.572 --> 00:36:04.092 And then he looks at, I said, look, I need this. 00:36:04.102 --> 00:36:05.912 He was like, that's not for sale. 00:36:05.942 --> 00:36:08.062 I'm like, okay, well, how come? 00:36:08.072 --> 00:36:08.412 Why? 00:36:08.432 --> 00:36:09.322 Come on, work with me. 00:36:09.322 --> 00:36:12.502 He's like, I look, I told him, look, I'm long way from home. 00:36:12.512 --> 00:36:15.232 You said, and I want to get this for a friend of mine. 00:36:15.552 --> 00:36:18.732 And he was like, no, but I use it as a separator. 00:36:18.742 --> 00:36:20.122 Also, that's where I live. 00:36:20.162 --> 00:36:22.572 I'm like, Oh my God, his bed is there. 00:36:23.047 --> 00:36:27.757 It's like, come on, man, I, I, I did, I, I paid for all of these things. 00:36:27.777 --> 00:36:28.917 Give me something unique. 00:36:29.577 --> 00:36:32.057 So then he made it, he folded it. 00:36:32.117 --> 00:36:34.997 It's like, okay, it'll be, he puts it in these black bags and I'm like, I'm 00:36:34.997 --> 00:36:40.797 taking out, okay, now I'm going to fly to JFK, New York, that's a blue state. 00:36:41.227 --> 00:36:44.757 So I'm just going to be careful with this all the way. 00:36:44.757 --> 00:36:48.127 So I was like, when I was in Texas or red state, I was like, Oh, when 00:36:48.127 --> 00:36:51.337 I was passing through the airport, cause I never have checked in luggage. 00:36:51.667 --> 00:36:55.497 So all of the things, and I was okay in New York, I was like, um, 00:36:55.507 --> 00:36:58.698 it's a blue state, be careful with all these things that you purchase. 00:36:58.698 --> 00:37:00.547 It was fun. 00:37:00.757 --> 00:37:06.167 Yeah, no, I, I, that's what, I'm, I was curious, like in the Middle East, and I 00:37:06.167 --> 00:37:11.787 know you probably gotta go first, but, um, How, like, we hear the news, and 00:37:11.787 --> 00:37:15.642 the news makes us sound like everybody in the world hates Trump, and Thinks 00:37:15.642 --> 00:37:17.292 he's a joke, thinks he's a clown. 00:37:17.292 --> 00:37:20.182 But it, it doesn't sound like that's, yeah. 00:37:20.182 --> 00:37:23.452 I think what Trump, maybe the first administration he 00:37:23.452 --> 00:37:25.822 had is, was a bit different. 00:37:25.822 --> 00:37:26.182 Right. 00:37:26.242 --> 00:37:31.972 But this time the message was that it's, we wanna be pro business. 00:37:32.122 --> 00:37:32.332 Right. 00:37:32.742 --> 00:37:35.432 Not pro not hurt your feelings. 00:37:35.437 --> 00:37:35.717 Right. 00:37:35.972 --> 00:37:36.152 Right. 00:37:36.152 --> 00:37:40.832 So this was, and we, we saw this as a, as a good thing. 00:37:40.892 --> 00:37:44.922 Mm-hmm . 'cause what we are seeing, what we are hearing. 00:37:45.682 --> 00:37:51.052 All the time, the, the, this stereotype was that, oh my God, if you want to do 00:37:51.112 --> 00:37:52.982 anything, if you want to convince the U. 00:37:52.982 --> 00:37:53.122 S. 00:37:53.122 --> 00:37:56.172 government of anything, you can't do it. 00:37:56.182 --> 00:37:57.822 It's going to take forever. 00:37:57.832 --> 00:37:59.502 There's the paperwork. 00:37:59.862 --> 00:38:04.422 So this seems like sounds, seems and sounds like a reset button. 00:38:04.432 --> 00:38:04.882 Right. 00:38:05.122 --> 00:38:05.502 Yeah. 00:38:05.562 --> 00:38:07.402 And this is very good for crypto. 00:38:07.432 --> 00:38:12.202 Cause you know, we had to Talk about crypto, about how this 00:38:12.272 --> 00:38:16.662 adaptation is required and talking about, look, it's very easy. 00:38:16.662 --> 00:38:19.362 You don't need to be a genius to understand it. 00:38:19.372 --> 00:38:20.782 Imagine it's getting adapted. 00:38:20.802 --> 00:38:24.922 The adaptation is increasing and imagine the supply is going down. 00:38:25.407 --> 00:38:30.187 So this, and this is a good store of value, and good luck 00:38:30.187 --> 00:38:33.287 explaining it to governments that they just don't want to listen. 00:38:33.327 --> 00:38:33.757 Right. 00:38:33.837 --> 00:38:35.997 Now, and you see, when U. 00:38:35.997 --> 00:38:36.197 S. 00:38:36.197 --> 00:38:38.477 does something, rest of the world usually follow. 00:38:39.277 --> 00:38:43.567 Now with this, we always saw this as an opportunity, so we think things are 00:38:43.567 --> 00:38:49.922 going to get way better and different for, Crypto and businesses, and we're 00:38:49.922 --> 00:38:55.022 going to be back in a, in a, in a kind of an environment that business 00:38:55.222 --> 00:39:01.222 dictates everything, not just politics, or I don't want your feelings to be 00:39:01.222 --> 00:39:04.372 hurt or all of those kinds of things. 00:39:04.382 --> 00:39:09.822 Every, um, cycle has like learnings, I think that people get from each one. 00:39:09.822 --> 00:39:13.882 And then there's a new thing that's kind of thrown on, on into each new cycle. 00:39:14.832 --> 00:39:19.382 I think last time it was, um, a lot of institutional money came in from 00:39:19.382 --> 00:39:20.802 mining side and all that this time. 00:39:20.802 --> 00:39:26.132 I think the, there's an aspect to like governments coming in and you know, the 00:39:26.142 --> 00:39:30.372 whole strategic Bitcoin reserve and all that kind of stuff could create a whole 00:39:30.372 --> 00:39:34.252 new level of capital that we couldn't really comprehend coming into the market. 00:39:35.197 --> 00:39:40.287 But then on more of the like technical side for individuals and looking at 00:39:40.287 --> 00:39:42.647 mining and like why should I mine? 00:39:42.647 --> 00:39:45.177 Versus why should I not just buy Bitcoin? 00:39:45.617 --> 00:39:50.557 And I think there is a case for for this and it's especially like during these 00:39:50.577 --> 00:39:54.687 bull runs But you you were talking earlier like what's your kind of thesis on that 00:39:54.697 --> 00:39:59.167 or explanation for why people should mine versus buying Bitcoin, I guess. 00:39:59.357 --> 00:40:02.417 Well, you know, now things are very much changed. 00:40:02.427 --> 00:40:03.837 It's very easy to look at it. 00:40:03.837 --> 00:40:05.837 Imagine you've got a cost of a miner. 00:40:06.107 --> 00:40:07.727 What's associated with mining? 00:40:08.127 --> 00:40:09.207 It's the cost of the miner. 00:40:09.257 --> 00:40:09.867 It's the power. 00:40:10.662 --> 00:40:13.352 These days when you do the math, let's say even if you're at 6. 00:40:13.352 --> 00:40:18.402 5 cents in terms of those who want to do hosting, what you're looking 00:40:18.402 --> 00:40:21.642 at is that when you depreciate your assets, when you, when you look at the 00:40:21.642 --> 00:40:28.702 cost of the electricity, the Bitcoin price would come around 58 to 68, 00:40:28.702 --> 00:40:30.172 000, depending how you calculate it. 00:40:30.772 --> 00:40:36.002 So the cost of, so now, right now, if you mine, you, you're mining a Bitcoin 00:40:36.002 --> 00:40:42.752 at a cost of 58 to 68, probably maybe 70 on the highest one, and BTC is at 97. 00:40:42.752 --> 00:40:42.812 Yeah. 00:40:43.262 --> 00:40:49.562 So the down the downturn for this is, is, the downside of this is that you, you, 00:40:49.562 --> 00:40:54.142 you, you are mining Bitcoin at a, at a, at a very great value 'cause there is a 00:40:54.142 --> 00:40:57.052 chance that you buy at 97, buy at 104. 00:40:57.517 --> 00:40:58.717 And still it comes down. 00:40:58.877 --> 00:41:03.157 But in the mining, it's like you're looking at it as a long term investment 00:41:03.157 --> 00:41:08.167 that you're mining your Bitcoin, and the cost right now is so attractive 00:41:08.857 --> 00:41:14.647 that there is a big gap of 20, between production and buying the Bitcoin. 00:41:15.097 --> 00:41:16.647 Let's call it a ready product. 00:41:17.067 --> 00:41:19.627 So it's making it very attractive. 00:41:19.627 --> 00:41:22.867 And we're seeing the miner prices are going up again. 00:41:22.867 --> 00:41:24.247 People are turning off miners. 00:41:24.247 --> 00:41:28.427 And I think this is, this is going to be a huge thing for all of the miners and 00:41:28.437 --> 00:41:30.307 everyone who wants to mine right now. 00:41:30.752 --> 00:41:34.672 Now the economy makes so much sense that you just have to 00:41:34.672 --> 00:41:36.412 make sure you get there fast. 00:41:36.432 --> 00:41:36.812 Right. 00:41:36.972 --> 00:41:38.522 I've thought about this many times. 00:41:38.522 --> 00:41:42.722 And like when you're in a bear market and Bitcoin is tanked, that to me is like 00:41:42.722 --> 00:41:44.002 the time, that's when you buy, right? 00:41:44.182 --> 00:41:45.172 That's when I buy Bitcoin. 00:41:45.172 --> 00:41:45.822 Exactly. 00:41:46.112 --> 00:41:49.197 And when we get into these kinds of times where it's like, You can't 00:41:49.197 --> 00:41:53.907 keep up with the price, like, because you, you anticipate there'll be some 00:41:53.907 --> 00:41:55.707 levels of corrections in there, right? 00:41:55.927 --> 00:42:01.177 But if I can produce Bitcoin then at 58, 65, and somewhere in there, 00:42:02.067 --> 00:42:03.817 I don't see how you can beat that. 00:42:03.967 --> 00:42:06.277 And that's how institutions are looking at it. 00:42:06.297 --> 00:42:08.687 They don't look at it, let me buy. 00:42:09.027 --> 00:42:13.897 And, oh, I'm going to sell my Bitcoin and, uh, pay my power bill or hosting bill. 00:42:13.987 --> 00:42:16.717 Now the big guys, they understand it way better. 00:42:17.237 --> 00:42:19.867 They minor BTC and they pay the electricity. 00:42:19.957 --> 00:42:23.827 They see it as a product that they're buying at a cheaper price. 00:42:24.217 --> 00:42:27.317 That by the time in three years, they're just going to average and they look at it. 00:42:27.377 --> 00:42:27.707 Okay. 00:42:27.707 --> 00:42:32.877 We got our Bitcoin at a cost of, let's say 70, 80, but look at it right now, 00:42:32.877 --> 00:42:34.387 what we have, and it's going to be what? 00:42:34.427 --> 00:42:37.792 200, So that's the game right now. 00:42:37.832 --> 00:42:38.222 Yeah. 00:42:38.272 --> 00:42:42.362 When you got going with, and I'm sorry, because this is kind of jumping back, 00:42:42.362 --> 00:42:47.682 but it just kind of hit me, is like, what was the government's viewpoint on 00:42:47.952 --> 00:42:50.862 Bitcoin when you guys first got going? 00:42:50.892 --> 00:42:54.882 Because, and I don't know, I hear different things, but do you guys, 00:42:54.912 --> 00:42:57.822 are you guys working closely with like Sovereign Wealth Fund or anything? 00:42:57.882 --> 00:43:01.512 Yes, I would say what happened over there, I think, They were 00:43:01.542 --> 00:43:03.372 the main pusher of this thing. 00:43:03.462 --> 00:43:03.932 Really? 00:43:04.022 --> 00:43:04.352 Yeah. 00:43:04.352 --> 00:43:10.052 So they found us, we have, we had our showroom on, uh, Sheikh Zayed road, 00:43:10.052 --> 00:43:13.042 which is like the main, the place to be. 00:43:13.542 --> 00:43:18.402 And we were approached and I think that's, that's one of the things we talk 00:43:18.412 --> 00:43:20.332 about, they are the pioneer of this. 00:43:20.872 --> 00:43:27.592 One of the main reasons Phoenix is here is because of government vision and the, 00:43:27.662 --> 00:43:30.702 the leadership and what they have in mind. 00:43:31.142 --> 00:43:33.142 So that's how we got encouraged. 00:43:33.142 --> 00:43:36.932 And then of course, because before that we were in Canada and other places, 00:43:37.552 --> 00:43:40.612 but that was a pivoting moment for us. 00:43:40.622 --> 00:43:44.262 Suddenly a site of 240 megawatt. 00:43:44.492 --> 00:43:49.492 That was, that was the main factor, the government and the vision and the 00:43:49.492 --> 00:43:52.172 push that didn't exist anywhere else. 00:43:52.702 --> 00:43:58.122 And now we're seeing that, that actually paying off and we got, we got the 00:43:58.122 --> 00:44:00.722 support and for, for our business cases. 00:44:00.722 --> 00:44:03.872 So we're still looking if there is more power there, we're 00:44:03.872 --> 00:44:04.962 still going to look for it. 00:44:05.692 --> 00:44:10.822 And down the line, what we want to do, we want to expand Uh, with that 00:44:10.832 --> 00:44:16.832 backing, and we want to make sure we're still pioneers in our, uh, region. 00:44:16.912 --> 00:44:18.282 Right, right, yeah. 00:44:18.582 --> 00:44:23.742 I really appreciate you taking the time to come do this, and um, Thank you. 00:44:23.842 --> 00:44:27.052 I want to do some more of these, and I'm, I think we're going to 00:44:27.052 --> 00:44:31.332 probably, I gotta, I gotta convince Sarah to get on board with it, which 00:44:31.332 --> 00:44:32.372 I don't think it'll be too hard, but. 00:44:33.117 --> 00:44:35.137 I think we're gonna go to Dubai and hang out a little bit. 00:44:35.137 --> 00:44:38.567 We're gonna do the next one in F1 Abu Dhabi. 00:44:38.607 --> 00:44:39.067 I like it. 00:44:39.067 --> 00:44:39.624 I like it. 00:44:39.624 --> 00:44:41.081 That's what I want to see you. 00:44:41.081 --> 00:44:41.907 I want to see myself there. 00:44:41.907 --> 00:44:43.617 So it sounds great, man. 00:44:43.617 --> 00:44:44.907 But, well, thank you Reza. 00:44:44.907 --> 00:44:46.097 I appreciate it, man. 00:44:46.107 --> 00:44:46.597 Thank you. 00:44:46.777 --> 00:44:48.957 We're, uh, we're gonna keep doing some deals together too. 00:44:48.967 --> 00:44:49.167 Good, good. 00:44:49.167 --> 00:44:50.317 We're gonna do some power generation stuff. 00:44:51.417 --> 00:44:52.977 Because I'm on board with you guys on that. 00:44:52.977 --> 00:44:55.787 I think that's, uh, That's the key. 00:44:56.007 --> 00:44:56.837 That's the future. 00:44:56.867 --> 00:44:57.077 Yeah. 00:44:57.097 --> 00:44:58.837 Being in control of your power. 00:44:59.157 --> 00:44:59.557 Yeah. 00:45:00.007 --> 00:45:00.537 That's it. 00:45:00.827 --> 00:45:03.757 That to me is like retirement money. 00:45:04.067 --> 00:45:05.177 That's going to put us in retirement. 00:45:05.177 --> 00:45:05.497 Yes. 00:45:05.827 --> 00:45:06.677 That's what I'm looking for. 00:45:06.787 --> 00:45:07.397 Well, awesome. 00:45:08.137 --> 00:45:10.277 Like and subscribe, listen to the show. 00:45:11.157 --> 00:45:12.037 Appreciate you having a rest of the day. 00:45:12.237 --> 00:45:12.737 Thank you. 00:45:12.767 --> 00:45:13.654 Thank you for having me.