← Blockspace: AI & Bitcoin
Blockspace: AI & Bitcoin
NEWS: Block’s Layoffs, Magic Eden Drops BTC + ETH, MARA Gets Serious on AI, Jane Street’s Lawsuit
01:02:42
On the latest Blockspace roundup, the gang cover’s Block’s 40% workforce reduction and our scoop that Magic Eden is quitting the Bitcoin and Ethereum NFT game.
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- [00:00]
A
The biggest news this week is block laying off 40% of its workforce. We'll get the tweet up here from Jack Dorsey. And he basically goes into that this is a preemptive move where they're not hurting, they're comfortable, they're making money. But he's just saying, look, now it takes maybe one person to do a job of two or three people. Formerly, because of these AI tools, Block's stock did exactly what you would expect in this scenario. It popped, ripped. It ripped like 20 plus percent after market hours. Obviously, from a shareholder perspective, like a good decision, depending on where you fall on the white pill versus black pill. For AI, this is either important for mass layoffs to come or something that is just part of the, you know, natural technological Progression.
- [00:47]
B
Holy smokes. AI is coming for your job. It already took 40% of blocks workforce. Yes, this is the Blockspace live show. We do this every Friday at noon Eastern. Make sure if you're on YouTube, hit that bell so you get a notification. If you're on Twitter, just turn on notifications for the Blockspace account. This show is brought to you by CleanSpark. So thank you very much. Tuning in. We have a banger show. There's actually too much news, so we had to pare some stuff down last minute. We got Jack Dorsey block laying off 4,000. That's 40% of their workforce. We've got Jane street conspiracies. We've got our Magic Eden story, which went viral last night. And Saylor's the most shorted stock. Hey, Charlie here. Guess what? We just announced our next bitcoin technical conference up next.
- [01:42]
A
That's right, y'.
- [01:43]
B
All.
- [01:43]
A
Op Next is back for 2026. We're running it back after a successful event at Strategies HQ in Tysons, Virginia last year. And this year we are bringing it to the the Big Apple. At the iconic Time center in midtown
- [01:55]
B
Manhattan, we're hosting the big names and projects that you recognize, like Robin Linus
- [02:00]
A
of BitVM, Nick Jonas of Blockstream, Antoine Ponceau of Chaincode Labs, and Callet of Bitchat will also be present.
- [02:07]
B
And this isn't just for the devs. We have institutions talking with the developers. That's what UpNext is all about. We have Robert Michnick, head of digital assets for BlackRock in the building. We've got folks from mining pools, investor funds, bitcoin startups and other groups.
- [02:24]
A
With a ticket, of course. You'll get access to all the high signal programming and networking you could want. You'll also get Coffee, catered lunch and access to the afterparty at Pub Key. If you want to go vip, you'll also get access to the speaker dinner following the event and an investor brunch on Friday.
- [02:41]
B
Tickets are capped at 300 and early bird tickets are already sold out. If you want to save yourself a spot, go to op next.dev that is op n e x t.dev use code podcast to save 20% off a GA ticket to the event.
- [02:57]
A
Ticket prices go up every few weeks, so don't wait. Y' all lock in that ticket today.
- [03:01]
B
We'll see you April 16th at the time center in New York City. I'm going to bring up Colin. Colin Red Hat for a red week in the market.
- [03:14]
A
I'm entering my, I'm entering my Jack Dorsey era with my, my drug dealer hoodie and my beanie. I, I had to, I had to christen this episode with something because like you said, Charlie, there's a lot in the news this week. We're back in Scoop City with a fat scoop from you on Magic Eden. Really excited about that one. All right, before we get to the news, let's do our difficulty hash price and hash rate update from Hash Rate Index. This is Luxor's premier bitcoin mining dashboard and it is looking freaking ugly, Charlie.
- [03:49]
B
Oh, it's so bad. It's just languishing down there.
- [03:53]
A
Yeah. So hash price is sitting at a very depressing $28.71 per PETA hash per day during bitcoin's drawdown at the beginning of February. And actually just recently in the last week, it set an all time low.
- [04:11]
C
Yeah.
- [04:12]
A
Looking at it right here, on February 24th, hash price hit an all time low below $28 per hash per day. As Bitcoin's difficulty increased, that is setting a new all time low from the all time low that it hit back in February when bitcoin tanked to about 60k. Right now, difficulty is or miners are reeling from a 14.73% difficulty adjustment. This followed a string of downward difficulty adjustments that were spurred forth by, you know, some, a number of factors. Right. There's some terrible weather in the US Hash price has obviously just been suffering. So fewer miners are actually able to stay profitable at the current levels given bitcoin's price decline. And you know, there's also some headwinds for hash rate with regards to. Or, sorry, tailwind. Yeah, headwinds for hash rate with regards to the AI pivots that we're seeing a lot of these Big public miners are starting to actually liquidate some of their fleets so that they can make way for AI workloads. Rate back above 1 zeta 1000/exahashes after the winter storm fern impact. I mean look at this canyon right here. This is an absolutely massive drop off. We can see hash rates at about 1005, 1050 Exa hashes. On January 23rd winter storm hits and it looks like some miners were kind of prospectively curtailing, you know, on the 24th and 25th. And then it just craters as the storm makes impact. It really hit most of the states that would have had hash rate, you know, in the Southeast and Midwest I believe on like 26, 27th of January and it reaches in a deer on January 31st at 853exahashes which is the lowest we've seen it since peak curtailment in the summer of last year. Now it's recovered somewhat, but we're still nowhere near. I shouldn't say nowhere near but we're, you know, almost roughly 10% off. Almost 10% off from the all time high that was set in October of 1157axahashes when Bitcoin was roughly at its all time high too. So number of factors coalescing against Bitcoin's hash rate in terms of, you know, inclement weather this winter, the AI, the AI expansions and also bitcoin price just absolutely suffering. Quite frankly, I, I have a hard time believing that we will see it grow very much at all this year. This is something that I talked about with Rafa Zaguri, the CEO of Electron. They manage a large portion of Tether's bitcoin mining fleet who spoke about this with him this week for a pod that we'll be releasing next week. And all that being said, it's pretty amazing to see how much the dynamics of Bitcoin's hash rate have shifted over the last year as these AI pivots take off as hash price continues to suffer under Bitcoin's bear market and what little hash rate is being added currently.
- [07:09]
B
Yeah, and I mean maybe it was very obvious it's there in the name the difficulty adjustment. It only gets more difficult. I should have known years ago that this is a business that just only keeps ramping up. I actually kind of want to share something because I think I have a page that doesn't get enough love on the hash rate index website here, which is the global hash rate heat map. Like you don't really there's no one else that has this, like the Cambridge, the Cambridge research has to like, try to do something like this. But this is like the best global view of hash rate. And of course, only Luxor and hash rate can do this really. But it shows you where the hash rate in the world is located. Again, this is an estimation based upon hash rate indexes, like where they see rigs being sold and their intel. But it's the best we can do so far. And we see the United States still in the clear lead over a third of the hash rate that we believe exists in the world. The really interesting story is Russia with 175exahash, 16.4% of the network. According to this. This is Q1 of 2026. If we go back to 25, Russia had 15% of the hash rate with 125 eggs a hash. Now it's like Russia's, you know, famously opaque. But this, you know, it's interesting to see like the actual, like, story we, like, we're watching happen, which is AI is eating into bitcoin profits domestically in the United States. The hash rate producers, the miners, are pivoting to AI. Where's the hash rate going? This is a big open question. There are suspicions it's going to Russia. So I'd be looking at this map and other stuff, Luxor, Bruce and their hash rate index to kind of monitor this trend because I think this has big geopolitical implications and also plays into the AI narrative.
- [09:02]
A
Yeah, I would agree with that. We're going to see an incredible hash rate restructuring over the next few years. And as Tom Massero of Cathedral pointed out on a pod we did with him recently, actually did it in Nashville for the Nashville Energy Mining Summit right before Fern hit, that he feels like the current AI shift has echoes of the China mining ban in terms of how impactful it will be for Bitcoin's hash rate. But we'll leave that there and we'll go ahead and hop on over to news. The biggest news this week, undoubtedly, as you led with, is block laying off 40% of its workforce. So block before these layoffs, had 10,000 employees. We'll get the tweet up here from Jack Dorsey, where and which in which he does lowercase for. For firing people.
- [09:49]
B
Not a single capital letter. So I don't know if that's.
- [09:52]
A
If I have to say, look, I like Jack. I got to say this, though. This reeks of like an Iowa Writers Workshop MFA candidate trying to be differentiated in the most banal way possible with their literature. I mean I, I just for, for text communications, do it for official comms. Come on man. You're leading a multi billion dollar company. Button it up a little bit. You're about to find your behalf, your workforce.
- [10:20]
B
Yeah, four, four pound signs. That's not a markdown symbol. That's not actually anything in markdown. I think it might be a line break. Whatever he says. So we're making, we're making blocks smaller today. And then he explained, and he basically
- [10:33]
A
goes into that this is a preemptive move where they're not hurting, they're, they're comfortable, they're making money. But he's just saying, look, now it takes maybe one person to do a job of two or three people formerly because of these AI tools. And so what we're getting here is the Citrini thesis. I don't know if any of y' all read that really that article that apparently tanked the stock market earlier this week, but Centrinni Research put out a kind of perspective, fictional account of the stock market and the labor market two years out. And he talks about specifically this, about how these companies are going to start laying off people as most, a lot of people have prognosticated because AI is going to be able to fill shoes of workers who are superfluous at this point. And for Block's case specifically, they're going from 10,000 people to just under 6,000. It comes with a very lush or very comfortable severance package. 20 weeks plus 1 week of 10 year for each week.
- [11:28]
B
Yeah, that's a lot. I mean. Yeah.
- [11:30]
A
Also equity investing through the end of May for the employees laid off, six months of health care. They keep all their corporate devices and $5,000 of basically a half fun bonus. So. And you know, incredibly, as you might expect, I mean I don't think that this was that strange to anyone. I'm going to share my screen now. Charlie.
- [11:51]
B
Yeah.
- [11:52]
A
Block's stock did exactly what you would expect in this scenario. It, it popped, ripped. It ripped like 20 plus percent after market hours when, when Jack Dorsey announced this. And it makes sense. You just cut your expenses by. I think I saw someone run the numbers where it was like somewhere in the hundreds of millions of. Assuming an average salary of, you know, roughly six figures maybe for these, for these employees. Obviously from a shareholder perspective, like a good decision. Of course, X did not spare any, any vitriol. Right. Or invective against Jack Dorsey. I saw a lot of takes about this one. I want to pull up here just to debunk it really quickly. Of course Zero Hedge comes out and says it's a really, it's a zinger, really. It's kind of funny. Spend $68 million on a party in Q3, 200 days later, fire 40% of your workforce, blame AI. Okay, so that's $68 million for a party. That's not true.
- [12:46]
B
Is that true? I didn't get too into. I thought this was like some as like a G and A expense.
- [12:50]
A
Yeah, exactly, it was. And so this comes from their 10Q for Q3 where it says general and administrative expenses increased by 68.1 million or 14% for the three months ended September 30, 2025. And then the ellipsis that then follows this in the Zero Hedge tweet goes into these expenses increased. These expense increases resulted from an in person company event held in the third quarter, 2025. Oh, so that must have been 68.1 million.
- [13:20]
B
No.
- [13:20]
A
As well as restructuring costs including severance and other related expenses. So no doubt whatever that company event thing was, was probably an on site. That cost them a lot of money. No doubt. Millions of dollars probably.
- [13:32]
B
Right?
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A
I mean that's not uncommon.
- [13:33]
B
Thousand people. It's a 10,000 for one of the bigger tech companies. Yeah, yeah.
- [13:38]
A
But also like do your research guys. $68 million in one day is crazy. Like that clearly didn't happen. That that's just a clickbaity tweet from Zero Hedge. It's funny, you know, unless you got fired from Block, maybe it's not funny, but it's. It didn't actually happen. And just a few more notes on this. You know, we've been talking to some of our sources within Block and it does seem like this has touched basically every single vertical. We are not sure about certain bitcoin product lines, like how this affects BitKey. I think that you said, Charlie, that it seems like SPIRAL is mostly.
- [14:09]
B
Yeah, this is actually alpha here. So this is new news that I don't think anyone else report on saying first here live on this show market, under the Block umbrella, there's multiple entities. Some are like Jack Dorsey passion projects, some are in. In between. I would say Spiral, which is like the bitcoin developer Seal Team six that Jack Dorsey funds. You know, a dozen or so, you know, cracked devs, they are untouched. So nobody lost from Spiral as per our source. There's other umbrellas. There's BitKey, which is the wallet, the hardware wallet that is under Block. I don't think I've heard Anything from them. I don't know if you have Colin either. If you were. If you got info on Biti DM me, then we have Proto. The hardware, like the mining side of Block, the actual physical ASIC that they've been producing, the modular thing, swap and swap out. I think they didn't have as many layoffs proportionally as the other like Cash App and Square parts of Block. But they did have some layoffs. But Proto still going with maybe a small head reduction. Headcount reduction unknown about Biki Spiral untouched. It's mainly like, because Jack tweeted about it more this morning. He said that they grew, quote, like grew Cash app and Square as like different structured businesses, when in reality they should be kind of the same corporate structure. So that makes sense why the majority of the headcount was lost in those two areas.
- [15:43]
A
Yeah, and just a note on that. It does kind of seem like a confusing corporate structure. You have, you know, Block, which is the parent company, and you have Square, point of sale, terminal. You have all of this bitcoin stuff that's kind of in its own silo. And then Spiral is a part of that bitcoin stuff, but also kind of separate. Yeah, you know, it's. It's kind of dizzying, but yeah. Anyway, you know, depending on where you fall on the AI doomer or gloomer angle or bloomer, I'm gonna.
- [16:11]
C
I'm gonna. I'm gonna.
- [16:12]
A
I'm gonna coin that bloomer. Depending on where you fall on the. The white pill versus black pill for AI, this is either important for mass layoffs to come or something that is just part of the, you know, natural technological progression and, you know, adapt or die. But anyway, that, okay, that first big, huge AI layoff, I think that we've seen at least explicitly naming it in tech. But now to the big scoop this
- [16:40]
B
week from this was a banger from CB Spears.
- [16:44]
A
It really was a banger. And damn, how the mighty have fallen. Charlie, what's going on with Magic Eden?
- [16:51]
B
So if you're not really in the bitcoin asset trading world, you probably don't know about this. This is very big in broader crypto, though. So we come at this from a bitcoin lens here at Blockspace, but Magic Eden is a mainstay and a big name across the world of trading NFTs digital assets, and one of the leading marketplaces in the NFT and crypto trading space. And they are shuttering their, or allegedly, according to our sources, imminently going to announce they are going to shutter their bitcoin ordinals, trading and EVM related marketplaces. For those of you who aren't in the know, EVM stands for Ethereum virtual machine. Any kind of like system that uses the same kind of VM language or basically plugs into Ethereum. So this would be Arbitrum base, I think Bara chain, but basically all those like other chains of which there's a ton of volume on. So this is, according to our sources, going to happen over the next month and this is big news everywhere because this is like you know, a year and a half ago Magic Eden was doing, they took the number one spot in terms of like overall trading across like that the platforms of their type of beating out OpenSea and Blur and did something like $7000-007340-00000 in trading volume in March 2024 alone. So this is significant. And Magic Eden had a very notable like bitcoin pivot in early 2023 at the rise of ordinals and they absolutely dominated that market. So you know, this does relate to what happens in bitcoin. If you think, oh it's the bitcoin trading platform, that's fine, you can think that. But like, if you look at like the transaction landscape of bitcoin, a lot of this is related to stuff which is then bought and soul and Magic Eden. So it's very notable that they allegedly, according to our sources are sunsetting this and. And what are they doing? They're probably, it sounds like they're going prediction markets because that's what everybody's doing. You either, it's kind of like if you're in bitcoin long enough, you start a podcast. If you're in crypto long enough, eventually you go into prediction markets or stable coins. That's kind of what.
- [19:17]
A
Yeah, let's be real about our definitions here. If you're in this casino world, if you're in the gambling industry, you move from flipping JPEGs to prediction markets. No, but in all seriousness, just a few other things to highlight from this. Looks like this is going to be a multi tiered shutdown in the sense that according to Charlie's sources, they're going to discontinue their cross chain wallet shortly after they announced this, which should be within the next week. And then after that sometime in mid March they are going to completely remove or in April they are going to completely remove that, it's going to be export only in mid March and then they are going to just get rid of it entirely. Sometime in April the marketplace Might be shutting down as soon as the first week of March or roughly around there. And it to what you were saying, Charlie, looks like apparently they're going to still keep their Solana related, you know.
- [20:19]
B
Yeah.
- [20:19]
A
So which is where they, how they started, right?
- [20:22]
B
Like they were started on Solana, I think it was, if I remember correct, it was like mid 21 and they quickly became the number one trading platform for NFTs on Solana, which obviously was the darling child of the last couple years in like non bitcoin blockchains. And yeah, I missed, I didn't talk about the wallet. The wallet's kind of interesting because they only launched it like two years ago, maybe like a year and a half ago. I forget. And so just for like the average person like this doesn't mean you can't access your funds necessarily. If you have your private keys, theoretically you can go, you like, you know, put those private keys into a different wallet and sign for those assets. But like the actual like software that is the Magician Wallet, we expect they will announce that it will be deprecated so they won't service that anymore. This often creates a lot of like challenge like you know, using and claiming your assets. Because with these EVM chains, with these smarter blockchains, it's never that straightforward. Like it's, there's always like way more goofy like things that are going on. So. But that's kind of crazy because they really like pushed their wallet. It was like a flagship product under two years ago that they launched and so sunsetting it is pretty crazy to me. Oh, also they, this, I, you know, they raised, what is it, $157 million in venture funding over the past three years.
- [21:53]
A
Wait, hang on, this is correct.
- [21:57]
B
Yeah, this is correct. So this is, this is correct. This is a source. Yeah, sources from TechCrunch and other place. So they did a couple rounds, one of the, the culmination of which was 130 million series B in June 22. That valued at 1.6 billion including paradigm Sequoia, Greylock Electric Capital.
- [22:15]
A
Okay, and what's. Okay, hang on. What's really insane about that is that is two years before they had the $700 million trading volume during the ordinal splurge. I mean, yeah, so imagine if they did that fundraising now. It probably would have been even more. And you know what? I'm, I don't, you know me, I didn't think any of this was sustainable anyway. But raising that much money, if you have 700 and like almost 750 million in trading volume. I could see that, right? I mean like, I could see why an investor would be like, holy crap, you guys are moving volume. We're going to give you money. But before you even get to that point. Right. I get the Solana NFTs were kind of riding the 2021 Ethereum NFT wave as well, and that whole ecosystem had its own huge splurge moment and meteoric rise. But that's insane to me. Unless you have anything else to add, point out one more thing before we get Mike on to talk about GPUs. After we did this, we posted this article. The number of markets on Magic Eden. I mean all of the major ordinals collections except for a few smaller ones. And I think just people flipping things are red over the last 24 hours. And just, you know, I wanted to point that out because in this case some more market moving news from block space. But in this case for a market that no one really cares about. Yeah.
- [23:49]
B
And you know, I, I'm in a lot of the degen chats and they're like, why didn't you tell us? I'm like, journalistic integrity guys. I'll also say, you know, for those of you are in like in the trenches with me, this had been a rumor for more than a week in like the. The no. The who knows who of discords. Like everyone. I thought it was kind of a meme. I wondered if it was actually verified. So this is like kind of a memed rumor in that we now believe is pretty credible. And so it could be. You know, maybe they're announcing it right now. We'll see. So that is that story. That's a. That was just for anyone who's listening, like that was. We are seeing record numbers on our website impressions and some of our social media. So that story really took off. You never know how story is going to do. Sometimes you wonder if you're just screaming and avoid you put it out. But.
- [24:47]
A
Well, it's funny, if you had told me this one would perform that well, I would have said yeah, it's probably going to do okay. I mean it's big news specifically for that corner of the market. But I think it goes to show you just how plugged in and devoted the. The ordinals heads are. You know, people who got involved in this market are still fiendishly devoted if, if they've stuck around this long.
- [25:11]
B
So yeah, people like the market's totally dead. Yeah, the market's dead, but the people are still there. Everyone's Just zombies now. Thousand yards, thousand JPEG stairs.
- [25:22]
A
Waiting for a Lazarus moment, a miracle to bring it back to life. We are CleanSpark, America's Bitcoin miner. A publicly traded company with the largest, largest operating hash rate powered entirely by self operated infrastructure across four states. This is our proof of work. We are setting the standard for what's next. Learn more about the intersection of energy and bitcoin@cleanspark.com GP news.
- [25:56]
B
Welcome Mike, to the show.
- [25:58]
C
Morning Colin. Morning Charlie. How are y' all doing?
- [26:01]
B
Fantastic.
- [26:02]
A
Yeah.
- [26:02]
B
You're with Luxor. We love to have Luxor folks on regularly and we're going to switch from the news today and we're going to talk about, I would say more substantial stuff, so AI, but we got to anchor this in like the physical hardware side. I'll toss it to Colin.
- [26:17]
A
Yeah, if you're interested in the esoterica that are GPU market dynamics, hold on to your seats y', all, because that's what we're going to be covering here. Mike, before we get into this, can you just give people a little bit of background on yourself and what you do at Luxor specifically.
- [26:32]
C
So here I'm the principal CPU and GPU sales associate handling all things AI hpc, GPU related. So that includes site development, hardware selection and acquisition, monetization of that hardware deployment, financing all over the place for anything AI, gpu, cloud related. Before that as with Dell, for about seven years. As a solutions architect and sales executive, I've also been with Cogent, that's one of the world's largest ISPs.
- [27:04]
A
So to set the stage for this, a lot of the folks listening to this who are interested in mining will be somewhat familiar. You know, there are varying levels of familiarity I think, but pretty familiar in a lot of respects with the ASIC market. And when I think about miners going and, and sourcing as six, I know I'm going to be dumbing it down a little bit. But the, the considerations are pretty simple, right? It's like what's your power cost? If it's higher, usually it means you want to go for a lower joule per tera hash, more efficient machine. If it's lower, you might be more comfortable moving up the curve to a higher joule per tera hash machine and saving on CapEx. Right. And so the basic idea is just like you're kind of balancing your operating cost versus your capital expenditures for hash rate. When you're expanding, you're looking at hash price to see what you can actually sustain. And then obviously you're thinking about depreciation, in which model? You know, some models are better than others, yada yada. But the general idea is that you really only have to worry about one form of compute shot. 2, 5, 6. You're just producing numbers. What layers of complexity does the GPU market add to these equations for Bitcoin miners who are expanding into this product line that they didn't have to think about with asics?
- [28:14]
C
So the first thing to understand is that it's a different business model. Asics, you plug them in, you boot them up and it starts generating hash rate. With GPUs and anything cloud related, you're really more of a like a landowner, you're essentially becoming a cloud operator, cloud service provider. And then you have to find a way to bring that to market. So that's where monetization gets to be important. You know, the big thing that everybody sees are these pubcos that are signing these, you know, 100 million to billion dollar deals and everybody wants to win the lottery. But the reality is, is that there's a large spectrum there and there's a lot more complexity to the hardware, there's a lot more complexity to the sites and all those factor in to how you'd actually procure the GPUs and how much money you're actually going to make off of it.
- [29:04]
B
So with, with Asics you, if you want to upgrade, you unplug the rig, you just sell it, often direct or through third party brokers, because, you know, ASICS have fewer variables. What's the secondary market look like for GPUs? I mean, is there much of a robust secondary market?
- [29:25]
C
That's, that's a huge question. The tail end of GPUs is kind of unknown. You're still seeing a 100 GPUs being at 90 to 100% consumption rates from a lot of the Neo clouds. So the actual utilization rates on those and the depreciation isn't quite known yet. H1 hundreds and H2 hundreds are still very much in demand. H200 is in a interesting space where it's kind of been end of sales life. It kind of hasn't, but you're still seeing these things trading and you're seeing the values go up of some of these end of sales life systems that have been on the market for five years. B200 and B300 due to some of the supply chain crunches, are in a lot of demand. You have to get allocation and the prices keep going up. There's a huge RAM shortage right now that's affecting both used markets as well as new markets. So the tail on these and because of the capital being invested in them is, isn't quite known, but they are still profitable, even the older generations.
- [30:31]
A
So is the consideration there basically whether you get older GPUs, you just need to find the right form of compute for them. Put another way, GPU might be older and it might not be able to keep up with new demand or demand from new AI services or new HPC services, but if you can find a kind of older form of compute or a less intensive form of compute for that machine, you can basically keep it active as long as you have a customer for that. Is that the idea?
- [30:57]
C
Essentially, you know, it's, it's important to think about compute in AI as being a way that's going to be relevant to that market. So there's training, right? LLM training that everybody's familiar with. Then there's inferencing which is running those models that you've trained and then there's agentic, which is basically using inferencing models to run other inferencing models. So not all of those workloads are the same. You don't actually have to know a ton about the models that are being ran on these, but you do have to know sort of where they would be located. A lot of that can factor into your fiber connectivity between sites. You know, a real world example would be if you're running an inferencing model that's being used on self driving cars. There's latency to send data back and forth between the car and the server. So that has to be very physically close within 100 miles. If you're doing training, you know, if you're, you're entering ChatGPT and querying it, 30 seconds to a minute isn't going to change anything for you realistically in getting a result. But if you're driving a self driving car, you need that down to the millisecond. So the site location can sort of determine the workload that you'd run on it and determine the hardware that you'd want to procure in order to run that with.
- [32:17]
B
With Bitcoin mining like the miner just has to turn on and run efficiently. You have to someone's going to purchase your compute at a globally at a price that's equal to all your competitors. But with GPU or just AI compute, it seems to me like your counterparty and like who you're selling to is equally as important. To the deal. Am I correct? And maybe qualifier tease that out a bit.
- [32:40]
C
100%. Yeah. So there's a couple of different ways that you can, you can sell that. And scale gets to be an issue here. So typically you get higher demand and longer contracts for consuming your computer if you've got a higher number of GPUs. So let's say you get a contract for 100H100 GPUs for six months to a year. Well, you've sold essentially all of that compute 100% dedicated to that one end user. You've got a contract for it and you can sort of negotiate the terms there. Maybe you're getting $8 per GPU per hour. So that can be very profitable. Now if you're selling it, you know, on spot on an open marketplace, you might only get a buck 50 to 2 bucks for that same GPU. So finding that end user or working with a monetization partner that can help you do that or pair you with a contract is extremely important.
- [33:38]
A
This has always been what's blown my mind about miners who are expanding into this is you already mentioned some of the networking complexities with making sure that sites are communicating properly to make sure that a cluster is operating or to make sure that the, the computations are doing what they're supposed to be doing.
- [33:53]
B
And.
- [33:53]
A
But then we didn't even touch on then, but you just did this idea that you actually have to go out and do business development when you're running one of these clusters. So on that note, what is, what are your opinions on miners who are deciding to go the PowerShell approach? That is they're saying we're going to get the power, we're going to build the shell for a data center. You bring the compute and you run it versus a miner like Iron or Hive that's saying actually we're going to run the clusters as well. Do you have a preference?
- [34:20]
C
Yeah, yeah, that's a really good question. One of the, the big OPEX concerns that people don't think about coming from the mining side is about network uptime. And having a network admin can really affect your opex. Setting up as just a colo can be really good but you're not going to pull down big contracts unless you're Tier 3 certified as a location and you can prove that you're, you're capable of keeping those places up and running. So you know an iron bit deer some of these other large companies crusoe when they made the pivot more towards AI, they're able to prove that now with just spinning up the. The site, you know, yeah, you can probably find someone who will put their systems into your location. And I've met people that have done that successfully. But where a lot of these companies are making the majority of your margin is run the actual hardware selling that compute and then getting at least a revenue share off of that rate, there's
- [35:27]
A
a higher risk, higher reward in some ways. And sorry, Charlie, before you jump in, just one last question with that. Is that one way to read Iron's pilots? Because they did like, much smaller deployments before they started moving to these bigger you, before they started saying, okay, we're gonna outfit hundreds of megawatts for this compute.
- [35:45]
C
Right.
- [35:46]
A
Is that one way to look at it is like they're, they're basically running these, these pilots to prove that they can have the tier three uptime 100%.
- [35:54]
C
And, and that's something that I work with customers every day around is helping them grow to the point where they can actually prove that it's very easy to go out and buy containers and to pay someone to dig some fiber trenches. And you know, it's a, it can be tough to find enough power for a gigawatt, but you might be able to find a few megawatts. There's. Which is great. But proving that you can actually run these systems is what's going to help you build your, your business's reputation to where you can start talking to some of the hyperscalers or getting some of these larger Neo cloud contracts.
- [36:31]
B
You know, it pains me like, deeply to hear you say it's fairly easy to buy a container and do that because, like, as a former bitcoin miner, oh man, that was some of the most difficult stuff I've ever done. But I think it was a skill issue on my part. Okay. So I was listening to a podcast, I think with the Microsoft CEO Satya Della. Anyway, he had a really interesting comment that stuck with me about like, why Microsoft is pulling back investment on some of their like, giant data centers. And it's not because they're not bullish on AI compute, but rather like it's really con. It's. It's like it's very hard to bet on the specific type of AI compute and how you build out these data centers. And like, to me, when I look at like bitcoin miners, it's like scale efficiency and you just. And the compute itself doesn't structurally change. This is not the case in AI. I'm curious your thoughts on this.
- [37:25]
C
Like yeah, yeah. So a lot of, you know, the, a lot of the GPUs maybe a couple generations ago were very specialized. Right. Maybe you could get a GPU that was really good at inferencing, like an A100. Sorry, A100 would be good for training. Or L40 might be good for inferencing. They're really good at only one compute or the other. And since then that's been unifying. And with like the Blackwell generations. B200, B300, they're both really good at doing both of those workloads. They are extremely expensive. To get a single host of B300 Marketplace is insane right now. But maybe 500,000, probably by the time I get off of this, it'll be 550. So it's, it's a lot of capital for those. Not every site that you pick, and this is where miners are going to be more comfortable with it, not every site is going to have a really competitive energy rate because it takes a lot of power to run these. You also have to factor in cooling. You know, with Microsoft's idea of, hey, it's hard to bet on this. True. I also spent close to a decade looking at compute sizing from a lot of different companies. And most cloud workloads people are not taxing their compute particularly hard. So until we see the market not having a place for Those older generation GPUs that are a little less powerful, I think there's still going to be money to be made. Workloads are changing all the time. You know, I've just received an update on how we're using AI internally, and it's completely different from where we were a month ago. So I think all of these are going to be fully taxed from an investment standpoint.
- [39:15]
A
Yeah, I think, I think that does it for my questions.
- [39:18]
B
Charlie, I have one last question, which
- [39:20]
A
is go for it.
- [39:21]
B
I'm running a 3090 founders edition. It's been great shy. Should I wait to upgrade another couple Nvidia cycles or do I just shell out for the 590 or just the latest AMD? I don't know. Any tips for us gamers out here who are sweating hard? And also my Ram, I can't afford Ram anymore. Holy smokes. My DDR5 is like quadrupled in the past couple months. Mike, tips for the gamers out there?
- [39:51]
C
Yeah, 50 90s. Every time I think that price inflation is going to stop, it goes up. So if you've got a 50 90, you could probably sell that six months ago it was, you know, 22.50 a unit for bulk price. Now it's, it's closer to 4000. Yeah.
- [40:10]
B
So I'm not going to shell out 4k for a 50 90.
- [40:14]
C
I.
- [40:15]
B
My games run just fine on my 3090, but it's rough out there.
- [40:20]
C
And Ram, Ram is even worse. You know, the word on the street was that OpenAI and, and XAI bought all of on the same day, all of the RAM from the three manufacturers that are out there for enterprise grade RAM for the next. So that's cascaded. A lot of your consumer grade manufacturers are shifting over to enterprise. And most OEMs, if you go to them, those prices are good for 48 hours and maybe they'll give you a new higher price when your product's ready to ship.
- [40:51]
B
Holy smokes. Okay, well, Mike, thank you so much for coming on the show. It feels like we can run this back every time the GPU market spikes 50%, which is probably every other week for the next few months. So thanks for coming on the show, everybody. Mike, catch you later.
- [41:08]
A
Thank you, Mike.
- [41:09]
C
Thanks.
- [41:10]
B
All right, we got a couple more news items.
- [41:14]
A
We do have a couple more news items before we get into our cry corner, which is kind of a dual cry corner, actually, because I want the Jane street stuff has a lot of tin foil involved in it.
- [41:25]
B
So yeah, maybe we'll breathe through the.
- [41:27]
A
We're going to throw that in the microwave and let some sparks fly in a minute. But before we start that, I'm going to pop up. Well, if I can do it. There we go.
- [41:35]
B
There we go.
- [41:36]
A
So we're going to do a little bit of earnings coverage. I'm not going to go over numbers. I'm not going to bore you all with that. If you want to check out our coverage of all of the major public miners that release earnings this week, specifically Mara cipher, American Bitcoin, hut 8. I might be forgetting one in there. Terra Wolf, if you want to look at those, head over to Blockspace Media. Keyword those in the search bar. You can look at the financials for those companies. We covered all of them in our daily coverage this week. But I want to focus on a few qualitative things first. We'll start with this Mara earnings call. They reported 907 million full year revenue. Lot of money. You know, go, go dig into it. See how much of that led to any profitability. But the biggest part of this news item was concurrent with their earnings. Mara announced that they are leaning hard into AI and hpc. For the first time ever. So they've established a joint venture with Starwood Capital Group to develop A and HPC sites across existing infrastructure. The partnership targets roughly 1 gigawatt of near AI capacity with a passway for more than 2.5 gigawatts. Over time, it looks like they're going to be focusing on their sites in Texas, mainly Granbury and Garden City. And for some background, Starwood Group is not a NEO cloud or hyperscaler or anything like that. They're specifically an investment and development firm that focuses on digital infrastructure. So they invest money into basically building out data centers.
- [43:08]
C
Right.
- [43:09]
A
So this isn't a deal in the sense that MERA now has a partner lined up to do AI services and do compute services. They do have a partner lined up to develop their existing sites for that in the future. So just wanted to make that distinction because when you read these headlines, sometimes the market treats it all the same. It's like, oh, they're jumping into AI. This is the most definitive step they've taken, I think you could say, at least in the US market to do this. Of course, they also recently closed on their bid for Xion. That closed I believe last Friday. Last year they announced that they were going to take a 64 controlling stake in Exion, which is the data center subsidiary for, for the electricity de France, which is the national energy company of France. There was a lot of of pushback or not a lot of pushback, but the deal kind of got drug along originally. The French treasury approved it. Then officials said, hang on, wait a second. This American company is coming in, going to take a controlling stake in one of our data center companies. We don't want to make sure there aren't any sovereignty concerns. The French brought in billionaire Xavier Neal to sit in on the board and also take a stake in the in mayor of France, which is, you know, a subsidiary for the takeover of Exion. There's this whole web of ownership. All that being said, that was completed recently. So within the span of two weeks, you have two big news items from MERA for their entrance into AI and HPC by taking that controlling stake of Xion. And now this announcement that they're having a joint venture with this company, Starwood, to develop AI and HPC data centers here in the US and as friend of the show Reggie Smith, analyst at JP Morgan, said in a note that was released last night on this, better late than never to the party. He said it on an earnings call too. He congratulated Fred and the team and said welcome to the party. Because Amera famously said last year they didn't think that they were going to make a leap into this market, or at least not in the way most other firms were doing. They were kind of cagey on the language as to what that would look like. Now it seems like with all the other miners, they're running full bore into it. And speaking of running full bore, last point on earnings calls, Charlie, and then I'll shut up. Another one that I wanted to highlight was Cipher Digital, formerly Cipher Mining, now rebranded to Cipher Digital. Two things. They sold one of their sites to Kanan this week as they continue to divest away from bitcoin mining. But they are also committing to selling their entire bitcoin treasury through 2026. As they look at AI and HBC business lines.
- [45:47]
B
And that, I mean, that puts. That's every. That's like, that's two big ones dropped this week for their Treasury. The Cipher and Bit Deer.
- [45:56]
A
Yes. Bit Deer already sold all of theirs.
- [45:58]
B
Yeah. Bit Deer already sold.
- [46:00]
A
Yeah. Bit Deer divested completely of their bitcoin holdings and Cipher saying they're going to do the same thing. And just to highlight this point too, as we point out in this article, Kanan purchased Cipher's joint venture stakes in its bit and some of its bitcoin mining operations. And so, you know, once again, just kind of pointing to the fact that these bitcoin miners are exiting bitcoin mining entirely. And if you, you know, it's getting serious when they're deciding to sell their bitcoin treasuries. Because one of the early, you know, bull cases for these bitcoin miners in 2020 and 2021 was that they were kind of these proxies to bitcoin exposure. You know, strategy was, was not a household name at that point. They were just booting up their strategy as a bitcoin wrapper for Wall street. The Bitcoin ETFs though, came and totally shattered this. If you look at correlations between bitcoin mining stock prices and bitcoin's price, it degrades by the time, from the time that the ETFs come out until now. I haven't run the analysis in a while, but you can see the correlation breakdown. It used to be super tight. Whenever bitcoin would rip, they would rip. Whenever bitcoin would which the bed, they would also crap their pants. But now that correlation, it's still there. It's just not as strongly defined as it used to be. So for these bitcoin Miners, it really does make sense if you have this bitcoin treasury and you're not leveraging it by lending it out and making some yield on it. And even if you are doing that, you're leaving money on the table probably for these expansions and, and pivots into AI like that's capital that you could be deploying otherwise to grow your business into this new sector. So it makes sense to me. I'm kind of surprised it took this long, honestly. I'm sure a lot of these miners are probably kicking themselves for not doing this last year. I mean, we kind of have seen this before though in 2020 and 2021, some of the bitcoin miners actually, or last cycle they actually purchased bitcoin, you know, and then they ended up selling it in the bear market.
- [47:58]
B
Yeah, I like, okay, we've talked, we've kicked this dead horse so much about like buy treasury strategy for miners. Like, you don't see other commodities producers really do this. They hedge, they don't stockpile. So yeah, I will say I was kind of disappointed in other media. Gotta pat ourselves in the back here because other media would be like, bit deer. Bitcoin treasury company sells. I'm like, that's. No, that's not the headline. They're not a bitcoin treasury company.
- [48:22]
C
These are.
- [48:24]
A
Anyway, Yeah, I think treasuries.net, which classifies
- [48:27]
B
them as a Treasuries company, which is very misleading. But shout out to bitcoin treasuries.net just like, come on.
- [48:33]
A
Anyway, those are just a few of, I think the more salient points that came out of earnings calls this week and earnings releases. If you want to look into the actual numbers, go check out our coverage on the website. You can get into all that boring stuff. So if you've been paying attention to bitcoin Twitter this week, you might have seen people insinuating that Jane street is why bitcoin has been selling off since October. And the reason for this is they're basically connecting the dots between the current market action and this lawsuit that the Terraform estate has levied against Jane Street. So this week, one Todd Snyder, who is the administrator of the Terraform estate, according to the Delaware bankruptcy proceedings for Terraform. For those who don't know, Terraform is the parent company for the Terra blockchain and the Luna and USD ecosystem. I recommend going past. You sound insane trying to explain this because like there are many different actors.
- [49:32]
B
Basically it's Mike, it's like if MicroStrategy's stretch product were a crypto degen thing.
- [49:37]
A
That's actually not a terrible. I'm right, that's not a terrible analogy. So in 2022, an algorithmic stablecoin UST blew up spectacularly. And depending on who you ask and what angle you want to take, this was the spark that the fuse that eventually blew up FTX and destroyed the market in 2022. But the way this ecosystem worked is that it's algorithmic in the sense that market incentives and this dynamic between UST and a companion token called Luna would basically keep the peg at roughly $1. So if UST traded above $1, traders could burn $1's worth of Luna to mint one UST and then maintain the peg. And it works the other way on the way down. If USD fell below $1, they could burn 1 USD and receive $1 of Luna as a result. What the lawsuit alleges is that this former Terraform intern named Bryce Pratt, who ended up joining Jane street in September 2021, he was a intern, a software engineer in the summer of 2021 for Terraform before he joined Jane street, basically used insider information to trade against the Terra ecosystem. And I recommend you go and read the full article because I'm giving a truncated version here. The basic idea is right before the depegging event in May that basically destroyed UST and wiped out the ecosystem, the Terra team moved or announced it was going to move all of its ust, that's the stablecoin out of a curve liquidity pool. Now this liquidity pool is not endogenous to the terraform ecosystem. These liquidity pools were defi pools where traders would deposit currencies and then you
- [51:31]
B
could how they generated yield to pay out the terra.
- [51:35]
A
Exactly. And it was a place where traders could trade UST for other stable coins. It was a way for them to generate yield like Charlie said, to pay yield on the Luna token where our US staking which was like 20%. It's just like a crazy interest rate first of all.
- [51:53]
B
That's why, that's why they loved it because of the. The absolutely juicy.
- [51:59]
A
So that's something that's really important to, to point out is you could stake USD at this time and you would make 20% interest from staking it. Crazy return. But in April and mid, in mid April Terraform announced that it was reducing that interest rate and it was also migrating the UST it had staked in this curve pool to a new pool. They didn't say how much they were moving and they did not say when they would be moving it. On May 7, they ended up withdrawing 150 million from the curve pool to move it to a new curve pool. And within like 10 minutes of them withdrawing that Jane street then sold 85 million UST from the pool that Terraform migrated their 150 million out of and it tanked the US price to about like 80 cents on the dollar. And then you basically had this kind of tortured multi day depegging event where it almost recovered ust and then it ended up crashing to the ground. But in this lawsuit, Snider, on behalf of the Terraform estate alleges that Jane street used insider trading to make that sell. Because you know, Jane street or Terraform didn't announce that they were withdrawal when they were withdrawing and how much they were withdrawing from the curve pool. But then Jane street hopped on right after they withdrew their money and then it ended up tanking the price. Now two things here. They say that they profited on this and it's heavily redacted in the lawsuit. So it's never really made clear exactly how they profited. Like did they buy back lower and then when the UST price bounced back, did they sell right before the thing completely crashed? The other thing I would say, I'm not saying that Jane Street's innocent, I'm not saying they're guilty, but you don't necessarily need insider information to have bots that are tracking fund flows from a pool that is complete, that is all the data is on chain. So like Jane Street, I'm just playing devil's advocate. Jane street could have had a monitoring system set up to where they saw the funds leaving the curve pool and then they decided to execute a cell. Now that being said, the weird question, and this is a weird question, why would you do this if you. Because these are quant traders, they're not stupid. You know that if you sell $85 million of this highly, how should we say, feeble asset in the sense that this algorithmic stable. There were a bunch of problems with these in terms of the market incentives. Any sort of sell pressure like this, even on a pool like the curve pool is going to exert pressure on the USD price. So why would you market sell $85 million into an extremely thin liquidity pool unless you're trying to mess with the price of that algorithmic stablecoin. That's playing Devil's advocate on the other side. There's no really good reason to do that unless you think two things. One, I can profit off of destabilizing this or two. Oh, crap. Maybe the insider information is they knew the ecosystem was close to collapsing anyway and they wanted to get out total speculation. We don't actually know that. And I want to leave that there before I get into the thread that people pulled for this, for what this means for bitcoin currently. But I want to give you a chance to.
- [55:12]
B
I mean, I will say, you know, didn't India ban Jan Jane street from trading in the country of India because of shenanigans or something? Like they extracted a lot of money from like Indian retail traders. And then also, you know, who just. Just put it out there, you know, who's ex Jane Street, Sam Bankman Free.
- [55:35]
A
And so this is where the conspiracies come from. Also, Jamie fact checked for us. And by Jamie, I mean Claude. India's market regulator did ban Jane Street.
- [55:46]
B
There's a millionaire, and we will let you make those.
- [55:49]
A
Yeah. And so what Charlie said is salient about Sam Bankman Fried, specifically because this whole lawsuit has led to a kind of flurry of conspiracy theories that culminate on the idea that somehow Jane street is behind bitcoin's current anemic price action. To the best of my understanding, here's where this comes from. After the lawsuit was filed, bitcoin surged at the exact same hour or roughly around 10:00am ET, which, you know, these theorists say is roughly the time frame when you see bitcoin market dumping every single day, or at least trading downward as the market opens in New York. The idea here is that Jane street is a. Is a qualified participant in a number of Bitcoin ETFs, which mean they can make and redeem. They can make and redeem ETFs, Bitcoin ETFs, at the source. So Jane street can go to BlackRock and they can say, Here's 10 bit. Here's 10,000 Bitcoin. We want 10,000 Bitcoins worth of ETF shares, and they can also redeem ETF shares for that bitcoin. The idea here is that they're basically creating false claims to then pull out bitcoin that they never actually owned or don't and never, you know, traded, traded for. And they're then taking that bitcoin and then market dumping it and selling the actual spot bitcoin on market. That's all conjectured. There's nothing to actually link these two things. And there have been a number of rebuttals against this in the sense that this really is one of those Kind of wacky conspiracy theories. You know, kind of getting in the realm of Alex Jones here where Jane street is some deep state ploy to destroy bitcoin. I just think it's worth addressing here. If you want a pretty cogent takedown of this with someone who knows how these market dynamics work pretty well. I would, I would recommend go checking out Jeff park on Pro Cap, formerly Bitwise. He has a pretty good analysis of this whole thing. But just to recap on that, this lawsuit basically led to this, this pretty crazy conspiracy theory that Jane street is creating paper claims on bitcoin to drive the price lower. And how do we know this? Well, bitcoin pumped after the lawsuit was released. And also they've done shady stuff in the past, allegedly with Terra, so maybe they're doing it now. Oh, and also Sam Bankman fried. I mean, it is a little bit of Charlie from Always Sunny in Philadelphia next to, you know, like I would
- [58:22]
B
say you're not wrong. It absolutely does affect bitcoin's price. My response is you're trying to connect dots where just like the, like the simple answers way, way clearer. People selling bitcoin, there's better trades out there. It's not like the darling child. It's not some grand conspiracy. Blackrock isn't suppressing the price. People are probably trading IBIT options and like doing some kind of weird hedging shenanigans which affects your intraday or maybe week to week price. But like, that's not why bitcoin's at
- [58:54]
A
65k and we don't see any of the levers. And like the precious metals market, like with margin requirements at Comex that people usually point to to say, see, you know, paper claims on precious metals are keeping the price suppressed. We're not seeing that within the bitcoin market. Doesn't mean that things can't be done to play with the price. It's just, it's usually more boring than people make it out to be. If that is happening. And it has something more to do with maybe incentives in the market rather than like one actor pushing the price down. But fun. We love conspiracies on the pod. Fun.
- [59:28]
B
But you have, we have cry corner. We, you know, we should probably add a conspiracy corner. That'd be way more fun. Okay, yeah, the end of this. We're going to wrap up with strategy, the most shorted stock of the week. Absolute banger Cry corner here. Sorry to all the strategy owners, but the Wall street hates your stock right now. I thought this was a Rumor, but it.
- [59:53]
A
I did too. When you brought it up in the chat, I thought there's. Is that really. Is that true? How does anyone actually know this? This is data from FactSet, compiled by Goldman Sachs Investment Research. And if y' all have to squint to look at it a little bit. But if you look here, this is a. This is a table of 50 stocks over 25 billion with largest short interest as a percentage of market cap. Currently the short interest as a percent, a percentage of strategies. Market cap is 14% and it's the highest on this list. So if you're looking at this, you can kind of read this one or two ways. Short squeeze incoming. All the haters and disbelief as strategy goes to the moon or. Holy, it's starting to get real. Strategy is getting absolutely pummeled. I don't have anything else to add to this.
- [60:39]
B
I don't really have anything else to add there too.
- [60:40]
A
Except I guess the one thing is strategy did have its, like, strategy. What is it?
- [60:46]
B
Strategy World Conference pick up for corporations? Strategy World Strategy Universe. Well, it's like Disney, you know, Strategy.
- [60:52]
A
Strategy World is amazing. It's like Epcot except like the, except the, all the rides are just sailor like, ranting at you about why you should sell your house and mortgage it or whatever to buy Bitcoin.
- [61:04]
B
Yeah, they. Their, their imagineers are working overtime to come up with new financial products, adding new, new points to their star, which is totally not a Pentagram, bro. Okay, on that note, we're going to wrap this up before the strategy goons come and haul us off. Michael Saylor, come on the pod, please. We'll be way nicer than to you. We won't. We won't be so harsh as Danny from what Bitcoin did. We'll, we'll, we'll, we'll. We'll suck up to you and we'll. We'll only give you lauding praise. So come on to the pod. Hope to see you soon. Like and subscribe. Make sure to hit up other block space stuff. Bye. Hey, this is Charlie and Colin from Block Space Media, and you're listening to the Block Space Media Podcast, a show about emerging tech in Bitcoin, AI energy and markets.
- [61:55]
A
We publish two interviews weekly with CEOs, investors, analysts and anyone else of consequence within these spaces. Plus, we have a weekly news roundup for all the important stories you might have missed from that week. The show is perfect for retail and institutional investors, analysts, and really anyone who wants to keep their finger on the pulse of the stories. That are moving Bitcoin and energy and data markets.
- [62:19]
B
So if you've stumbled across us, make sure to search Block Space wherever you get your podcasts and on YouTube, hit the subscribe button. Give us a rating. We produce bonus podcasts and other content on our main feed, so you don't want to miss that.
- [62:32]
A
And if you have any feedback or comments to give us or shows that you would like to see and topics you would like us to cover, hit us up at. Hello Block Space Media.