Asher Genoot is the CEO of Hut 8, one of the largest bitcoin mining and AI/HPC infrastructure companies in the world. In this conversation, we discuss the transition from bitcoin mining to AI data center development, the economics of $17 billion in contract value, community pushback against data centers, supply chain bottlenecks, and the future of physical intelligence infrastructure.

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0:00 - Intro
0:45 - Bitcoin mining to AI: the transition
3:09 - Data centers & community pushback
8:52 - Co-location & energy campuses
11:42 - Mega sites vs. smaller urban campuses
13:08 - Hardware innovation inside the data center
17:15 - How Hut 8 lands billion-dollar contracts
20:01 - The River Bend financing structure
24:19 - Build vs. acquire strategy
25:18 - Bottlenecks slowing AI buildout
27:36 - What keeps Asher up at night
30:40 - American Bitcoin update