"But Ashton Brenner looked past the Bitcoin rigs and saw what these companies actually owned. Vast tracks of permitted land, massive power substations already built and already connected into the grid, and they're sitting on industrial grade cooling systems already installed and already operational."
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… et's get to the next part of this cuz it's very interesting. For years, Bitcoin miners were treated as a giant financial joke, bigger than Bitcoin itself. Companies like Iron, which used to be Iris Energy, or CleanSpark, they were considered as speculative crypto plays, no real institutional respect, just kind of dog [ __ ] companies, essentially. But Ashton Brenner looked past the Bitcoin rigs and saw what these companies actually owned. Vast tracks of permitted land, massive power substations already built and already connected into the grid, and they're sitting on industrial grade cooling systems already installed and already operational. All you had to do, swap out the Bitcoin rigs, stick in some Nvidia GPUs, and you're off to go. You see, building an AI data center from scratch can take years, up to 5 years, when you account for permitting, construction, power infrastructure, all that kind of stuff. It's a nightmare. It takes a long time. But if you take an existing Bitcoin mine, …