Is AI infrastructure the next great buildout — or the next bubble waiting to burst?

In this episode, Jake Corley (@jacobcorley) and Justin Ballard (@JLB_Oso) break down what might be the largest capital migration in modern history — the trillion-dollar rush to build data centers, generation, and power infrastructure for AI.

From Fermi America’s $13B IPO to Crusoe’s $10B valuation, from China’s 40-GW dams to America’s permitting gridlock — this one connects the dots between energy, compute, and capital.

We explore:
⚡ The $250B+ pouring into AI infrastructure this year
⚡ How off-grid power and natural gas are reshaping the landscape
⚡ Whether the boom is sustainable — or headed for a shakeout
⚡ Why China’s generation advantage could reshape the AI arms race
⚡ The fusion of AI, Power, and Bitcoin — and what it means for the next decade

It’s AI x Power x Bitcoin — and the lines are blurring fast.

Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) regroup to riff on miner-to-AI megadeals, gas-to-power plays, and a modular ASIC that could reset fleet economics.

AI x Power x Bitcoin

This week we break down:

TeraWulf × Google – a 10-year, 200 MW hosting deal (headline $3.7B; options could push multiyear value far higher) and why clean, reliable electrons (nuke/hydro) earn a premium—and might end in outright M&A.

Who’s Next? – the consolidation map: why Bitfarms (and possibly IREN/Iris) look “target-ready,” what MARA/RIOT are more likely to do, and how miner stock spikes telegraph hyperscaler interest.

CoreWeave–Core Scientific Playbook – how long-dated revenue agreements morph into acquisitions when the real prize is energized, rack-ready capacity.

Coterra’s Power Option – a 7-year gas sale to CPV’s 1.3 GW CCGT in Ward County with the right to buy ~250 MW/day indexed to ERCOT West—the first true Permian netback template and what it signals for E&Ps.

Turbines, Permits & Sudoku – deposits and long lead times, GPA/air permits (NOx/CO₂), and the catch-22 between offtakes and hardware—why scale + compliance + capital win.

Block’s Proto Miner – Apple-clean design, rack-side sub-90-second repairs (as pitched), modular hashboards, open-source fleet software, and a 10-year design life—what that does to uptime and capex cycles.

The AI Arms Race – trillion-dollar capex, billion-dollar talent bids, China’s generation build-out, and why power-secure brownfield beats greenfield timelines.

Where to Find Us IRL – Permian Power Conference (Midland, Sep 29–30) + Texas Capitol investor day/North American Blockchain Summit (Dallas, October).

Chris Kline, co-founder & COO of Bitcoin IRA, sits down with Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) to show you how to turn the IRS into your silent stacking partner.

They break down:

• Tax-Free BTC Forever – how Roth and SEP IRAs let your sats snowball to seven figures without kissing them goodbye to the tax man.
• Checkbook Control – spin up an IRA-owned LLC or trust to self-custody keys, lease tractors, or even run mining rigs—all inside the shelter.
• $69K Contribution Hack – entrepreneurs can shovel up to $69k a year into a SEP and slash today’s bill while super-charging tomorrow’s stack.
• Pentagon of Custody – the security architecture (and Rocket Dollar acquisition) that keeps grandma’s seed phrase off Facebook and ransom gangs at bay.

Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) sit down with Bitfarms power duo Rachel Silverstein (GC & firm-builder) and Alex Brammer (ex-Ranger turned HPC czar) to map out Bitfarms’ high-voltage pivot from pure Bitcoin mining to hyperscale AI infrastructure. They unpack how a 460 MW fleet, a gigawatt development pipeline, and a fresh $300 million Macquarie project-finance deal are transforming legacy mining sites into liquid-cooled, 600 kW-per-rack AI engines. Discover why a “dream-team” exec roster, project-level debt, and a land-plus-power land-grab strategy could vault Bitfarms from blocks to bots—and what it all means for energy markets, AI’s compute arms race, and the future of work.

Rajiv Khemani, co-founder & CEO of Auradine, sits down with Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) live from Bitcoin 2025 in Las Vegas to pull back the curtain on America’s newest 3 nm ASIC powerhouse.
Auradine
They break down:

• Hydro Hash Density – 600 TH/s packed into a 2U rack and tunable down to 13.5 J/TH for “eco-mode” efficiency.
• AI-by-Day, Bitcoin-by-Night – shared liquid-cooling racks that swing idle GPU power into mining revenue in seconds.
• Heat Recapture Hustles – turning spent watts into shower water, fish-farm warmth, and any creative thermal side-gig you can dream up.
• Tariff-Proof Supply Chain – why building chips at TSMC but assembling in the U.S. (or non-China Asia) hedges geopolitical risk.
• $150 M War Chest & Creative Financing – how fresh capital lets Auradine offer pay-as-you-mine terms and sell standalone chips for DIY devices.

If you’re obsessed with mining density, cheap electrons, and staying geopolitically uncancelled, this episode hands you the playbook.

Comedian T.J. Miller (@nottjmiller) drops by to riff with Jake Corley (@jacobcorley) and Justin Ballard (@JLB_Oso) about getting “orange-pilled” by the Winklevoss twins, swapping war stories with Michael Saylor, and why true Bitcoiners keep stacking no matter how “frothy” the market gets. Expect unapologetic laughs, hard-won lessons on dollar-cost averaging, and a spicy take on politicians suddenly chasing crypto clout. Plug in for a fast-paced, no-filters tour of Bitcoin culture—from Broadway dinners to back-stage conference drama—and find out why T.J. thinks hodling might be comedy’s greatest punchline.

Charlie Brady of Bitfufu sits down with Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) to explore the world of cloud mining as a major revenue stream. They unpack the dynamics of Bitfufu's cloud mining operations, the strategic shift from asset-light to owning data centers, and how cloud mining is reshaping the financial landscape for both institutional and retail investors. Discover why cloud mining is a game-changer in the cryptocurrency space and what the future holds for this innovative approach.

Justin Ballard (@JLB_Oso) and Jake Corley (@jacobcorley) sit down with oil-patch veteran-turned-Bitcoin-miner Dan Morrison to unpack Waha-gas economics, off-grid data centers, and why 2025 may finally be the oil-and-gas adoption year for Bitcoin mining.

Show Notes

00:00 Wildlife-podcast banter, Missouri recording location, and Dan’s long-overdue appearance
01:42 First meeting at the 2021 “secret” Houston Bitcoin meetup
03:10 Dan’s background: bankrupt E&P turnaround and “MBA-on-steroids” lessons
05:26 Buying distressed New Mexico assets & naming the venture “Amalgamated Sludge”
07:48 Paying $80/ TH for ASICs at the cycle peak and booting 1.3 MW of self-mining
10:55 Turning negative Waha gas into revenue: hosting deals, vintage ASIC strategy, 8-month ROIs
14:08 Why old oilfield operators resist Bitcoin—and what finally breaks the inertia
16:41 Basis differentials, dashed strip-price hopes, and why 2025 looks like the adoption inflection
19:15 Valuing green- vs brownfield sites for AI: speed-to-energize premiums & $/MW math
22:37 Gas-fired turbines, Elon’s Memphis play, and “BYOP” (bring your own power) legislation in Texas
25:02 “Moat mining”: pairing AI inference loads up front with flexible Bitcoin mining in back
27:40 Hydrocooling vs immersion and designing mines to survive the next two halvings
29:55 EPA rollbacks, CO₂ rules, and a regulatory pendulum swinging toward gas gen-sets
32:04 Ideal 2025 build: low-basis gas, Rocky Mountains or Permian, hydro-cooled S19-class fleet
34:30 Bridging cultures: tech speed vs. oil-patch hierarchy when herding data-center cats
36:12 Texas Mining Fight Club group texts, community collaboration, and swapping spare breakers
38:45 Future meetups, “super-secret” May 19 event, and final shout-outs