Rory Murray, Director of Digital Asset Management at Cleanspark, joins us to discuss his journey from global macro investing to leading Bitcoin mining operations, the Grid acquisition, cost structures, hedging strategies, and how the business is evolving into a hybrid energy‑finance powerhouse.
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Notes:
Clean Spark: “America’s Bitcoin miner”
Margins shrink toward zero over cycles
Hedging via covered calls at $65K
Power contracts lock in multi‑million deals
Bitcoin used as collateral for loans
Goal: monetize megawatts, not just hash
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