Senior Vice President, CLEANSPARK INC
How CleanSpark Continues Adding Compute Power with Harry Sudock ⚡
Join me as I review How CleanSpark Continues Adding Compute Power with Harry Sudock.
We talk about Harry's background and how it's positioned him to find ideal pockets of power across the US.
CleanSpark bitcoin mining numbers, cryptocurrency mining investment, CleanSpark growth strategy, Canaan miners, Bitmain miners, Bitcoin mining hardware, CleanSpark news update, blockchain technology advancements, investing in cryptocurrency miners, CleanSpark future plans, energy costs.
Chapters:
00:00 - Channel Theme
00:10 - Intros
00:48 - Background
02:25 - Lessons Learned
04:24 - Harry's Role at GRI...
About Harry Sudock
Harry Sudock, Chief Business Officer of CleanSpark, discussed the company's recent AI and high-performance computing (HPC) data center project in Sandersville, Georgia, during a July 2026 interview. He described the 250-megawatt campus as a "true triple net transaction" with a headline value of $6.6 billion, and noted that the site had been a flagship mining location for CleanSpark for nearly four years. Sudock stated that the company holds a 2.1-gigawatt portfolio, with 1.15 gigawatts either leased or under letter of intent, and that it is pursuing additional growth in Georgia, the Midcontinent Independent System Operator (MISO) region, and the Electric Reliability Council of Texas (ERCOT) market. He emphasized that CleanSpark finances projects at the project level rather than the parent level, using collateral such as power contracts and hard assets to secure lower-cost capital. In a separate presentation, Sudock argued that "proof of work" — a concept he associated with Bitcoin, energy generation, and data center compute — is being injected into the broader economy and can revitalize communities that lost manufacturing and technology investment. He described proof of work as a "fundamentally decentralizing force" that provides opportunities for "dignity and prosperity" in regions such as rural Georgia, Tennessee, Wyoming, Texas, and Nevada. Sudock also criticized what he termed the "high-velocity trash economy" that he said has existed since the end of the gold standard in 1971, and advocated for a return to principles that prioritize genuine value creation over centralized control.
Transcript (54 segments)
E
Ernie0:11
All right. Well, Harry, it's great to see you again. Second year in a row. How have you been over this past year?
H
Harry Sudock0:18
It's been great, Ernie. I appreciate you having us back and coming out to Vegas for the conference. It feels a little bit like Bitcoin Data Center Super Bowl, which is fun. I think that the last year has been one of a lot of transition but also really positive. Our portfolio's grown, the management team's aligned in a new way, and both of those have been huge positives for everything that we're kind of getting after over at CleanSpark.
E
Ernie0:47
That's awesome. Well, I want to start out with a little bit of your background in case there's some investors maybe new to CleanSpark or just new to Harry and may not necessarily know. So, we're going to go back quite a bit and then we'll kind of step into it in your current role. But first question I wanted to talk to you about is you transitioned from building fintech optimization tools, analytics for hedge funds originally through with Enso Financial Analytics and then also helping out with some of the Eastwood analytics. After that, you joined Grid. And you were there for quite some time. I believe according to some of the research I had, you were one of their very first employees back in 2018.
H
Harry Sudock1:25
The first. It was our founder and me, two guys in a WeWork. And like any good startup, it starts with two guys meeting in a chat room on the internet. So we have sort of our version of the startup story that was really fun and really gratifying to go from zero to public company through acquisition and kind of be able to bring a lot of the people that helped grow that business along the way and integrate them into CleanSpark. You know, if you look around our team and our booth today, a lot of those folks were people we hired many years ago on the Grid side. So Rory, who you know, came from Grid. Chad, our Tennessee regional operations manager, he covers all of our Tennessee assets. He was a Grid hire. A number of other folks on the team have taken on real leadership roles within CleanSpark, which makes me really proud because we were able to find and grow them in our previous business and then open up a much bigger opportunity after the merger.
E
Ernie2:24
Absolutely. If you can maybe another aspect of some of your earlier career is how you were able to kind of take some of the specifics and lessons learned from your traditional finance side of things. Similarly how Rory kind of started out on that side of things, he's doing the majority of the same now with some of the derivative tradings, but you are now in a different type of role and we'll get into that a little bit later on. But how would you say that initial exposure to finance, everything like that, what was it from that that kind of then drew you into Bitcoin and how do you think you're able to kind of leverage that or kind of see that through a finance type lens?
H
Harry Sudock3:02
Yeah, so I think what was really important about that experience and really that kind of education is it taught me how financial markets function. And so that brought me to Bitcoin on the one hand, but it also made me feel really well informed to take on a leadership role in a public company because at the end of the day, you have to understand how your key investors and counterparts interact with the financial markets broadly and then how do you as a public company issuer slot into their set of priorities, needs, incentives, etc. And so what I loved about the time at Enso is that it really taught me from an operational perspective how hedge funds work. And so what did we build in that seat was all of the back and middle office optimization, all of the stock loan. So you published great research about the short interest, right?
E
Ernie3:57
Yes.
H
Harry Sudock3:58
We built out entire products around optimizing how do you go short companies for these hedge funds. And so while we're not a fan of getting shorted, having that deep fundamental understanding of how market structure functions around some of these trading vehicles, that's really valuable to us as we look to build an operating business that then lives within the public markets.
E
Ernie4:21
That's awesome. That's interesting for sure. So stepping now into a little bit more on the Grid side of things. One of your executive roles there would be your Chief Strategy Officer. So now we're kind of getting a little bit closer to what you may be doing now for CleanSpark. But through Grid's initial growth and then through the eventual acquisition with CleanSpark, what were some of the most memorable changes or transformations that you saw maybe going from employee at Grid and then kind of transitioning into an employee at CleanSpark. What are some of the lessons learned that you took from the Tennessee sites, understanding how to operate multi-site Bitcoin mining sites through Grid and then obviously now take it into CleanSpark and now we're multi-state. Just if you can maybe just give a little bit of detail on that.
H
Harry Sudock5:12
Yeah. I mean, I think the first is that I never read a PPA agreement or an electric service agreement. Like, I'd never been exposed to energy markets prior to Grid. And so, one of the things that I was the hungriest to learn was similarly to the way that I got educated on the way financial markets work, true market structure. I wanted to learn how energy markets work. What are the components of all these things? And then how do you build an operating business that marries into the pockets of opportunity that live within these broader market forces. So a lot of the optimization that we did in Tennessee at Grid we were able to bring to CleanSpark and then supercharge the growth around it. So at Grid we had mid to high double digit megawatts of built-out capacity that turned into many hundreds of megawatts just in Tennessee on the CleanSpark side. And so the real lessons learned were around getting granular and specific in how do you purchase energy to create Bitcoin. Then it was okay how do you go through a scaling exercise because running one ASIC is totally different than 10 is totally different than 100 is totally different than a thousand and now we're operating hundreds of thousands of them. And so having the creative and mental and technical flexibility to jump those orders of magnitude, we were able to get to the tens of thousands in Grid but then getting plugged into an organization that was operating under Taylor at the hundreds of thousands, that was really exciting for us because it brought a deeper level of rigor, a greater level of oversight, a greater technical prowess to the optimizations that were available. So, I don't know if you've seen our command center here in Vegas.
E
Ernie6:59
Not yet.
H
Harry Sudock7:01
Not yet. But we'd love to get you out there to see it. But just the level of eye in the sky and optimization that that team is able to introduce to our mining deployment really is just fundamental to how we try to run with true operational excellence across all of our deployments. And it marries really nicely into our AI ambition because it's going to take a lot of active power management. These are, you know, 99.999% uptime type of opportunities, but the procurement of that power, the management of that power, that's the SLA for compute availability. It isn't necessarily the way that you can optimize the power service into the data center. And so, we're going to bring a lot of our lineage and heritage in energy markets and in Bitcoin mining into the AI opportunity. And that's something I'm really excited to kind of see us bring to life.
E
Ernie7:53
That sounds a little bit like a new coined term, mullet mining. So, that may take a couple minutes on that and then we'll kind of get back to some of these other interesting questions. I got a couple more about your background before we move on.
H
Harry Sudock8:08
Yeah. So, I think Matt's been out there really pounding the table for this mullet mining idea and we think it makes all the sense in the world. It's an idea that we've also been working to rapidly stress test in the tenant community as well, which is the ability for the energy to be managed actively and holistically outside of just the critical IT compute environment. There's a big gap there right now. And so why is that? These sites are built to a particular peak. So think of an energy market. There's peak and there's average. And we know that the whole market is engineered around this peak concept because the hospital can't go out of power, the school can't go out of power, the households can't go out of power. So the whole system is peak optimized and then utilization never comes in at that peak rate. And so there's a lot of opportunity in that gap between peak and average in the electricity markets. In the data center environment, that's actually a microcosm of the same idea. All the PUE is designed for peak utilization. Hottest day, coldest day, most humid day, whatever the case may be. But the average utilization of that PUE energy load is actually lower than the peak.
E
Ernie9:23
Yeah.
H
Harry Sudock9:23
And so that leaves this sleeve of flexibility in the deployed operating model where there is room for load management. There is room for a demand response flexible layer, which is all that we've been working on for the last 11 years. And so having this very flexible sort of buyer of last resort attached to the data center that's the buyer of first, second, and third resort because they need to have that SLA met, but there's still this opportunity for some squishy load in and above that that sits in between that average PUE level and the peak PUE level that the whole site's engineered around. So we think there's a big opportunity there. We think that it's going to come sort of in bits and pieces as people get comfortable with this integrated in. There's got to be some software engineering, mechanical, etc. that's got to get plugged into a deployment of that nature. But ultimately, we believe that monetizing megawatts is our fundamental reason for existence. And this is a way to be able to express that vision across a number of different deployment types but achieve ultimately a higher and better end than if you tried to just do one thing or another.
E
Ernie10:34
Yeah, that's really interesting. So you may know this but my background is actually in power generation. So when our customers, they have basically two different types of natural gas power plants that they'll be running. They're either going to run a base load unit, which means they're running 24/7 at a steady-state type load, which is exactly what you want for HPC data centers. And then they have within that same power plant stack, they actually have peaker units as well. Some of them, one out of three or maybe three out of nine of these power plants are going to be peaker units. So, they're going to be turning ramping up and on during those peak times like you were talking about. So a very hot portion of the day, these peaker units turn on if you're down south. If you're up north and it gets really cold, the same thing kind of happens. So it's a great kind of orchestration that they utilize that for. However, when you do turn on and off those large natural gas power plants, you're actually degrading the actual hardware itself, and that's what we're repairing. That hardware has a specific amount of start life as well as overall hour life. So a lot of units that run this peaker type profile, they end up having to get the parts refurbished a lot faster than if you had a steady-state base load. So when you look at the amount of overall megawatts that are available, even gigawatts that are available, it's really these peaker units that could be running steady-state base load that's going to be able to provide that extra buffer for things like what you're talking about, which is the whole Bitcoin mining aspect. So you're going to find those times when you're not peaking out and you're still going to be able to maintain that and that's going to help the utility company because they can still monetize that excess power.
H
Harry Sudock12:07
Exactly. Exactly.
E
Ernie12:08
So that's exciting.
H
Harry Sudock12:09
The utility wants to sell more megawatt hours without having to turn on more megawatt generation.
E
Ernie12:17
Absolutely.
H
Harry Sudock12:17
And so what we've found is that over the last 30 years we basically have been running, and not we CleanSpark, we America, have been running a variable gen environment with how we do load management on the grid.
E
Ernie12:32
Yeah.
H
Harry Sudock12:33
In the last five or six years we've started to be able to run real demand side variability to meet the needs of the power systems. And so if we can continue that trend we can build more steady-state gen. We can build more flexible demand and we can generate a lower electron cost to a much broader universe of people and that's going to help things like community relations, the attractiveness of bringing a data center to your region. All of those types of conversations start to become about how much can we save the average household on their power, not how much is their bill going to go up.
E
Ernie13:09
Yeah, absolutely. Well, I was going to talk a little bit about your degree being with economics from Bates College, but I feel like we're kind of already past that a little bit, so I'll kind of put that off to the side and maybe instead we can talk a little bit more about how you guys are now hunting that power, how you're able to get in there and do some of the boots on the ground community relations and be able to secure multi-hundred megawatt types of contracts in these different sites. Recently you guys had the Texas sites both at Brazoria County which is somewhere in the excess of about 600 megawatts and then you also have the Celly Texas site which is around I think 260.
H
Harry Sudock13:50
285.
E
Ernie13:52
Thank you. No worries. So with that, obviously I remember on one of the earnings calls you guys talked about the area of Texas, specific area being very fertile for this type of power. Without giving up any of your secret sauce, what's just maybe very broad generic ways that you would kind of go about just screening through all of the various pockets of power that's available.
H
Harry Sudock14:14
Yeah. So let's use those two sites as a case study because we were regionally selective for a very specific reason. We looked at Texas transmission. We wanted to figure out where there was not congestion on the transmission level. We know there's a lot of availability of gen, but it's not just about can you source the gen, it's can you deliver the gen to your location. And so we looked at East Texas and specifically the utility that we're working with there who serves both of those sites. And the feedback that we got, the market analysis insight that we came to is that East Texas transmission is less congested. And so then we started to work down the path of all right where are all of our relationships with developers, with utilities, with communities. How can we start to make the ask which is here's our approximate profile of what looks attractive to us from an AI campus deployment? Where should we be looking? How should we be thinking about this? And so some of the relationships that surfaced are five plus years long.
E
Ernie15:20
Yeah.
H
Harry Sudock15:20
We haven't done a lot of business with them because we haven't come to Texas till now, but these are relationships that we've cultivated for the better part of half a decade. And so they know the type of counterparty that we are. We're very high speed, very high reliability, and very front door approach from a community perspective. And so they look at us not only as somebody who is going to come to that location and execute on the business opportunity, but we're going to create a win-win solution both between the seller, us as the buyer, and as the region from a community relations perspective. Because if we can create that sort of triple win environment, we think that it sets the stage for a lot of scalability not just in Texas but across the entire country because now we've got a rolodex of people who are ready to be a reference for us when we're coming into the next county or city. What was it like to work with us? How were we as a deal partner? How were we as a community relations force for good? And we love being able to do that. And that actually is something we started to pioneer really in Sandersville and in Washington, Georgia, where those were the first people that we had as references for the next round of growth. And then the chain kind of keeps rolling forward. And so, what's the special sauce? A lot of hard work and a lot of investment in relationships. And we think that both of those are things that are hard to replicate quickly. And so we think that our competitive advantage is very durable. And we also think that the opportunity to be able to chase power is one that compounds over time.
E
Ernie17:02
Matt talked about it a little bit in the state of Wyoming. But I'm sure it's very similar to even the state of Texas and other sites you guys are currently running. What's the appetite for these utility providers, these power providers when you're able to tell them, hey, I can actually start plugging in Bitcoin mining machines within just a few months and start paying you for that power. Now, how big of an edge or what does that look like in terms of prioritization for your company when you kind of have that type of leverage, that type of offering to these types of providers?
H
Harry Sudock17:37
Yeah, I think that what's really interesting is that there's some utilities where that is like the single tipping point to get a deal done and there's other utilities where that's less of a priority. But what we're really good at is sussing out what is the right value proposition for the utility that we're engaging with and meeting them where they are to meet their needs. Because we view us as almost a service provider for their priorities in order to unlock this power availability which is what we're seeking, we're looking to buy. And so how can we create the type of incentive structure that makes them really excited to allocate that power to us and those needs end up being pretty diverse. So in Wyoming it was speed to market, no doubt about it. Some places in Georgia that's also a total priority. Other places in Tennessee, it's about being able to look at their demand map and take a look at the hurricanes that came in and were so devastating. How can we renew load demand in places where maybe a factory was taken out and they decided not to rebuild? How quickly can we get you in to basically backfill the loss of revenue from a natural disaster? So, there's a really dynamic and diverse set of priorities that these utilities have. And it's about having deep and open channels of dialogue. It's about being service-oriented where we are here to meet their needs in order to achieve our ends. And then finally, it's just about having an open mind to be able to say we don't know best what's right for your community. We're here to be a new entrant and to deliver and earn your trust in a constructive way, but that involves a lot of listening and learning before it's time for us to have an opinion.
E
Ernie19:23
That's awesome. Well, just to put it out there, I am just a mere investor in CleanSpark. Don't have any kind of affiliation with you guys at all. But what I wanted to talk to you about is actually the stint that you had at CleanSpark, which was part of the investor relations group. Maybe if you can kind of just walk me through the importance of that role for a publicly traded company and then what would be maybe one or two things that you have constantly portrayed as kind of the pillars of CleanSpark to the investor community and then where do you kind of see CleanSpark today?
H
Harry Sudock19:59
Yeah. So number one is that investor relations is something that we at CleanSpark try to do from the executive seat. So we don't want to treat investor relations like a person who's here to hand out talking points.
E
Ernie20:16
Yeah.
H
Harry Sudock20:18
When we go and talk to the investor community, whether it's retail, institutional, bond, or equity, whatever the case may be, Matt, Gary and I are doing 80 to 90% of it together because we have operating roles within the business. And we believe that our operating roles make us the best spokespeople to talk to the investment community because we're able to give insight into decision-making. We don't want to hand out a sheet of bullet points and say, here are the talking points and this is what we think. No, the job is to have substantive dynamic conversation because every investor comes with a set of opinions and they're able to offer perspectives to us that we can't see about ourselves because you can't see the back of your head when you're looking in a mirror.
E
Ernie20:59
Yeah.
H
Harry Sudock20:59
And so you have to rely on those outside viewpoints to tell you what are you getting right, what are you getting wrong, how can we improve. And so for us, it's an opportunity to share our decision-making thought process and it's an opportunity to glean feedback that we would not otherwise be able to have access to. And I think that's what makes the way that I try to run IR very constructive, which is to be business fundamentals first and then feedback second in that process. The other lesson that I think has been really constructive for us is that we love all our children equally, right? We love the equity investors, we love the convert investors. We think about those stakeholders in our cap structure as two of the key reasons why we're going to be successful as we continue down the AI and high performance computing road. Capital intensive projects so we need to be a really good steward as an issuer of all of the securities that we put into market. That means having proactive conversations with bond holders even though they're not going to move the share price.
E
Ernie22:09
Yeah.
H
Harry Sudock22:09
Right. So, the incentive is always to spend all your time with the equity guys. We love talking to our bond folks as well because their credit underwriting discipline helps inform and validate that we're making conservative risk-adjusted decisions on the operating side. And so, we love getting those perspectives. We love making them comfortable and excited about what we're doing today and what we're doing next. And so the last piece of that question was around what are the kind of foundational pillars? I think that it's hopefully pretty simple. At the end of the day, it's energy, it's compute, it's operational excellence, and it's capital stewardship. So why are those four? One, all of our revenue is energy native other than what Rory is doing. So, caveat, but that's not revenue, it's premium. So we think about the business on an energy basis as our most explanatory unit for the business is what are the megawatts and what are we doing with them? Compute, whether it's through Bitcoin mining and proof of work or through an HPC offtake lease, the compute deployment starts to gather these ideas of technical competence, engineering rigor, the type of community relations that we care about. How do we turn one unit of energy into one unit of revenue? That's all compute. Then operational excellence is the way that we think about continuous improvement, absolute dedication to, you know, my first boss you talked about Enso, she taught me a great lesson which is that the rent is due every day. And so we think about operational excellence from this framework which is that the rent is due every day. Just because we did a great job yesterday doesn't mean that we have a pass today to not deliver again and again and again and again.
E
Ernie24:02
Absolutely.
H
Harry Sudock24:03
And then capital stewardship is something that I care a lot about and Gary and I spent a lot of time talking about which is that we are a capital allocation business. When you're in a high capex environment for how you run your business, you have to be thinking in true fundamental capital allocation, return on capital, multiple on invested cash, cash on cash return, IRR. All of these are yardsticks that you can measure against how valuable is $1 that goes out the door, how can that return value to the equity over the long run? And stay laser focused on that as the key deliverable because at the end of the day we spent the last six years with no customers. We're going to spend the next six years with a very short list of customers. And so ultimately we're obligated to the investment community. We're obligated to the communities where we operate our sites. We're obligated to the employees who trust us with their careers and their livelihoods. And so capital stewardship is how we make good on our obligation to all of those different cohorts.
E
Ernie25:07
Yeah, I just want to point out when you're talking about the investor relations portion of it, I think the transparency that you guys have as an executive team is really important. I see that every day. If I'm on social media and all I have to do is look up one of your profiles, not only are you guys communicating of what's going on daily in terms of whether it's Bitcoin, whether it's government relations or what's going on with CleanSpark, you guys are very open to that. And then I even see you guys pretty constantly engaging even with the retail community, the investor community. So, if you're looking at a company that's not the norm from my perspective, from what I've seen and then I think that actually translates when you start talking about the six years moving forward having customers now because those customers, everything on social media, it's got a timestamp. They can go see just how transparent as a company you guys have been. And I think that actually goes a long way as well to kind of build some of those relations.
H
Harry Sudock26:06
I agree with you. I view our public presence as part of our resume, whether it's selling into a tenant environment or whether it's talking to the next candidate who we're interviewing to hopefully get hired at CleanSpark. We view our public presence as part of our calling card. And we think that it's also part of the fundamental proof-of-work mindset that we bring to executing against the business is that if we don't spend the time engaging directly, we're going to miss out on insights into the business that's going to help make the next great decision.
E
Ernie26:39
Well, my last little bit of questions is really on the future of Bitcoin and also the HPC AI side of things. So, just kind of backing up a little bit, for a while, CleanSpark was kind of listed as a pure play Bitcoin mining company. And through that process, you guys were simultaneously acquiring various data centers, various pockets of energy. You guys grew your energy portfolio. Now, it's up to 1.8 gigawatts. The last public announcement that I've seen, so with that, although you've been staying Bitcoin native, it's now opened the door for you guys to kind of look at that through another lens and say of these different sites, which one of these sites could be favorable for HPC AI and how do we capitalize on that in the short term or in kind of the middle term? So, I think it's really interesting. I just want to know what's your thoughts over the next 5 to 10 years? How do you see Bitcoin and HPC kind of working together to be able to provide that maximized amount of monetization of those electrons?
H
Harry Sudock27:45
Yeah. So I think that it's not a secret that we're very very focused at the strategic and growth level on adding AI revenue to our operating profile. That means very tactically lease Sandersville, lease Celly, lease Brazoria and then explore the opportunity to lease portions of the remainder of the deployed mining portfolio as well. It also means that we're going to have a big opportunity if we're able to grow our AI leased and built portfolio. That's a big growth opportunity for our Bitcoin mining business because of that squishy layer and the backside of the mullet. That means that we might wake up in five years and we're mining more Bitcoin, maybe not more Bitcoin from a difficulty and halving perspective, but we're generating more hash rate than we are today, just distributed in a very different form factor across the portfolio. And so I expect AI to be the significant growth leader for our revenue and our deployments over the next short term. But I could also see a world where we see Bitcoin mining growth on an integrated basis into that larger platform of deployed megawatts and we see both segments grow over time. But there's a lot that the market needs to digest and that we as an operator need to digest about how we take that path of travel. But ultimately we believe that being long AI and long Bitcoin is a fundamentally positive sum place to be for the business.
E
Ernie29:15
Yeah, absolutely. I mean just looking at the optionality once you guys kind of have both of those kind of revenue streams when you're looking at efficiencies from site to site you guys can really start to find procurement and labor and power management and staffing and repair and maintenance and preventative maintenance and security and cyber like the list goes on and on about what I'm excited for us to go and drive the bleeding edge of production out of. But there's an order of operations to it that we're very well aware of and we understand the short-term priority, we understand the next priority and then as those priorities are executed against the doors open up for the operational excellence and optimization that we're going to be able to bring across the entire operating business.
H
Harry Sudock30:01
Awesome.
E
Ernie30:01
And so what I've seen, you just talked about kind of some of the priorities starting with Sandersville and then kind of moving over into Texas. Wanted to ask, those are some of the larger megawatt sites that CleanSpark has under contract. There are some smaller sites. I've done a little bit of research to kind of just get an idea about the sizing of that. Obviously guys want to prioritize the ones that are going to help maximize the revenue. Is there options down the road vaguely speaking about looking for some edge compute maybe it's a smaller maybe less than 100 megawatt type site that could potentially have that type of revenue stream?
H
Harry Sudock30:39
Yeah, I think that's super reasonable. Ultimately whether you're leasing a 500 megawatt site or a 50 megawatt site, the amount of work is the same.
E
Ernie30:50
Yeah.
H
Harry Sudock30:50
And so it's important to kind of get your big swings under your belt first because that builds a real foundation for the business, but then the opportunity set for some of these more smaller scale edge style compute, R&D compute environments, like all of the large chip manufacturers and the hyperscalers and the neoclouds and the big labs, all of them are going to have a significant amount of compute R&D demand over time and they're not going to want to run an R&D project at 500 megawatts, they're going to want to run it at five megawatts or one megawatt. And so being able to be a technical leader and find the pockets of opportunity and the diversity of incentives that these other counterparties have and being able to slot in, stay flexible, and meet their needs over time is going to open the door for a lot of different things, we think. But ultimately, we're very focused on one foot in front of the other first. If you can't crawl, you can't walk. If you can't walk, you can't run. And so we want to take that type of orderly approach to the business with knowledge that the better the bedrock, the bigger the opportunity set across the rest of the things we're looking at get.
E
Ernie32:00
Awesome. Well, I appreciate you taking the time with me. We could probably go on and on and talk about Bitcoin and the blockchain, but I don't want to keep you too long. I know you got a lot of other things you've got to still take care of, including actually being a speaker at one of the panels, which I'm looking forward to. So really appreciate you taking the time, Harry.
H
Harry Sudock32:20
Ernie, we love the work that you do. Anytime that we can be an asset for your community or if it's a Spaces or on the channel, whatever you need, I'm happy to participate. Thanks, brother.