Access to power quickly and at scale is worth a lot, says Hut 8 CEO Asher Genoot

Demand & Growth - AI infrastructure is driving significant demand for power, exceeding previous expectations from Bitcoin mining [1][5][9] - The company has gigawatts of assets in its pipeline, with 1,000 megawatts online and 1,500 megawatts being commercialized [3] - Data center campuses are scaling rapidly, moving from 100 megawatts to gigawatts for single campuses [5] Strategy & Operations - The company initially focused on being a low-cost power operator for Bitcoin mining, hedging against crypto volatility [10] - The company is developing new sites specifically for AI, not converting existing Bitcoin mining facilities [12][13] - The company emphasizes colocating power generation close to data center load for efficiency [6][7] Market Dynamics & Competition - Access to power at scale and speed is highly valuable in the current market [4] - The company operates in a co-opetition environment with other players in the power and crypto space [8] - The company's Bitcoin mining operation mines Bitcoin at over a 50% discount to the market [11]