Join host JP as he speaks with Carson Smith, an early Bitcoin miner and engineer, pioneered immersion cooling with fish tanks and later spearheaded SBI Group's global mining arm, building out over 250 megawatts of capacity, where he developed internal monitoring tools and implemented demand response programs for grid stability. Currently leading 21 Tree Capital, Density AI, and Merkel Edge, he focuses on ultra-low-cost energy for Bitcoin mining and anticipates power costs becoming equally critical for AI data centers due to rapid chip depreciation and market commoditization. Smith emphasizes robust treasury management to navigate bear markets, stressing the importance of cash reserves, and offers entrepreneurial advice on learning from inevitable, even multi-million dollar, mistakes and persevering.

Digital Gold

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From Fish Tanks to Hundreds of Megawatts: Carson Smith’s Industrial Leap

AUG 7, 202555 MIN
Digital Gold

From Fish Tanks to Hundreds of Megawatts: Carson Smith’s Industrial Leap

AUG 7, 202555 MIN

Description

Johnpaul Baric interviews Carson Smith, pioneer of immersion cooling and builder of SBI Group’s 250MW global mining arm, now driving energy-efficient Bitcoin and AI infrastructure with 21 Tree Capital, Density AI, and Merkel Edge. They unpack power economics, demand response, treasury discipline, and the entrepreneurial grit required to survive and learn from multi-million-dollar mistakes.00:01:00 – Early Mining Journey & Technical Evolution00:03:00 – ASIC Development, Fried Cat, and DIY Immersion Cooling00:07:00 – Scale of Early Immersion Operations & Challenges00:10:00 – Career Pivot to SBI & Building a Global Mining Footprint00:17:00 – Large-Scale Deployment Lessons & Mistakes00:20:00 – Operational Tooling for Massive Miner Fleets00:24:00 – Negotiating Energy Contracts & Local Partnerships00:26:00 – Demand Response & Grid Dynamics00:32:00 – Creditworthiness & Capitalization Challenges00:33:00 – Current Focus: 21 Tree Capital, AI Crossover, and Merkel Edge00:36:00 – Power Costs & Strategic Importance (Bitcoin vs. AI)00:41:00 – Small AI Data Centers, Offtake, and Idle Capacity Monetization00:46:00 – Converting Bitcoin Mines to AI & Compatibility Challenges00:47:00 – Cooling Trends in AI Infrastructure00:49:00 – Treasury Management & Preparing for Cycles00:52:00 – Entrepreneurship Wisdom & Closing ThoughtsEnjoyed the episode?If this conversation brought you new insights, we’d love for you to leave a review, it helps more Bitcoin enthusiasts and professionals discover the show.Have a guest you'd like to hear from or a topic you want us to explore? Drop your suggestions in the comments. We’re building this podcast with and for the mining community.@blocksmither Follow JohnPaul BaricX / Twitter: @baricjohnpaulX / Twitter: MiningStore (@miningstore) on X Mining Managed Program by MiningStore is our proven mining formula that delivers constant returns:Bitcoin Managed Mining Program - MiningStore | Bitcoin Mining and Management Bitcoin Mining Hosting that deliversMiningstore HostingEarn Bitcoin at a 60% discount with Bitvault:To The Moon | Join the Green Bitcoin Revolution Are you looking for miners, managed mining, or hosting? Book a call:Schedule a Demo - MiningStore | Bitcoin Mining and Management