Fred Thiel - Chairman & CEO, MARA Holdings

Fred Thiel discusses the intersection of Bitcoin mining and artificial intelligence, emphasizing the potential for Bitcoin mining to be a flexible energy load that can be shut off when the grid requires it. He highlights the role of Bitcoin mining in maximizing the value of electrical energy, especially in conjunction with renewable energy sources. The discussion touches on the inefficiencies in energy markets, particularly the oversupply of renewable energy during certain times of the day. Thiel explains how Bitcoin mining can help renewable energy generators become more profitable by consuming excess energy. He contrasts this with AI, which requires constant energy levels and can strain the grid. The conversation shifts to regulatory attitudes towards Bitcoin, noting a positive shift in the United States and increasing openness in Asia. He mentions institutional investment in Bitcoin and the decreasing volatility of the cryptocurrency. Thiel also addresses misconceptions about Bitcoin's use in illicit activities, highlighting its traceability.