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.