TIMESTAMPS: 00:00:00 - Introduction 00:00:47 - IREN 00:01:14 - Daniel Batten 00:02:42 - Bitcoin Mining FUD 00:11:40 - What Has Changed in Bitcoin Mining? 00:15:57 - Ads 00:17:22 - Miners Following the MSTR Playbook 00:29:16 - Bitcoin Mining Supercycle 00:31:13 - Ads 00:32:22 - Miner Centralisation 00:35:00 - Mining Innovation 00:44:40 - The Second Order Consequences of Bitcoin Mining 00:47:40 - Mining for Heating 00:52:45 - Nation State Bitcoin Mining 01:08:59 - Mining Driving Down Bitcoin Volatility