Greg Les

Co-Head of Corporate Development @RiotPlatforms

[Greg Les @GregLes_]

A serious government would view this as a serious national security threat that would require full efforts and attention of elected representatives to protect the positioning and advancement of American industry

[Sam Lyman @SamLyman33]

NEW: BPI research reveals that a Marxist-Leninist group with documented ties to China has been a critical mobilizer in efforts that have blocked or delayed $23.6 billion in AI investment in the US.

Its scalps include 10 data center moratoria, 1 permanent data center ban, and 4 rejected or scrapped AI projects.

In Part II of our foreign influence investigation, BPI exposes the Party for Socialism and Liberation (or PSL) as the political arm of Shanghai-based Neville Singham, and lays bare a national campaign launched by the party to stop America’s data center buildout.

Singham is the subject of multiple federal investigations into his reported ties to the CCP. Our research uncovers the anti-data-center organizing of his activist vehicle, the PSL, across 21 campaigns in 14 states, in roles ranging from lead organizer to one member of a broader coalition.

This report adds to the mounting evidence that China and its surrogates are committed to stopping America’s data center buildout so that Beijing can gain the advantage in the AI race.

[Greg Les @GregLes_]

@matthew_sigel Not sure the deal to sell Peak Mining 'fell through'. Reading the PR, ND had an option to REacquire the Corpus Christi site (Peak's largest asset) to sell as an HPC site. This option expired, but the disclosure refers to the "current owners" (no longer Northern Data):

[Greg Les @GregLes_]

@matthew_sigel The initial deal with AMD is 25MW

[Greg Les @GregLes_]

Why were they 100% usage at $400/MWh???? And then back on to 80% at >$200MWh

[Bitcoin News @BitcoinNewsCom]

NEW: As Texas endured brutal cold last week, MARA voluntarily curtailed and shut down nearly 770 MW of Bitcoin mining operations during the winter storm, freeing up power when the grid needed it most.

[Greg Les @GregLes_]

Two significant deals today.

Bought out the land lease at Rockdale so we can build data centers and control our destiny

First data center lease with a very strong credit tenant in AMD

Just the beginning

[Riot Platforms, Inc. @RiotPlatforms]

We’re excited to share a series of transformative transactions that firmly establish our rapidly scaling data center business - including fee simple acquisition of our Rockdale site and signing our first data center lease with AMD.

Read the full press release here: https://t.co/h78shDt4Vg.

[Greg Les @GregLes_]

Great to tour Corsicana, see the ongoing Bitcoin mining operations totaling 400 MW and where we're headed with future Data Center builds

[McNallie Money @McnallieM]

Incredible team, site and vision @RiotPlatforms Corsicana facility! ✅✅✅ $RIOT

[Greg Les @GregLes_]

Important concept here

Freedom of choice and freedom of association extends to all participants on the network

A free and fair system doesn't depend or require any act by any individual miner or otherwise to be free and fair

[Pierre Rochard @BitcoinPierre]

When a bitcoin miner chooses to exclude a fee-paying valid transaction in the block it proposes, that's not "censorship", it is leaving the tx in the mempools and letting other miners include the tx in their blocks. The excluding miner foregoes the tx fee revenue, but a miner has a right to exclude, it's their hardware and software that they are self-sovereign over. What makes bitcoin censorship-resistant is that an excluding miner can't force other miners to also exclude a transaction in their blocks. That would be real censorship.

[Greg Les @GregLes_]

Tell me again how Bitcoin is used by money launderers and drug dealers?

[The Wall Street Journal @WSJ]

Chinese money launderers appear to have moved some $312 billion in illicit transactions through U.S. banks and other financial institutions in recent years to aid Mexican drug cartels and other criminals, the Treasury Department said https://t.co/iyl0xkU09x

[Greg Les @GregLes_]

Data centers are designed to maintain reliability in the most extreme temperatures and conditions to achieve 99.999% uptime

Customers of data centers also may not fully utilize their compute all the time for various reasons

These two factors combined = potential for power draw much higher than typical draw

[Greg Les @GregLes_]

@wsfoxley @SageMudir 4cp is not dependent on price, but there hasn't been any high pricing this weekend

There have been multiple days of higher load than this weekend in ERCOT

[Greg Les @GregLes_]

@wsfoxley @SageMudir I would think it would be highly irregular to have 4cp towards the end of the month on a weekend. Weekdays typically have higher load and a high watermark for the month would've already been established.

We did not curtail for 4cp today

[Greg Les @GregLes_]

Tremendous addition to the team to lead the data center platform at Riot

[Greg Les @GregLes_]

@BitcoinPierre @ErikVoorhees Probably many

https://t.co/680yzixiD0

[Greg Les @GregLes_]

@ThomasEWoods Maintain a lower cost to mine than the network.

As long as the appreciation in the dollar denominated BTC outpaces the growth in difficulty, you will stay ahead and remain profitable.

Mining gets more difficult but you are mining fixed amount of asset growing in value

[Greg Les @GregLes_]

Great feature from Riot's own @MorgensternNJ on what's behind Deepseek, how Biden's top down command and control way of governing bridled AI and Crypto companies, and how a Trump administration is taking the position of supporting and helping these companies grow and compete

[Brian Morgenstern @MorgensternNJ]

DeepSeek is a wake up call to the US.

Trump’s EOs on AI & Bitcoin/crypto will help unleash competition.

Don’t trust the DeepSeek numbers, BUT efficiency is good for faster development & higher returns.

I joined @MariaBartiromo to discuss:

https://t.co/UgiSj9Ex7l #FoxBusiness

[Greg Les @GregLes_]

I find the release of Ross Ulbricht especially meaningful.

The federal govt was hell bent on handicapping and intimidating purveyors of freedom and those attempting to escape the intrusive eye of the nanny state.

It's a major victory and a beautiful moment.

Ross is Free

[Bitcoin Magazine @BitcoinMagazine]

JUST IN: 🇺🇸 President Trump called Ross Ulbricht's mother to say it was his "pleasure to have just signed a full and unconditional pardon of her son, Ross."

"He was given two life sentences, plus 40 years. Ridiculous!"

[The Wolf Of All Streets @scottmelker]

Bitcoin Mining Helped Texas Avoid $18B In Energy Costs

Bitcoin mining has saved Texas up to $18 billion by eliminating the need for expensive gas peaker plants, according to a DARI report. Through ERCOT's demand response programs, Bitcoin miners reduce energy consumption during peak demand, stabilizing the grid and preventing blackouts like those during the 2021 winter storm. This strategy has also supported the integration of renewable energy sources, offering a cost-effective and environmentally friendly alternative to traditional grid solutions.

Source: Cointelegraph

[Greg Les @GregLes_]

Ercot prices go down while load goes up, more load balancing and generation development

[Sam @SlBrandin]

Common ERCOT W

Free markets work

[Greg Les @GregLes_]

Scottie please dm me immediately

[Kyle Porter @KylePorterNS]

Scottie after his team was handed $10 million in crypto: "I ... don't know a whole lot about crypto but this is good motivation to do some research."

[Greg Les @GregLes_]

Riot is focused on accelerating our BTC exposure, and is taking an all of the above approach to do it.

Each share now owns significantly more of the hardest money on Earth, and we're focused on continuing to grow this.

[Jason Les @JasonLes_]

Since 2017, Riot has used mining to increase its Bitcoin holdings over time. Proceeds from our recent convertible note issue have been used to acquire additional Bitcoin, allowing us to accelerate our goal of increasing Bitcoin per share for shareholders.

Going forward, Riot intends to optimize Bitcoin per share through a combination of its mining business and opportunistic market acquisitions of Bitcoin.