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$BTC MINING DEEP DIVE | $CAN
Recorded: Sept. 15, 2025 Duration: 2:22:27Space Recording
Short Summary
Canaan's strategic pivot towards self-mining and consumer products highlights its adaptability in the evolving Bitcoin mining landscape. With a bullish market sentiment and increasing interest in Bitcoin, the company is well-positioned for growth as it leverages partnerships and innovative solutions to enhance customer experience.
Full Transcription
Thank you. oh what is up welcome in everyone stock picks for the week monday 5 p.m eastern each and every week
right here on wolf financial it's september the 15th it is fed week Week. It is OPEX, quad, triple, whatever witching camp you're in for the terminology
is on Friday. It'll be very interesting to see what goes on in the stock picking competition.
We'll give a second as everyone rolls in here. We had a good week overall. We basically broke
even with the market across the board as a
as a unit here but uh boy we had some absolute bangers of picks just uh an amazing performance
and uh i'll go ahead and start jumping into it and if some of our pickers jump on a little bit
late today we'll uh we'll get them in either way here But a big shout out to our current champion and new
undisputed champ. I love stocks. Vegas. She had that ORCX, the 2X leverage Oracle. Of course,
anybody, if you were anywhere near the stock market, you saw the move that Oracle made the other day and she 46.22% on that.
Her Apple AAPU pick was basically break even. So even with a break even pick,
she still had a 22.81% average to hold on there. She's on the way up. Hold on.
I don't want to repeat myself, but I feel like I must. Vegas is on stage now.
That is our current champion, Vegas.
I was just singing your praises.
22.81% total return.
Your best pick, of course, at ORCX leveraged Oracle 46.22.
I wanted to repeat that just so you could hear it.
And congratulations there.
Our second place, and we'll start going around for everyone's thoughts of course our second place was ben over
at story trading 19.15 percent those actually really close race i was kind of keeping my eye
on the on the tracker this afternoon 19.15 percent from ben over story trading he had two fantastic
picks ldi was 28.41 and then UNHG was 9.90%.
So there's your top three picks for the week, by the way.
That ORCX, the best one at 46%.
LDI and UNHG, both from Ben, were the second and third best picks of the week.
That gives him second place.
him second place and our third place this one came down really close as well our third place
And our third place, this one came down really close as well.
is nick drendel 6.24 total return pstg long side was his best pick at 9.08 return and then tme
was his other pick 3.4 giving him that average uh i'll throw in this honorable mention jordan
uh who will be here in just a moment he's closing up another space but uh jordan had a uh tsl o which we talked about with leverage shares
last week it's a 2x cap accelerated it was up 6.82 percent and then coio the coinbase 2x cap
accelerated uh 5.38 so two nice picks there by jordan gave him 6.10, but Nick Drendel just
edged him out. It was actually Jordan was in the lead until about the last hour of the day,
or I shouldn't say lead. He was in that third place spot. Nick Drendel snuck up and snatched
it right out from under his nose and got that final podium spot. As a unit, it was 1.8%. SPY was up 1.84%. So here we are. A couple of quick notes, and then
we'll get everyone's market sentiment thoughts here. And if we have time, we'll hit those second
half picks and see kind of where we're at on those real fast as well this afternoon. But the NASDAQ
closed up nine days in a row, basically gapped up every one of those as well.
Nine days in a row on the NASDAQ.
The market continues to make new all-time highs.
We see everything.
IWM not quite there yet, but we may have a prediction from someone here that expects
to see that maybe in the next 48 hours or by the end of the week.
Obviously, like I was saying, the Fed rate decision on Wednesday will be very, very interesting.
So excited to get everyone's thoughts here.
And that's enough for me to get us started here.
And let's start jumping into the panel a little bit.
And our current champion, Vegas, I would love for you to kick us off with some market sentiment thoughts.
And I appreciate the trophy and
congrats to all the Oracle traders and ORCX. I have to say that was the best, best options trade
ever that I've had my whole life because it was just insane move. And even the actual commons, I've had the commons since around the previous earnings around
197 per share. So, you know, I've done really well with the commons as well. So it's just been
a smashing stock. It's just loving everything about it. And yeah, you know, it's pulled back.
But you know, if I look at the grand scheme of things with the weekly, it looks great. But anyways, I want to talk about, you asked me what market sentiment, right?
So the market sentiment to me, I am still bullish on this market.
I know it's all you guys hear me say every time I come up here.
I don't know if you've ever heard me become bearish, but right now, I'm still bullish.
Right now, I'm still bullish.
I mean, everything still looks really nice.
I mean, everything still looks really nice.
The Qs, the IWM, the SPY.
I mean, QQQ is just amazing today.
And even like all this dark pool of money that I tracked on spreadsheets.
I mean, it is just showing me that the money is just still pouring in.
I mean, I don't think there's still money on the sidelines ready to inject into the market. Maybe they'll put in some more capital after FOMC, or maybe
they've already put in some money and they're waiting for FOMC. But in the meantime, I'm still
very bullish on SPY and all the indices. And so I'm looking for this continuation although I know that you know the market has
the FOMC heavyweight coming in on Wednesday and everyone gets all panicky about it you know what
for now like the market's not telling me otherwise and you know you can always do a hedge as well if
you're concerned about that or just close out some positions. But for me, I'm fully vested in the market right now. And I have no plans to scale out at this time until I see signals showing me
otherwise. So for now, I'm fully vested. And I still have some, you know, capital allocated for
opportunities for pullbacks, like, you know, like Nvidia had a nice pullback to him and came back from red to green uh so i'm personally very bullish and looking for continuation i'm really excited about some of
these um growth stocks that are looking really strong and we saw the s&p nasdaq pushing to new
record highs as well with this big tech happening so right now the only thing that's clouding us
right now is this fOMC thing for Wednesday.
But other than that, market's looking spectacular.
So I'm bullish.
That's funny.
You almost really, you shouldn't even apologize for just beating the drum and saying bullish because look at the market.
And I mean, you've been very vocal about
this, very confident in your continued bullish stance. And here we are continuing to get,
everyone talked about the seasonality, Vegas. Everyone talked about September seasonality.
And we gapped down the first day and we've been up every single day since.
Yeah, I think the September honestly has been very different than the previous September's in the past. So I think we have a lot going for us in the market and it's to our advantage to seize this opportunity. So it's a very different September, let's say, than what it was in the past camp with my bull friends and all my little bulls.
And we're ready to keep attacking this market and grabbing as much capital. This is like a
generational wealth opportunity to make a lot of great money, especially for long-term investors
or long-term trading, especially this AI revolution is just absolutely incredible.
And I think it's like, again, it's just getting started with all this CapEx spending.
And I'm really excited about the upcoming earnings season as well.
We're going to start happening all over again in the next few weeks.
So really looking forward to that and looking forward to everyone having a
successful year end.
Very well said Vegas. Appreciate your thoughts. We'll come back around and get your two picks
for the week here in just a little bit of course for those that are new to the show or in the
audience of course we go through the market sentiment thoughts just general market thoughts
uh kind of what we think uh may be going on in the market and then of course you know anything
that we're watching for there any sub sectors sectors, anything that are on high watch, that's the first portion of the show.
And then of course on the back half,
we we all pick two socks for the week that we think will perform.
And that goes from tomorrow's open until the following Monday's close.
And with that said,
let's go over to our second place finisher and that story trading.
All right. Huge congratulations vegas on that
oracle trade um i i was really bullish on that as well we had a live stream um that afternoon
before earnings and i was looking at the options i'm like ah these look too expensive i was on
live stream i'm like i'm just gonna go common shares i think i went with the uh 2x clever to say what you want on the competition with um but i flipped out of that very soon and
after i went with the common but there was just one person because i didn't go for the options
and you know i'm like the leader of people listening to me so i'm like nah these options
are too expensive but we had one person in our community who who uh went forward with it anyway, made 42 times her money.
Amazing.
That's sick.
That was like the best.
Yes.
Emp, you didn't know that?
You have those shocks.
And that's like, it could have been.
I mean, if she held it for a couple hours, it would have been up like 60, 70.
That was crazy.
Vegas can tell you the returns on those options.
That's what's so insane.
The move itself is mind-boggling.
But you think about, like, the percentage gains on those options.
Like, those numbers truly are mine.
That was crazy to be so close.
And so far, you know, it's all about execution.
So Vegas did great on that execution.
I chickened out because I thought the premiums were too high.
But anyway, I made some money on that.
I did the $300 call, you know, because they were so cheap.
They're like 35 cents.
And I thought, you know, the risk reward looked really good because I'm a shareholder of Oracle
and I had the previous earnings report that I went through.
And I said, you know what?
I think they're going to do really well this coming in.
That's crazy.
So that was a really cheap one.
Holy crap.
I got so many.
And I was like, oh, that was the most amount of money I've ever made before and the most amount percentage gain wow that's amazing yeah i mean cheap and dollar amount
absolutely yeah i miss this because i don't really go out of the money if i do call options i'm like
right i was i was looking at the 255 strikes and anyway anyway good job that's amazing all right
so um we all made some money on Oracle, at least on the common shares.
I didn't think I had a chance to beat you after I saw that in.
I didn't look at the spreadsheet all week.
I'm like, Vegas has it in the bag.
I looked at it this morning.
I'm like, shit, it's a horse race.
I got a chance here.
We were both at 20%, but she ekes it out there.
Anyway, sentiment thoughts.
Let's see.
As I've been saying for a while, I think IWM is going to get all-time new highs.
I've been saying before FOMC.
We'll see.
I've been saying.
I've been in 240 call options expiring this Wednesday, which I'm up on now.
But, yeah, I've been calling for a break of the all-time new highs before FOMC 243.04.
I'm not sure at this point.
I'm hedging a little bit.
I'm like, okay, if it doesn't hit it before,
it'll hit it like in the first few minutes
after FOMC decision on Wednesday afternoon.
I do worry about sell the news in the short term,
as I was saying in the earlier show,
because I think it's, I mean, everyone's expecting this cut.
You know, we'll see the comments and how dovish he may be in terms of multiple cuts the rest of the year,
additional cuts the rest of the year.
But yeah, I think it's a lock.
I think IWM's all-time new highs is a lock this week, but it might hit that all-time new high,
and then we'll have a pullback for a bit and a consolidation just because it could be a seldom used event.
So I'm a little worried about that.
But look, underneath is really strong.
Even when IWM underperforms, which it did, let me pull up the chart, like Friday, you see that inside closed red candle, which wasn't fun if you were in the IWM call options.
But underneath, the strength was still amazing on Friday in small caps and risk assets and anything interest rate sensitive in the housing sector and the mortgage sector.
So you've got to be bullish here.
Historically, you know, when they're cutting rates like this, there's more room to go.
And it could be months to a year or maybe two. Historically, when they're cutting rates like this, there's more room to go.
And it could be months to a year or maybe two.
I guess there is some concern if you look at it historically that you could be near a top.
But still, if you want to call this the last move, whether that last move is months to a few quarters to maybe a year plus. Why anticipate, you know, why anticipate the top?
I mean, you can make so much money in this move.
I don't think it makes sense to get too defensive until after you see signs that, you know, things are turning around. But, yeah, I worry about the short-term pullback.
I think for me personally with IWM calls I'm in, I'm going to cash in once we get close to that all-time new high, another $3 or so from here, $4.
And I just think everyone's expecting this, so you could have sell the news on Wednesday afternoon, but then we'll be fine.
Intermediate term, I'll say I'm very excited, very bullish, especially in those risk assets, small caps and growth stocks.
I guess you would say that the risk is to the upside for rates sensitive stocks.
Is that what we're looking at?
I just wonder, going into this, it seems like we're all but going to get the 25 basis point cut.
Does it come down to the commentary?
Is there a risk to that side of things?
What are your thoughts on that, Ben?
Yeah, look, pretty much always comes down to the commentary and the presser.
There's always a moment in the presser, this like inflection point question,
that it just becomes obvious in the moment where, wow, that's the key phrase.
That's the key thing that's going to drive the whole narrative. And that's kind of usually what
determines the move on Thursday into Friday. So like the 2 p.m. decision and the statement that
comes out will cause a lot of volatility, but the final direction is not going to be chosen
until some point during that presser where there's that, aha, there's that key thing.
Everyone's going to hang their hat on to, you know, to define the direction for the next couple of days.
But even so, I still worry about a seldom used thing there.
worry about a seldom used thing there.
So I am going to manage my risk and, you know,
take some profits in certain places and make sure I have enough cash to
capitalize if we do get a dip. But yeah, that's your question.
It's always the commentary that determines what happens next.
Boom. There you have it.
Some really great thoughts from Ben over at Story Trading,
our second place finisher. Let's go over to our third podium member nick trindle nick trindle what are
your market sentiment thoughts i see a mute and unmute
and i have no audio from Nick Drendel.
Let's give it one second.
I'm going to send him another invite, see if we can get him right back up here on stage.
Yes, I heard you before you even showed up on my screen.
That was wild.
Nick, how are you?
I am good.
How are you?
Good.
Can't complain.
I mean, we're all-time highs, the long-term portfolio loves it. Nick, what are your thoughts around this market?
What an incredible, incredible market we have. I mean, indexes, they're starting to accelerate.
Feels like we're basically going vertical in a lot of different types of stocks. Gold miners, straight vertical. We've seen a lot
of breakouts on the more risk on type assets. Quantum names started to break out. Today,
we got a real push in nuclear and uranium stocks. It's just all out craziness right now,
which is an awesome market to play in. These are the environments that you
want to play the long side. You want to play the momentum until the music stops and momentum dies,
but you don't really get that type of move that completely shocks you. I hear the term market
crash a lot and markets don't crash above their 200 day moving
average. They've got sharp pullbacks, but they don't flat out crash. So I just think that this
market as incredible as it's been, you're going to have time to start to scale out of positions
and time to start scaling in on the short side once momentum does break. And you can just use like
the five-day moving average, something super short term. If you're above the five-day,
momentum is still to the upside. Once you lose the five-day on the indexes, then yeah, we can
start to look at the short side or try to like sell long positions and stuff like that. But
this is probably the hottest market that I've seen
since like late August of 2020, where we did get that acceleration on the NASDAQ and on a ton of
the risk asset stocks. And then eventually we did accelerate. We topped on September 2nd and we went
into like a two and a half year or two and a half month consolidation before the end of the year rally.
And I wouldn't be like too surprised if we have some kind of like pullback after this acceleration, but the last couple of days of an accelerated move like this can be really, really extreme.
And you don't want to miss out on the long side on that if you're already positioned in names.
And you also don't want to step ahead of that on the short side before that momentum does
kind of curl over.
And one thing that I really like about the market right now is taking a look at positioning.
NAAIM data, the active investors exposure, only ticked up from 81% to 86%.
Usually it's over 95%. I think it was a hundred, I want to say it was 103% in
September of 2020, where we topped for a couple of months there. So NAIM exposure is not at
overbought signals. COT data, commitment of traders still has a net position, net negative
or net short position in the S&P 500 and IWM, the Russell 2000.
It is a little bit long on the NASDAQ side.
So I'm not really focused on like NASDAQ type names here,
unless it's for like a one or two day kind of trade,
just like a performance booster.
But overall, I think this is, I mean,
it is just one of the best markets that we've had in the last couple of years.
Ben, what's your approach been on this?
I know you're like on StockPix, for example, this week you had a PSTG, TME.
What's your approach been?
Are you just, hey, here's my setup, here's the chart I like, here's the theme I like and just stay long?
Is that the general
thought process right now in a in a raging bull market yeah I'm not trying to buy like extended
names I really want to focus on stocks that are kind of like just emerging or themes that are
just emerging so things that are like already extended right now I'm not trying to chase higher
it's awesome you want to let your winners work so I'm I'm obviously like to chase higher. It's awesome. You want to let your winners work. So I'm
obviously not mad about any of these stocks ripping higher, but to get new positioning,
I'm trying to get into names that are just coming out of bases. So Tesla last week,
we had a multiple month base, actually multiple, if you like really zoom out on that chart,
where we just had a test of the 200 day on Tesla, September 2nd. And now we're all the way up at like the 420 area. So more so looking at names like that and names like, or themes like
the China theme that, I mean, I've been pounding the table on for weeks now.
It's a little extended right now, but I think that's a theme to watch for any pullbacks.
Homebuilders are pulling back to it, like the 20-day EMA right now, and I think that's a good
risk-reward spot. But I'm not trying to chase a bunch of mega cap names that are making like really big accelerated moves to the upside.
I just don't want to like get in those positions and try to hold for a bigger move at this point in the move. It's awesome if you like shrink your timeframe and you just want to play like
one to three day swings, or if you're a day trader, this is just incredible market, but I
don't want to put on like new positions that I'm mentally going to
try to hold for like a position trade versus a swing trade in names that are extended.
Some wise words of wisdom from our third place finisher, Mr. Nick Drendel. Appreciate you,
sir. We'll come back around and get your two picks for the week. Of course, let's go over
to Andrew. Andrew, what thoughts do you have to add um
here at all-time highs uh going into the fed going into the quarterly and monthly option
expiration on friday what uh what are your thoughts around this market yeah the market
has been doing awesome it's been up for the five consecutive months So it's really just been like an insane rally with very limited
pullbacks. And really the best strategy over the last five months has been to just get long and
stay long and overthinking. It hasn't really worked. It's really just been sitting tight,
making sure you're positioned. And that's really been the best route, not really going too crazy
with the macro or the day-to-day
headlines that sort of thing because the trend has just been to the upside this week is the first
week in the last five months where I do really see the reward to risk flipping and I do think
that there is actually a good chance to take a shot on the short side. And the reason being is because
the seasonality in September is weak. And it's important to recognize that
the market is doing very well, but it's the first half of September. The seasonality really takes a
dive in the second half of September. And the second half of September also coincides with options expiration
that is happening this Friday. This is a pretty massive options expiration, and there's a lot of
bullish positioning via the options that is likely going to expire. A lot of times you get market
turning points that happen around these expirations. VIX expires on Wednesday, and then we have the regular OPEX
on Friday. We also have Fed Wednesday coming up. And if you look at the historical performance of
the market, when the Fed does their rate cuts, it's actually not that good. So there's this trade
where potentially the market rallies into the cut, and then you get some
selling of that news. And granted, if the market were to sell off, let's say like 3% to 4%,
it's just a normal pullback. There's nothing catastrophic about that. Like Nick said,
it's not a market crash by any means. But if you really just take into account how far some of
these AI stocks have gone, like for example, almost every single day, there's a headline about an AI stock
or like, you know, today we had like Tesla, like Elon Musk buys shares and the things up like a
few percent, who knows what stock it'll be tomorrow. But yeah, that's kind of, for me,
having done this for a while now, you start to really see
that when there is sentiment that's starting to go a little bit crazy. And a lot of times you
start to see that when you get closer to OPEX and everything feels amazing and just feels like the
good times are never going to end. And yeah, when you start to see those dynamics and then you have
these events that I'm speaking of with September week
seasonality, the big options expiration, and this Fed cut that's coming up. That I think is,
for me, it's reason for pause. Right now, I am fully long in my portfolio, but that's just
something I'm cognizant of that, hey, into the end of the year, where could I possibly have a
major slip up? Perhaps
it's over here. So I will be looking at potentially putting some hedges on my portfolio this week.
The other thing is if you look at the options market, the IV percentile on a lot of these
headline indices is very low. I mean, the cost to put on protection is actually very cheap.
And that cost just gets more and more expensive if we were to get a pullback. So yeah, for me, I'm much more cautious heading into this
week. But again, there's no signs looking at price action specifically. I am seeing divergences when
I look at volatility. But if you're just looking at price and volume, there's no indications yet.
And it's really just, you know,
if you're shorting today, that would be an anticipation trade. And like Nick said,
the last few days before things roll over can be pretty crazy, but I think we're in those last
couple of days. Like for example, like is the market really going to rip tomorrow into Fed
Wednesday? I mean, if it does, that's pretty much a screaming short in my opinion, because why would the market be ripping into that binary event? So yeah, I think their reward to
risk is getting very good on the short side. And I'll likely take some positions. And then in terms
of my picks for this week, I'm going to go with the MSOS once again. The MSOS cannabis ETF is one
of the best performing ETFs quarter to date.
But over the last two weeks, it's really had a big pullback.
It's pulled back about 20 to 25%.
And I do believe that that rescheduling announcement is going to come before quarter end.
So we'll see.
I'm between a rock and a hard place where I do think that announcement is coming.
But we'll see if the market gets a little bit softer.
So yeah, for my pick this week,
I'm going to go with the MSOS ETF once again.
Hey, Andrew, can you hear me?
Are you still there?
This was your listener.
Yeah, I can hear you.
I have a question for you on MSOS.
I caught something legislatively about cannabis.
I think it hit last Thursday.
It says the GOP-led congressional committee last week blocked President Trump's plan to reschedule marijuana from Schedule 1 to 3 setting addiction and medical concerns.
No, that didn't happen.
Yeah, so that headline came up, and it's very confusing.
If you're sort of like a casual in the cannabis space, the headline looks like, as you just read, like, oh, the effort to reschedule was blocked.
And the reality was there was a bunch of DOJ items that were pretty much taken off the docket.
And if you read the fine print of that announcement, the rescheduling was not taken off the docket.
So, yeah, that was a bad headline for people that are casuals to get
into the space um but in terms of people that have been following the space for a while
you know it's pretty much a non-event okay great so that that means because that weakness probably
is because a lot of casuals looking at that so it could be a buying opportunity here i'm seeing
some technical support at four dollars, basically, around $4.
Yeah, we'll see.
Yeah, that announcement should be coming in the next couple weeks.
But, yeah, we'll see.
With the whole Charlie Kirk thing, that could set things back, RIP.
So we'll see.
For me, I'm really just trying to be patient because I know there's so many other agenda items that are obviously higher priority for this admin. So yeah, for me, it's really just kind of being patient and seeing what happens.
I was wondering if somebody was going to take kind of the other side of that seasonality piece there.
And I actually have been waiting for someone to mention that like September's an entire month, right?
We know that September's returns are usually pretty muted.
And how much are we up on the month?
Let's see S&P.
Where? From where? Um, where, from where, because we gap down basically two and a half percent on the S&P.
If you go from where we closed down in August, we have where we actually opened the month.
It's just over three and a half percent.
So, I mean, that could easily look much different in a couple of weeks.
So it'll be interesting to see what happens there.
The seasonality thing, it it's i wonder if it's
off kilter because of all the tariff stuff or if uh some of it still i mean there's still some
mechanical things that do happen this time of year so definitely interesting andrew appreciate you
sharing those thoughts uh samson let's go over to you and get your thoughts around the market
um i mean you know really it the same thing that everyone else says.
From a long-term perspective, nothing's really changed.
Other than, of course, like they're saying, we have a binary event on Wednesday.
Actually, I would even say it's a little bit less binary because a lot of it comes down
to what he says, which isn't like a yes or no.
It's like it can be interpreted one way or another.
But I mean, I would really say that, yes, the entire market's moving up.
It's not moving up dramatically like a blow off the top, per se.
But under the hope, though, there's a lot of speckable stocks.
When I say speckable, I mean like small cap, maybe small mid cap stocks, pre-revenue.
But the valuation may be jumping way ahead
of what they're actually projecting as far as revenue.
So with that said, of course, there's risk tied in.
But for me, I'm still long.
I'm not trying to time anything here.
If I'm going to start shorting stuff,
I'm going to start selling stuff.
I want to see some weakness first.
I need that confirmation before I do anything, really.
But other than that, mean you know portfolio's up really nice this year uh so far i mean if giving back some not really a big deal i'm not expecting for it to go up in a straight line
uh so you know just really kind of enjoying it um as far as trading goes you know congratulations
to oracle trade i mean who who would have known that they're going to grow RPO by 359%?
You saw a little bit of a pullback later last week,
but then it recovered about $300 today.
So just still pretty up there, right?
The market's just digesting it.
Other stocks as well, IREN is up a lot today, actually.
Kind of interesting, too, because they're one of the crypto miners that's under a data center stock that hasn't exactly got a big deal yet.
So I feel markets kind of front run that in the past, especially with Cypher and also with Core Scientific.
The market waited until they got that confirmation.
Now it's like trying to front run it.
It's expecting it, right?
So you had a few names that already rallied that used to be Bitcoin miners that are now data center stocks.
So IRAN is probably my most favorable one out of all of them.
I know a lot of people are a fan of Cypher as well, which is okay.
But, you know, small position for me.
Not trying to go full-flow or anything on it.
But, yeah, I mean, I did take a look at that AAIM exposure index
and it is good to see that
kind of pull back a little bit.
Same thing with the
CNN Fear Green Index,
same thing also with the AAII.
But, you know, these aren't
absolute indicators of sentiments.
The price is really just telling you
it's just going higher.
So, you know, I'm not trying
to fight the tape.
So, do you want my picks now or are you gonna want it later
we'll come right back around to you i appreciate you sharing okay because i was i was gonna say i
think i'm gonna go for the chargers uh today and i'm just kidding around good yeah well don't be
copying my picks and then criticizing me when you take one out of my picks. You owe me money.
You owe me my money.
I owe you zero dollars.
Not financial advice, of course, for any sports picks.
If anything, you should short New York sports as a whole.
0-4 in the NFL right now.
All right.
I just want to continue to point that out.
I wish Evan was here to continue to hear that.
But I appreciate the market sentiment thoughts there, Sam. And I want to bring in my co-host, Jordan Ace the Kid.
What are your thoughts on this market up nine days in a row on the NASDAQ?
Oh, this market. I mean, what do I have to add really? You know, this thing's just soaring to
the upside. We've seen it before. Volatility.
I don't know if anybody else caught this, though.
Very interesting volatility today.
Obviously, we did see a little bit of, I guess, a little bit of downside
kind of in the middle of the day there.
But all day we saw VIX just just flying throughout the day, even from the beginning
of the morning where we saw a nice ripper on ES and NQ this morning.
So very interesting that
volatility is like just staying around even if the market's trying to march higher. It continues
to seem like that 14 area is the floor, which I am not complaining about. I am totally happy with
that. I hope it is, right? I hope it continues to be because under 14, I just start ripping my hair out. So I like to see the
volatility staying around. Obviously, we got a big week coming up with FOMC. The whole consensus
is we get 25 basis point cut, which I mean, I'm thinking as well. The only thing I would say just
to always keep in mind is it's just there anything can happen, right? Like as traders to specifically for anybody in
the audience, it's just like when we're playing the intraday and, you know, watching that initial
reaction, it might be a 25 basis point cut. It might be super bullish, but like, you never know
that initial reaction might not be so bullish. And I just always preface that with any data point,
whether it's FOMC earnings, like whatever it may be,
that first initial reaction might not be exactly what you think just because of the number that's
coming out, right? So I just always take it with a grain of salt. I always say, hey,
no matter what the number is, it's going to be volatility for us intraday traders.
And you take advantage of the price action that's given at hand. And if there's nothing clear, then
sit back and chill. You know, I generally on these FOMC Wednesdays will try and trade in
the morning and get it all over with so I can just kick back. And maybe if I want to take
something, I take something with super low risk during FOMC. But, you know, the work's done. I
don't have to deal with all that craziness and just really uncertainty. I never really have a
whole lot of conviction during
that time. So not something I try and put myself in the front of. So we're going to try and do the
same thing this week. We're going to try and make our money beforehand and kick back and just watch
the volatility. But I think, you know, obviously that they're going to cut 25 basis points and
we'll see everything come in line. I do think if, you know, they come out and say, I don't know,
50 point basis cut, things will be a little wild. I would expect a abnormal reaction than what we're,
I guess, expecting. But again, either way, like my thoughts there don't matter. And
like respectfully, nobody else's do really either. Like to be completely honest, like nobody's
thoughts on that matter, because what's price action going to do? What's volatility going to
do? That's what I care about. And that's what's going to make me money. So that's the mindset I'm taking into it. I'm pretty bullish, obviously, kind of have to be with the market, the way it's going and the way we're just flying higher. But I would love to see us pull back and get some get some volatility, even even higher, you know what I mean? But I do the only thing I see that's like potentially bearish, which is not even really bearish, just like one point of confluence that is one piece of the pie for me. And that's NQ just flying, taking out these highs while ES was not today. And it's funny because ES has been the one that's kind of been holding us up stronger recently. As we've seen, ES has been the one taking out highs while NQ was kind of lagging. And now that's the one lagging. So that's a little interesting to me.
Maybe we see a short-term high here put in.
But I just have no points of confluence telling me that that's even possible yet.
So kicking back.
Probably be a boring week until this FOMC kicks off.
And then we'll see what really happens.
But I'm just trying to make a little money.
Kind of scalping, really, until Wednesday comes.
So we'll see what happens.
But just taking everything with a grain of salt.
Got to be bullish.
But I won't be pissed off if we get some nice tanking price action coming through.
But I just don't think we can expect that given the market.
And we just hit all-time highs again, which we know.
I mean, just look back anytime on your chart.
Are they bearish?
They're not.
Look back at every all-time high that we've breached and it's never bearish so we'll see what we get
that's my thoughts i'm just gonna play what's in front of me
there you go jordan with his market cinema thoughts uh i mean i could copy and paste so
much that's been said here i I don't think there's really
one thing that I even would push back on that I've heard here. I think I pretty much agree with
everything across the board. I did mention earlier, nine days in a row, not just nine days
up in a row, but gap ups every single time on the NASDAQ is kind of insane if we think about it
from the beginning of September. When it comes to weeks like this, I trade in the way my trading system and strategy works.
It works the best using probabilities and normal market conditions.
When things are outside of the norm and when binary events are happening like FOMC,
and then even Friday with all the rollover, the future, then all the quarterly
and monthly options expiration. I just, I feel like I don't have an edge on a week like this.
So I usually just step back and take it pretty easy. And I mean, today, same thing. We had another
kind of push in the morning that went sideways all day. And, you know, I was just watching and I can confirm the grass was growing and the paint is dry after watching the market today. But either way,
when it comes to the overall picture of things, I do think it'll be very interesting to see what
the Fed says, the dot plot, how many dissenters do we get? Do they say we're cutting because something's cracking?
Do they call it a maintenance cut?
How is that projected?
So I'll be very interested to see how that turns out.
And then just from the seasonality standpoint,
obviously going into the 19th of about every month,
we have kind of a pullback usually.
A lot of times it's a mechanical structure with the option stuff themselves.
And then the old Wall Street adage comes true as well.
What do they say?
Sell Yom Kippur and buy Rosh Hashanah.
And I believe that is next Monday.
I guess it's probably buy.
I'm not sure, but the Rosh Hashanah comes first.
So that's next Monday. Okay. So sell Rosh Hashanah and then buy Yom Kippur. I said it's probably buy, I'm not sure, but the Rosh Hashanah comes first. So that's next Monday.
Okay, so sell Rosh Hashanah and then buy Yom Kippur.
I said it backwards there.
So it's during that.
It's just an old Wall Street adage.
Some of it goes with seasonality.
Obviously, there's some other thoughts that can be derived from there.
But either way, an old Wall Street adage starts next Monday, I believe.
Is that correct, Ben, on the 22nd?
Yeah, Monday night.
Okay. Yeah, perfect.
So yeah, so that's coming up as well. And then once again, the nine days up, I was also looking at the 200-day moving average. The 200-day moving average on the S&P, we are sitting about 9% to 10%
above the 200-day moving average. If you go back to 2024, if you go back to 2021, 2018, when it gets up to this
area is usually when it gets really grindy, but anytime it gets up closer to like 12% or so above
the 200 day moving average is usually when you see it snap back a little bit, 12 to 13% historically.
So there's still a little space overhead, but it is getting,
you know, a little bit extended from that. And then even if you look at like a nine EMA on the
daily, starting to get that kind of vertical look to it a little bit, you know, usually, uh,
either a pullback or time consolidation happens. So we'll see, uh, what it brings to us. And I'm
excited to see what everyone's going to pick with all this going on this week and Vegas,
we're going to let you kick it off.
Our current champion, what two picks do you have for us this week?
Okay, well, you know, let's say Salva Rushdana by Yom Kippur.
I wonder if that'll be interesting this Friday with the quad witching or, you know, will the selling happen?
As Andrew mentioned, you know, maybe right after the FOMC, you know, there could be a pop and then a drop and some selling.
I mean, what great week to have FOMC the week just before Rosh Hashanah.
So it'll be a very interesting one.
I remember last year, you know, there's always selling just before Rosh Hashanah.
So it's quite a very timely comment and staying out there on Wall Street.
So to answer your question,
my pick, you guys know I'm always bullish. My good friend, Google. Okay, so I'm going to pick
the ETF. Is the only one GGLL? Is that the only ETF out there for Google?
Is that the only one?
GGLL?
I know GGLL is from Direction Shares.
I'm trying to think.
Do you use that again?
I can hold on.
There's another one too, but it's fine.
I'm sure one you want to go with.
Well, I want the one that's cheaper because this way you know if there's a cheaper etf then you know people uh g-o-o-x
is that one is 47.50 that's 47. i don't know if that's cheaper than what you're looking at
or not well yeah ggl is like 68.35 so this is 4749. This is a 2X leverage Google long.
Okay, yeah.
So give me that one, the GOOX.
Okay, so I'll take that.
Yes, that's what it is.
Okay, I'll take it.
Quick research from Ace over here.
Okay, great.
We got you.
So I'll take that one.
So listen, I want to tell you guys why I like it on Google
and why it's, you know, my little pick here on Google.
So we saw, you know, it's made 52-week highs and very, very strong.
And I think that this definitely wants to go much higher.
And the opportunities on this is going to be relentless.
I think that there's just so much going on with Google that it's just
definitely not one to overlook. I think they've just incredible price action.
This AI revolution that everyone talks about is just, you know,
technically definitely getting started.
So my thoughts are that Google wants to go much higher.
I can go into more deep dive, but I don't want to hog all the time on here.
So, you know, I think maybe I'll do a little video about this.
And then those of you that want to know more information on Google, you can do you can listen to my video that I'll put together on it.
But definitely what I love about it today, you know, it did hit that $3 trillion market cap as the Gemini obviously taken over ChatGPT.
So this became the fourth company to hit that $3 trillion market cap today.
And there's a lot of positive news on this company.
So I think that, you know, the fact is that the Google Cloud has also surpassed $106 billion in performance obligations.
And that was mentioned in one of the Seeking Alpha articles.
So I think this is very bullish on Google.
And I'm not going to give you a target right now,
but I won't be surprised between now and the end of the year.
We'll see this like around 300 plus on Google.
So I'm going to pick GUX.
That's the one you guys are suggesting as the ETF.
And then my cute little second pick. Now he was not behaving so well today, but he did smarten up
at the close. I'm going to take a chance on Elon and I'm going to pick my little TSLO. And this
has been an investment. I've been talking about this one since it was under 10. It's been a great return so far. It's 100% return on TSLL, or if you bought it around $10, you're pretty much almost 100% return on the ETF.
news that's been surrounding it. I think what struck the match was obviously, you know, Elon
making that purchase of 2 million shares over a billion dollars that he's invested in the company
stock. He hasn't done that since 2020. So it's been quite a long, I couldn't believe it was that long
since he actually purchased stock. So that was quite interesting. And we could see here that Tesla
over the past month, it has risen approximately 23%. And so the upward movement has been really
consistent since mid-August with a lot of notable jumps following some key news event. If we look at
the one-year trend, the stock has increased from 261.63 in September of 2024 to 410.04, which was a 56.7 rise.
However, it still remains below its 52-week high of 488.54.
So it's showing me that there is still room for growth, but there's also some potential resistance.
room for growth, but there's also some potential resistance.
And so we know that Tesla's market cap of $1.27 trillion reflects Tesla's status as one
of the most valuable companies globally.
And I think that with Elon's $1 billion purchase, that really set the match, like I said, the
fire.
And I think that we're still waiting for some confidence in Tesla's future with this RoboTaxi initiative, which is already boosting the stock by over 7% earlier today.
I saw that William Blair noted, he's one of the analysts out there, aside from Dan Ives, he noted that Tesla, a strong signal of confidence in the RoboTaxi business, which Musk has constantly emphasized that this is a key growth driver.
And so we also have the catalyst with the $1 trillion compensation package for Elon.
The board is not going to vote on that, though, until November.
But the thing is that the package has fueled a lot of bullish sentiment.
We have analysts like TD Cohen giving this a buy rating
of like 374, Stifle was 440. And what they liked was Elon's long-term commitment,
though others are kind of a little cautious with Elon. So it really just depends like who's the
analyst and what they think of Elon. He did say the other day too, I'm done with the politics,
I'm back at Tesla,
and I'm ready to, you know, he's ready to do a lot more work. And we did also know that Tesla
did get regulatory approval to test the autonomous vehicles in Nevada, expanding the robotaxi beyond
just Austin. And so to me, this is a step forward with his vision of a robo-taxi fleet, which he claims could account for 80% of Tesla's
future value. The other thing too is the energy storage business, which everyone talks about,
and the expansion with his new Megapack 3, Megablock system. This is gaining a lot of
traction with revenue from energy storage jumping about 18% in the first half of 2025.
with revenue from energy storage jumping about 18% in the first half of 2025.
So this growth will offset a similar decline in EV revenue,
diversifying the revenue stream for Tesla.
So this, to me, a lot of optimism around their AI-driven transformation
with this robo-taxi.
And, of course, Mr. Optimus Humanoid, I mean, the robo-project.
I was telling my mom the other day that, can you imagine, like,
you'll have a robot in the house folding laundry, helping you get dressed. I mean, I thought
I was thinking it'd be such a cute thing to have a robot for seniors. You know, a lot of seniors
need help. And you know, if they can't find good help to help them, they could get a robot and
maybe this robot can help them like get dressed, you know, pick something up that falls on the
floor. So I think the robot will be really helpful dressed, pick something up that falls on the floor.
So I think the robot will be really helpful for seniors down the road that need assistance at home.
So that'll be interesting to watch. The last point I just want to make here with Tesla is that from a technical perspective, I think that there is room here. I like to see this head towards 445
on Tesla. It has a really massive weekly base kind of coiling as the moving averages.
And volume is suggesting still a breakout still in the stock. So, you know, we had a dramatic
pullback today. This is how the stock does trade. It does it all the time.
It'll push and pull like $10, and the next thing, you know, just rips.
And it took a while to finally break that 360.
We finally got it.
So let's just see what we do the rest of this week with Tesla.
And I look forward to seeing more success with the stock,
even though it's frustrating as hell sometimes.
Just be patient with Elon.
The stock is difficult.
People love shorting this, though.
They definitely do a good job when they do short it.
But I still think, you know what, love the stock.
And I know, Sam, you got your new Tesla car.
Congrats on the car.
And I look forward to uh more more tesla this week so let's see what's gonna do so i'm taking a little chance
right tesla thank you so much you know um i think tesla's up uh it was up eight percent
that time and that's because the day i take full credit full credit for that so you're welcome guys
yeah there you go.
Your money going into the company for the revenue for the earnings is great.
All right. Vegas with G-O-O-X and TSLL. And I want to make sure we get to everyone so we don't run out of time here. So we're going to speed through the rest of these picks a little bit today. What
a great conversation we've been having today. Ben, let me throw it over to you for your two picks. Yeah, I'll try to speed through, but listen,
I just got to say, when Vegas talks big cap tech, you listen. She is an oracle when it
comes to big cap tech, so that's amazing. Google and Tesla. By the way, it's funny,
though. The board said Tesla's done with politics. That was before Charlie Kirk's assassination,
and man, he's all posted about top politics now now i don't think that'll make a difference really but just interesting um
anyway uh oh it also made it reminded me of vegas your tsll pick for the year-long competition this
might be the beginning of your turnaround um yeah uh bottom of the uh bottom of the pickers right
now but tsll if you're right, you can get back
into the competition.
It's an open race, man, because I was first for a while
but then Wolf took me over, so
who knows, maybe this TSLL will take you
to the top over the next few months.
Alright, my two
picks here. First
one, brain block. Okay, I'm going
to go back to the well, LDI. LDI
gave me a big return this week.
Where are the stats there?
Up 28% weekly return.
So this is a stock.
Look, I don't know the fundamentals too well.
All I know is this.
Open by Eric Jackson, who's been pumping this mortgage-related company, has just exploded.
And then I was following you a little bit, trading a little bit peripherally,
and then Citron came in and said, now opens full of shit.
It's too overvalued.
Let's go into LDI.
And that really spoke to me because I don't like following Eric Jackson and his pumps.
It really rubs me the wrong way.
So I'm like, let's do LDI.
And then my colleague, the Godfather Knows, looked at this,
and he really backed up what Citron was saying, particularly with refinancing.
Refinancing is something that's really going to help LDI.
Fundamentally, it looks like it's a much better deal than open, up 28%.
So with rates coming down and if the Fed kind of heads towards multiple rate cuts, that's going to be really good for refinancing,
which is going to be really good for LDI stocks.
So even though it's up 28% this past week,
I'm going to go to the well again on LDI Loan Depot.
Second one, EMP, if you're okay with it, if you're not,
I'll give something else.
It's the rights that we're talking about, GSRTR.
It's not very liquid, but,
Emp, you want me to talk about this one?
Yeah, if you want to, yeah, well,
let's try to briefly give it to me, please.
Okay. GSRTR, okay, so,
I mean, there's not a lot of liquidity, okay,
but it's such a good deal still right now that I got to mention it.
It's up 11 percent today. This is the rights for GSRT, which is a SPAC for an SMR.
You know, you see these nuclear stocks, Oclo and SMR exploding.
GSRT today filed the S for effectiveness statement, set the vote for October 7th.
So GSRT is going to become nuclear.
I think it's NKLR.
I think the ticker symbol.
That's going to be October 8th or 9th, I guess, after the vote.
Well, guess what?
This is just free money, guys.
GSRT are the rights.
Trading at $8.31 will automatically convert to one share of GSRT, which is currently $10.40 after the
business combination is done. So it's that S4 effectiveness statement today. Everyone was
piling in. I got like a 15% position. It's literally free money. And it's an ARB opportunity
here. Some people might be shorting GSRT, going long GSRTR. Literally free money, unless you ever heard of a deal, a SPAC deal that gets voted down.
If this vote gets approved, you're going from 830 to 1040.
Free money, not a lot of liquidity.
So it may not be perfect for the show.
If you don't like that, if you don't want this for the show,
we'll just go UMAC, U-M-A-C, without any commentary.
I think we're getting to the point where 20% is not for this for the show and we'll just go umac umac without any commentary i think we're getting to the point where 20 is not good enough for the show
it's good enough for me well you know what yeah i'm putting big money behind it so
going from like 840 to 10 dollars is great for me in two three weeks
we'll go with gs rtr i like the, Ben. Thanks for laying out that thesis for us and then running back LDI. Nick Drendel, what are your two picks for the week?
the 50-day moving average last week, got nice and tight towards the end of the week, and then got
going today up 11%. So with the whole Chinese equities just across the board skyrocketing right
now, we know that last time Trump's presidency, the first year, it was just incredible for Chinese
stocks. K-Web was up, I think it was like 74%. So another first year Trump presidency, soon a bunch of Chinese stocks
will continue to break out. So that's the first one on the long side. I am tempted to go something
on the short side, but I will just go NAIL as home builders. It's pulling back to the 20-day
moving average, like the underlying ITB,
which you always want to look at the underlying when you're, when you're trading leveraged assets,
but first pull back to the 20 day moving average since clearing the 200 day
a couple of weeks ago is a good risk reward spot for me.
Yeah,
we'll keep it at that.
All right.
P-O-N-Y and N-A-i-l both from nick drendel right there appreciate you
sir our third place finisher and we do have a conversation coming up right here in just a
moment or two uh about some bitcoin mining so if you're in the crowd for that go ahead and request
up on stage we'll get these last few picks knocked out here sam solid which two picks do you have
um wait did chris be there or
i don't know if he's on stage or not i see chris there um but anyways so i am going to pick
the two times uh levitt shares cr cr w g yeah cr w g that's a two times core weave CRWG. Yeah, CRWG.
That's a two times core weave.
We did see a short report come in
of Kinsella Capital.
And it's kind of like
when we saw the short report from Citron
based on valuations.
And I'm seeing upper momentum here
in data center stocks.
So I'm going to go along CRWG,
two times,
leverage shares,
core read VTF.
And I'm also going to go long,
did I want to pick open?
O-P-E-N, open door.
I'm going to go long open door.
I think it's a positive catalyst event with Shopify CEO in there.
We do have the great cuts,
of course, coming up on Wednesday.
I think we're going to see continued bidding
of speculative housing stocks.
Obviously, the actual housing companies
are going to do really well.
But, you know, this is a competition,
so I got to throw some alpha out there.
So I'm going to go long open.
Ticker symbol, O-P-E-N.
Boom.
Right there is CRWG, where we've leveraged to the long side,
and O-P-E-N.
O-P-E-N.
Boy, I stumbled on that one.
Open.
Open door from Sam Solid.
Chris Patel, can I sneak in a couple picks from you, please, sir?
Yeah, I'll keep it really simple.
D-P-S-pst twice and that's
it um with rate cuts incoming it's very likely that we see a lot more money flowing into financials
especially regional banks who have been under immense amount of pressure because of their aoc
losses on the balance sheet so as rates go down aocOC losses get mitigated, balance sheets improve, and so on and so forth.
So value creation is there.
So we'll just do DPST.
And you can just do that twice for me.
Doubling down on DPST for the rate cuts from Chris Patel.
And I'll call out the other couple picks I have here.
Jordan sent me his picks just because we were running short on time.
CONL and TSLT.
Knott's could not be here.
He had an event to go to.
TNA, he's taking triple leveraged IWM, and he's taking Rivian on the dip by there.
I'm taking Gold, GLD.
We'll see if the inflationary or anti-inflationary takes off on that side of the
trade. And then NFLU, I'm taking the 2X leverage. It was a little rough to me last week, but
it looked like it wanted to catch some support today. So NFLU. And I saw Gav Blacksburg up here,
Mr. Wolf Financial himself. Do you want to throw in a couple of picks, Gav?
Hey, yeah. Happy to. Doing good.
Excited about this market and where it is going.
First pick for me, has double leverage Tesla already been taken?
Two different versions of double leverage.
TSLT and TSLL have both been picked.
Yeah, that one's a good looking one right now. So we'll say, you know, shout out to those TSLT, TSLL,
couple of great picks right there.
All right, so if that is already taken,
then I'm going to go another route here,
and I'm going to go with, let's do GGLL.
That is a... Oh, someone just picked that oh my god no no g o o x was taken g g g l l is open all right yeah i kind of figured that the the other one would probably have been taken so
there you go uh i will go ahead and I will take
that. That is a double leveraged Google to the upside. And then has BMNR already been taken?
It has not. And I thought Evan may show up and take that one, but he did not.
Yeah, I'll take BMNR. How about that?
BMNR and GGLL from Mr. Wolf Financial himself.
And I've got a full list of stock picks here ready to let me go and get this tweeted out.
The funny thing about BMNR, I believe Rexhares filed.
It's not out yet, but they might have filed for it two times.
But I think the BMNR two-time VTF is actually available in UK, but not to US shareholders.
That would have been nice, though. I would have done that one, too.
There you go. I'll take it.
that's gonna be it for me though on the picks yep sorry i was just getting this tweet sent out here
That's going to be it for me, though, on the picks.
with all the picks let us know who your favorite pick is and big shout out to the crew up here
with us tonight boom there that tweet is now posted and i'll pin it up top and uh big shout
out to the whole stock picking crew continue to beat the market.
We were actually in line with the market this week,
but overall we've been absolutely crushing the market this year and some
just absolutely amazing picks.
Big shout out to of course,
Vegas taking the lead spot this week,
then second place and Nick Drendel in third place.
And we'll see how it goes.
Let us know underneath that tweet.
I'll pin it up top and let us know who you think is going to take the crown for next week. And we are going to rotate
the conversation here just a little bit. We were looking for the Canaan team. We'll see if we can
get them on stage, but we're going to talk some Bitcoin mining. Gab, I didn't know if you had any
thoughts around Bitcoin mining that you wanted to share a little bit. And we have a great crew
that's coming up here to talk about it.
I am all ears.
I want to learn a lot more about this.
Well, yeah, I mean, it's absolutely ripping right now.
I think a great way to look at the overall area is to, you know, you look at like an
ETF and then you dig down within there.
So I like this WGMI ETF. I feel like this one has done a good job of covering, you know, the,
one sec, I'm messaging with the team right now, by the way, to get them on stage. So I think people
can just pull up that, you know, WGMI and you'll see exactly what I'm talking about when it comes
to Bitcoin mining. This thing's up, you's up 65% this year, but 100%
coming in the last three months and really just going absolutely vertical. And you can look at
what this is made up of to get an idea of how powerful this sector is right now. So the popular
names here that people always point to are Riot. And Riot's also just been going berserk. That
one's up almost 70 last three
months and then another one is mara which is mara and that one is up a lot less only about six percent
in the last three months but it definitely has these spikes where you could say like one point
it was up 30 something percent um and so these are things that i continue to watch and look for
upside on it and the one that we'll be talking with tonight, if I can get them on stage, is going to be Canaan, right?
They also have had quite the surge in the last week, about 13%.
Last few months, similarly, about 13%, 14%.
But unlike some of the others, they're nowhere near all-time highs, right?
They're still at the low areas.
And so that's where I like to see if there's some opportunity for some upside.
It's not a tiny company, right?
It's almost 400 million market cap.
So this isn't like a 10, 20 million market cap or anything like that.
But it still can have more volatility because, you know, it's obviously sub a billion when
you look at something like Riot, right?
It's a $6 billion company here, right?
And so to me, I think that it's something where you have to, you know, obviously be careful and look through the details, but that's why we bring on the teams,
right. So that we can actually have conversations with them. But you can, anyone, anyone can take
a look and just see like how powerful this sector is. I know HUD, HUD eight's another one that I
continuously look at that one's up 62%, 90% last three months. So I just know that so many people,
you know, are trading these, investing in these.
And me personally, I'm pretty bullish on Bitcoin. It's a pretty significant holding of mine.
And so I am excited to see where these can go. As people are going to continue loading up on
these miners and just pushing more money into this area, I think you see a lot of opportunity.
So again, those are a few names to keep a look at. Most people don't even realize how much these
have been ripping to the upside, how strong momentum is, how strong liquidity is within
these names, even on the smaller names. So that's kind of my first initial thoughts,
but we could definitely pass around the panel, get some insights. Vegas, you trade a lot of
these names, right? Oh my God. I love all of them.
And you know what?
One of the cheaper ones, I don't know if you trade this one or not,
but have you ever traded CIFR, Cypher, Marty?
I haven't personally. Yeah, so you should have this on your watch list
because it's one of the cheaper stocks.
I mean, it's $10.91.
It's had a nice little move since I've been watching that one.
But this one here, it is tied to Bitcoin.
When the stock obviously moves, it has a very good buy rating.
And they produce, I think, 371 Bitcoins in their mining.
So they do a lot of mining, obviously, and it's high liquidity for a small cap.
So this is definitely one to watch, one of the lower priced ones out there.
So I do love them all.
What about Gree?
Have you traded Gree before?
G-R-E-E?
This is why I like doing these conversations.
I haven't even heard of green
oh my gosh this is called this is green ridge uh generational uh generation holdings and they're
also they're into bitcoin mining and energy production and they actually they're a small one
yeah they're small they operate a data center powered by natural gas but one thing is that
it's a very undervalued small cap with a
vertical integration. So they have mining and power. And I think there's potential for this
stock to have a big, massive move. I'm thinking heading towards $20. So not right now, but as
Bitcoin has its big move and Ethereum goes crazy, this is one to really do a little bit more digging on because I just love this price.
And I love what they do.
So definitely one to keep on that little radar because the key with some of these crypto plays really is to try to get in when they're not that expensive, because then they
get discovered and everyone's buying them. And another thing I really like about this one here
is that the insiders own 37%. And the float's not that big either. It's about 9.8 million.
uh the float's not that big either it's about 9.8 million and the institution uh has a um
they don't own tons they have like four points but insiders own 37 and i think that's a good sign
when i like i like to see insiders owning shares so this is a good one to check into for sure and
i have a cool website uh it's called if anyone's
listening here uh go you know go to the website greenridge.com and you can read all about them
and really very engaging site and they got lots lots happening so definitely one to check out
looks really really cool i have no position on it but i have traded this but i will maybe revisit this again
i'll have to look at the weekly chart and see how it's doing but since uh crypto's the theme and
it's looking hot i think gris uh ready it's the chart's not the best i will say that but it looks
like it could get set up it has to make some needs a little bit of work. Let me see where it traded today.
If you don't mind, just take me one second just to rechart this here.
You know what?
It is exactly over the 8 and 21 EMA on the weekly.
One to watch because that's going to attract those technical traders.
So this can head towards
like $2.15 next, $2.15 and make a move, some more moves here. So looks really good. And I think
the sellers are kind of gone. So look, put this one on your watch list, GREB.
Very interesting. You know, one that we haven't talked about here but that's
really i mean this is more in the data center region but does anyone want to talk about iron
for a minute here has anybody been covering that sam my god this is a crazy one
sam you want to talk about that one yeah Yeah, so I actually have a position in this company.
And the reason why is because I have a big position in Nebius.
And, you know, you're already seeing a lot of data center companies
that are already existing out there, especially hyperscalers,
that there's a lot of demand to keep up.
You hear it in all the conference calls,
all the earnings calls from Microsoft, Google, Amazon, AWS,
and so on.
They're basically saying they're compute constrained,
which means that there's a lot of demand
coming through the pipe,
and it's not just for training models.
It's also for inference models.
They can't keep up.
They can't build out all the data sets
that they want to meet in demand,
especially demand that's going to be coming
through the pipeline,
because inference is a big part of that.
You had a lot of training being done last two years, and now you have a lot of inference.
People are querying these models, not just consumers, but open AI, chat, dpt, or Google Xamarin.
We're talking about industry and institutional querying with large hyperscale companies,
especially Nightmaker.
So they need to compute.
So who did they turn to?
They turned to Nebius, which is a $17.4 billion contract that's signed for five years, room
to go up to $20 billion.
And even Google already signed up with Wolf, which used to be a Bitcoin miner that turned
into a data center company.
Now you have other miners that turn into data center companies as well like cypher and iron that never had a contract signed up with a large hyperscale yet so i think the
market's trying to front run that i'm in iron so it's 21 so pretty interesting seeing it run
um not selling cover calls anyways uh i'm not sure if uh i'm not sure if khanin team is here yet so i don't want to keep on going on yeah yeah
she just joined in gwyn how's it going i see her on stage might just need to tap that unmute button
or of course you know half the time when you join stage doesn't work there we go what's up gwen
hey guys how are you?
Doing good. Doing good. Exciting times in the Bitcoin mining space, to be honest. We were just talking through a lot of our favorite plays in the space and things that we're watching.
I walked through a little bit of what's happening with Kanan, but who better to hear from than
yourself? Would you mind, you know, as we get into this, by the way, people who don't know,
we've been working together with Kanan for a couple of months now, which has been exciting as we get into this a little further.
And really the thesis that we have here on Bitcoin mining is continuing to play out across the industry.
And so it's really exciting to be able to bring members from their team directly on stage.
Really not an opportunity to get with a lot of C-suite people.
So, of course, we're not making endorsements, recommendations. We're here to, you know, bring these publicly traded companies to the masses
via due diligence that you just can't get elsewhere. Like where else can you just get
people on stage and just ask them questions? So wanted to put that into the mix and just get that
out there as we get started. And with that, let's take it away. Gwyn, do you mind giving a brief intro of yourself and
who you are and what you do as we get into this? Sure. So I joined Canaan just over a year ago.
I am the vice president of corporate affairs, joined the company coming from more the semiconductor
space. But what I liked about Can was um this is a technology company it
invented the bitcoin mining asic that everybody uses today um the founder uh invented that back
in 2013 and part of his reason for fan founding the company is you know he originally made this
just for himself um just so that he could be a more efficient,
effective miner. But he was worried about decentralization. So he decided he wanted
to form a company so that he could send out his machines across the globe, which is what he did.
And, you know, all these years later, here we are, a publicly traded company. We're on our 15th generation of mining machine, headquartered in Singapore.
We have diversified.
We're now vertically integrated.
So in addition to doing Bitcoin mining machine sales, we also do our own self-mining. And then we also, as you know, Gav, we came out
with a consumer product where people can do Bitcoin mining in their homes with, you know,
attractive machines that aren't crazy loud, but that's made to also use the byproduct of Bitcoin
mining, which is the heat, to heat your room. So that's actually become quite an impressive
product line in a very short period of time for us. So currently, you know, the treasury part of
our business, we hold the coins that we mine other than to sell, other than to pay our energy costs. So as of the end of August, we held 1,547 coins.
So we're doing a lot of things.
We're involved in a lot of areas.
And like I said, I'm new to this space.
I've only been here a year and I've learned so much
and it's really exciting, both us, our peers, our customers.
It's really a great space, really interesting.
Appreciate those insights that you're able to bring to the table right there.
Why do you think right now is such an interesting time and why the Bitcoin mining industry is
picking up so much steam as we're getting to that latter portion of Bitcoin's to be mined?
But if you look at, I was pointing people to what I use as a little bit of a general
look at the industry, which is the WGMI, the CoinShares Bitcoin Mining ETF.
And that thing is just soaring right now.
It's at all-time highs today, closed at all-time highs.
So I look at it and I go, wow, the overall industry ETF, there's so much money and interest
coming into this.
So why do you think right now people are getting so excited?
Yeah, so I think I think with following this having, I think people realize that it's a legitimate business.
It's not something that's nefarious that they need to worry about.
More people, you know, with with the increased with the flexibility of ETFs and the increase in the
number of them, mainstream people are now realizing that, you know, they better get into this or
they're really going to miss out. I think I saw a statistic from Bank of America, which said that,
you know, if you're an older investor, you probably maybe have on average about 4% of your portfolio in something Bitcoin
related, where the younger generation has over 14% of their portfolios in Bitcoin on average.
So I think the acceptance, especially among younger investors, and as they move up and become
more mainstream, it's just getting more and more accepted.
And more people are realizing you need to have a part of this in your portfolio.
You should have some exposure or you really do have the potential of missing out on where the market's moving.
Great points.
I want to roll around this panel a bit, get some thoughts from people.
I know we have a lot of people who are very bullish on the world of Bitcoin here, as well
as on this mining side.
And by the way, Bitcoin, I mean, don't look now, but setup looks pretty great to me.
And, you know, as this moves, so does the miner so often.
And my thesis, by the way, on Bitcoin is very simple.
It's M2 money supply,
or total money supply, if you actually look around the world, being created. And typically,
there's a bit of a lag. But as the world's money supply moves higher, so does Bitcoin, right? And
so right now, we are lagging a little. The world's money supply has actually moved higher. M2 has
moved higher. And they're printing. And remember, by the way, this is moving higher in what people consider right now good, stable economic conditions. If we were perhaps to run
into something where it wasn't so stable, you would see that printing increase. And of course,
they already have the approval to do so. Bills are passed, everything along those lines. And so
So keep an eye out.
keep an eye out. The whole sector and industry seems very primed to me right now.
The whole sector and industry seems very primed to me right now.
Let's go over to Tropic, William, a couple others.
Matt's on here.
William, actually, your hand's up already.
So if you want to jump in, please go for it.
Yeah, Gav, no, thank you.
Gwen, wonderful meeting you.
I'm honestly, I could not be more bullish on these Bitcoin mining plays, simply for
the fact that mining, as a lot of us know,
obviously increases in difficulty every four years. And it's at a point now where it just
does not make sense to host your own mining when you have other companies out here that have
the resources and the means to do so. And so I think that gaining exposure to these companies,
it just makes, you know, it's just like a one-two, right?
It just makes way too much sense.
And I definitely agree with Gab's take on Bitcoin.
I look at it as into money supply as well,
but I'm excited to learn more about Canon too.
I mean, like that's, I never want to stop hearing
or seeing, you know,
more and more Bitcoin mining plays show up,
add to my portfolio.
Nice to meet you, William.
Can I just say something really quick?
Yeah.
Sorry, I just, not to be a stickler for semantics, but I do think it's important for people who
maybe don't have a technical understanding of Bitcoin mining. And I think terms and definitions
are super important. So I just
wanted to give a quick correction there that the difficulty does not increase every four years.
The block subsidy decreases by half every four years. And I think it's really important to make
sure that we are using the right terms for people because you'll hear a lot of talk about difficulty
when it comes to Bitcoin mining and difficulty actually adjusts roughly
every two weeks. And that's based on how Bitcoin is hashing, how the Bitcoin algorithm actually
adjusts its difficulty every two weeks is based on the total hash rate on the network and the speed
at which blocks are coming in. If it's faster than 10 minutes, then the algorithm adjusts to be more difficult
to mine. If it is longer than 10 minutes on average over that roughly two-week period,
then it will get easier. And so that difficulty adjustment is a term you'll hear a lot if you
decide to kind of go down the rabbit hole of looking into mining. So I just think it's important
to make sure that people understand the terms.
Thank you for the correction there. Yeah, I meant more so in the fact that obviously,
you know, the rewards do halve every four years, of course, or, you know, roughly every four years.
So I meant the, I meant difficulty more so in the sense that you need more resources to net
the same rewards or find an efficient,
more efficient means of mining it or, you know, find cheaper energy.
So there's definitely, you know, different routes there,
but thank you for the correction.
Yeah, absolutely.
And I think it's also interesting, like, just keeping on the technical side of things,
and then we can go back over to different companies.
The block reward that happens every time a block is found,
is made up of two components.
One is the subsidy,
which is a fixed rate,
and the other is the fees.
You could actually have a period,
and we will hit this at some point,
don't really know when yet,
where every single block is going to have a larger component that will be the fees, not the subsidy.
And I think that's going to be a really interesting inflection point in Bitcoin mining and Bitcoin mining companies because it will actually make their revenues a little bit less predictable than they are right now, at least in Bitcoin terms.
than they are right now, at least in Bitcoin terms.
So anyways, just more stuff to nerd out on.
If you guys are interested in Bitcoin mining and how Bitcoin actually works, I really encourage
you to go in and really understand how these companies generate Bitcoin and what actually
rewards them every time they find a block.
Because I think it's important to understand what's
happening on the back end and not just looking at, you know, what facilities are they deploying
and how are they doing their energy strategy?
All that stuff is super important, too.
But you've got to understand what's actually allowing them to generate revenue.
We love nerding out, Matt.
We love nerding out.
I love it, guys.
Gwen, do you have any thoughts you want to comment on these pieces before we go to the next hand?
I just wanted to, you know, talk, take it up sort of up to a higher level, which is, you know, you don't even have to be, for anybody who's listening in who might not be too technical or might worry that, wow, I don't really understand the halving and I don't understand exahash or terahash or any of these terms that get thrown around.
I think this, as you know, from my perspective, as it becomes more and more mainstream,
as you know, I was in Washington, D.C. last week talking to people on Capitol Hill,
trying to talk to them about, you know,
there's an application for what we're doing for mining that's even bigger than mining, right?
You know, it's tied to energy and it's tied to a lot of what Bitcoin mining does is make larger energy production more efficient.
So with HPCAI data centers,
everybody talks about them consuming so much electricity
and they do and so does Bitcoin mining.
But if you can use the two together,
you can really help to utilize Bitcoin mining
as your tool for controlling your energy.
So when things get really heated up on the grid
and energy is scarce and prices are high, Bitcoin mining can be turned off in favor of whether a
lot of the people on the Hill were worried that what if my consumers can't turn on their lights
because somebody wants to Bitcoin mine? It's not like that. Bitcoin mining
is flexible and it is the tool that lets the grid sort of be normalized. And you can dial it up
when you can, when energy is abundant, and you can dial it back down when there's a shortage.
So I think it's a really, really great thing, bigger than how we use it today. So the opportunities,
I think, are just endless. Matt, yeah, go for it. Then I have a question as well,
and then I want to get Sam up here too. Go for it, Matt. Yeah, this is, that specific topic,
the energy side of things is, is what I'm probably most interested in because that's what I work in. I do energy improvement projects for
some stuff for natural gas plants as well. So if you all ever have questions on the power
generation side of things, I'm happy to go that direction. But I did just have a quick question
for Gwen. So Proto has come out with a new, more institutional, I would say, targeted hardware.
It's very early stages, so we don't know too much about it.
But they're at least claiming that there's going to be a 15% to 20% savings in maintenance and upkeep.
And that would be massive for anybody who's deploying at like an institutional level.
And that would be massive for anybody who's deploying at an institutional level.
Are you guys looking at doing anything to try to compete with that with Canaan?
Are you aware of any stuff like that?
Because I know that's something that has been a big issue for a lot of large miners is just the maintenance and the customer service they were getting from like Bitmain was pretty bad.
Yeah, that's one of the reasons that we only entered the U.S. market in,
I think, 2022. And one of the reasons that we've had some pretty good success pretty quickly was
because there was a lot of unhappiness with Bitmain and their service. And for example,
service. And, you know, for example, what we've been told is huge amounts of their machines
arrive DOA dead on arrival, like 30, 20, 30% or something where our machines arrive at, you know,
that we have some DOA, but it's maybe like two or 3%. So that's hugely different. So part of our
being is just to really focus on customer service. We have service centers in the U.S. to
help make sure that the service center is close to where our customers are. But the proto part,
I think, is really interesting. We put out an announcement, I think, three weeks ago, maybe,
about a project that we worked with Bitfury on, where we shared some R&D.
And what Bitfury was doing was they have, you know, big, huge data centers around the globe,
and they wanted to upgrade one of their data centers. But when they initially built the data
center, they had made huge investments on, you know, custom form factors
and the racks and the power supplies.
They were all really, really high end,
but now it came, those machines are now somewhat
less competitive.
So they wanted to figure out a way to upgrade the machines
without having to upgrade the casings
and upgrade the power supplies
and do all that expense again.
So we work with
them, came up with pretty much a hash board so that they could just swap out the hash boards
into the old machine so that they were running, they're more efficient. You know, it saves,
I don't, we didn't put out a number for this, but it saves on, you know, not only does it make their fleet competitive again, it also saves a lot from an environmental perspective because they're not throwing away the casings.
They don't have to throw away power supplies or do anything.
So it's a lot more efficient from an environmental perspective as well.
So we were really excited about that.
It was a pretty good opportunity for us.
It was really an exciting challenge for our R&D teams
in conjunction with Bitfury's R&D teams.
And what we're hoping is they have other facilities like that
and we're hoping to expand that program
throughout Bitfury as well as offer it
to our customers as well.
So that sounds like more of a white glove service specifically for I guess anybody who has a custom
form factor but not necessarily looking to deploy anything new, targeting, I guess, expansion of data center infrastructure
for people who don't have a already built and designed, at least outside of what you're
already currently doing?
Yeah, no, I mean, we don't have anything.
But I think that's what the Proto project was, wasn't it?
I mean, I think they were just doing wasn't it initially of course scientific project that they were working on just to be able to swap out
the hash boards and regardless of the form factor I believe so yeah but then I
think they're moving forward to I guess it's just the the it's like a, it's a whole rig and it has, I think it's three mining boards
that can be replaced in the same amount of space that would be occupied by like two traditional
miners. So it's trying to compact the space as well. So that's something that's a little bit
different from just being able to actually pull the boards out, to my understanding.
But I also I don't have a whole lot of information on it.
So I'm I'm trying to learn more, but also just trying to understand what what other people are doing, because I talk to a lot of miners. The biggest challenge or one of the big challenges for Bitcoin mining is, of course, heat and dealing with the heat.
And the more compacted your machines are, obviously, the more heat you have to deal with.
So that'll be interesting to watch. I'll be interested to keep an eye on Block.
Thanks, Matt.
Yes, Sam, what's going on, man? Thanks, Matt. geared toward mining crypto. We've seen a little bit of a little bit of a changeover with a few
Bitcoin miners that are still that are still mining Bitcoin. But at the same time, they're
heading toward trying to really acquire contracts with major hyperscalers and large,
large entities. Specifically, we have Iron basically building out their entire data center.
I think they're like around, I think they're speculating around two, well, not speculate, Specifically, we have IRN basically building out their entire data center.
I think they're like around, I think they're speculating around, well, not speculating,
they're expecting around two gigawatts for 2026.
You have Cypher as well, and then you have Wolf already signed up at Google.
These ASICs that you guys actually build out, are any of them, do they have an alternative compute that's actually built toward data center general compute, or is it just specifically miners?
Yeah, it's specifically miners, and that's the part with ASICs.
They only do one thing, so you can't create them to do sort of, can you turn it this way to do one thing and turn it another way to do another thing. It's one task. And in this case, it's Bitcoin mining. We did have
some projects where we were looking into, or we were developing and had developed an
AI chip. And we worked on that project, but I think we determined that you can't really focus on everything and be great at everything.
We consider ourselves great at Bitcoin mining ASICs and didn't want to take away from that focus as well as there was a really big expense. So I think it was last, on last quarter's earnings call,
or last, I believe in Q2,
we announced that we were spinning out our AI chip project
and going to continue to focus just on AI.
But to your point, yeah, a lot of companies,
a lot of our customers are pivoting to HPCAI data centers.
And, you know, I think those are huge contracts when they come. I think we've only just started
to see that and start out with a lot of customers, but many are building out their data centers so
that they can be HPCAI compatible. But there's a lot, there's a long,
long path when you go down that road. It's very expensive because HPCAI data centers cannot go
down. You never can have, you know, if it goes down, it's pretty catastrophic and it takes
months, if not longer, to bring it back up.
So there have to be so many redundancies, which, like we mentioned before, with Bitcoin
mining, that provides a lot of flexibility to those data centers.
So I think what you probably will see are customers that we have now pivoting to HPC AI, but also keeping a portion of that
in Bitcoin mining so that they're able to, as I talked about before, use it as a tool
to manage the grid, to manage their energy source so that, you know, with Bitcoin mining,
you can turn it off and, you know it gives you that flexibility
um so i think together that's that's the where they're going i believe
great and uh one more question and i'm sorry to throw this at you but obviously you know we're
trying to market to retailers they're trying to understand the big picture here and i already know the answer because i think it's a little convoluted like
let's be honest we're not going to run into the point where quantum computing is actually going
to decrypt the blockchain but i just wanted you to voice your opinion on it in terms of being an expert in this space.
What are your thoughts on the basic speculation that at some point,
quantum computing will be able to decrypt the entire Bitcoin space
and then therefore take out really the alpha in the whole situation?
Yeah.
So what I understand is that if that happens it's not i mean you have you
have worries beyond just our space uh you know banking anything you do online is at risk if this
happens it's not just bitcoin mining so i i think um whether it be from a regulatory perspective or something will happen,
that, you know, if they're taking Bitcoin down, everything else is going with it.
So I don't think that'll happen.
I think that there'll be some sort of controls or something that will keep that from happening.
Because, like I said, it's more than just Bitcoin.
It's banking.
It's anything you do online.
It's, I don't know, in the U.S., Social Security and health care and everything.
Your password, all your passwords would be meaningless.
So I can't imagine that happening.
I have a fight that's out there, fear and certainty, doubt when it comes to that sector. I mean,
obviously, you know, there's a lot of speculation that it will amount to something that's very,
that'll be very big and life-changing. In my opinion, I think it's a bit early,
but I really appreciate your input. Thank you very much.
Thanks, Sam. Appreciate it.
Great stuff. Great stuff. I see Tropics' hand went up. We definitely want to bring it over to him.
Hey, guys. Yeah, I appreciate that answer because people always bring that up to me, too.
And I'm just like, the answer that i always give is i mean you have
military systems you have governments banking so much other things to worry about it's like the
same question people ask well what are you going to do if bitcoin fails it's like well if bitcoin
goes to zero we have so much bigger problems in the world to worry about then then the price of
bitcoin or where it's going is trivial but But directly related to the company, though,
I do have a few questions. Since you have an interesting, I guess you'd say, balancing act,
you have two arms here, you have the actual mining side and the hardware side. So I was just wondering, what percentage of the business would be in each? Or is there other revenue streams as
well? Yeah, so right now we have three revenue streams. The bulk of our revenue is still from machine sales. That's probably about a little less than 70% of revenue comes from that.
Probably 28% of that last quarter, I think, came from self-mining activities.
And then the rest of that came from our consumer product, which are the new products that we launched at CES for people to be able to home mine and heat their houses at the same time.
to go back to my initial statement, the reason we came up with these consumer products
was because our founder, our CEO, is very much concerned that everybody had the opportunity
to easily participate in Bitcoin mining. You know, there might be people out there
who aren't comfortable buying an ETF or aren't comfortable trading stocks or for whatever reason.
They just don't want to do it that way.
They still have to heat their home.
So our little machines are pretty easy to use.
You know, I have one here at my feet right now, even though it's not on.
But, you know, it's something you can just plug in. If you can use
your cell phone, there's an app that you connect to the network and, you know, boom, you're part
of a pool generating Bitcoin. It's pretty much that easy. So he wants everybody to be able to
participate, whether you're doing it to accumulate Bitcoin or whether you're doing it to heat your
house or just to be part of it, just so that you're not shut out and, you know, 10, 20, you know, 50 years from now, you don't have any Bitcoin
or any exposure and you're totally, totally left out. So it's still a small part of small,
but growing part of revenue in a very short period of time. It's a few percentage points of revenue. I think it was $5.7 million that contributed to revenue in Q2.
We have orders that support another $10 million,
which might not all be delivered in Q3,
but that could certainly become more meaningful over time.
So we're excited about that as well. But
well, bulk of the revenue continues to be machine sales and self-mining is a large piece as well.
I think that's a great and interesting use case for the byproduct, which is heat. And
so many industries, I think, the byproduct that is created becomes its
its own industry in itself or its own use case and the heat that comes off of these miners i find that
it's a really great way to like kind of offset the cost of mining but is there any i guess you'd say
application that let's say someone lives in i don't't know, a tropical country, somewhere it's nice and warm, and they want to get into like this whole thing. And is there any other, I guess you'd say hardware
that's using the heat in different ways other than just, you know, being a space heater?
Yeah, so I know we're not working on a project for this yet, you know, for consumer products, but I know that in, I believe, Norway and in China, some energy companies or government agencies have used the heat, the byproduct, to heat water, to provide free hot water to everybody in the villages.
So it doesn't have to be, you know, if you live in the tropics, you probably still want
hot water.
So there's something there for you as well.
I think, I mean, we're only just scratching the surface of it when you think about this,
you know, because the consumer products are new for us.
But once you start thinking about it and thinking about ways that it could be used, you know, because the consumer products are new for us. But once you start
thinking about it and thinking about ways that it could be used, you know, there's so many ideas
that start popping around your head. And, you know, that's the nice thing about our founder CEO.
I always love working for founder CEOs because they always are passionate about what they're
doing and they come up with these great ideas. So, you know,
if you have ideas, Tropic or anyone listening, always feel free to share because,
you know, I think there's just so much we can do.
That is a really cool idea. I didn't even think of that myself, which, you know, that actually is
my, probably my second biggest draw of electricity in the house. And yes, I am in warm weather.
So yeah, the water, I have one of those on demand systems. And I didn't even think of that when I
asked the question, that would be a great use of it. So I'm glad to see that you guys are thinking
of that. Second, or I guess this is the third question that I have, then I could pass it to
anyone else if there's any other questions is, you know, last cycle, there was like this huge scare when it came to,
you know, managing debt and the price of Bitcoin and everything with mining plays and so forth.
So based on what was learned during the last cycle, when all that was happening with the various
players within the industry, how are you guys looking at the future?
And I know it's a different climate now with where Bitcoin is and so forth, but basically
learning from the lessons of the past, what are you guys doing to, I guess you'd say,
prevent that from happening, which was a huge problem in the industry last time around?
Yeah.
So we've always taken a very conservative stance. That's part of our
CEO and CFO's mantra. They look at things conservatively in terms of running the business.
Obviously, they're great coming up with innovative ideas, but when they look at the business,
look at the numbers, they're pretty conservative. And so they didn't, they weren't as aggressive
as some of our competitors in pricing machines
that led to a lot of bad things.
One of the things though, with our treasury policy,
one of the benefits of holding our coin
and growing the treasury is that we're able to look for opportunities to fund our business
by using the Bitcoin as collateral. So we still hold the coins and we still own the coins,
but we can get short-term loans at very low prices that help us fuel our own business.
So that's pretty exciting for us because it's put us on a lot firmer ground.
We, you know, we have in the past, of course, raised money and done other things like that.
But for the most part, you know, we look at things conservatively and we try to not be a company
ourselves in huge amounts of debt. And we don't want our customers to have to
incur huge debts. And we know that makes it makes it really, really hard for them, because, you know,
they want to upgrade their fleet, they have to raise money. Or in the past, it was always they'd
have to work with Bitmain, they'd have to buy Bitmain machines because Bitmain is huge and has a lot of capital so they can lock in customers because they can provide financing to them.
And I'm not sure, I think this was probably two weeks ago, we put out a press release with a company called Luxor, who was willing to help our customers fund machine purchases.
who was willing to help our customers fund machine purchases.
You know, they still ultimately, you know,
have to come up with the money at some point over time,
but it does give them the option.
It gives them a choice.
You know, they don't have to go to the capital markets
or Bitmain.
Now they have another choice of they can go to the capital
markets, Bitmain or canin and our partner
luxor to raise funds to to stay competitive in their business i see you hand it from matt
yeah i didn't want to disrupt it but i just want to say I had talked to a few people that are doing some other cool stuff with their reuse of heat for Bitcoin mining just to toss a couple things out there for you ideas wise.
use if you are in a colder environment. And then another one is, I believe there's a company,
I want to say actually in Africa, that is using it to dry cocoa to make chocolate, which is pretty
cool. And then the other thing I wanted to just comment on to throw some numbers out for you guys
on the quantum question was right now at the absolute highest, you're talking in the thousands of qubits.
I think it's like the Google machine that they just announced.
They're at like a thousand qubits and they're trying to get to 10,000 or maybe it was IBM.
I can't remember which.
But either way, you're talking about single digit thousands of qubits,
which means when you actually are looking at like error corrected qubits, it's like one or
two. And what that means is they can't even really run algorithms yet, let alone run one that could
even attempt to attack SHA-256, which would require probably in the billions of qubits
realistically to actually do something to try to actually crack SHA- Shaw 256. So we are so far away from that being a
concern right now, in my mind, that it's just it's kind of funny to me that people spent so much
mental energy talking about it. If you've been in Bitcoin related spaces in the last year at all,
there was a whole wave for a while there of FUD around quantum computing. Anytime there's
a new announcement for many of these companies, a wave of quantum FUD sweeps through the community,
which I always find to be pretty funny because it would require such a much more sophisticated
machine than what is available right now. And there are a bunch of easier algorithms that would be broken long before SHA-256. And then lastly, even with Bitcoin itself, there are old addresses
that would be cracked before SHA-256 would be cracked in the worst case scenario. So
for me, as someone who's been around for a long time in Bitcoin and Bitcoin mining,
just on the more technical side of things, I see it as a complete non-issue right now.
So I really don't think anybody should lose any sleep over it.
But I don't want to go too nerdy on it because I know this is probably not the time and place.
So I just wanted to throw that out there for you all.
Matt, it's always the time and place.
Always the time and place on Wolf Spaces, man.
You're so wrong there.
I also wanted to point out that I believe there is a company in New York that heats their saunas in all their hot tubs with the Bitcoin mining.
So I thought that was pretty cool.
I'm trying to convince my wife currently to get rid of our dryer and replace it with a bunch of Bitcoin mining rigs.
But we'll see what happens there. I'll keep you guys posted on that. Probably not going to go well. We'll see. I know some people are doing floor heating too with it.
Basically anything that can use like low grade heat in the 130 degrees in lower range is you
can use Bitcoin mining as a heat source for that obviously if you need to like boil water or
something you you're not going to be using the mining rig unless you're using it for like preheat
but anyways so how do you buy this product like where do i buy it like is it online like how do
you get one um the consumer products the Canon products, you can find them online.
There's some distributors that sell them.
You can get them on Amazon.
I think you can buy them on our website as well.
So I've seen them in a lot of places.
And if you don't know anything about them and you want to know more, there's a lot of reviews on YouTube and other places that are pretty thorough.
And we have three machines, one sort of a little hand warmer, hand foot warmer, another sort of like a baseboard heater.
And then we have a big one called the Avalon Q, which is obviously quiet.
That's what the Q stands for.
That's the bigger one that does some pretty big,
I think it's maybe 80 or 97 terahash.
So it's a pretty respectable machine
in terms of being able to be almost an industrial machine.
So it's exciting stuff.
Thank you very much.
Sheila, of course I hear.
Go ahead and ask your question, and then I've got one as well.
Was that to me?
It kind of broke up there for a second.
Yeah, go ahead, Tropic.
Okay, cool.
Yeah, as far as, since we started to talk about the hardware and what have you,
I have a question.
As far as where does the supplies come from?
Because I know there's a lot of tension on Taiwan, China, that whole region
and so forth. So what are you guys doing as far as maintaining a steady and stable supply chain?
And in case anything weird does happen in the near future, how are you guys managing that?
Yeah, so we have a multi-fab strategy.
So we work with Samsung and TSMC
on various generations of product.
We have three production lines.
We have one in Malaysia, one in China.
Those are the same size.
They have the same capacity.
And then we have a third line
that we just built an assembly in the U.S.
So depending on prices and tariffs and customer demand, we'd like to expand the U.S. one.
Particularly, you know, it'd be great to service our customers close to where they are.
That would make delivery times a lot shorter and everything somewhat easier for them, but
it depends on their demand.
So we'll see how that goes.
But otherwise, the supply chain, we've been doing this since 2013, so our relationships
with our partners and suppliers is quite strong.
So we, yeah, I believe, was it in the spring?
There was some government regulations that had changed to where you could do your packaging
or what companies you could do your packaging.
And we were able to pivot and, you know, pretty much seamlessly, you know, maybe we lost a
day or two.
So we're really
well connected um so that hasn't been an issue and i wouldn't anticipate anything never say never but
i wouldn't anticipate any issues
really cool there and i will pass the mic thanks tropicader, I don't think we've heard from you.
Or maybe I missed it.
But I would love to bring you into the conversation.
I know you had a question and a hand up there.
How are you?
Thank you so much for having me up here.
Really excited to be here.
I'm doing well.
It is so confusing.
AMP and Gav, you sound identical most of the time.
It's very hard for me to understand who I think I've
got a hang of it now after all these days but yeah still you sound very very similar to me
and of course me being a bilingual multilingual actually doesn't help at all my cause but
glad to be here today. I'm definitely I learned a lot today about how some people are using mining the energy or the heat sources from it to do different things.
That's pretty incredible, actually. I have not looked into that.
I'm pretty much in crypto full time doing a lot of investments and things like that.
I do have a couple of questions. So first of all, I follow historical data. And so
I'm really taking a position right now that we are Bitcoin has pretty much either topped or we
are very, very, very close to the top. And then what happens usually, it's a cycle that is
continued. And of course, there's going to be a lot of differing opinions. A lot of people are
going to say it's going to be different this time because of x y and z yeah it may be different this time and we'll see maybe i'll be wrong but i haven't been wrong for a very
long time about it actually never been wrong about this one this particular one and so what happens
is that bitcoin goes through this halving cycle you have the halving the year after the halving
is the barrier and then the year after that is a barrier this is or i'm sorry the year after the
halving is a bull year and then the year after the bull year is the barrier. This is how it's been very consistent
since Bitcoin was created. And so you could just go back and look at it. And it has been
exactly identical. You can count the months from halving to the top and then top to the bottom.
You know, it's just very, very, very close. Like it's all the same. And so we had the halving of course in 2024,
which means this year was the bull year.
And then next year is going to be the barrier
according to that cycle,
which has been accurate since the creation of Bitcoin.
And so what I'm looking for is of course,
some opportunities and miners and everything else to,
you know, get into short
positions through leaps. That's what that's my game plan. Bitcoin is definitely on the
monthly chart clearly shows a topping pattern. So unless it, you know, it creates a new all
time high and closes above it, then it would be invalidated. But again, it's still in the
same time frame, right? Because we are still technically in 2025.
So we could still see some bullish price action and then it's done for.
But when I look at the miners, it looks like they are really bottoming out, actually, some of them, which, you know, which is like, OK, what's happening here?
Is it going to decouple with the traditional crypto sector?
Because people are going to probably still mine because they are still you know keeping the bitcoin right they are still buying
or trying to mine and accumulate as many bitcoins as they can and during the bear market it's
actually a good thing to do is you accumulate through mining and then you can sell it at the
end of the bull market if that's your game plan so i want to ask how does your strategy like how
do you feel about this whole
four-year cycle? Do you think it's going to be different this time? And also, do you think there
could be a decoupling between the miners and how Bitcoin has played consistently historically?
Yeah, I think when you look at the miners, there's a different multiple on miners who are
staying, at least for now, as pure play miners and those who are pivoting to an HPCAI strategy as either part of their strategy or instead of Bitcoin mining.
So I think, you know, you'd need to look at those and do the research on whether they're pure plays or whether they're, they're having HPC strategy in terms of wall street,
it seems to go the HPCI strategies somewhat come and gone a year,
you know, over the last year it's back.
And it seems to be what the market likes, what they're looking for.
You know, from, from our perspective From our perspective, we don't track Bitcoin really
over cycles. Our strategy is to hold regardless. If anything, we authorized a new treasury strategy
where we do have the ability to buy on the dips. And just like any other trading vehicle, you know, sometimes Bitcoin's
volatile, it might be more volatile than some, but not as volatile as others. So we buy and
hold and try to utilize and capitalize on our huddle. So that's what I can only speak
for us. And you all are far more knowledgeable than I am about the broader Bitcoin trading play.
And Gav, thanks for also putting CAN on my watch list
because I did not have it prior to this space.
So I'll be looking into them a little bit more.
But yeah, I did call Bitcoin top in 2021
and then also Bitcoin bottom again in 2022.
So now I'm calling bitcoin top again um
from the monthly chart perspective so we'll see how it works out but always always great to to
learn more about what what you guys are doing so i'm going to be doing some research on that and see
if it's a viable play even for the the bear market thank you so much for having me i do see some of
the hands went up so would love to get their thoughts as well.
Thanks.
Yeah, we got a couple.
I don't know who was first.
Tropic was first.
It's all good. You can go, because I've had a million questions. I was going to say,
make them fight for it.
Yeah, exactly.
Fight for it.
Well, I'll just, I guess I'll start with a quick question, which is, are you strictly looking at charting or is the changes that have happened on a fundamental level with the bitcoin space over the past year it it could lead to unintended consequences on your strategy so
are there fundamentals or is this just so it's not just the charting but the historical data
which has been very very consistent since the creation of bitcoin like i said it hasn't changed
at all of course fundamentals always kind of fall into play.
Like I did not know going into 2022 why Bitcoin was going to crash.
No one could say why, right?
Because fundamentals were very strong at the end of 2021.
But then FTX happened, Luna happened, and then we all saw what happened.
So I cannot tell what's going to happen next year, but I do believe we have either topped
or we are very, very close.
If we've already topped, I was actually expecting September to be the top. So I'm still a little
bit off, which, you know, I've been off like a couple of weeks and that's about it. Previously,
I was off a couple of weeks as well, but very, very close. And so it seems like we are topping
out based on historical data. You have to count how many months it is since, you know,
like the previous tops to the previous halving. And then when you put that into perspective,
you'll see it's pretty much exactly the same. And it falls around September, you know, of this year.
So I was hoping between September 20th and the end of September is when we are going to see a new
all-time high or, you know, basically a top on Bitcoin, but it topped out in August.
So I'm, you know, about 20, 20 days off or something like that.
There are a few weeks off, actually.
So, yeah, that's really my take.
I'm not looking at the fundamentals when it comes to this, but not purely technicals and not purely the chart.
But of course that, you know, the months from halving to the top that has been very
consistent previously as well yes i'm definitely familiar with the the cycles in the past and i was
i first got into bitcoin in late 2016 early 2017 and traded it stupidly and lost made a lot of
money and then lost a lot of money. So I've tried to do that
over the past and have definitely settled on more of what Gwen was talking about, which is the buy
and hold strategy that I've been doing since basically 2020. And I don't try to trade or
get fancy with it. And I guess the reason that I asked the question is just because from my perspective, it is so different now than it was in the past that trying to treat it as if it's going to follow the cycles that were largely retail dominated in the past is I would just caution against it because there was not an on rampramp for institutional capital to flow into Bitcoin
before in a easy, regulatorily clear way, right? Like you would have had to do,
I mean, I guess grayscale would have been the only way to really get exposure. And that wasn't even
actual true exposure like the ETFs are now. So you have that component of it that is a complete wild card, and it is the most massive
wild card you can possibly have because the order of magnitude of capital that can flow
in is just so much larger than it was in the past.
And then if you also look at general retail interest or excitement in Bitcoin right now
near a all time high in comparison to previous cycles.
It's just, you know, it's been almost like bear market X at times recently where we've
just been range bound above 100K, which has been kind of wild to me because that is completely
different from how it felt in 2021 when things were frothy and everybody was super excited and
we were going to have $100,000 Bitcoin
by conference day and everybody was just going nutso. I don't see nearly as much of that now.
So between the ETF and just the lack of retail excitement and then potentially us moving into
what I think most people would say is an almost guaranteed rate cutting cycle by the Fed over the rest of this year. I know for me personally, I wouldn't be trying to take out any long term, you know,
like any leaps that are short anything. And to your point, a lot of the miners are fairly bottomy
looking right now, and they've got kind of wrecked earlier this year. So I personally would
definitely not be looking to short any of those. But like I
said, full transparency here for everybody. All I do is buy and hold spot Bitcoin. I don't even
trade miners. I'm just interested in the actual hardware and the tech application way more so
than trying to do portfolio management strategies. So I want to make sure that I'm clear on that for
everybody. I just I've been around for a little while. So I wanted to make sure that I'm clear on that for everybody. I just, I've been around
for a little while, so I wanted to give my 20 cents on the topic. So that's my thoughts.
Love that, Matt. And quickly, I'll say that what you mentioned about ETF, definitely a valid point.
I'm hearing a lot about that. But at the end of the day, ETF managers are also going to have to
liquidate their position at some point. So we've seen BlackRock selling to balance their sheets.
So we're going to see that as well.
But yeah, you got valid points, no doubt.
Until it proves me wrong, I'm going to follow my thesis, of course,
and see how it plays out into next year.
But yeah, it was a great conversation.
Yeah, absolutely.
And I would say I'm not sure if you're familiar with the story,
but I think it's the closest parallel that you can have because Bitcoin to me is a fundamentally different asset from anything else.
But the closest thing you could look at was the approval of the ETFs for gold.
When that happened in the early 2000s, gold went on a multi-year bear run with really no major corrections.
And I do think that that is a highly likely scenario that could play out with Bitcoin.
I'm not saying that's what's going to happen, but I do think looking into that as a possible
parallel is an important thing to consider when you're looking at your risk management strategy
for this. Look at what happened with gold when that ETF got approved because institutional capital
just started passively flowing towards GLD and just really didn't stop for a long time.
So risk management is really important, Matt.
And that's why I use 100x leverage on all my trades with Bitcoin for sure.
Tropic, I see your hand up.
So I'm going to throw it to you and stop talking.
Well, bringing it back to this, the Canaan conversation with a direct question. That's what I'm good for. I'm good for questions. So I don't have the expert analysis of breaking down charts and trends and so forth. However, I'm very good at asking questions. you guys just came in the company, just holds their Bitcoin. And earlier you had mentioned that you're using that to secure, you know,
to collateralize the loan and you're getting cheap loans.
But then later you said a Bitcoin treasury play,
which obviously that's like, that's two different strategies.
And I think, you know, you could use both,
but I was just wondering as far as does that mean there's possible dilution coming down think, you know, you could use both, but I was just wondering as far as, does that mean there's possible dilution coming down? Because, you know, based on what we're
seeing with strategy and other treasury companies and so forth, how are you guys balancing that?
And I'm just thinking of this in relation to the stock itself. Yeah. So no, we don't do what
strategy does. When I use the word treasury, I used it more as sort of like we're using our treasury just as collateralized loans.
So sorry for the confusion.
Thanks for pointing that out, though.
Awesome.
Thank you for the clarity.
I was just curious.
Again, I just heard the word and I wanted to know. So I appreciate that.
Thanks.
Gwen, I'd love to hop in and ask a question here as well. Bitcoin as a whole, whether the cycle thing, we get a pullback and everything, but Bitcoin as a whole is like an investment vehicle.
as a whole is like an investment vehicle.
There's treasuries as we were just heard mentioned there,
there's the miners, there's SpotBitcoin, there's ETFs.
Where do Bitcoin miners really kind of fit into
maybe the investment around Bitcoin?
And then for you guys that actually, you know,
sell some of these machines and those aspects of it,
is that something that maybe people should
look at you and say, well, it's not just a Bitcoin mining company? Yeah, so I think, so our company
has evolved. We used to just sell machines. And what happened was we became extremely vulnerable
during the cycle. So, you know, during the bull market, we never had enough machines.
And during the bear market, we always had too many machines, as did all our peers.
You know, it became more of a, the question was more of, can you survive?
Can the Bitcoin mining machine makers, the ASIC makers, can you survive the cycle? A lot of new
entrants. And in this one as well, it happened too, where new entrants came into the market.
But it was more of an inventory management issue. So we started doing self-mining so that
the way we're structured currently is that during a bull market, if
people are clamoring for machines and if the ASP per tier is increasing and it's more profitable
to sell machines, we'll use the machines for that. But then when we go into a bear market,
rather than having to sit on that inventory or sell it at a loss or take a right off of that,
we're able to instead utilize our machines
in our own self-mining fleets
so that we can use it more profitably for self-mining
as opposed to machine sales.
So we've developed a more flexible model,
which can help us weather the cycles better, which we
hope will ultimately mean that our stock is less vulnerable.
That's really interesting.
So you think about if you guys have a surplus of inventory, you can actually utilize that
inventory.
And then if you have maybe a higher demand period you would sell some of that or
am i hearing that exactly yeah yeah yeah so you know we're we're always making more machines right
we're always making new machines so um you know you can either if if demand is high you know they
don't sit in inventory um the inventory turn is high. But if demand is low, there were during the last bear market, machines sat in everyone's inventory.
And prices just got lower and lower because inventory would just sit there.
But now that doesn't have have to happen now that can be
those machines can be used to expand our self-mining fleet or you know depending on
on you know whether we have new whether we have the opportunity to build new uh sites at that
time or we can always take you know if the uS. machines need to be upgraded, we can put new machines in the U.S. sites and then take those old machines and repurpose them in a lower energy cost location, a site in, say, Ethiopia or somewhere where we have mining sites today.
Yeah, that's super interesting.
That business model itself is very, very intriguing to me.
It's almost like if I think about if Tesla has too many cars in their lot and they can send them out to RoboTaxi.
And then if the demand picks up, they could actually end up selling some of that.
That comparison of being able to use the inventory that you're selling for another purpose.
It's very interesting. I saw Tropics go up and maybe it sparked a question in his mind as well. Comparison of being able to use the inventory that you're selling for another purpose.
It's very interesting.
I saw Tropics can go up, and maybe it sparked a question in his mind as well.
Yeah, thanks.
Yeah, definitely.
Her answer as far as how they pivoted to the mining side did spark a question. The question that I was having was, seeing that you're selling the hardware, do any of the other miners that are buying your
equipment now see you also as a competitor? And how do you balance that? Because the reason why
I asked that, what sparked the idea for this was I remember when Google first bought Motorola,
and the other manufacturers that were building Android phones, all of a sudden they're like, okay, well, now we're using their systems, but now they're also their competitors.
And they had to kind of divest for that.
It was a little bit weird situation, a little bit different than this.
But it does spark that question.
Do your customers see you as a competitor in any way now?
Yeah, no, that's a great question, but they don't.
And it's our strategy not to compete with our customers. You know, our customers are number one.
There's a lot of small sites out there, which for them, you know, they wouldn't be interested in
a small megawatt site, where for us, you know, that's a great place for us to just get a toehold and just, you know, put some machines.
So we're not at all competing with them. That's not part of our philosophy.
It's more of an inventory management tool and just us trying to stay flexible. So we won't compete with our customers.
And that hasn't, I don't even think that's ever come up in a conversation with customers at this point.
We're just too small and our aspirations aren't lofty enough.
Thanks, Troy.
Fair enough.
And in regards to the size,
compared to the other people in the space, do you have any kind of breakdown as to say what size of the market that you actually do have or control or whatever?
I don't know. I'm probably not just like miners do, we thought it would be helpful if we published our monthly production updates.
So we do that every month. You can find press releases and you can go to our website and sign up if you want to get them sent to you automatically.
So globally, we just have eight active projects.
We just have eight active projects.
Those have been energized.
Let's see, I think about, I think it's over eight exahash is energized.
With the rest of it's in process.
In total, once everything's energized, it would probably be just over 10 exahash globally.
So we're tiny compared to our customers.
I think that we do have, I mean, globally,
I think our CEO is out on the road with him the other week or last week.
And I believe he said that we are about 1% of the global hash rate,
which for us, I mean, that's a nice number. That's, you know, kind of respectable. So
we're pleased with that.
Lots of room for growth. Yeah, I really appreciate it. I mean, I've just been rattling
off these and, you know, I appreciate the fact that you got some answers and what have you. So I feel a lot more informed about the company.
And this has been a good one, great conversation.
And I'm really going to just dig into the website, see all the things that you guys are doing and talking about all those different applications for even what's coming down the pipeline as far as heat management.
And you just gave me so much to research.
So I really appreciate the space.
That's great.
Thanks.
Thanks so much.
Your questions and everybody's questions have been wonderful.
It's been a really great experience.
Yeah, definitely been a great conversation.
Gwen, we really appreciate your time.
And I know we're a little bit over here a little bit, but the conversation's so good.
The questions are so good.
And even some of the knowledge shared from Matt, Lady Trader, and others on here, we really appreciate that.
Gab, wanted to check with you and see if you had anything else on this space. Hey, nothing else for me on tonight's space a lot of the stuff that i had questions on got asked
throughout but i'm glad we were able to get you up here gwen glad we're able to do the full hour
together and really bring this information to the audience i know there's so many people that are
just trying to learn about this space right now so this was perfect timing in my eyes. Great. Thanks, everyone. Happy
to help. Always here for you all. Yeah, definitely. The Bitcoin spaces on this,
just the amount of curiosity and the amount of people hungry to learn more, these spaces are so
great for that. And I see them everywhere across this app. So I really appreciate the whole crew
that joined us up here.
Gwen, any final thoughts, comments,
anything that we should be looking out for from your end
before we close up?
Yeah, I mean, I think we're just at the beginning
when you think about it.
This is such a young industry and so exciting.
And with each cycle, there seems to be sort of new challenges,
but new opportunities.
And, you know, as you all just mentioned, you know, the opportunity not only in Bitcoin mining,
but in just the entire energy grid and how Bitcoin mining can help with that, I think is just so
exciting, whether it be for hot water or heating or however you can use it. I think the opportunities
are really limitless. So love this space.
Glad to be here.
Thanks for the opportunity.
Absolutely, Gwen.
Thank you for joining us this evening.
And thanks to the whole panel.
Make sure you follow Gwen, of course, up here.
Make sure you check out Canaan.
It's ticker symbol C-A-N.
And make sure you follow these great panelists.
You see Tropic,
William, Matt, Lady Traders with us a little bit earlier. Some really great minds in the space. If
you are one of those people that are curious to learn more and continue to learn more, make sure
you follow them. It'll improve your timeline and check out some of the other spaces that are being
hosted on these topics. For sure, I've heard Matt, Tropic, William, Lady Trader, all of these people
in a lot of other spaces sharing some great wisdom and knowledge there. So big shout out to them and
big shout out to the audience hanging with us here on a Monday evening here on Wolf Financial.
We appreciate everyone. We had a great stock picking show on the first hour of this. And then
of course, a little bit over an hour talking about some Bitcoin mining here. And it is all recorded.
If you missed any of it, feel free to go back and listen to it.
As I close this out, that recording will become available here.
And you haven't missed much in the Monday night football game so far.
So that's going right now as well.
I'm going to close this up shop for this Monday.
We've been going since before the bell rang this morning on the New York Stock Exchange.
And here we are still getting some great conversations out there for everyone.
And we'll be live again.
First thing, bright and early, dark and early, as me and Jordan like to say.
At 8 a.m. Eastern tomorrow over on Wolf Trading, we'll have a futures conversation for just over an hour before the market gets going and get your day started that way.
And a whole list of other great spaces all throughout the week. You can check the pin post
right there on the Wolf Financial main page for all of our great spaces. And definitely check out
our Wolf Bitcoin account as well. Some really great conversations happening over there. If I
ever get a chance, a free moment, I always sneak in there and try to learn a little bit extra
around Bitcoin. Such a young industry, as Gwen was in there and try to learn a little bit extra around Bitcoin.
Such a young industry, as Gwen was just saying. So appreciate everyone. I'm going to close this
out now and we will see you guys on the next space. Take care, everyone. .
