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CoinDesk Podcast Network

Blockspace: IREN’s $2.3B Note Offering, STRC Comes to DeFi, KEEL’s Q1 2026 Earnings

CoinDesk Podcast Network

CoinDesk

News, Business News, Tech News, Daily News

4.7698 Ratings

🗓️ 12 May 2026

⏱️ 65 minutes

🧾️ Download transcript

Summary

IREN is planning a $2.3B convertible note offering to scale its AI line and DeFi degens are starting to trade STRC. Welcome back to The Blockspace Podcast! Today, Jay Patel, CEO of Lygos Finance, joins us to talk about the emerging trend of Strategy’s STRC derivatives in DeFi. We also break down IREN’s new $2.3B convertible notes offering, BitGo CEO Mike Belshe’s take on quantum computing threats and Project 11’s new research paper on the topic, KEEL’s Q1 2026 results, and why Morgan Stanley’s Bitcoin ETF saw zero outflows in its first month. 👉CleanSpark (Nasdaq: CLSK), a market-leading data center developer with a proven track record of success. 👉Luxor, Blockspace's preferred mining pool. Start hashing today with Luxor! 👉Lygos Finance, Borrow against your Bitcoin, without compromising on custody.

Transcript

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0:00.0

What is going on, y'all? Welcome back to Blockspace Live. We're coming at y'all fresh as daisies on this beautiful Monday morning.

0:12.2

Hope everyone had a great Mother's Day, by the way. So we've got a few interesting items on the docket today. We will be opening up with iron issuing or planning to

0:21.1

issue a convertible note for total consideration of $2.3 billion. This is coming off of the heels

0:25.2

of iron announcing a partnership with the Vidiya to develop an AI site for the premier GPU

0:31.8

fabricator and also agreeing to use NVIDIA machines for their 5 gigawatt AI buildout.

0:39.1

After that, we have got Jay Patel, CEO of Lago's Finance on to talk about what else, but stretch.

0:46.8

But not stretch specifically, synthetic derivatives built on top of stretch in Defi.

0:52.1

And what that could actually mean for systemic risk to

0:55.1

the stretch and strategy ecosystem, if anything at all. After that, we will be diving into

1:00.7

also what else, but quantum computing, specifically Project 11's most recent paper on

1:07.1

quantum computing threat to Bitcoin and a reaction from BitGo CEO Mike Belch.

1:11.9

We will then move on to Keel's Q1 performance as the Bitcoin miners saw a fall off in revenue

1:19.2

as it wound down its Paso Pay Center last year in Paraguay selling it to hive.

1:25.3

And then we will close out on a little bit of opium with the Morgan

1:30.6

Stanley Bitcoin ETF launch, rather the last month of trading, the first full month for the

1:36.2

ETF in which it saw zero outflows. Now, the volume itself is not the story here, but the fact that

1:42.5

nobody actually sold the positions over the last

1:45.3

month.

1:46.3

Blockspace goes live Monday, Wednesday, Friday at noon Eastern featuring quick hits on the latest

1:51.7

in Bitcoin mining AI and emerging tech. Make sure to hit subscribe. Hit that little bell notification

1:58.2

on YouTube so you get the push notification on your phone.

2:05.8

And if you like the stream and you miss it, it turns into a podcast.

...

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