4.8 • 764 Ratings
🗓️ 23 September 2025
⏱️ 86 minutes
🧾️ Download transcript
Sean Milmoe, co-founder and CFO of 360 Energy, discusses his transition from working at Blackstone financing conventional oil and gas businesses as well as wind and solar projects to building a bitcoin mining services company, why a combination of Fed money printing and the unsustainability of energy economics led him to bitcoin, what parallels exist between underwriting bitcoin mining sites and conventional natural gas well economics, and how he sees bitcoin mining upstream in oil & gas fields evolving from nascent to being a core part of drilling programs in the next several years.
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| 0:00.0 | Sean, welcome to the center of hash. |
| 0:06.4 | Thank you. It's good to be here. |
| 0:07.7 | Your former home, Bitcoin Park. |
| 0:09.2 | I was going to say, it's good to be back in the comment, or Bitcoin Park. |
| 0:11.9 | We miss you guys. |
| 0:13.2 | I've only been away for a few weeks, but there's a vacuum that we need to fill, a void. |
| 0:37.7 | Yep. How are things going at the new office? Oh, they're great. You know, it's, it's sad to leave this space, but it's good to have our own space. We've grown the team a lot, so it's nice to have conference rooms to take all, something like that. Signs of success. Yeah, yeah, we hope so. |
| 0:41.8 | You know, the team's grown a lot, putting deals out, so blown and going. |
| 0:57.8 | Well, Chris, your co-founder and partner at 360 Energy recorded in July, and he and I were catching up, and I suggested that we should get you on as well. You have a very different background from Chris and wanted to start out just talking about your, the history |
| 1:04.3 | in the oil and gas space on the finance side and how you came to be working on Bitcoin, specifically Bitcoin mining. |
| 1:14.4 | You were formerly at Blackstone. |
| 1:16.4 | So just talk a little bit about, and then investment banking at Credit Suisse before that, |
| 1:21.8 | both on the oil and gas side, energy side, I guess. |
| 1:25.8 | But yeah, talk a little bit about your history what you were doing and how |
| 1:31.4 | you ultimately decide to become interested in bitcoin and then and then work on bitcoin mining yeah |
| 1:38.1 | definitely so started at credit suisse in the oil and gas group in houston went to school in dallas |
| 1:43.1 | um and that was we talked about earlier pledged ship or finance you know in the oil and gas group in Houston, what is school in Dallas. |
| 1:47.8 | And that was, what we talked about earlier, pledged ship for finance, you know. |
| 1:51.4 | Being an analyst in investment bank is a lot of grunt work. |
| 1:54.5 | But you do learn a lot over your two-year period there. |
| 1:56.2 | What years was that? |
| 1:58.7 | That was 16 to 18 in Houston. I've done my pledship in investment banking as well, New York, 2006 to 2009, |
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