THE MINING POD: Bitcoin’s 4 Year Cycles Are Over w/ Rory Murray

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4.7 • 698 Ratings

🗓️ 14 October 2025

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

CleanSpark VP Rory Murray joins us to discuss bitcoin mining stocks, the macro economic environment, and bitcoin’s 4 year cycle theory. Click Here To Join the BitAxe Giveaway! Welcome back to The Mining Pod! Today, Rory Murray, VP of digital asset management at CleanSpark, joins us to talk about the explosive markets we're seeing in late 2024, why he believes Bitcoin's four-year cycle is dead, and the secular trends that will define the next chapter of crypto. We dive deep into the debasement trade, record bitcoin ETF inflows, the intersection of macro and Bitcoin mining stocks, and what keeps a veteran trader up at night. Also, Rory shares his framework for navigating animal spirits and how they relate to Bitcoin's long-term trajectory. **Notes:** - SPX up 30 basis points daily since April - Largest ever crypto ETF inflow week - Q3 earnings 3x higher than analyst forecasts - Four-year Bitcoin cycle thesis challenged - Record institutional Bitcoin adoption - CleanSpark operates across 4+ US states Timestamps: 00:00 Start 02:24 Rory title upgrade 04:48 Traders 06:02 Good trading desks? 08:00 Where's the alpha? 13:01 Mining stock data sources 14:00 Stock & BTC ripping higher? 24:53 Debasement trade 28:09 Gold is back baby! 28:48 Monetary flows 31:55 Worries 👉CleanSpark, America's Bitcoin Miner! CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading Bitcoin miner with a proven track record of success. They own a fully self-operated portfolio of mining facilities across the U.S. powered by globally competitive energy prices. CleanSpark sits at the intersection of Bitcoin, energy, operational excellence and capital stewardship. Optimally monetizing low-cost, high reliability electricity positions them to prosper in an ever-changing world. 👉 FBOX, Cooling for Bitcoin Mining and the AI Data Center Transformation FBOX is the global leader in cooling system manufacturing, with the #1 shipment volume of bitcoin mining containers worldwide. Not only powering for the strongest hashrate, their technology also helps mining infrastructure transform into AI data centers. Backed by the largest production scale on earth, global deployment capability, and a full range of cooling solutions, they are shaping the future of compute. 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

Transcript

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0:00.0	I think macro. It's kind of like been a mega trend where like every year it seems to get more
0:04.9	into the general zeit guys. Or like where are we at in the Fed cycle? Where are we at in the capital
0:10.8	cycle? How does that feed through to Bitcoin volatility, adoption? I don't think it's any secret
0:18.0	that animal spirits are very high right now. I go to the chart every single day.
0:22.3	Bitcoin chart or SBX.
0:23.9	I'm talking to just equities, kind of top level equities.
0:26.4	And it really is breathtaking that we just go up 30 basis points every single day since April.
0:32.6	We work in a sector that has long been misunderstood and has had a ton of opportunity and people
0:38.7	have written off. But I think that what we're seeing is the development of a true asset
0:43.1	class outside of the development of a purely cyclical commodity cycle as it becomes more
0:49.0	of a financial asset. Hey, welcome back to the mining pod presented by CleanSpark. Today,
0:53.3	we're joined by Rory Murray of CleanSpark to talk about, well, the Bitcoin market, where he sees Bitcoin
0:58.1	going through the end of year, Bitcoin mining stocks, secular trends in Bitcoin and the greater
1:03.4	macro space. Before we get into it, I want to shout out to Pub Key, best place in Manhattan
1:08.2	to buy a beer with Bitcoin or a burger like Donald Trump.
1:12.5	Be sure to join us in West Village and get a beer over here.
1:16.4	Okay, a few words from our sponsors and then on to the conversation.
1:19.3	Guys, there is a serious problem right now in Bitcoin mining and we need to talk about it.
1:23.6	You need to pay attention to this.
1:25.4	Bitcoin miners are identifying as AI companies,
1:28.7	and people keep mis-sectoring them because they say, well, look, your infrastructure is clearly
1:33.7	for Bitcoin mining. What do you want me to do about it? I'm going to tell you what you need to do.
	...

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