THE MINING POD: Leadership Change, 50 EH/s, and HPC W/ CleanSpark's Harry Sudock
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 19 August 2025
⏱️ 30 minutes
🧾️ Download transcript
Summary
What does CleanSpark’s leadership transition mean for the bitcoin miner?
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Welcome back to The Mining Pod! Today, Harry Sudock from CleanSpark joins us to talk about the company's major leadership transition with CEO Zach Bradford's departure and Matt Schultz taking the helm. We dive into CleanSpark's impressive growth to 50 EH/s, their pure play mining strategy versus the industry's pivot to HPC/AI, and how they're managing a $680M convertible bond. Harry shares insights on fleet efficiency, power portfolio optimization, and the strategic optionality their strong cash flow provides.
**Notes:**
- CleanSpark hits 50 EH/s installed capacity
- $680M convertible bond raised in December
- Over 1 gigawatt power under contract
- CEO transition after 6 years leadership
- Strong cash flow drives optionality
- Coinbase credit line for tactical moves
Timestamps:
00:00 Start
02:04 CEO stepping down
03:29 Mining only, no HPC
05:36 More management changes?
08:26 Operations & cashflow
12:36 Colorado Air Filter
16:21 ASIC purchases
19:06 Status of 10 exahash
22:08 Cleanspark
22:38 Debt & growth
27:31 Treasury strategy
👉CleanSpark, America's Bitcoin Miner!
CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner!®, is a market-leading, pure play 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 to monetize low-cost, high reliability energy while securing the most important finite, global asset – Bitcoin.
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Transcript
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| 0:00.0 | Okay, welcome back to the mining pod. |
| 0:05.4 | On the heels of a big week for Clean Spark, we're at Harry on the hot seat. |
| 0:09.5 | Harry, how you doing? |
| 0:10.5 | Good, Will. Good to see you. |
| 0:11.5 | Good to see you, too. |
| 0:12.5 | We are here in the beautiful hills of Georgia. |
| 0:14.8 | I'm a civil war buff, so I've had a lot of fun. |
| 0:17.0 | This week just driving around. |
| 0:18.0 | I rented a car, and I've been listening to James McPherson's Battle Cry just driving around. I rented a car and I've been listening to James McPherson's |
| 0:22.6 | battle cry freedom driving around. Been really great. Meanwhile, on Twitter, we've had just chaos this |
| 0:29.0 | week. So you guys have some big news. We'll get to a little bit. Terrell have had a big deal that |
| 0:33.2 | they signed and announced this morning with Google. I think the first Bitcoin miner to do a direct deal with a hyperscaler or basically around that. |
| 0:41.2 | That's a good question. |
| 0:43.5 | I think that's correct. |
| 0:47.1 | I think so. |
| 0:48.0 | I think so. |
| 0:48.8 | There's probably some that maybe we don't know about or weren't disclosed, but I think from a modern AIPC era for our mining |
| 0:58.1 | compadres, I think this is the first one. |
| 1:01.2 | I think it is. |
| 1:02.2 | And then the Proto announcement, which we're all here for, great jobs. |
| 1:06.0 | The Proto team for rolling that out. |
| 1:08.0 | We'll be doing a show with them in about an hour. |
... |
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