Hut 8 CEO on Anthropic, Fluidstack AI data center deal backed by Google
December 17, 2025 • 3m 25s
Brian Sullivan (Anchor)
00:00.150
joining
us
now
in
an
exclusive
interview
asher
gnute
he
is
the
CEO
of
hut
eight
asher
good
to
chat
with
you
again
obviously
you
just
heard
the
oracle
story
it
doesn't
appear
that
you
and
your
team
are
having
similar
concerns
or
issues
how
did
this
deal
yours
come
about
Asher Genoot (CEO)
00:17.870
good
to
see
you
again
brian
nice
to
meet
you
kelly
and
excited
this
time
not
just
talking
about
the
power
markets
like
we
did
when
we
were
at
EEI
we're
talking
about
this
really
important
news
to
hot
aids
for
us
when
we
were
looking
at
customers
to
work
with
the
scale
with
Asher Genoot (CEO)
00:32.030
credit
counterparty
was
extremely
important
and
we
believe
that
google
is
one
of
the
most
credible
counterparties
from
investment
grade
credit
in
the
world
they
have
an
operating
business
that
spits
out
cash
flow
that
can
fund
their
investments
into
the
AI
they
have
a
hardware
Asher Genoot (CEO)
00:46.670
business
tpus
they
have
a
car
business
in
waymos
they
own
youtube
so
as
a
large
consortium
as
a
player
we
believe
that
having
google
as
the
end
financial
backs
up
of
the
fifteen
year
commitment
gives
us
confidence
in
this
data
center
build
and
deploying
this
capital
and
building
Asher Genoot (CEO)
01:05.470
for
the
suite
of
customers
which
include
fluid
sex
as
the
tenant
and
tropic
as
an
end
user
in
google
as
a
financial
backstop
Kelly Evans (Anchor)
01:13.310
sure
do
i
read
here
correctly
that
you
were
were
or
are
crypto
miners
Asher Genoot (CEO)
01:17.670
so
we
build
an
energy
infrastructure
platform
so
today
we
build
infrastructure
that
supports
various
compute
that
includes
bitcoin
compute
and
that
also
includes
AI
computing
so
instead
of
converting
we
actually
spun
out
another
public
company
called
american
bitcoin
and
we
Asher Genoot (CEO)
01:33.350
continue
to
run
data
centers
for
both
types
of
compute
Kelly Evans (Anchor)
01:35.630
because
i'm
i'm
just
curious
at
the
same
time
we're
talking
about
the
incredible
demand
for
AI
compute
is
the
demand
for
crypto
compute
slowing
it
or
becoming
less
interesting
at
all
Asher Genoot (CEO)
01:46.880
no
we
think
it's
a
different
type
of
demand
the
sites
that
bitcoin
data
centers
are
willing
to
go
to
are
sites
that
you
can
curtail
more
often
sites
and
more
bespoke
areas
and
so
we
continue
to
see
demand
that
captive
for
us
from
american
bitcoin
and
that
allows
us
to
underwrite
Asher Genoot (CEO)
02:02.760
new
megawatts
that
otherwise
we
may
not
be
able
to
underwrite
an
example
of
that
is
we
have
a
one
gigawatt
project
in
corpus
christi
called
lawn
hill
that
site
if
we
had
just
invested
into
it
for
AI
data
centers
we
might
say
you
know
what
maybe
a
customer
doesn't
want
to
come
Asher Genoot (CEO)
02:17.470
here
but
we
invested
into
it
because
we
knew
that
our
bitcoin
compute
was
willing
to
go
there
and
today
we're
starting
to
have
customer
conversation
on
that
side
as
well
Brian Sullivan (Anchor)
02:24.950
yeah
and
you're
making
this
deal
a
fluid
stack
which
is
backed
by
google
how
important
right
now
asher
you
just
heard
the
oracle
story
how
important
is
choosing
the
right
partner
these
are
multi
billion
dollar
multi
year
deals
you
have
to
make
sure
you
have
the
right
partner
Asher Genoot (CEO)
02:43.590
it's
critical
when
we
underwrite
the
development
of
these
infrastructure
assets
we
think
about
who
are
the
ones
that
were
embedding
on
that
will
be
able
to
continue
to
pay
those
financial
obligations
during
the
term
of
that
contract
and
bringing
on
JP
morgan
and
goldman
sachs
as
Asher Genoot (CEO)
03:00.150
partners
and
being
able
to
finance
up
to
eighty
five
percent
of
the
data
center
at
sofr
plus
two
twenty
five
that's
extremely
accretive
and
extremely
competitive
financing
on
project
global
financing
at
a
really
high
LTC
percentage
and
so
JP
morgan
and
goldman
have
shown
that
Asher Genoot (CEO)
03:18.590
this
credit
the
counterparty
is
really
competitive
and
they're
willing
to
use
their
balance
sheets
to
back
us
as
well
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