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Constitutional scholar Adam White joins us to talk about the surprisingly complex Supreme Court edit on the plane deportations to El Salvador and what it portends for the fights on legal matters to come. Give a listen.
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Hut 8 is splitting its mining business into a new subsidiary, American Bitcoin, with backing from Eric Trump and Donald Trump Jr. Here’s why.
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Welcome back to The Mining Pod! Today, Matt Prusak, CEO of American Bitcoin, joins us to discuss the strategic partnership between HUT 8 and the Trump family for its latest subsidiary, American Bitcoin. Hut 8 is reallocating nearly all of its self-mining assets (10 EH/s) to American Bitcoin and taking an 80% stake in the company. Prusak explains why Hut 8 has taken this approach to focus self-mining efforts with American Bitcoin while the parent company focuses on energy, infrastructure, and AI. Plus, he touches on American Bitcoin’s ambitious plans to reach 50 EH/s and the company’s plans to go public.
# Notes:
- HUT 8 allocated mining assets for 80% stake
- Starting with 10 EH/s, targeting 50 EH/s
- American Bitcoin will build own Bitcoin treasury
- Emphasizes "America First" Bitcoin ethos
- Plans to go public in the future
- Targeting sub-15 joules per terahash efficiency
Timestamps:
00:00 Start
01:45 Starting American Bitcoin
02:49 Business structure
03:43 What does Hut 8 gain?
04:52 AI & HPC pivot
06:19 New pools of capital?
07:32 New facilities?
08:21 Hut 8 & Bitmain deal
09:27 Roadmap
10:19 Power generation
12:00 Favoring domestic hardware?
13:28 Dividing responsibilities
14:41 Separate treasuries?
14:52 Financials & IPO
16:29 Two public companies
18:58 Fundraising
21:41 Balancesheets
22:58 Hut 8 expenses
26:36 Vibe shift
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President Trump is optimistic he can work out tariff deals with trading partners. Supreme Court rules on controversial deportations. Florida takes the NCAA title. CBS News Correspondent Steve Kathan has today's World News Roundup.
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Los Angeles gets a new deputy mayor for public safety as former FBI agent Robert Clark. The Supreme Court pauses a controversial deportation case that could reshape immigration power. Apple and other tech giants brace for Trump’s sweeping tariffs, with iPhone prices projected to soar. And a new California bill could require landlords to provide kitchen appliances—finally catching up with the rest of the country.
More than 36,000 migrants crossed the English Channel in small boats last year. Our correspondent investigates the increasingly sophisticated business strategies of the criminals who smuggle them. As the planet heats, wildfires in East Asia are becoming fiercer and more frequent (10:36). And why ordinary Americans are falling out of love with their former international allies (18:31).
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Depending on who you talk to, Jim VandeHei and Mike Allen are either the swampiest of swamp creatures—the epitome of all that is wrong with political journalism—or, alternatively, two of the most interesting, successful entrepreneurs in the new media landscape.
In 2006, VandeHei left The Washington Post to co-found Politico, where he was executive editor. His first hire was Mike Allen, then of Time magazine.
Politico turned into a massive hit, with Allen as its star writer. During the Obama years, Allen was so well-sourced that he became, in the words of Mark Leibovich at The New York Times, “the man the White House wakes up to.”
But then, in 2017, Mike and Jim decided to start something new—a website called Axios, which, in the beginning, was really a newsletter Mike wrote every day. They delivered news straight to your inbox and kept it short, snappy, and heavy on emojis. They called it “smart brevity.”
Their emails are filled with invocations to “go deeper” and “be smarter.” And at the end of the day, they send you an email called “Finish Line” that’s essentially life advice for young professionals on the make. A recent one advised millennials nearing middle age to begin something new, like ice skating, while another advised readers to ditch Google Maps to keep their brains sharp. It’s like MAHA for D.C.’s professional-managerial class.
They were, in a sense, pioneers of a new kind of online journalism. Long before seemingly everyone had a Substack, they were using one of the oldest internet applications—email—to get news to subscribers.
So Mike and Jim are big deals in journalism and have been for a long time.
But in case you haven’t noticed, and we don't know how you would have missed this if you listen to this show, journalism is in deep trouble. This is in large part because Americans have lost faith in journalists. According to Gallup, roughly two-thirds of Americans had a great deal of faith in the news media in 1970. Today, only 31 percent of Americans say the same—while 36 percent say they have no faith in the news media at all.
How can that trust be rebuilt? Are we destined to live in a world of different realities and alternative facts? Should the mainstream media apologize for all they have ignored or covered up or gotten wrong over the past few years?
To boil it all down: Does real, honest journalism have a future in America?
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