WEBVTT 00:00:00.000 --> 00:00:02.120 All right. So welcome, everybody. We're at Mining 00:00:02.120 --> 00:00:06.019 Disrupt and I'm with Revolve Labs. I'm with you 00:00:06.019 --> 00:00:07.660 guys like to introduce yourselves. Cody Nelson. 00:00:08.439 --> 00:00:11.019 I'm Felipe Pinto. And today we're going to talk 00:00:11.019 --> 00:00:13.439 about Revolve Labs and everything they have to 00:00:13.439 --> 00:00:16.120 offer. And first, I want to start off with just 00:00:16.120 --> 00:00:19.000 a brief history about the company and what you 00:00:19.000 --> 00:00:25.039 guys do. Sure. So we are a sort of all in one 00:00:25.039 --> 00:00:29.600 service provider in the mining space. We also, 00:00:29.660 --> 00:00:32.259 you might not get into this very much, but we're 00:00:32.259 --> 00:00:35.659 parlaying our competence here into the AI and 00:00:35.659 --> 00:00:40.719 sort of broader HPC world. But when you zoom 00:00:40.719 --> 00:00:44.759 into mining, we offer hosting, co -location, 00:00:44.780 --> 00:00:46.200 right? Where we take other people's machines, 00:00:46.560 --> 00:00:50.060 plug them into our facilities and run them. And 00:00:50.060 --> 00:00:53.060 then we also offer repairs. So that's kind of 00:00:53.060 --> 00:00:54.479 our bread and butter. As an offshoot to that, 00:00:54.600 --> 00:00:59.090 we've recently launched warranty products. which 00:00:59.090 --> 00:01:01.509 is the first of its kind. So it's underwritten 00:01:01.509 --> 00:01:04.349 by, you know, credible third parties. And then 00:01:04.349 --> 00:01:06.409 we also have started to monetize some of the 00:01:06.409 --> 00:01:09.090 internal tools that we built around energy optimization, 00:01:09.390 --> 00:01:13.609 around repair management, fleet management, and 00:01:13.609 --> 00:01:15.950 we'll continue to build out on that front. So 00:01:15.950 --> 00:01:18.090 you guys have your own dashboard here on the 00:01:18.090 --> 00:01:20.290 bottom, right? Yeah, it's not the best picture. 00:01:20.329 --> 00:01:23.430 This is sort of one of the applications. This 00:01:23.430 --> 00:01:28.629 is the sort of repair center. you know, workflow 00:01:28.629 --> 00:01:33.269 manager, sort of fleet management for machines 00:01:33.269 --> 00:01:36.310 that need repairs, right? One of the pain points 00:01:36.310 --> 00:01:40.150 in this space that people talk about is they 00:01:40.150 --> 00:01:41.769 send a machine somewhere and they don't know 00:01:41.769 --> 00:01:43.269 what happens to it. They don't know when it's 00:01:43.269 --> 00:01:44.790 going to get fixed. It's hard to communicate. 00:01:45.129 --> 00:01:48.430 It sort of solves for that by having, you know, 00:01:48.450 --> 00:01:50.989 productized, right? Where you can go in at any 00:01:50.989 --> 00:01:53.790 touch point that occurs, the diagnostics, you 00:01:53.790 --> 00:01:56.620 know, reception, diagnostics. repair attempts 00:01:56.620 --> 00:01:58.640 etc you know what's happening to each one of 00:01:58.640 --> 00:01:59.900 your machines all the way down to the component 00:01:59.900 --> 00:02:02.920 level and so um this is a something that doesn't 00:02:02.920 --> 00:02:05.500 exist at all in this space yeah next i want to 00:02:05.500 --> 00:02:07.200 talk about like your backgrounds not only in 00:02:07.200 --> 00:02:09.259 this space and what you're doing with this company 00:02:09.259 --> 00:02:12.280 but traditionally like what you did before crypto 00:02:12.280 --> 00:02:15.900 and how you found crypto so so i guess i'll start 00:02:15.900 --> 00:02:19.039 um i i have my hands on a lot of things as a 00:02:19.039 --> 00:02:21.819 coo um and we have a lot of services and products 00:02:21.819 --> 00:02:25.560 so i i have a very busy job keeping everything 00:02:25.560 --> 00:02:29.180 going and developing everything. So I actually 00:02:29.180 --> 00:02:32.979 was the primary person involved in designing 00:02:32.979 --> 00:02:35.840 and building out our first 20 megawatt data center 00:02:35.840 --> 00:02:39.300 in Minnesota. Also, I was the one that started 00:02:39.300 --> 00:02:42.139 the repairs side of our business. I actually 00:02:42.139 --> 00:02:46.400 traveled to Bitmain and was trained as a ASIC 00:02:46.400 --> 00:02:51.319 repair certified repair technician. And then 00:02:51.319 --> 00:02:55.009 after that, I actually was a Bitmain certified 00:02:55.009 --> 00:02:58.090 trainer. So where we would actually train other 00:02:58.090 --> 00:02:59.949 people that were interested in doing ASIC repairs. 00:03:01.030 --> 00:03:03.289 Bitmain has since shut that down and we actually 00:03:03.289 --> 00:03:06.189 set up our own in -house certification for that, 00:03:06.229 --> 00:03:09.069 for ASIC repairs. And I was the one that built 00:03:09.069 --> 00:03:11.210 out that system or that certification course. 00:03:13.590 --> 00:03:16.889 I don't run the repair center anymore. Josh Wallace, 00:03:16.930 --> 00:03:19.409 our director of repair services, runs that. So 00:03:19.409 --> 00:03:22.960 it's been nice to hand that off to him. but also 00:03:22.960 --> 00:03:25.740 primarily involved in a lot of our software products 00:03:25.740 --> 00:03:30.259 with energy operations and the repair center, 00:03:30.319 --> 00:03:34.419 repair work order app that we have, as well as 00:03:34.419 --> 00:03:36.319 some of the other things with Coincident Peak. 00:03:37.180 --> 00:03:41.520 Okay. So, yeah, it's been a wild ride to be part 00:03:41.520 --> 00:03:43.599 of all of the different products and services, 00:03:43.699 --> 00:03:45.919 but it's been really cool to see from inception 00:03:45.919 --> 00:03:49.139 where they have come to now. Yeah, definitely. 00:03:49.719 --> 00:03:54.840 So you asked before starting this. So the seed 00:03:54.840 --> 00:03:57.500 bed of this idea, I was an MBA student at Stanford 00:03:57.500 --> 00:04:01.020 and working with another guy getting his PhD 00:04:01.020 --> 00:04:02.620 in computer science, their co -founding CTO, 00:04:02.879 --> 00:04:07.099 who unfortunately isn't here today. But we really 00:04:07.099 --> 00:04:09.979 wanted to put mining in the hands of retail folks. 00:04:10.659 --> 00:04:13.479 It seemed like a really good asset class on the 00:04:13.479 --> 00:04:15.159 one hand. On the other hand, we wanted to be 00:04:15.159 --> 00:04:18.170 able to expose people to it. And being able to 00:04:18.170 --> 00:04:20.449 help people actually get ROI out of mining, I 00:04:20.449 --> 00:04:22.550 think, is kind of one of the big things we're 00:04:22.550 --> 00:04:25.089 solving for. Along the way, and even since inception, 00:04:25.250 --> 00:04:26.589 when we first started, we were at a completely 00:04:26.589 --> 00:04:30.569 hydro sort of facility. And so being able to 00:04:30.569 --> 00:04:34.050 think creatively on how to find low cost energy 00:04:34.050 --> 00:04:38.250 that also, you know, helps the grid be more resilient 00:04:38.250 --> 00:04:42.329 or draws from, you know, renewable or environmentally 00:04:42.329 --> 00:04:44.990 friendly sources as much as possible. It's something 00:04:44.990 --> 00:04:47.399 in the back of our minds, too. And as it turns 00:04:47.399 --> 00:04:49.399 out, I think there's a win -win that way. And 00:04:49.399 --> 00:04:54.660 so we care a lot about sort of end -to -end, 00:04:54.759 --> 00:04:58.660 the end -to -end customer problem journey map 00:04:58.660 --> 00:05:01.319 here where they start wanting to buy a miner, 00:05:01.519 --> 00:05:03.860 needing to find a quality facility, running into 00:05:03.860 --> 00:05:07.019 repair problems. And we want to solve as much 00:05:07.019 --> 00:05:10.000 as we can along that journey. And optimizing 00:05:10.000 --> 00:05:12.779 energy is a way in which we can hopefully help 00:05:12.779 --> 00:05:15.600 pass along some of the savings that... That we 00:05:15.600 --> 00:05:20.360 are hopefully able to get to customers and also 00:05:20.360 --> 00:05:23.879 help them. It also helps them get ROI. And so 00:05:23.879 --> 00:05:27.360 that's a little bit of a few threads around what 00:05:27.360 --> 00:05:29.660 we do and why we do it, where we came from. Yeah, 00:05:29.779 --> 00:05:32.199 the repair work order dashboard, I was just thinking 00:05:32.199 --> 00:05:34.360 about it. I know a lot of people that have sent 00:05:34.360 --> 00:05:38.180 stuff out and it's been lost and takes a couple 00:05:38.180 --> 00:05:39.779 of months before they get it back. So it's really 00:05:39.779 --> 00:05:43.990 a good idea to be able to track your. and make 00:05:43.990 --> 00:05:46.410 sure that it gets repaired on time and right. 00:05:46.550 --> 00:05:49.689 Some of these manufacturers have gotten to the 00:05:49.689 --> 00:05:51.310 point where they've just like gone under because 00:05:51.310 --> 00:05:54.370 they haven't been able to repair stuff. And their 00:05:54.370 --> 00:05:58.370 customer support after the miner is delivered 00:05:58.370 --> 00:06:02.769 is so subpar. It's nice to see that you guys 00:06:02.769 --> 00:06:04.689 are coming up with solutions for that. So it's 00:06:04.689 --> 00:06:07.370 great. Yeah, we heard the same thing and the 00:06:07.370 --> 00:06:09.529 same feedback. And that's why we created it because 00:06:09.529 --> 00:06:11.689 our customers were like, well, yeah, we sent 00:06:11.689 --> 00:06:14.649 something into Bitmain. And then they lost it. 00:06:15.009 --> 00:06:16.930 And we were like, okay, well, what now? And they 00:06:16.930 --> 00:06:19.709 said, sorry. And we're like, that should never 00:06:19.709 --> 00:06:22.730 happen, right? So creating something where there's 00:06:22.730 --> 00:06:25.290 transparency. They know the tracking number coming 00:06:25.290 --> 00:06:27.610 in. They know when we received it. They know 00:06:27.610 --> 00:06:29.470 what we have. They know what is shipped back 00:06:29.470 --> 00:06:31.949 out and what tracking numbers they are. And if 00:06:31.949 --> 00:06:33.689 there's anything that happens in between that, 00:06:33.750 --> 00:06:36.009 they know what's going on. I wanted to know next, 00:06:36.069 --> 00:06:38.009 what are you guys doing at Money Disrupts? Yeah, 00:06:38.029 --> 00:06:41.350 so I think, again, we... We're at a unique place 00:06:41.350 --> 00:06:43.629 where we have enough products and services that 00:06:43.629 --> 00:06:46.350 we appeal to all sorts of different people, not 00:06:46.350 --> 00:06:48.990 just retail customers, but also other businesses. 00:06:49.329 --> 00:06:54.550 So B2B and B2C, we can offer them software solutions. 00:06:54.610 --> 00:06:56.569 We can offer them hosting. We can offer them 00:06:56.569 --> 00:07:00.709 repairs. So really, like anyone that comes here, 00:07:00.949 --> 00:07:04.129 they could benefit from either one or multiple 00:07:04.129 --> 00:07:06.639 of our products, for sure. Yeah. That's great. 00:07:06.740 --> 00:07:08.839 Yeah. I think that's obviously this is the place 00:07:08.839 --> 00:07:11.839 to do it at Mining Disrupt. And you guys have 00:07:11.839 --> 00:07:17.480 been around since 2019. Is that 2017? Yeah. Yeah. 00:07:17.600 --> 00:07:18.879 I think it's our third or fourth year at Mining 00:07:18.879 --> 00:07:20.920 Disrupt. All right. Interesting. Are you guys 00:07:20.920 --> 00:07:22.879 planning on doing any other conferences throughout 00:07:22.879 --> 00:07:25.500 the year? Yeah, probably. We'll probably be at 00:07:25.500 --> 00:07:29.480 BTC in Las Vegas. There are several others. We 00:07:29.480 --> 00:07:31.459 have, as it turns out, we have customers in Europe 00:07:31.459 --> 00:07:35.230 too. So we might do one there. These conferences 00:07:35.230 --> 00:07:37.129 seem to be more and more every year, so it's 00:07:37.129 --> 00:07:39.089 hard to keep track of them all. Lastly, I just 00:07:39.089 --> 00:07:41.610 want to touch base on your vision, your future 00:07:41.610 --> 00:07:43.069 vision moving forward. Do you guys have anything 00:07:43.069 --> 00:07:45.829 new you're planning to bring to the table? Or 00:07:45.829 --> 00:07:48.029 just where do you see this space going? Kind 00:07:48.029 --> 00:07:50.230 of take this any direction you really want to 00:07:50.230 --> 00:07:54.149 go with it. Yeah. So as it pertains to this space, 00:07:54.269 --> 00:07:57.750 I think the vision is, you know. To try and come 00:07:57.750 --> 00:07:59.430 up with all -in -one solutions that are very 00:07:59.430 --> 00:08:01.930 seamless for the client and de -risk as much 00:08:01.930 --> 00:08:04.610 as possible, right? We want clients to realize 00:08:04.610 --> 00:08:08.949 as much profitability as they can while also 00:08:08.949 --> 00:08:10.930 taking away as many of the risks and pain points 00:08:10.930 --> 00:08:14.189 that have traditionally come in this space. So 00:08:14.189 --> 00:08:17.050 that's big for us. Along the way, I think being 00:08:17.050 --> 00:08:19.930 able to sort of provide analytics, right? Which 00:08:19.930 --> 00:08:25.189 devices are more profitable than others? How 00:08:25.189 --> 00:08:28.100 do I think about that? Being able to provide 00:08:28.100 --> 00:08:32.179 sort of services around looking for alternative 00:08:32.179 --> 00:08:34.840 solutions for different products and services. 00:08:36.679 --> 00:08:38.639 Being able to provide a digital platform for 00:08:38.639 --> 00:08:40.419 that, I think, is also important to us. People 00:08:40.419 --> 00:08:43.080 with bits and pieces, some of them are our partners, 00:08:43.139 --> 00:08:46.340 and we want to put together sort of inspiring 00:08:46.340 --> 00:08:48.740 solutions that help people just sort of come 00:08:48.740 --> 00:08:51.659 to one place and they can get what they need 00:08:51.659 --> 00:08:55.500 to. I'm talking a little bit in generalities 00:08:55.500 --> 00:08:58.340 here, but... There's more to come later this 00:08:58.340 --> 00:09:01.679 year. There's a lot of stuff on the roadmap there. 00:09:01.840 --> 00:09:03.659 And that's for the retail client. For people 00:09:03.659 --> 00:09:05.960 within the space that might have a larger footprint 00:09:05.960 --> 00:09:09.200 or even for our competitors, we have these sorts 00:09:09.200 --> 00:09:11.679 of solutions around repairs, around energy optimization. 00:09:12.039 --> 00:09:15.440 It can really help them save quite a bit of money. 00:09:15.559 --> 00:09:17.379 And we've started getting some traction there 00:09:17.379 --> 00:09:22.179 too. So that's something that is part of our 00:09:22.179 --> 00:09:25.460 vision. So, yeah, that's what I'd say in the 00:09:25.460 --> 00:09:27.960 mining space. I think more broadly in the HPC 00:09:27.960 --> 00:09:31.460 world, we are also sort of starting to build 00:09:31.460 --> 00:09:34.299 larger data centers that cater to artificial 00:09:34.299 --> 00:09:37.620 intelligence workloads. So that's also part of 00:09:37.620 --> 00:09:41.460 it. I think as we're going forward, like gone 00:09:41.460 --> 00:09:44.179 are the days of mining with like an S9 and it 00:09:44.179 --> 00:09:46.919 failing and you being completely clueless on 00:09:46.919 --> 00:09:48.720 what to do because there's no information on 00:09:48.720 --> 00:09:50.960 these things. Like companies such as yourselves 00:09:50.960 --> 00:09:54.059 are definitely providing. useful information 00:09:54.059 --> 00:09:56.639 to the whole industry itself. So it's nice to 00:09:56.639 --> 00:10:00.139 see that progression as we get more involved 00:10:00.139 --> 00:10:02.899 in Bitcoin mining and just mining in general. 00:10:03.360 --> 00:10:05.720 Yeah, I think one of the big benefits that we 00:10:05.720 --> 00:10:10.820 offer as B2B customers is a situation where we're 00:10:10.820 --> 00:10:14.200 problem solvers. So a lot of large customers 00:10:14.200 --> 00:10:16.840 like Marathon, for example, came to us when they 00:10:16.840 --> 00:10:19.000 were vertically integrating because they realized 00:10:19.000 --> 00:10:21.899 they didn't have expertise in how to run a site. 00:10:22.330 --> 00:10:24.250 And so one of the things that we did for them 00:10:24.250 --> 00:10:27.289 was help them manage that site, set up SOPs and 00:10:27.289 --> 00:10:29.750 help them become independent in running that 00:10:29.750 --> 00:10:33.850 site. That's just one example of where we think 00:10:33.850 --> 00:10:35.690 outside the box and we help come up with creative 00:10:35.690 --> 00:10:38.690 solutions to make sure that customers are happy 00:10:38.690 --> 00:10:40.230 and they can actually do things that they want 00:10:40.230 --> 00:10:43.250 to do. And I think that's where we tend to shine 00:10:43.250 --> 00:10:45.929 is, you know, bring us your problems and then 00:10:45.929 --> 00:10:47.809 we'll help you solve them. Absolutely. That's 00:10:47.809 --> 00:10:51.500 great. Yeah. And I'll add that I think. We have 00:10:51.500 --> 00:10:56.279 this repair center training course that, I don't 00:10:56.279 --> 00:10:59.059 know, the majority of the big public companies, 00:10:59.220 --> 00:11:02.059 large private ones as well, have sent their folks 00:11:02.059 --> 00:11:06.539 through. And on top of things like these vertical 00:11:06.539 --> 00:11:09.120 integration efforts, we've had multiple clients 00:11:09.120 --> 00:11:12.980 asking, and we've been able to assist with that, 00:11:13.059 --> 00:11:17.539 hundreds of megawatts. And so our team is pretty 00:11:17.539 --> 00:11:22.639 well -versed. I think we also have 35 to 40 people 00:11:22.639 --> 00:11:25.320 now, I think, sort of in various different departments 00:11:25.320 --> 00:11:29.240 doing different things. And so there's a wide 00:11:29.240 --> 00:11:33.120 range of, I think, we have a wide range of capabilities 00:11:33.120 --> 00:11:36.019 and ways to add value to other operations outside 00:11:36.019 --> 00:11:40.120 of retail. And I'd say in addition to primarily 00:11:40.120 --> 00:11:42.220 being based in the United States, we've actually 00:11:42.220 --> 00:11:45.399 started doing a lot more work globally. Australia, 00:11:45.700 --> 00:11:50.320 for example. not only just providing them with 00:11:50.320 --> 00:11:52.840 solutions, but also our repair training course. 00:11:53.000 --> 00:11:55.460 So we had people in our last repair training 00:11:55.460 --> 00:11:58.399 course from Australia. We've gone to the Middle 00:11:58.399 --> 00:12:00.940 East. From Canada. We just recently finished 00:12:00.940 --> 00:12:04.019 a training in UAE. So yeah, we're starting to 00:12:04.019 --> 00:12:06.019 do a lot more things globally, not just domestic. 00:12:07.340 --> 00:12:11.779 Is your ASIC repair school, I guess I could call 00:12:11.779 --> 00:12:13.440 it that, is that open to anybody? Anybody can 00:12:13.440 --> 00:12:16.649 sign up for that? Yeah, our ASIC repair... Our 00:12:16.649 --> 00:12:19.169 X -Secret Fair certification course is geared 00:12:19.169 --> 00:12:22.049 towards teaching someone that has really no experience 00:12:22.049 --> 00:12:25.990 soldering or any electrical knowledge background. 00:12:26.370 --> 00:12:29.169 So it's really just from the ground up. Exactly. 00:12:29.169 --> 00:12:32.730 So anyone can do it and we can help them become 00:12:32.730 --> 00:12:35.470 independent in doing repairs. It helps if you 00:12:35.470 --> 00:12:38.289 have a background knowledge in electronics and 00:12:38.289 --> 00:12:41.070 soldering, but that just means you'll just catch 00:12:41.070 --> 00:12:44.090 on that much faster. Is it in person or online? 00:12:44.610 --> 00:12:47.029 It is in person, yeah. And the reason for that 00:12:47.029 --> 00:12:50.110 is there's some things we just can't teach through 00:12:50.110 --> 00:12:53.090 a remote course. And so having them present where 00:12:53.090 --> 00:12:55.450 we can actually coach them through, this is how 00:12:55.450 --> 00:12:59.850 you solder, this is how you troubleshoot, makes 00:12:59.850 --> 00:13:03.049 it actually a good product, right? Because it 00:13:03.049 --> 00:13:04.830 would not be sufficient if it was... And it's 00:13:04.830 --> 00:13:08.409 not a two -hour course. It is a two -week, 80 00:13:08.409 --> 00:13:10.289 -hour course. Okay, yeah, that's what I was going 00:13:10.289 --> 00:13:13.039 to ask. Where is it located? At our repair center, 00:13:13.120 --> 00:13:14.840 we have a 10 ,000 -square -foot repair center 00:13:14.840 --> 00:13:17.480 in Colorado Springs, Colorado. That's great to 00:13:17.480 --> 00:13:20.080 hear. So if anybody wants to join, there will 00:13:20.080 --> 00:13:21.860 be a link in the description so you guys can 00:13:21.860 --> 00:13:24.419 check that out, as well as a link for this if 00:13:24.419 --> 00:13:26.779 anyone's interested. You guys offer a lot of 00:13:26.779 --> 00:13:30.100 solutions. So if any of those fit your needs, 00:13:30.259 --> 00:13:32.840 definitely reach out to them. It was great talking 00:13:32.840 --> 00:13:34.120 to you guys. Do you have anything else you'd 00:13:34.120 --> 00:13:39.120 like to add? No, I think I would just say there's 00:13:39.120 --> 00:13:41.399 a lot of pretenders in this space. There's a 00:13:41.399 --> 00:13:43.419 lot of, uh, fleecers in the space, if you will. 00:13:43.600 --> 00:13:46.259 It's maybe a strong word, but people whose business 00:13:46.259 --> 00:13:49.159 model is to find, you know, newcomers and maybe 00:13:49.159 --> 00:13:51.480 charge them, charge them so much they're unlikely 00:13:51.480 --> 00:13:55.639 to make a profit. And I think, um, that is absolutely 00:13:55.639 --> 00:13:57.720 not our MO. And we, we actually kind of want 00:13:57.720 --> 00:13:59.019 to break that down a little bit. I think it's 00:13:59.019 --> 00:14:02.120 important, um, to be careful in this space if 00:14:02.120 --> 00:14:04.539 you're a newcomer. Uh, and I think it's important 00:14:04.539 --> 00:14:07.019 to start small and to test, test people out. 00:14:07.059 --> 00:14:10.669 You know, we, we certainly don't, uh, We certainly 00:14:10.669 --> 00:14:12.990 are of the opinion that we also want high quality 00:14:12.990 --> 00:14:16.149 customers who are intelligent, who are, you know, 00:14:16.149 --> 00:14:21.190 risk averse in a way. And we want to be able 00:14:21.190 --> 00:14:24.250 to partner for the long term. And so, you know, 00:14:24.269 --> 00:14:25.950 that's our view. That's our position. We hope 00:14:25.950 --> 00:14:29.309 we continue to build out meaningful tools for 00:14:29.309 --> 00:14:30.889 folks in the space. So even if you don't want 00:14:30.889 --> 00:14:33.470 our products, but you've been in the space or 00:14:33.470 --> 00:14:35.250 trying to get in there, certain pain points that 00:14:35.250 --> 00:14:37.009 you have, reach out. We'd love to know more. 00:14:37.649 --> 00:14:40.330 That's great. All right. Thank you guys so much 00:14:40.330 --> 00:14:42.509 for taking the time to talk and I'm looking forward 00:14:42.509 --> 00:14:45.029 to seeing what you guys are bringing 2025 and 00:14:45.029 --> 00:14:48.590 beyond. Sounds good. Thank you. Awesome. Thank 00:14:48.590 --> 00:14:48.750 you.