Reframing crypto mining as energy-backed infrastructure.

The pitch needed to explain the power contracts, equipment and operating costs behind the mining operation.

I rebuilt the strategy and capital narrative around the venture's physical sites, hardware, power contracts and operating cost. The company completed a $114M institutional raise in under 30 days.

I shifted the capital narrative from coin-price upside to the sites, power supply and cost of running the machines.

The perception problem

The pitch led with coin price. The assets needed explaining.

Leading with coin-price upside left the power supply, hardware and cost basis unexplained. Those assets were central to the narrative I developed.

The venture had generators, miners, power contracts and physical sites. The materials needed to explain those assets alongside the coin-price risk.

The allocator test

What happens when the coin price drops?

The strategy needed to address a lower coin price alongside power cost, hardware and operating assumptions. The case for the business could not depend on the price moving up.

I built the strategy around the power supply and cost basis, with the coin-price assumptions kept visible.

The reframe

Energy-backed digital infrastructure, sited on stranded power.

Stranded energySited on stranded oil-and-gas power

Real megawattsGenerators and miners on the ground

Near $0.05/kWhLow-cost power under the machines

Owned capacityLow-cost compute you control, not rent

The narrative explained how stranded oil-and-gas power supplied the machines and what that electricity cost. The mining revenue still depended on coin price; the infrastructure framing did not remove that exposure.

The engagement

6 months

Engagement length

~$0.05/kWh

Power under the machines

Under 30 days

Raise came together

$114M

Institutional raise during the engagement

Raise timing

The institutional raise came together in under 30 days.

Time to come together

Under 30 days for this institutional raise

<30 days

This raise

Reported elapsed time, without a sourced comparison to other raises.

What the materials covered

The materials covered power contracts, hardware and a cost basis near five cents a kilowatt-hour. The financing took under 30 days; that timing alone does not establish why investors decided to fund it.

To be precise: the work here is the narrative and strategy that set up the raise, not the money itself. My contribution was the strategy and capital narrative, not the investment decision.

The point

The narrative connected the financing case to physical assets and operating assumptions. The Market Buys Your Story discusses that commercial translation without treating the story as the sole cause of a raise.

The raise was the company's. The strategy and capital narrative were my contribution.