Uploaded June 2026 | Updated September 2026, 2 weeks ago
🚨 CHECK OUT TBL PULSE FOR FREE: research.thebitcoinlayer.com
In this episode, Nik welcomes back Daniel Batten, bitcoin researcher and longtime voice on bitcoin's role in energy, for a conversation on the collision between AI, the power grid, and bitcoin mining. Daniel explains why AI data centers are the worst kind of load for a grid, how the rush of renewables made balancing supply and demand even harder, and why bitcoin mining has quietly become the flexible load that solves both problems at once. He walks through a Swedish operator running at a negative two cents per kilowatt hour, the 30 peer-reviewed papers behind the thesis, and the seven grid operators already using it. Nik and Daniel also discuss why bitcoin may solve an energy problem before the world realizes it solves a monetary one.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
The Bitcoin Layer is proud to be sponsored by The Bitcoin Way. Most people know how to buy bitcoin, but few know how to truly secure it. The Bitcoin Way offers one-on-one, white glove self-custody training so you can take full control of your bitcoin wealth with zero counterparty risk. They never touch your bitcoin. From air-gapped hardware to inheritance planning to node running, they handle the full stack. They also offer personal cybersecurity services and Plan B residency in Panama for those seeking jurisdictional sovereignty. Book a free consultation today: thebitcoinway.com/tbl
Timestamps:
0:00 Intro
1:53 What You'll Learn: Energy Before Money
3:31 Why Grids Have to Balance Supply and Demand
4:55 The Energy Trilemma and Why Gas Wins
8:03 Data Center Economics and the SpaceX Deal
9:46 What Daniel Saw Across Europe
10:09 The Swedish Miner at Negative 2 Cents
14:45 30 Papers and 7 Grid Operators
16:15 Why Batteries Aren't Enough
19:45 Why AI Load Is the Worst for Grids
22:10 The 2% Shock Absorber for Data Centers
23:51 What This Means for bitcoin Investors
26:03 Acceptance, Adoption, and Price
27:48 None of This Happens Without AI
29:36 Uniting Left and Right on bitcoin Mining
33:51 The Investment Case and What to Watch
35:52 Where to Find Daniel's Research
📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
▶️ Subscribe and turn on notifications for TBL on YouTube.
🎙 Subscribe to The Bitcoin Layer on your favorite podcast platform.
🐦 Follow TBL on X: /thebitcoinlayer
Nik Bhatia's Twitter: /timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB
🚨 CHECK OUT TBL PULSE FOR FREE: research.thebitcoinlayer.com
In this episode, Nik welcomes back Daniel Batten, bitcoin researcher and longtime voice on bitcoin's role in energy, for a conversation on the collision between AI, the power grid, and bitcoin mining. Daniel explains why AI data centers are the worst kind of load for a grid, how the rush of renewables made balancing supply and demand even harder, and why bitcoin mining has quietly become the flexible load that solves both problems at once. He walks through a Swedish operator running at a negative two cents per kilowatt hour, the 30 peer-reviewed papers behind the thesis, and the seven grid operators already using it. Nik and Daniel also discuss why bitcoin may solve an energy problem before the world realizes it solves a monetary one.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
The Bitcoin Layer is proud to be sponsored by The Bitcoin Way. Most people know how to buy bitcoin, but few know how to truly secure it. The Bitcoin Way offers one-on-one, white glove self-custody training so you can take full control of your bitcoin wealth with zero counterparty risk. They never touch your bitcoin. From air-gapped hardware to inheritance planning to node running, they handle the full stack. They also offer personal cybersecurity services and Plan B residency in Panama for those seeking jurisdictional sovereignty. Book a free consultation today: thebitcoinway.com/tbl
Timestamps:
0:00 Intro
1:53 What You'll Learn: Energy Before Money
3:31 Why Grids Have to Balance Supply and Demand
4:55 The Energy Trilemma and Why Gas Wins
8:03 Data Center Economics and the SpaceX Deal
9:46 What Daniel Saw Across Europe
10:09 The Swedish Miner at Negative 2 Cents
14:45 30 Papers and 7 Grid Operators
16:15 Why Batteries Aren't Enough
19:45 Why AI Load Is the Worst for Grids
22:10 The 2% Shock Absorber for Data Centers
23:51 What This Means for bitcoin Investors
26:03 Acceptance, Adoption, and Price
27:48 None of This Happens Without AI
29:36 Uniting Left and Right on bitcoin Mining
33:51 The Investment Case and What to Watch
35:52 Where to Find Daniel's Research
📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
▶️ Subscribe and turn on notifications for TBL on YouTube.
🎙 Subscribe to The Bitcoin Layer on your favorite podcast platform.
🐦 Follow TBL on X: /thebitcoinlayer
Nik Bhatia's Twitter: /timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB
