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Institutional BTC accumulation and yield.
BTC energy finance.
O2 brings idle megawatts online through Bitcoin mining, backed by energy production rights. The fund acquires BTC below spot, earns yield on top of appreciation, and holds energy assets that appreciate independently of BTC.
The Opportunity
Surging demand. Stranded supply.
Compute, led by AI and high-performance data centers, is driving the steepest rise in power demand in a generation. Yet enormous supply sits unused: gigawatts of generation stalled in interconnection queues, or stranded with no economic path to market.
Activating it takes immediate, flexible demand. Large-scale Bitcoin mining can consume that power on site, from day one, monetizing capacity that would otherwise sit idle and establishing the energy rights beneath it. As compute demand grows, those rights appreciate.
~2,300 GW
of generation stalled in U.S. interconnection queues, more than the entire installed grid.
Lawrence Berkeley National Lab
How It Works
Accumulate Bitcoin. Own power rights.
Accumulate BTC
O2 finances Bitcoin mining on idle energy production sites, acquiring BTC at a structural discount to spot.
Outperform Spot
The fund earns Bitcoin-denominated yield on top of BTC appreciation, compounding returns beyond simple spot holding.
Two-way convexity
When Bitcoin rises, the fund outperforms. When it falls, energy production rights appreciate independently: an uncorrelated floor.
Who We Are
Institutional discipline for an emerging asset class.
O2 is built by people who have managed large-scale credit portfolios, structured finance across energy and digital infrastructure, and operated at the intersection of institutional capital and Bitcoin since 2017. We underwrite power and Bitcoin the way credit investors underwrite anything: on the cash flows and the collateral.
Get Access
Built for institutional capital.
O2 partners with a select group of qualified investors. Request access to the full thesis and terms.
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