Our Thesis
Bitcoin mining is the buyer of first resort to activate idle megawatts. Energy production rights are the next great asset class.
Compute is outrunning power.
AI and high-performance data centers are driving the steepest rise in power demand in a generation.
The bottleneck isn't supply. It's demand.
Bitcoin mining is the only buyer that can consume a site's power from day one.
Activate the energy. Bank Bitcoin. Retain production rights.
The yield comes from activating new energy; the security is the right to produce it.
Secured down to the natural resources.
Bitcoin upside, anchored by the energy rights beneath it.
The Payoff
Whatever Bitcoin does, the position holds.
When Bitcoin rises, the fund earns more Bitcoin than it lent, so it beats simply holding it. When Bitcoin falls, two protections engage: a price hedge, and, on a miner default, ownership of newly activated energy production rights the fund can resell to AI companies.
Every scenario
Beats holding Bitcoin
Repaid in Bitcoin plus interest, so the fund earns more Bitcoin than it lent.
Hedge holds the line
The hedge gains as Bitcoin falls, offsetting the drop.
Unlikely
Mining is profitable when Bitcoin rises, so miners rarely default. Collateral still stands.
Floored by energy rights
Recourse converts to production rights, a real asset that appreciates with AI demand.
The security
Bitcoin
Yield and appreciation.
Bitcoin hedge
Cushions drawdowns.
Production rights
Newly activated power, acquired at a discount. An appreciating asset.
Scenarios shown for illustration. Not a projection, guarantee, or offer.
Who We Are
Energy, Bitcoin, and institutional credit, all under one roof. The team has managed large-scale credit portfolios and structured credit across energy and digital infrastructure since 2017, underwriting power and Bitcoin the way credit investors underwrite anything: on the cash flows and the collateral.
Built for institutional capital.
O2 works with a select group of qualified investors. Request access to the full thesis and terms.
Request Access