What if energy transition is evolutionary, not ideological?

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AI’s rise isn’t just a software story—it’s an energy story. We sit down with Dynamix CEO Andrejka Bernatova to map the hard tradeoffs behind powering data centers, blockchain networks, and onshored manufacturing, and why the smartest path forward treats the grid as “one energy” rather than a fight between fossils and renewables. Andrejka brings two decades across banking, private equity, and operating roles to unpack how real assets get built, funded, and run when demand is surging and patience is scarce.
We dig into the economics that quietly drive the transition: oil and gas don’t lose via slogans; they lose when marginal inventory costs rise and renewables scale down the cost curve. That’s why the near-term decarbonization move is a pragmatic shift from coal and diesel to gas, buying time to scale solar, wind, batteries, and later nuclear—while software orchestrates microgrids and smooths variability. Expect data centers to push from roughly 4% toward 12% of US power, with Bitcoin, Ethereum’s staking economy, and industrial onshoring adding pressure. Against that backdrop, Andrejka explains why valuation discipline beats hype cycles, how operator-led investing de-risks execution, and what “resilience” really means when weather, cyber risk, and geopolitics collide.
We also break down Dynamix Ether Machine merger: a clean, pure-play vehicle for investors who want exposure to Ethereum with a focus on staking, restaking, and DeFi participation—without legacy baggage. From European-style efficiency gains in buildings to smarter siting, heat reuse, and contract structures, the conversation offers concrete ways to align reliability, price, and sustainability. If you care about the real constraints behind AI’s growth—and the capital strategies that will actually deliver—this is your guide to the grid we’re building next.

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Розділи

1. Setting The Stakes: Energy x AI x Crypto (00:00:00)

2. Operator-Led Investing And “One Energy” (00:02:00)

3. Pricing Dynamics: Fossil Fuels Vs Renewables (00:04:20)

4. Funding Cycles And Valuation Discipline (00:06:25)

5. Ether Machine: A Pure Ethereum Play (00:06:58)

6. Energy Use, Grids, And Crypto Narratives (00:08:35)

7. Demand Surge: AI, Bitcoin, Onshoring (00:10:05)

8. Resilience, Variability, And Grid Software (00:12:00)

9. Near-Term Decarbonization: The Case For Gas (00:13:20)

10. Risk, Prices, And Efficiency Lessons (00:15:20)

11. Energy Sovereignty And Geopolitics (00:18:00)

12. Discipline, Partnerships, And What’s Next (00:19:00)

13. Closing And Broadcast CTA (00:20:05)