To get 5% off of your CoolWallet purchase, use my link: https://www.coolwallet.io/discount/davidcwWatch CoolWallet CEO Michael Ou's interview with me: https://youtu.be/R5XLKIcyOvI?si=lG7aR7dHyOV5N0N2Fred Thiel, CEO of Marathon Digital Holdings, explains why Bitcoin corrected in November 2025 and describes how his company is diversifying into AI computing while continuing to mine Bitcoin rather than selling holdings to fund the transition like competitors.Watch Fred's last interview with David and Bonnie Blockchain: https://youtu.be/azBuQuJ5_Us*This video was recorded on December 9, 2025.To get 5% off of your CoolWallet purchase, use my link: https://www.coolwallet.io/discount/davidcwSubscribe to my free newsletter: https://davidlinreport.substack.com/Listen on Spotify: https://open.spotify.com/show/510WZMFaqeh90Xk4jcE34sListen on Apple Podcasts: https://podcasters.spotify.com/pod/show/the-david-lin-reportFOLLOW FRED THIEL: Website: https://www.mara.com/Twitter (@fgthiel): https://twitter.com/fgthielFOLLOW DAVID LIN:X (@davidlin_TV): https://x.com/davidlin_TVTikTok (@davidlin_TV): https://www.tiktok.com/@davidlin_tvInstagram (@davidlin_TV): https://www.instagram.com/davidlin_tv/For business inquiries, reach me at david@thedavidlinreport.comDISCLAIMER: This video is for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice. Always conduct your own research and consult a licensed financial professional before making any investment decisions.The views and opinions expressed by guests are solely their own and do not represent the views of this channel. Any forecasts or forward-looking statements are based on personal opinions and are not guarantees of future performance.This channel may include sponsors or affiliates. Their inclusion does not constitute an endorsement, and the channel is not responsible for the performance, claims, or actions of any sponsor, affiliate, or third party.No content in this video should be interpreted as a solicitation to buy or sell any securities or assets. Investments carry risk, including the potential loss of principal.0:00 - Intro.0:51 - Why Bitcoin dumped in November6:00 - Are miners selling Bitcoin to fund AI pivots?14:05 - Mara’s Bitcoin treasury and mining22:06 - Zero-cost energy strategy25:06 - Institutional investment thesis for miners29:25 - Hashrate vs price divergence and becoming “energy companies”33:32 - Crypto and governments38:00 - Flexible loads and energy usage#bitcoin #economy #investing