After the Divorce, I Found a Thousand Bitcoins - Chapter 46
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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I Got Divorced and Found a Thousand Bitcoins Episode 046
JP Morgan Headquarters, USA.
Richard Blake was listening to reports from his subordinates.
“Save Data filed for bankruptcy an hour ago. This brings the total number of data centers that have closed since the Arkon incident to seven.”
The Arkon incident.
It was an event that shocked global financial markets.
When it became known that Arkon, a massive data center ranked in the top 5 globally, was actually operating at a loss the more it ran its centers, money rapidly fled.
Investors worried about the AI bubble pulled their money out, and then President Goldwin delivered the decisive blow with his tariff negotiation decision.
The fortunate thing was that the rebound was as strong as the rapid decline.
“Even though the market has recovered from all its losses, data centers continue to show particular weakness.”
“It seems the biggest reason is that they’ve lost market confidence.”
“Above all, the theory that data centers can’t turn profitable with current technology seems to be proving correct.”
Data centers were like the core of the AI industry.
Since AI becomes stronger as more data accumulates, data centers were absolutely necessary.
Additionally, handling massive amounts of computation and reducing the heat generated during calculations was another reason why data centers were crucial.
The problem was that data center technology couldn’t keep up with the advancing AI.
“Ultimately, unless these uncertainty factors are resolved, more data centers will continue to close.”
“Yes, that’s why the trading department is also reducing its exposure to data centers.”
“The Arkon CDS we secured this time was a great help. Thanks to that, we were able to hedge to some extent and significantly reduce our losses.”
The CDS secured from Choi Kang-hyeon served to hedge the losses suffered by JP Morgan’s trading department.
Of course, it didn’t perfectly cover the losses, but compared to other companies, they could say they performed well.
“We shouldn’t be complacent about that. We need to prepare while remembering that we missed what Mr. Choi discovered.”
“Understood.”
“Is that all you have to report?”
“There’s one more thing. Nereid Cooling Systems’ bond maturity is approaching.”
Nereid Cooling Systems.
It was a representative data center researching various new technologies including immersion cooling.
It was a place that also operated a pilot data center and had suffered major damage in this recent market downturn.
“What’s the reaction from the creditors?”
“…They’re refusing the rollover.”
Rollover meant extending the maturity of a product approaching its due date to the next maturity date.
Refusing it meant the company had to repay money to the creditors.
“Which creditors refused?”
“Whiterock Credit.”
Whiterock’s rollover refusal, which could be considered the biggest player.
It was enough to make Richard Blake frown.
* * *
Kang Hyeon, who had returned to South Korea, took some time to relax and have his own personal time.
“Hup! Hup!”
What he focused on most was exercise.
When he was in South Korea, he never skipped workouts, but when he was in India, circumstances didn’t allow it.
Although there was a fitness center in the hotel, he was too busy with work to make time for exercise.
So after returning to South Korea, he never missed his workouts.
“Phew…!”
After completing today’s workout and finishing his shower, as he was coming out.
“Oh? Teacher?”
Kang Hyeon spotted a familiar face standing at the desk and called out to him.
“Member, it’s been a long time.”
Kang Chan-wook, who had been his first PT instructor, greeted him with a bright smile.
“Are you working here again?”
“Yes. My schedule is free until the next match, so I came to do some part-time work.”
“Right. You quit because of the match. How did it go?”
“I won, of course.”
Strength could be felt from his posture as he threw a punch.
“Oh! So now you’re fighting in EFC?”
“Yes, I signed an official contract.”
“Congratulations!”
“Haha, thank you.”
Making it to EFC, the world’s top fighting organization, but there was something puzzling.
“Huh? But you still have to do part-time work?”
“Just because I signed a contract doesn’t mean big money comes in right away. But once I fight an official match, the fight money will be pretty good, so this will probably be my last part-time job.”
He didn’t know anything about the mixed martial arts world, but Kang Chan-wook was a champion representing an Asian organization.
And now he had made it to EFC, yet he still had to do part-time work.
‘It must be quite a difficult market.’
While he was thinking this, Kang Chan-wook looked over Kang Hyeon’s body from various angles.
“But it seems like you’ve gained some muscle since I last saw you?”
“Ah, yes. Thanks to your good teaching, I’ve been exercising consistently since then. But I lost some muscle during this trip to India.”
“You went to India?”
“Yes, for company business.”
“Aha, then how about taking PT lessons again? I’ll work you hard… I mean, teach you well!”
It seemed like he was about to say “work you hard.”
Still, Kang Chan-wook’s lessons had suited him quite well, so Kang Hyeon nodded.
“Alright. Then please take good care of me this time too.”
“Haha! I should be the one asking you to take care of me!”
Thus, Kang Hyeon decided to receive PT from Kang Chan-wook again.
* * *
Returning to the office, Kang Hyeon found Ha-ryul organizing documents.
“Ha-ryul, what are all those documents?”
“Oh, these are investment request documents that arrived, so I was organizing them.”
Investment companies receive investment proposals and IR materials through various channels including brokers.
Related materials come from various fields including not only companies but also movies and games.
KH Capital, registered as a family office, rarely received materials through channels other than brokers, but this time the volume seemed quite substantial.
“It seems like the volume has increased significantly compared to before?”
“Previously, IR materials only came from global prime brokers like JP Morgan. But this time, IR materials came from domestic brokers as well as various other places.”
“From various places?”
“Yes. That’s why I was doing some classification.”
IR materials coming from various places had one meaning.
“I guess our company has attracted that much attention.”
Kim Ha-ryul nodded as if agreeing with Kang Hyeon’s words.
“I would probably send investment proposals to a company that achieved this level of results in such a short time too.”
“Oh, that’s right. You also reviewed investment-related matters at your previous company, didn’t you?”
“Not just that, I did all sorts of miscellaneous work.”
Ha-ryul smiled bitterly.
She must have had her own struggles.
Well, everyone has lived differently.
“While organizing the documents, if you find any investment opportunities that look promising, please let me know.”
“Yes, understood!”
Watching her expression gradually come alive since coming here, Kang Hyeon entered the executive office.
Sitting in front of his computer, Kang Hyeon checked if there were any new emails.
[No new emails.]
Unfortunately, there were no emails that had arrived.
The contact he was waiting for was from India.
‘The inspection team must have departed. I suppose they’re conducting the inspection in stages, so they haven’t discovered that place yet?’
This construction project was proceeding on a very extensive scale.
Even after the inspection team departed, it would take over a month just to tour all the related areas.
Moreover, since India had a state government system like the United States, they also had to conduct practical work with the state governments.
In other words, this wasn’t something that would be finished in a short period.
‘This is an investment where I shouldn’t feel impatient. If I wait patiently, it will eventually return to me as a great benefit.’
Though he was curious about how it would return, Kang Hyeon didn’t rush himself.
Just then, he heard a knocking sound.
Knock knock.
“Yes, please come in.”
“CEO.”
The person who entered was Kim Ha-ryul.
In her hands was a single document, with JP Morgan’s logo stamped on the cover.
But that wasn’t the important part.
‘The document is glowing…’
A red light was emanating from the document in her hands.
* * *
Richard Blake had left his office after a long time to meet an old friend.
The place he arrived at was Whiterock Credit, one of the world’s top funds.
Upon arriving there, he was immediately guided to where the executives’ offices were located.
And he met Samuel Rosenthal, his old friend and vice president of Whiterock Credit.
“Rosenthal.”
“Blake.”
The two men, both of Jewish origin, exchanged a light handshake and sat down facing each other.
“You came today because of Nereid, I suppose.”
Rosenthal immediately brought up Blake’s intention.
Blake nodded and got to the point.
“If you pull out, Nereid will immediately go bankrupt. You know that well, don’t you?”
“I know. But our clients’ money comes first. We can’t expose our clients’ money to risk to save that place.”
A textbook answer.
For funds, clients’ money came first, not corporate money.
“Just as you have your position, we have ours.”
“Phew, so you’re saying you didn’t refuse the rollover simply to negotiate conditions.”
“We’re not such thugs. The rollover refusal is our stance. It won’t change no matter how much you improve the conditions.”
Having confirmed Whiterock Credit’s position, Blake chose an alternative.
“If we connect another client from our side, can you transfer the bonds?”
“If the price is right, it’s possible. But who would buy DC bonds at this point? Especially Nereid’s bonds, which haven’t shown results yet.”
He was right.
Currently in the market, trust in data centers was at rock bottom.
Moreover, Nereid was a stock whose price had risen based on expectations for new technology, not as a data center.
As a result, despite having no track record, the stock price was on the high side, and naturally the bonds were also trading at quite high prices.
“We’ll handle that part on our end.”
“We welcome it anytime.”
That word “welcome” probably didn’t mean they’d sell on his terms.
But at least he could get them to the negotiating table, so he could breathe a sigh of relief.
‘The problem is whether there’s anyone in the current market willing to purchase DC bonds.’
It was a matter of timing.
Nereid’s new technology was certainly excellent.
If it could be commercialized, it had enough potential to change the market paradigm.
The problem was that data centers’ credibility in the current market was at rock bottom.
A high-risk transaction.
The question was whether there was anyone willing to make such a transaction.
‘What a headache.’
Richard Blake, leaving Whiterock Credit’s office, felt a strange headache coming on.
* * *
KH Capital CEO’s Office.
Kang Hyeon reviewed the JP Morgan IR materials that Ha-ryul had brought.
[Nereid Cooling Systems]
It was a company he’d never heard of before.
Well, with so many companies in the United States.
How could he know them all?
What mattered wasn’t the company name but what this place did.
‘What kind of place is this to be glowing like this?’
Wondering if the price might rise, he also pulled up the stock chart on his monitor.
But he couldn’t find any particular glow in the stock price.
This meant one thing.
‘So the answer isn’t in the chart but in this document.’
The problem was that he didn’t have much knowledge about data centers.
Still, he roughly grasped the information about the company.
‘So this company develops new technology for immersion cooling. In the United States, they believe that if this technology is successfully developed, it could instantly change the game’s paradigm.’
The problem was that such new technologies took a long time to commercialize.
‘Plus, there are many cases where they fail to commercialize and fall through.’
The reason why the global fund called Whiterock Credit decided not to roll over this place’s bonds was probably for such reasons.
The worldwide question marks about data centers would have been the trigger.
‘But the fact that this document emits red light means there’s a high possibility the technology will be commercialized. So what Nereid needs is time.’
After pondering for a moment, Kang Hyeon made his decision.
‘I can give them that time.’
His next target was decided.
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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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