I find what’s wrong in the numbers behind big operations, and I build the systems that fix it.

At MARA I was the only analyst under the VP of Finance for 18 bitcoin mining sites drawing 1.8 GW and $516 million a year in power, and I modeled converting them to AI and HPC. Before that I underwrote commercial real estate loans at Thorofare Capital. Since then I’ve co-founded Otian AI and built Archibald, an AI agent system that runs my own finances.

Based in: Dallas, Texas
Now: Co-founder, Otian AI
Before: MARA, Thorofare Capital
Studied: Real estate development, USC, 2021

Selected work

$1.8M

in billing errors, found by lining up the meters, our reports and the invoices
- Metered
- Billed
- Illustrative
Exhibit A · MARA, 2025 to 2026

The $1.8M power bill

Three sets of numbers that should have matched, and another customer’s charges on our power bill.
Read the case study

power-cost-model-sample.xlsx

K10fx=J10-I10

	B	C	D	E	F	G	H	I	J	K	L	M	N
1	Summary
2	Full year 2025, six sites. Made-up numbers.
3	Model checks	All checks pass
4
5	By site, full year 2025
6	Site	Contracted capacity (MW)	Metered (MWh)	Average load (MW)	Load factor (%)	Budgeted (MWh)	Metered vs budget (%)	Expected cost ($)	Invoiced cost ($)	Variance ($)	Variance (%)	All-in cost ($/MWh)	Flagged months (count)
7	Site A	120.0	989,816	113.0	94.2%	998,640	(0.9%)	$44,237,358	$44,284,111	$46,753	0.1%	$44.74	-
8	Site B	75.0	596,666	68.1	90.8%	611,010	(2.3%)	$27,019,725	$27,020,782	$1,057	0.0%	$45.29	-
9	Site C	48.0	400,406	45.7	95.2%	403,661	(0.8%)	$21,132,254	$21,130,981	($1,273)	(0.0%)	$52.77	-
10	Site D	90.0	723,011	82.5	91.7%	741,096	(2.4%)	$35,885,214	$37,372,784	$1,487,569	4.1%	$51.69	8
11	Site E	22.5	189,709	21.7	96.3%	191,187	(0.8%)	$10,597,708	$10,599,363	$1,656	0.0%	$55.87	-
12	Site F	97.0	759,118	86.7	89.3%	781,742	(2.9%)	$34,449,671	$34,420,250	($29,421)	(0.1%)	$45.34	-
13	Fleet	452.5	3,658,726	417.7	92.3%	3,727,336	(1.8%)	$173,321,930	$174,828,271	$1,506,342	0.9%	$47.78	8
14
15	Average load is metered energy over the hours in the year. Load factor is average load over contracted capacity.
16	Variance is invoiced minus expected. A positive number means the bill was higher than the contract terms and meters support.
17	A flagged month is one where the bill is further from the meters or the expected cost than the tolerance allows. Send the utility the meter data for that month and ask for a corrected bill.
18	The Fleet row comes from the Fleet column on Calc, not from adding up the rows above, so Checks can test one against the other.
19
20	By month, all sites
21	Month	Metered (MWh)	Expected cost ($)	Invoiced cost ($)	Variance ($)	Variance (%)
22	Jan 2025	314,808	$13,888,826	$13,897,101	$8,275	0.1%
23	Feb 2025	270,690	$15,529,250	$15,532,124	$2,874	0.0%
24	Mar 2025	320,482	$13,369,762	$13,363,639	($6,123)	(0.0%)
25	Apr 2025	310,360	$12,561,388	$12,579,547	$18,159	0.1%
26	May 2025	319,341	$13,831,248	$13,996,280	$165,032	1.2%
27	Jun 2025	300,516	$14,336,307	$14,523,400	$187,093	1.3%
28	Jul 2025	292,886	$16,889,712	$17,110,161	$220,450	1.3%

Read meSitesMarket pricesMeter dataInvoicesCalcSummaryChecks+

Exhibit B · MARA, 2025 to 2026

One model for 18 sites

Replacing a pile of separate reports with a single cost model. Includes a sample file you can open.

See the model

Writing and tools

Bitcoin, explained

Experience

Full résumé

2026 to present Otian AI · Co-founder Dallas
2026 to present Archibald · Builder, personal AI agent system Dallas
2025 to 2026 MARA · Lead Financial Analyst, Operations & Energy Transformation Dallas
2021 to 2023 Thorofare Capital · Analyst, Debt Originations Los Angeles
2021 University of Southern California · B.S., Real Estate Development Los Angeles

If you’re working on something hard to run or hard to finance, I’d like to hear about it.

jlraney99@gmail.com

I find what’s wrong in the numbers behind big operations, and I build the systems that fix it.

Selected work

The $1.8M power bill

One model for 18 sites

Archibald, the system that runs my admin

Otian AI, from formation to launch

Writing and tools

ERCOT power cost calculator

Bitcoin, explained

Experience