Preheat Smoker to 225 degrees using a fruit wood (we like apple).
Prepare dry rub by adding a large handful of chips into a food processor until you have ½ cup of ground chips. Place ground chips into a bowl and add garlic powder, salt and pepper. Adjust seasoning to taste preference.
Trim the silver skin off of the tenderloin, and then coat with olive oil. Then place dry rub on tenderloin liberally. Can do this a couple of hours prior to cooking (keep in fridge until ready to cook).
Place tenderloin on the smoker for about an hour or until the Internal Temperature is 145 degrees Fahrenheit for medium rare and then remove from heat.
Let rest for 10 minutes and then slice for serving.
A great side is roasted potatoes or a puree.
If you want more of a crispy crust consider grilling at a higher temp or cranking up the heat towards the end. You'll still want to remove at 145 degrees F internal temperature.