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The Bitcoin network now draws somewhere between 138 and 175 terawatt-hours a year, depending on whose model you trust… Split across the roughly 164,000 coins minted annually since the last halving, that lands at around 500 barrels of oil equivalent at today's prices per Bitcoin, and past 600 on the higher estimates. But Bitcoin is the warm-up act. The real energy story is artificial intelligence.
Data centers pulled about 415 terawatt-hours off the world's grids in 2024, according to the IEA. Run that through the same conversion, and you get roughly 670,000 barrels of oil equivalent a day, every day, just to keep the servers humming.
By 2030 the agency expects that to more than double to 945 terawatt-hours, the equivalent of about 1.5 million barrels of oil equivalent a day…That's the daily output of a mid-sized oil producer, burned to train models and answer questions. And the grid isn't ready for it.
That's why. Shark Tank's "Mr. Wonderful" is backing Bitcoin with a big twist: using Bitcoin mining cash to build out low-carbon power facilities for AI data centers.
"If I want exposure to crypto, I only need three positions now … I own Bitzero because they mine Bitcoin and they're actually a power company."
Years before artificial intelligence triggered a global race for power capacity, Bitzero Holdings was using cash flow from Bitcoin mining operations to secure large amounts of low-cost electrical power across
"We aren't moving into data centers--we're the backbone," said Bitzero chief executive Mohammed Bakhashwain.
AI Infrastructure Is Becoming a Global Power Grab
AI companies are now scrambling for the same thing oil companies have fought wars over: secure access to energy. JLL estimates global data-center capacity will nearly double by 2030, requiring almost 100 gigawatts of new supply and as much as
Grid connection wait times in major markets are already stretching beyond four years. Transformer shortages are worsening. Transmission bottlenecks are emerging across major data-center corridors. Utilities are increasingly struggling to accommodate hyperscale AI campuses demanding hundreds of megawatts at a time.
Before the scramble for data-center power even began, Bitzero had secured more than a gigawatt of power across
Hydroelectric plants that once exported surplus energy south now feed mining clusters north of Trondheim and near Pori, where ambient air cools thousands of ASICs without mechanical chillers.
Securing an energy-generating crypto mining facility here means a clear advantage: industrial rates under
The same megawatts that power Bitcoin are increasingly being allocated to AI computing and high-performance data centers, a collision of two of the most power-hungry industries on the planet.
As hyperscalers scramble for clean capacity, the line between crypto mining and AI infrastructure is dissolving. That's where Bitzero (AIBZ) has positioned itself years ahead of the curve, designing modular, mining facilities that are able to accommodate compute hubs for AI and scientific workloads.
And on
Bitzero: Mining for AI Gold
Founded in 2021, Bitzero has quietly assembled one of the most scalable clean-energy portfolios in the digital infrastructure sector. It now boasts over 1 gigawatt of growth capacity spread across four strategic sites in
Its flagship hydro-powered operation in Namsskogan,
According to CEO
The letter of intent signed on
For Bitzero, the deal means that it will generate revenue by leasing the site's power capacity and infrastructure to OneQode. But at the same time, OneQode pays the electricity bill tied to running the AI systems inside the facility.
That means Bitzero captures the recurring infrastructure revenue from the site without directly absorbing the massive ongoing power costs associated with operating large-scale AI workloads. That places Bitzero at an advantage to its peers, based on internal company research.
According to management, the OneQode agreement is structured at roughly
The Norwegian site, built on a former UN airbase adjacent to an offshore-wind-fed grid, is designed solely for AI computing clients. Located near the
With one lease deal in the pipeline, Bitzero is also eyeing the future of its
In
Bitzero (AIBZ) isn't just leasing capacity -- it builds and owns the infrastructure beneath it. That makes its cost curve largely immune to grid congestion, curtailment penalties, or the political whiplash.
Other companies to keep an eye on:
Q1 FY2026 results reinforced that narrative. AWS grew 28%, its fastest clip in 15 quarters, on a very large base.
Alphabet is approaching the AI data center race from a position of unusual strategic depth. Unlike its hyperscaler peers, Google designs and manufactures its own AI chips -- Tensor Processing Units -- giving it a degree of supply chain independence that Microsoft and
The spending commitment is massive either way. Alphabet guided 2026 capital expenditures to between
GEV sits at the intersection of two massive trends: the AI power build and the broader grid electrification push. Every megawatt a hyperscaler adds to its data center footprint needs a transformer, switchgear, and grid connection.
CoreWeave may be the most interesting new name in the AI infrastructure universe. The company, which listed publicly in 2025, operates GPU clouds built around large fleets of NVIDIA chips, renting compute to AI labs and enterprises under multi-year contracts. It functions as what the industry calls a neocloud. Earlier this year, Meta signed a
The business model is straightforward but capital-intensive: CoreWeave acquires NVIDIA GPU clusters, houses them in data centers, and sells access at a margin. The margin works because GPU compute is scarce and demand is structural.
The case for
By. James Stafford
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