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Tuesday, July 28, 2026

AI Wants Your Land, Water, Power


 July 27, 2026

“This is just like a free-for-all. There’s really no oversight. There’s really no regulation.” (Erin Brockovich, Brockovich AI Data Center Reporting)

Erin Brockovich is a well-known American consumer advocate who made her name by exposing evidence that Pacific Gas & Electric poisoned groundwater in Hinkley, California (1996) with toxic hexavalent. Now, she’s investigating AI datacenters.

AI date centers are everywhere, in every state throughout the land. They are starting to quasi-own American citizens via appropriation of resources, both human and natural. This is an invasion of the land, the water, the power, the intellectual resources of America.

Erin Brockovich was recently interviewed about her commitment to investigating AI development by Katie Couric, appearing on YouTube.

Erin: “I’ve never seen in 30 years anything like this… This is every town in every state, and all our resources at once happening.”

The common thread in submissions from individuals in communities across the land: “it feels to them like a takeover.” First, there is a lack of transparency. Local city councils, where “the people” should be represented are hijacked via non-disclosure agreements signed by local officials. This is step number one in gaining approval to build where city regulations and city code control the land. The locals are left out of decisions.

Datacenters Consume Natural Resources

Smaller data centers use about 500,000 gallons of water per day. The average family of four uses ~350 gallons of water per day. Therefore, a newly constructed small data center is equivalent to moving 1,428 new families into a neighborhood.

The bigger data centers, which are in vogue, being built right up next to hospitals, schools, and residences willy nilly use anywhere from 1-to-7 million gallons of water per day. On average, equivalent to moving 15,000-20,000 new families into a neighborhood.

“So, if we build 1,200 data centers… that’s the projection for the total and you just take an average of those between 500,000 to seven million, and the average is 5 million gallons per day, and multiple that by 365 days. You’re looking at numbers of 2.2 to 2.7 trillion gallons of water per year… that are on already drought restricted lands.” (Erin)

(There are already 4, 542 active data centers, 1,500 more are in the planning stage.)

A recent study by The Guardian found that 2/3rds of the planned data centers in the U.S. are in drought-stricken areas.

Datacenters disrupt the regular flow of water. For example, residents sent reports to Erin “of water bills going from $40/month to $250/month… and we’re seeing the exact same thing with electrical.”

According to Katie Couric, Sam Altman, CEO of Open AI, dismisses concerns about AI water use, “fake, completely untrue, totally insane, and having no connection to reality.”

In response, Erin wondered if Altman lives in the areas and experiences what residents report to her. He is implying that the reports by residents are false (16,000 total submissions to Erin by individuals involving various AI issues). “It is insulting.”

Erin asked AI itself in a query to the faceless genius a question of placement of data centers assuming the entire network were to start all over again from scratch, redesigned. AI responded that it would place new data centers based upon one simple rule: “Zero conflict with human resources.” Hmm.

“The people” who submit to Erin from all 50 states are saying the opposite of Sam Altman. And she’s going with the people as a more credible source. After all, they live in the immediate area of data centers. He does not.

Data Center Noise – Wow!

The “hum,” the “buzz” can extend a couple of miles away from a data center. The endless humming is a 24/7 annoyance that’s driving some people nuts. Residents are informing Erin of dizziness, nausea, headachy experiences. This is a common issue tbat’s reported from every one of the facility areas in the country.

Locals Fighting Back

Three hundred (300) municipalities have established moratoriums on data center development, some for one year, some for two years, some six months, some are flat-out bans.

But according to Erin, as usual, “many of them won’t be able to withstand the pressure by huge corporations that have got all the money in the world.”

Yet, public protests can exercise powerful influence. For example, in Utah it was clearly via public opposition that the governor had to scale back the size of the facility coming in.

And New York is the first state to ban development of new data centers as a moratorium for one year and direct state regulators to create standards focused on environmental impacts, energy demand, water usage and other factors: “As datacenter development threatens to hike up utility bills, deplete our natural resources, and create uncertainty for New Yorkers, it’s my responsibility to take action and lead,’ Hochul, a Democrat, said in a statement.” (New York Becomes First State to Impose One-Year Pause on New AI Datacenters, The Guardian, July 14, 2026)

According to Katie, a recent Gallup poll shows 7 out of 10 Americans oppose data centers being built near them, making it one of the few contemporary issues that has broad bipartisan agreement, republicans and democrats alike do not favor AI datacenters in their locales.

Meanwhile, the power source for data centers is passed off to consumers. Infrastructure is required. Erin has received submissions from people stating their utility bills normally $75 went up to $425. A recent submission by a resident out of Texas, which has the most data centers at 417, said their city notified residents to expect a 75% electrical bill increase.

Stated by Katie: According to The New York Times, PJM, the nation’s largest electrical grid operator’s results of an electricity auction will add $6.3 billion costs to consumers within the next 3 years, an increase driven by the power demands of data centers.

AI Ownership

Katie Couric’s interview of Erin Brockovich brought to light the impact AI has on the country’s natural resources but did not discuss nontangible resources like music or speech or art. These human resources, similar to natural resources, are public resources. Who owns these resources?

Bernie Sanders has an interesting take on ownership of resources: “The foundation of AI is based on our collective human intelligence. Our books, songs, artwork, journalism, computer code, scientific research, videos, conversations, images, and ideas span generations. The reality is that Big Tech oligarchs have fed this knowledge into their AI models without permission, without acknowledgement, and without compensation. The creative work of many millions of people – writers, artists, musicians, journalists, teachers, scientists and ordinary people- has been stolen by the wealthiest people in the world. In the coming weeks I will be introducing the American AI Sovereign Wealth Fund Act. This legislation would give the public a direct ownership stake in the largest AI companies in our country. Through a one-time 50% tax, not on the profit of the largest AI companies in the US but something that is far more valuable than that: The Stock. Under this bill the federal government would have the power through its voting shares and an equal representation on each company’s board to block decisions that hurt the public and to push for policies that help them. When a public resource generates wealth, the public should share in that wealth.”

Robert Hunziker lives in Los Angeles and can be reached at rlhunziker@gmail.com


The AI Race With China Is a Lie Told by Big Tech to Justify the Data Center Invasion

The truth is, we don’t need hyperscale data centers to “beat China.” We aren’t racing China. We’re killing ourselves so Silicon Valley can race itself.



Rural Michigan residents rally against the $7 billion Stargate data center planned on southeast Michigan farm land in Saline, Michigan on December 1, 2025.
(Photo by Jim West/UCG/Universal Images Group via Getty Images)


Mitch Jones
Jul 27, 2026

Food & Water Watch

As Big Tech races to build water-guzzling, energy-hungry data centers for its artificial intelligence, talk of an “AI race” between the United States and China has permeated public discourse. Pundits, politicians, and the media have all joined tech corporations in selling this narrative. And it’s giving license to Big Tech and their political handmaidens to ruin our communities, exploit our every action (both online and via AI-powered surveillance), and steal the wealth of human knowledge for private gain.

But the idea of an AI race between China and the US isn’t grounded in reality. The researchers, companies, and governments behind Chinese and US AI development are pursuing completely different goals.

The discourse in the US assumes that achieving artificial general intelligence (AGI)—computers that mimic human consciousness—would be so momentous and earth-shattering that clearly this must be the goal of anyone pursuing AI development. But that’s not the main goal of Chinese AI development. And a competition in which the competitors are running toward different finish lines isn’t a race.

If we allow the myth of an AI race with China to give Big Tech free rein, we face a more polluted, less equal world.
A Race Doesn’t Have Two Different Finish Lines

While the US is focused on artificial general intelligence (AGI) powered by Large Language Models (LLMs), Chinese developers are focused on AI embedded in products. It’s ChatGPT versus robots.

Yes, China is developing LLMs, although largely in an open-source way as opposed to the for-profit competition in the US. Recent news stories report that China is “catching” the US in LLM development. Indeed, the latest Chinese model outperforms leading US models. But this isn’t evidence of an LLM-AGI race. Instead, it shows that without making AGI its main focus, China is capable of developing its own models almost as quickly as US companies.

If every environmental review, every question raised by a community, every issue around water usage and electricity prices can be dismissed or lessened as “helping China,” then meaningful political debate can be silenced.

More to the point, LLM development in China is incidental to the country’s real goal for AI. Its focus remains on products embedded with AI and robots. Or, as AI policy researcher Liang Zheng says, in China, “The first priority is to use it to benefit ordinary people” (debatable, but indicates the kind of AI they are pursuing).

In the US, the first priority is to exploit people so that the tech oligarchs can profit. It’s chatbots all the way down.

This isn’t to argue that China is doing it “right” and the US is doing it “wrong.” Either approach will lead to a future in which citizens become increasingly disempowered. In which work becomes more scarce and less lucrative for most people. And in which a handful of billionaires grow wealthier and more powerful.

But the arguments being hauled out to support the destructive growth of hyperscale data centers are based on a fallacy. There is no need to “beat China.” China and the US are racing on separate tracks, in different races, with different finish lines.

These two separate approaches also explain the mind-boggling scale of the data center invasion we currently face. The massive hyperscale data centers—recent proposals would demand up to 5 gigawatts, enough electricity to power roughly 3.75 million US households—are only “required” because the US is racing toward AGI. Meanwhile, the embodied AI dominating in China does not require the same amount of computational power.

The truth is, we don’t need hyperscale data centers to “beat China.” We aren’t racing China. We’re killing ourselves so Silicon Valley can race itself.
How Big Tech Is Weaponizing the “AI Race” to Build Data Centers

Yet, the “AI race” story is a convenient lie for Big Tech and its political protectors. It is a neat political argument designed to insulate the industry from criticism and regulation.

If every environmental review, every question raised by a community, every issue around water usage and electricity prices can be dismissed or lessened as “helping China,” then meaningful political debate can be silenced. Real regulation—if even possible—can be avoided. Fear becomes a substitute for policy.

We understand why O’Leary and the other Tech Broligarchs don’t understand the grassroots opposition to data centers building across the country. It’s hard to spot the grassroots from the window of a private jet.

At the same time, data center developers and their minions in Washington have tried to weaponize false claims about foreign ties to the anti-data center movement. Kevin O’Leary of Shark Tank fame has explicitly said that our movement is being funded by China. He has no evidence because evidence of a falsehood can’t exist. In fact, Fox News has been forced to retract its coverage of his claims.

We understand why O’Leary and the other Tech Broligarchs don’t understand the grassroots opposition to data centers building across the country. It’s hard to spot the grassroots from the window of a private jet. But the opposition is real and organic, and no amount of disinformation and pushing the “AI race against China” scare tactic will derail the movement.
Big Tech Is Selling Us a Dystopian Future

The myth of an AI race with China threatens to propel us into Big Tech’s vision of the future—one that’s more unequal than ever. Yes, tech leaders suggest their algorithms will cure cancer, but their real goal is and has been to increase their power and wealth at the expense of the rest of us.

Even as American Tech Broligarchs have distanced themselves from earlier prophecies of widespread job loss, their vision of the future will see the vast majority of us out of meaningful work. We’ll be subject to living off whatever meager handouts are created in an attempt to mollify us.

Even if there were an AI race, is it worth running, let alone winning, if the prize is a dystopian future of mass misery with a thin layer of super wealthy tech oligarchs at the top?

At the same time, our movement will be traced whether or not we use the electronic gadgets they sell us. Already, surveillance devices linked to AI can recognize our faces, record our license plates, and report our movements. Companies and governments can buy this data in order to track us.

Meanwhile, “surveillance pricing” allows companies to change prices in an instant so that they can exploit our needs for their profit. Deepfake videos have already added to the rapidly decaying trust in a commonly shared world and a basic set of facts necessary for a functioning democracy. And this is but a scratch of the surface.

Even if there were an AI race, is it worth running, let alone winning, if the prize is a dystopian future of mass misery with a thin layer of super wealthy tech oligarchs at the top?
Big Tech’s Dystopian Vision Isn’t Inevitable

But we should be clear. This dystopian vision is not the inevitable outcome of unstoppable technological “progress” as the Tech Broligarchs would have us believe. Each and every decision being made to advance AI is a political decision. And, for now, we still have the ability to determine our political future.

Across the country, there is a growing resistance to the nightmare being shoved down our throats. Communities are coming together to fight the spread of destructive hyperscale data centers. Already in 2026, more than $130 billion-worth of proposed data center projects have been defeated and canceled.

That’s the real “AI Race.” Not China versus the US, but us versus Big Tech.

Communities are taking control of their futures by placing moratoriums on new data centers. New York enacted a one-year pause on new centers, and there is growing support for a nationwide pause in Congress.

We aren’t destined to live in Elon Musk’s fever dream. We have the power to stop him and his fellow Broligarchs. When we organize, we win. That’s the real “AI Race.” Not China versus the US, but us versus Big Tech. That’s not only a race worth running—it’s one we have to win.


© 2021 Food & Water Watch


Mitch Jones
Mitch Jones is the managing director of policy and litigation at Food & Water Watch.
Full Bio >


Monday, June 29, 2026

Fox News issues 'rare on-air apology' after comments from MAGA Shark Tank star

MR. WONDERFUL A CANADIAN IN AMERICAN DISGUISE

David McAfee
June 28, 2026
RAW STORY


Shutterstock


Fox News issued an unusual on-air apology this week following claims made by "Shark Tank" star and prominent Trump supporter Kevin O'Leary during an appearance on the network, walking back comments he made about opponents of his controversial data center project in Utah.

The apology was flagged by media journalist Brian Stelter, who described it as "a rare on-air apology by Fox News" that appeared to come in response to legal threats from people O'Leary had attacked during his appearance.

According to journalist Acyn, who shared video of the on-air statement, O'Leary had appeared as a guest on the network and discussed the ongoing controversy surrounding his planned data center project in Utah, making claims about the opponents of the development.

In its apology, Fox said there was no evidence to support O'Leary's claim that his opponents were working on behalf of China, distancing the network from the assertion.

The data center has drawn significant backlash. O'Leary has backed the development of a large-scale, 9-gigawatt facility on a 40,000-acre parcel of land in Utah, a project that has prompted outrage from local residents and state leaders. Critics, including scientists, have warned the natural-gas-powered facility near the Great Salt Lake could increase emissions, strain resources, and further damage an ecosystem already in decline.

The project has also made O'Leary a target for critics. Former "South Park" writer Toby Morton recently announced a billboard campaign aimed at the businessman, noting that he had purchased a domain matching O'Leary's social media handle to use against him.


On-air apologies of this kind are uncommon for the network, making Fox's decision to publicly disavow a guest's claims a notable moment — and one Stelter tied directly to the prospect of legal exposure over the remarks.




 

The AI boom propping up markets could trigger the next crash, central banks warn

People participate in a march to protest the opening of AI data centers in Vancouver, British Columbia, 27 June 2026
Copyright Darryl Dyck/The Canadian Press via AP


By Quirino Mealha
Published on

The vast surge of investment in AI, which has powered global stock markets to record highs, risks ending in a financial bust, the Bank for International Settlements warns, as the build-up’s hidden costs begin to surface in company accounts and consumer prices alike.

In its Annual Economic Report, published on Sunday, the Bank for International Settlements (BIS), known as the central bank for central banks, warned that the enormous spending on AI is accumulating financial vulnerabilities that could amplify any future shock and spread from markets into the wider economy

Presenting the findings, BIS general manager Pablo Hernández de Cos said the message was one of "urgency", with policymakers urged to act before any reversal makes the eventual adjustment more painful.

At the core of the warning is the scale of the spending, despite massive investment having supported global growth over the past year.

The five largest "hyperscalers", the technology giants racing to build AI infrastructure, are on track to commit more than $1 trillion (€878bn) to AI-related investment across 2025 and 2026, a pace that is outstripping their earnings and free cash flow and pushing some to borrow heavily to keep up.

The BIS suggests this race is fuelled by a belief that only a handful of dominant players will ultimately prevail, encouraging firms to pour money into projects whose returns remain deeply uncertain.

Echoes of past manias

The report sets today's AI boom against a long historical lineage, from the canal mania of the 1830s and Britain's railway mania of the 1840s to the electrification of the 1920s and the dotcom bubble.

Each began with a genuine technological breakthrough that attracted more capital than commercial returns could justify, the BIS notes, with each episode ending "with an eventual reversal in investment, inducing economy-wide recessions".

Compounding the danger are stretched share prices and opaque financing.

The BIS highlights the spread of "circular financing", in which chipmakers and cloud giants take equity stakes in AI labs that then commit to buying their chips and computing power, effectively recycling money back to the original investors as revenue.

Much of the funding now flows through hedge funds and private credit vehicles that face lighter scrutiny than banks.

According to Zhang Tao, the BIS chief representative for Asia and the Pacific, that reliance on non-bank channels means an AI downturn could unwind into a sharper, faster crash than a traditional banking crisis.

The hidden costs of data centres

Beyond financial markets, critics argue the true cost of the AI build-out is being obscured in plain sight.

A central concern, examined by the Wall Street Journal, is how the technology giants account for their data centres.

By assuming the expensive equipment inside them will stay useful for longer, firms can spread its cost over more years, lowering the depreciation charged against profits in any given period and making earnings look healthier than the underlying cash burn implies.

However, the specialist chips at the heart of these facilities may become obsolete far faster than those extended schedules assume, leaving a gap between reported profits and economic reality, as well as a balance sheet more exposed than it appears should demand disappoint or a sizable need to replace hardware arise.

FILE. Amazon Web Services data centre in Boardman, Oregon, Aug. 2024 AP Photo/Jenny Kane

The physical scale is staggering

Columbia University economist Stijn Van Nieuwerburgh estimates the build-out could cost in the region of $8 trillion (€7tn) over the next six years, financed in part through the kind of off-balance-sheet arrangements the BIS flagged.

The costs are also no longer confined to corporate accounts.

Some economists now warn of a so-called "third wave" of inflation, after the pandemic and tariffs, driven this time by the AI build-out. As chip manufacturers prioritise high-margin parts for AI servers, the resulting squeeze on memory and storage has rippled out to consumer electronics.

For example, Apple raised prices on its MacBooks, iPads and other devices last week, citing an "extraordinary surge in demand for memory and storage" and saying it had "never seen a component price increase this much, this quickly".

The company's shares fell around 6%, their worst day in over a year, as Microsoft, Nintendo and Sony have also made similar moves.

Beyond hidden costs and inflationary pressures, where the strain may spread furthest is raw power.

Goldman Sachs expects data centres to account for nearly half of the growth in US electricity demand by 2030, with consumer power prices forecast to rise around 6% a year through 2026 and 2027.

The BIS itself notes that the build-out's hunger for electricity is already pressuring prices and input costs, with potential spillovers to inflation, though it stresses, as do many economists, that AI could yet prove disinflationary if its promised productivity gains eventually arrive.



The AI Power Crisis Is Creating a Massive New Market for Fuel Cells


Data center developers are scrambling for reliable power, turning away from congested grids and toward on-site fuel cells. Rystad Energy research and analysis projects a tenfold increase in fuel cell market revenues by 2030, rising from around $2.8 billion in 2025 to roughly $30 billion, as AI computing demand drives unprecedented growth in data center construction. A contracted order book of approximately 9 gigawatts (GW), including framework agreements with Oracle, AEP, Equinix, and Brookfield, points to growing confidence among major operators in fuel cells as a viable long-term power source.

US grid interconnection timelines have tripled since 2015, now stretching to three to six years for large loads. Rystad Energy’s research projects 10.4 GW of cumulative fuel cell demand from data centers between 2026 and 2030, with around 40% of projected 2030 US data center capacity modeled as likely to pursue dedicated on-site power generation rather than grid connection. Unlike conventional grid connections or large gas plants, fuel cells can be deployed quickly and run on natural gas today, transitioning to biogas, renewable natural gas or hydrogen as supply matures, while producing lower on-site emissions than combustion alternatives. North America is expected to account for 91% of installed global on-site power generation capacity, thanks to a combination of grid delays, federal tax incentives and an established domestic supply chain.

Power availability has become one of the defining constraints on data center growth, and operators are increasingly looking beyond the grid for solutions. Fuel cells have moved from a niche application to a measurable part of the firm power mix. The question now is whether the supply chain can scale at the same pace as demand.

Lein Mann Bergsmark, Vice President, Clean Tech Supply Chain Research

Fuel cell graph

Fuel cell manufacturers are expanding capacity in response. Aggregate operational and planned manufacturing output is on track to reach 4 GW per year by 2030, up from 1.8 GW today. Solid oxide fuel cells (SOFC) have become the dominant technology for always-on data center power, accounting for around 53% of cumulative stationary deliveries to date. Bloom Energy holds virtually every primary-load SOFC contract in the visible order book, a concentration that presents supply chain risk if demand accelerates faster than one manufacturer’s production capacity.

That concentration extends to materials. Bloom Energy’s SOFC technology depends on scandium, a critical metal used in its electrolyte chemistry. At full utilization of its planned 2 GW manufacturing expansion, Bloom’s theoretical scandium requirement would approach the size of the entire global market, currently estimated to be around 60 tonnes per year. This potential bottleneck is compounded by the fact that China heavily controls the global scandium supply chain. Competitors using alternative electrolyte chemistries do not share this exposure, and a sustained supply constraint could influence how market share develops as the sector scales. Rystad Energy projects SOFC system costs will fall 20 to 25% by 2030, though the pace will depend on manufacturers’ ability to reduce costs across the full delivered system, not the fuel cell stack alone

Fuel cell chart

By Rystad Energy




The $7 Trillion AI Boom Is Turning Into The Energy Trade of the Century

You might think that Shark Tank’sMr. Wonderful,” Kevin O’Leary, is betting it all on AI, but he is not. 

He is betting on the $5+ trillion in infrastructure required to run it, and that’s where big capital is flowing now. 

And he’s betting on Bitzero (NASDAQ: AIBZ) to be one of the first to break AI’s biggest chokepoint: power. 

Bitzero was looking further ahead while most of the rest of the market was narrowly focused on AI software and semiconductors. 

As a result, on May 5th, Bitzero signed a binding letter for a 15-year lease deal for AI power as it makes its first official leap from low-carbon bitcoin mining to being a power provider for a $5-trillion data-center industry that is desperate for cheap electricity. 

This Canadian cryptominer-turned-energy-provider for AI has already secured more than a gigawatt of low-cost power across Norway, Finland, and the United States, as the money moves into the assets that AI can’t run without.  

Amazon alone projects $200 billion in 2026 capital spending, with most of it tied to data centers. Microsoft is expected to be around $190 billion. Alphabet is also projected near $190 billion, and Meta has laid out a $600 billion U.S. infrastructure plan through 2028. Current estimates now put combined 2026 capex for Amazon, Microsoft, Alphabet, and Meta as high as $725 billion, driven largely by AI data centers, chips, power, and long-lived infrastructure. McKinsey estimates another $5.2 trillion will be deployed into AI infrastructure this decade. That capital is funding land, power, facilities, substations, and equipment before AI capacity can operate.

Source: Oilprice.com; Reuters; McKinsey & Company; Amazon, Meta, Microsoft, Alphabet Q3 earnings.

Half the AI data centers being announced today may not get built because projects fail to secure power on time. 

More than 70% of interconnection requests are withdrawn, and only a fraction reach operation. Global data center electricity demand is projected to approach 945 terawatt-hours by 2030, roughly equal to Japan’s total consumption, according to the latest research from Berkeley Labs, which is affiliated with the U.S. Department of Energy’s Science Office. 

Megawatts will decide who builds and who doesn’t.

The AI Build List Is Under Duress

A large share of the AI data centers being announced today may never reach completion because power is not available when projects need it. That creates an advantage for companies like BitZero (NASDAQ: AIBZ) that already control gigawatt-scale electricity.

Artificial intelligence demand is expanding quickly, but the electricity required to run it is becoming harder to secure, slower to connect, and more expensive to deliver. 

More than 70% of interconnection requests are withdrawn, and only a small portion reach operation. At the same time, global data center electricity demand is projected to approach 945 terawatt-hours by 2030, roughly equal to Japan’s total consumption.

While investors were previously focused on semiconductor chips as the make-or-break element of the AI boom, it’s now clear that it’s a question of power above all. 

And that’s exactly why a forward-thinking cryptominer like Bitzero is well positioned to take advantage of the AI-power gap. 

“As electricity prices climb across the U.S., driven in large part by soaring demand from both Bitcoin mining and the rapid expansion of AI data centers, Bitcoin miners are at a distinct advantage because we locked in power access well ahead of the curve,” Mohammed Bakhashwain, founder and CEO of Bitzero Holdings, Inc., told Oilprice.com in a recent interview. 

Both cryptomining and AI require the same infrastructure: reliable power, advanced cooling, and industrial-grade data centers. 

“While others are still fighting for grid access, permits, and infrastructure, Bitzero secured those assets over the past four years and knows how to operate energy-intensive facilities at scale. That creates valuable optionality. The same megawatt can mine Bitcoin or support AI and data center workloads. In a market where power is the real constraint, we believe flexibility is a competitive advantage,” Bakhashwain said. 

Full Speed Ahead on the Biggest Boom in Computing History

Earlier this month, Bitzero (NASDAQ: AIBZ) completed engineering due diligence for up to 520 megawatts at its Kokemäki, Finland campus, eyeing up to 1GW at full ramp. An initial 80MW phase is targeted for the first half of 2027, with 400MW to 800MW expected to follow in later stages as the full buildout advances. 

And that’s just one venue. 

Bitzero’s Norway operations are already running as a fully built industrial platform. The company is operating Bitcoin mining at power costs below four cents per kilowatt-hour, which keeps the site active and monetized while additional infrastructure is layered on top. 

At Namsskogan, the next 70MW tranche is scheduled for energization in the fourth quarter of 2026, tied directly to a defined 325MW expansion corridor that follows existing grid capacity.

And here, in Norway, is where Bitzero’s great leap into data center power just became official. 

On May 5, Bitzero signed a binding letter of intent with OneQode Networks covering the full 110 MW capacity of its Namsskogan, Norway data center site under a 15-year lease tied to GPU-based AI workloads. The agreement carries an implied value of roughly $2.6 billion over the lease term and marks Bitzero’s formal entry into the large-scale AI data-center infrastructure market.

This is a double victory for Bitzero. 

When it mines in Norway, Bitzero uses its own electricity to generate revenue from the Bitcoin it produces. Under the AI agreement, Bitzero generates revenue by leasing the site’s power capacity and infrastructure to OneQode. Simultaneously, 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.

According to Bitzero management, at full utilization of 110 MW, the Namsskogan site could generate roughly $176 million to $178 million in annual revenue. A recent shareholder analysis modeling the agreement estimated potential annual NOI of roughly $151 million based on an 85% margin profile tied to the lease structure.  

It’s the plentiful, low-cost, low-carbon energy Bitzero has harnessed in Scandinavia that OneQode is after. 

Norway is served by hydro power, and Finland is served by a cocktail of low-cost hydro, nuclear, solar and wind energy. 

Finally, the North Dakota footprint gives Bitzero a second operating lane tied to U.S. demand. The company controls power-backed sites there that position it inside a different pricing and regulatory environment from its Nordic assets. 

Across Norway, Finland, and North Dakota, the operating model is consistent: secure power first, bring megawatts online in stages, and deploy that capacity into whichever use case offers the highest return at that point in the cycle, whether it’s mining, colocation, or AI compute.

The AI Investment Model Is Outrunning The Grid

It takes up to 7 years to build out a large-scale power source to feed a data center. 

Still, investors have been operating on a massive assumption: That the power will magically be there once all the data centers are built. This is where the data center hype meets an electrification reality. 

But securing power isn’t that easy. At a bare minimum, it requires grid studies, transmission access, permitting, utility negotiations and long-term pricing frameworks.

And demand is bursting. 

The IEA expects global data-center electricity use to grow 4X the growth rate of total electricity demand from every other sector combined. The agency is eyeing data center power demand of roughly double to around 945 TWh by 2030.

Similarly, Goldman Sachs has forecast data-center power demand soaring 175% by 2030 compared to 2023 levels.

That’s like adding an entire country to the grid.  

The business of sourcing power is not keeping pace with the business of building out data centers. 

We will need  $6.7 trillion in capital by 2030, including $5.2 trillion for AI infrastructure alone, in order to make the data center hype a reality. Yet, so far, grid investment expected to support that demand is only around $720 billion.

With more than a gigawatt of power already secured across Norway, Finland and North Dakota, Bitzero already controls sites, permits, grid access, and expansion capacity while AI developers line up to get a start on the 7-year process. 

Why Bitzero’s Model Is Getting Attention

Bitzero (NASDAQ: AIBZ) is building large-scale campuses backed by secured, low-cost power and positioning them for AI and high-performance computing demand. It’s not choosing between crypto and AI. It is running both. Bitcoin mining keeps capacity active and generates cash flow, while the same sites are being developed to support AI and HPC workloads as that demand scales.

“We see a really big opportunity in HPC,” CEO Mohammed Bakhashwain said, pointing to an engineering team that has already worked on deployments with Microsoft and Nscale in Norway. The company controls land, power, and infrastructure in place to deliver large campuses, and is already moving to market that capacity to AI tenants.

The model is built to capture two revenue streams off the same megawatts. Mining today and higher-value AI and colocation tomorrow. 

“We’re hoping to get the best of both worlds—the long-term, investment-grade cash flows from HPC and AI, while having exposure to Bitcoin,” Bakhashwain said. 

That keeps sites operating while capacity is repositioned for larger, longer-term contracts.

That structure is what has drawn investor attention.

Kevin O’Leary doesn’t frame Bitzero as a mining company. He calls it an energy contract business. The asset is the site: power secured at low cost, tied to land, permits, and continuous load. Mining monetizes that power now. Leasing compute and capacity to large off-takers is where the longer-term value sits.

“The value of what Bitzero has has risen dramatically, and I think over time the market will recognize that,” O’Leary said.

The company is building capacity that can be deployed into whichever market pays more at a given time. That is how the same infrastructure can generate cash flow today and scale into larger contracts as AI demand continues to build.

The AI power boom is also reshaping investor interest across some of the largest publicly traded U.S. energy companies. EQT Corporation (NYSE: EQT), the country's largest natural gas producer, is widely viewed as a key supplier of fuel for the gas-fired generation expected to support rising electricity demand. Vistra Corp. (NYSE: VST) has become a leading AI infrastructure play through its diverse fleet of natural gas, nuclear and renewable power assets, while Constellation Energy (NASDAQ: CEG) has attracted significant attention thanks to its position as the nation's largest producer of carbon-free nuclear electricity. Together, these companies underscore a growing realization across markets: the AI race is no longer just about chips and software—it is increasingly about securing dependable, long-term power. Companies that already control energy assets and grid-connected infrastructure are likely to occupy an increasingly strategic position as electricity becomes the defining constraint on AI expansion.

Given all of this, Bitzero is not simply participating in the AI buildout. It may be sitting on part of the infrastructure that others will have to come to, just as OneQode did on May 5th. 

The bigger point is where capital could start to flow as that logic sinks in. 

By. Charles Kennedy