Bitzero Holdings, a Bitcoin miner that secured low-cost power infrastructure globally, is pivoting to supply power for A

Artificial intelligence is creating a new class of infrastructure giants virtually overnight, and one innovative Bitcoin miner that made an early leap into the global power business is being rewarded for years spent securing massive amounts of low-cost electrical power around the world. 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 Norway, Finland, and the United States.

The company continues mining Bitcoin because the business generates strong cash flow at some of the lowest power costs in the industry. But Bitzero's sights are now set on a much larger prize: the AI data-center buildout that McKinsey estimates could require nearly seven trillion dollars in global infrastructure spending by 2030, including roughly five point two trillion dollars tied directly to AI workloads alone.

That prize started becoming reality on May 5, when Bitzero signed a binding letter of intent with OneQode Networks covering the full 110 megawatt 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 two point six billion dollars over the lease term and marks Bitzero's formal entry into the large-scale AI data-center infrastructure market. This is exactly why Shark Tank's Kevin O'Leary is one of Bitzero's earliest and biggest backers. O'Leary has taken on a strategic investor role in the company since its formation because he sees Bitzero as a fundamentally different kind of crypto enterprise, one rooted in energy infrastructure, not just speculation and the data-center boom. As O'Leary stated, "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."

If cheap power built Bitcoin's first fortune in China, clean power is building the next one in the North Atlantic. Norway and Finland, home to immense hydroelectric and nuclear baseloads, have quietly become the new gravity centers for digital infrastructure. Power prices across parts of the Nordic region are significantly below many major European markets, and critically, hydroelectric and nuclear-heavy grids provide the kind of stable long-duration electricity AI workloads demand. Cold climates also drastically reduce cooling costs for data centers.

That is the geography of Bitzero's expansion strategy. In Norway, the company's flagship Namsskogan operation already supports active Bitcoin mining and is now becoming the foundation for its AI infrastructure business following the OneQode agreement. Bitzero also controls additional Norwegian expansion capacity tied to a broader development pipeline that management says could eventually scale well beyond 300 megawatts as grid upgrades continue. In Finland, Bitzero has secured a massive one-gigawatt development campus in Kokemäki tied directly into low-cost Nordic power infrastructure. In the United States, Bitzero's North Dakota footprint includes a 225,000-square-foot complex spread across roughly 184 acres, with additional staged power delivery planned through future expansion agreements.

Under the AI agreement, Bitzero will generate revenue by leasing the site's power capacity and infrastructure to OneQode, with OneQode paying 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 management, the OneQode agreement is structured at roughly 135 dollars per kilowatt per month with a three percent annual escalator. At full utilization, the 110 megawatt Namsskogan site could generate roughly 176 million to 178 million dollars in annual revenue. A recent shareholder analysis modeling the agreement estimated potential annual NOI of roughly 151 million dollars based on an 85 percent margin profile tied to the contemplated lease structure.

Across Europe and North America, AI infrastructure developers are running into transformer shortages, interconnection delays, grid congestion, and multi-year energization timelines. Many competing campuses are still years away from delivery because securing large-scale power infrastructure has become harder than securing capital. Commercial real estate giant JLL estimates global data-center capacity will nearly double by 2030, requiring almost 100 gigawatts of new supply, with speed to power being the single most important factor driving data-center expansion. With grid connection wait times in major markets already stretching beyond four years, Bitzero is ahead of its time.

SpaceX completed the largest IPO in history on June 12, pricing at 135 dollars a share for a 1.77 trillion dollar valuation and topping two trillion dollars in market cap on its first trading day. The listing raised roughly 75 billion dollars. But the AI data center story here is about what SpaceX became after merging with xAI in February: a company that now describes itself in its own IPO filing as the operator of the largest AI training data center clusters on Earth. Those clusters are Colossus 1 and Colossus 2, the xAI supercomputers built near Memphis, Tennessee, originally to train Grok. In May, SpaceX struck a deal with Anthropic that hands over essentially the entire Colossus 1 facility, with more than 300 megawatts of capacity across roughly 220,000 NVIDIA GPUs.