Key facts
- The U.S. could see electricity prices rise up to 58% by 2030 without $1.4 trillion in new infrastructure investment.
- Power demand from AI data centers and cryptocurrencies is projected to grow tenfold by 2030.
- Bitzero has secured power contracts in Norway, Finland, and North Dakota, with 110 MW in Norway powered by hydroelectricity.
- Bitzero's Bitcoin mining breakeven cost is approximately $50,000 per Bitcoin.
- Investor Kevin O'Leary has backed Bitzero, calling it a 'power company' positioned to benefit from AI and crypto demand.
The escalating demand for electricity, driven by the rapid expansion of artificial intelligence data centers and cryptocurrency mining, is creating a significant power shortage that even major technology figures like Elon Musk have acknowledged. A White House warning in July 2025 highlighted that without $1.4 trillion in new infrastructure investment, U.S. electricity prices could surge by as much as 58% by 2030, as power demand is expected to grow tenfold.
This surge in demand is straining existing power grids, leading to lengthy wait times for new data center connections, such as the seven-year waits reported in Virginia. Major tech companies like Microsoft, Google, and Amazon are exploring long-term solutions like nuclear power, but these are not expected to come online until the late 2020s or 2030s.
In contrast, Bitzero, a data center company backed by investor Kevin O'Leary, has strategically secured power contracts in regions with abundant and cheap electricity, including Norway, Finland, and North Dakota. Bitzero's Norway facility utilizes 100% hydroelectric power at a cost of 3-4 cents per kilowatt-hour, significantly lower than the U.S. average. The company is also a licensed grid operator in Norway, providing it with direct control over its energy supply and a competitive advantage, especially as Norway has capped new data center power concessions.
Bitzero's Finland site offers even greater potential capacity, powered by hydro and nuclear energy. In the U.S., the company has acquired a former military complex in North Dakota for its data center operations. Combined, Bitzero controls over 1 GW of potential capacity, comparable to a nuclear power plant's output.
Furthermore, Bitzero is already cash flow positive through its Bitcoin mining operations, which have a low breakeven cost of around $50,000 per Bitcoin, allowing it to fund its data center buildout. The company's efficient operations and strategic power acquisition have enabled it to thrive even after the April 2024 Bitcoin halving, differentiating it from competitors who struggled. Bitzero's CEO, Mohammed Bakhashwain, has led the company to significant growth in hash rate while maintaining low costs and 100% sustainable energy.