CoinShares says data center bans could make Bitcoin miners’ power assets more valuable

CoinShares says restrictions on new AI data centers could benefit miners with existing power connections, but signed tenants remain critical to capturing higher valuations. Restrictions on new data center construction following the US midterm elections could increase the value of existing Bitcoin mining infrastructure, although companies with paying AI tenants stand to benefit most, according to Benoît Pellevoizin, managing director of CoinShares France. In a written interview with Crypto Briefing, Pellevoizin said growing opposition to AI data centers is making existing grid connections more valuable as new projects face longer approval timelines and greater regulatory uncertainty. According to the Associated Press, voters supported restrictions on data center development in 44 of 45 completed local referendums during last week’s midterm elections. The measures included outright bans, temporary moratoriums and other construction restrictions. An NBC News exit poll also found that 56% of voters considered AI and data centers a crucial or major factor in their congressional vote. Pellevoizin said concerns about electricity prices, water consumption and the influence of Big Tech have...