A Bitcoin Miner Switches to AI for a $4.7 Billion Lease

A summary of the interesting content that I consumed this past week…

Question of the week: In August 2026, which layer of the AI stack would you put a dollar into today, and which layer would you avoid? My thoughts: LPS (Land Power Shell) is still the most obvious and fastest path to cash-on-cash returns. My partner and I have assembled almost 6GW of grid and behind-the-meter power coming online in a ramp from today through 2029. Energized land with a signed interconnection is the one input here that cannot be manufactured on demand, and as data centers meet more local resistance, the value of a site that is already permitted and powered goes up. Silicon…

related reading

• IIIa. Racing to the Trillion-Dollar Cluster - SITUATIONAL AWARENESSsituational-awareness.ai
• The Short Case for Nvidia Stock | YouTube Transcript Optimizeryoutubetranscriptoptimizer.com
• My picture of the present in AI — LessWronglesswrong.com
• AI Is Slowing Downwheresyoured.at
• The Moon Should Be a Computerpalladiummag.com
• Fast, scalable, clean, and cheap enoughoffgridai.us
• Roadmap: The AI data center stack - Bessemer Venture Partnersbvp.com
• How to Build the Future of AI in the United States | IFPifp.org
• Dylan Patel — Deep dive on the 3 big bottlenecks to scaling AI computedwarkesh.com
• To Boldly Go: The Case for Space Datacentersnewsletter.semianalysis.com
• Navigating the High Cost of AI Compute | Andreessen Horowitza16z.com
• Deep Dive: Economics of the AI Build-Out | Contrary Researchresearch.contrary.com