Forget Critical Metals, Electricity is The Real Bottleneck for Artificial Intell

The article argues that the AI boom is increasingly constrained by electricity rather than semiconductors or critical metals. It highlights how investors are shifting toward companies with access to cheap, reliable power and grid infrastructure, citing BitZero’s data-center and Bitcoin-mining model as an example of “energy sovereignty.” The piece says BitZero has over 1 GW of growth capacity across Norway, Finland, and North Dakota, with a 40 MW hydro-powered facility running at under $0.05/kWh and a new 110 MW Norway project that could generate about $176 million in annual recurring revenue. It also frames power producers and infrastructure suppliers as beneficiaries of AI-driven electricity demand, naming Vistra, Eaton, and GE Vernova as key market winners.