O'Leary Bets on Bitzero's Sustainable Data Centers for AI-Driven Demand

Kevin O'Leary, also known as 'Mr. Wonderful', has invested in Bitzero Holdings Inc., a Canadian company that builds sustainable data centers for Bitcoin mining and high-performance computing. He views the company as a 'power real estate company,' not a crypto play or software bet.

O'Leary's conviction is rooted in the company's long-term electricity contracts, which secure power at rates between 4 and 6 cents per kWh in Norway, Finland, and North Dakota. One such deal with OneQode Networks for 110 megawatts of power capacity in Norway is projected to generate $2.6 billion in revenue over its 15-year term.

Bitzero has raised over $100 million in private funding prior to going public and now claims more than 1 gigawatt of scalable power capacity across its operations. O'Leary describes Bitzero as one of his core infrastructure holdings for crypto exposure, citing the growing demand for data centers driven by AI computing.

The International Energy Agency has projected that data center power demand could double by 2030. Core Scientific and Hut 8 have also expanded their AI-focused capacity, while Applied Digital is building massive data centers for AI workloads.