O'Leary Doubles Down on Bitzero as AI Energy Demand Soars

Kevin O'Leary, also known as 'Mr. Wonderful,' has taken an early position in Bitzero Holdings Inc., a Canadian company that builds sustainable data centers for Bitcoin mining and high-performance computing.

O'Leary describes Bitzero as a 'power real estate company,' not a crypto play or software bet, due to its long-term electricity contracts at rates between 4 and 6 cents per kWh in jurisdictions like Norway, Finland, and North Dakota.

The company has secured deals that are projected to generate significant revenue, including a 15-year lease with OneQode Networks for 110 megawatts of power capacity at its Namsskogan site in Norway, which is expected to produce around $2.6 billion over its lifetime.

O'Leary's conviction in Bitzero stems from the company's ability to capitalize on AI energy needs, as both Bitcoin mining and AI computing require massive power draw, cooling systems, and low-latency connectivity.