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
• AI Is Slowing Downwheresyoured.at
• Clouded Judgement 7.3.26 - The End of Compute Scarcity? Not So Fastcloudedjudgement.substack.com
• Roadmap: The AI data center stack - Bessemer Venture Partnersbvp.com
• Who Owns the Generative AI Platform? | Andreessen Horowitza16z.com
• AI Is Really Weirdwheresyoured.at
• Alchemy is all you needpress.airstreet.com
• Anthropic’s $6B Push to Lower AI Costschamath.substack.com
• The AI Industry Is Lying To Youwheresyoured.at
• The Most Expensive GPU is The One You Didn't Hedge - ADM Investor Servicesadmis.com
• The Most Expensive GPU is The One You Didn't Hedge - ADM Investor Servicesadmis.com
• Hyperscalers vs AI Labs Debate, and the Moving AI Frontiermbi-deepdives.com