‘Shark Tank’ Star Kevin O’Leary Says Bitcoin Mining, AI Data Centers Are Locked In A ‘Power Struggle’ Amid Scarce Electricity In US
Renowned investor and “Shark Tank” personality Kevin O’Leary said Wednesday that artificial intelligence data centers and Bitcoin (CRYPTO: BTC) mining are “competing” for scarce electricity in North America.
O’Leary Says US Doesn’t Have Much Power
During an interview with Moneywise, O’Leary weighed in on the power situation in the region, noting that there isn’t much left on U.S. grids.
“Because of the insatiable demand for AI data centers, we’ve got a bit of a problem going on here. There is no power on the grid anymore,” O’Leary, also known as “Mr. Wonderful,” said.
He added that setting AI data centers and Bitcoin mining operations risks raising local power rates, which regulators avoid.
“There’s a lot going on here because you’ve got two competing forces,” O’Leary said, highlighting a power struggle between Bitcoin miners and high-performance AI data centers.
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