PPT capacity vs actual capacity—this gap is so big that I’ve double-checked it three times.
The blueprint for a 6.3 GW project, but what’s actually running is only 192 MW, just 3%.
After writing code for ten years, I’ve seen this kind of thing countless times: “the planning documents are packed with detail, but the production environment is brutally disappointing.” Data centers aren’t as simple as buying GPUs and plugging them in. The power grid, cooling, approvals, operations and maintenance—every step can cut your rosy expectations in half.
Crypto circles in particular love this kind of storytelling. A miner’s—or a compute company’s—valuation is often priced in for capacity that won’t even be realized until three to five years later. Revenue up 73% is great, but don’t use a 2030 story to pay for today’s compute.
I DCA into BTC and I don’t touch this—one sentence explains it: hashrate bragging isn’t taxed, but electricity bills are.
The blueprint for a 6.3 GW project, but what’s actually running is only 192 MW, just 3%.
After writing code for ten years, I’ve seen this kind of thing countless times: “the planning documents are packed with detail, but the production environment is brutally disappointing.” Data centers aren’t as simple as buying GPUs and plugging them in. The power grid, cooling, approvals, operations and maintenance—every step can cut your rosy expectations in half.
Crypto circles in particular love this kind of storytelling. A miner’s—or a compute company’s—valuation is often priced in for capacity that won’t even be realized until three to five years later. Revenue up 73% is great, but don’t use a 2030 story to pay for today’s compute.
I DCA into BTC and I don’t touch this—one sentence explains it: hashrate bragging isn’t taxed, but electricity bills are.