Texas Data Center Audit Lifts Bitcoin Miner Asset Values Amid Ongoing Coldcard Attacks
A Texas data center audit has tightened power supply for bitcoin miners, potentially lifting their asset values. Bernstein analysts say that existing mining sites with secured grid access and power agreements have become scarcer and harder to replicate assets.
The power scarcity benefits not only bitcoin miners but also AI data center operators, as they gain added optionality and asset value from being able to pivot capacity between BTC production and AI workloads. However, the audit's supply constraint has weakened the strategic positioning of dual-use infrastructure operators who cannot adapt their operations.
In other news, a fourth Coldcard attack wave has been flagged by Galaxy Research, which could push total losses to $130 million. The attacks have eroded trust in hardware wallets and put pressure on the BTC price. Moreover, Strategy's broken accumulation flywheel and recurring BTC sales have removed a major demand floor, bearing directly on near-term BTC price levels.