The March Agreement and the Power Challenge
In March, a significant event took place at the White House when Microsoft, Google, Amazon, Meta, OpenAI, Oracle, and Elon Musk’s xAI joined President Trump. Together, they signed a document that will have a lasting impact on how AI’s leading companies operate in the coming years. These tech giants committed to paying for every megawatt of new electricity their AI projects require and covering all grid infrastructure these projects depend on.
This commitment signifies a major shift in the way AI is being developed and supported. The seven largest names in technology told the President they would pay whatever it costs to keep AI running. This move highlights the critical role of power in the AI industry and the need for reliable energy sources.
Bitzero: A Key Player in the AI Power Race
Bitzero (NASDAQ: AIBZ) has already secured what Big Tech needs most for today’s ongoing AI boom. The company controls more than a gigawatt of low-cost power across Norway, Finland, and North Dakota. All of this was secured years before the March announcement, including in countries where building anything comparable at this scale is no longer possible. Additionally, they just announced a major deal with a long-term tenant at their flagship site where, like Big Tech, the tenant has agreed to cover the electricity costs.
The spending numbers from Silicon Valley confirm that the race to secure the power for AI isn’t just talk. The five biggest AI infrastructure providers plan to spend anywhere from $660 billion to $690 billion on capital expenditure in 2026. That figure dwarfs the entire defense budget of nearly every country on Earth, and the vast majority of that money is going specifically toward AI infrastructure.
The Power Gap and the Timeline Dilemma
Even with all of that money, AI could soon hit a wall most investors haven’t even noticed yet. There simply isn’t enough power to absorb it. While many missed the rise of Nvidia in 2023, long before it became the $5 trillion AI darling, the AI boom has spread far beyond chip companies and Big Tech hyperscalers. The obvious AI plays are now well-known and largely priced in.
But the AI boom hasn’t slowed down. It’s just moved a layer deeper, into the inputs AI actually runs on, and the biggest input by far today is electricity. Unfortunately, the timeline has given cause for concern to companies that are seeing AI use rising higher by the day.
A new utility-scale power plant would take five to ten years to go from approval to operation. And while nuclear is gaining attention, new nuclear capacity is even slower. Microsoft’s deal to restart the Three Mile Island reactor won’t deliver electricity until 2027 at the earliest, and Google’s first Kairos Power reactor isn’t expected online until 2030.
Even the most ambitious project underway can’t outpace the timeline. Stargate — the $500 billion AI infrastructure venture from OpenAI, Oracle, and SoftBank — has grown to nearly seven gigawatts of planned capacity, with sites confirmed or under development in Texas, Michigan, and Wisconsin among others. But even Stargate’s success depends on what local power grids can actually support, and most of those gigawatts won’t be generating electricity for years.
Bitzero’s Strategic Position
The Pledge signed in March only committed Big Tech to pay for the new power. It didn’t shorten how long it takes to deliver it. That’s where Bitzero hopes to shorten the gap as AI demand continues to ramp up.
Bitzero spent the last four years building exactly what Microsoft, Google, Amazon, and Meta now need to power AI. The company’s flagship facility sits in central Norway, where it draws 100% renewable hydroelectric power at 3 to 4 cents per kilowatt-hour, roughly a third of what most U.S. data centers pay today.
Bitzero also manages its own connection to the grid directly, which means the company doesn’t rent its electricity from a utility. It controls its own power supply, which very few public companies can say in 2026.
Expanding Infrastructure and Revenue Streams
The company isn’t just holding power, though. It’s already turning it into the infrastructure the AI boom needs most. This month, Bitzero officially made its move into the AI data center space after signing a binding letter with a long-term tenant for an AI data center.
The company just signed a binding letter for a 15-year lease with AI cloud provider OneQode for the full 110 megawatts at the Norway site, with first deployment targeted for the first half of 2027. The deal is worth up to $2.6 billion, with 85% of that expected to be net income after OneQode covers electricity costs.
That puts the entire flagship facility under a long-term tenant with deployment expected next year, while most operators are still waiting on grid approvals. Once the Norway facility has those 110 megawatts operational, that would equate to roughly $2-3 billion in market value in today’s AI buildout craze.
Strategic Investments and Market Position
Kevin O’Leary, a “Shark Tank” star, became a strategic investor in Bitzero before any of this — before the White House Pledge, before Stargate, and before AI infrastructure spending crossed half a trillion dollars. He recognized the importance of power contracts in the current landscape.
O’Leary highlighted the problem long before most of the market understood what the fight was even about, and Bitzero is positioned as a strong solution at the heart of it. With the AI boom going stronger than ever, we need gigawatt-scale power, plugged into the grid right now, with AI hardware already in production.
While very few public companies can credibly claim they have it, Bitzero is one of them. Competitors with similar long-term AI deals are now worth $2-3 billion in market value for every 100 megawatts under contract. With 1 gigawatt of potential capacity across Europe and North America, that creates a sizeable opportunity for the company in today’s AI buildout. And with Big Tech set to spend upwards of $600 billion on AI infrastructure, the companies securing the power could be the biggest winners to watch.