Bitcoin mining offshoot Nscale loses Microsoft AI deal as power delay stretches into 2030s
The Nvidia-backed company planned to deliver 23,000 AI chips in Britain next year, but its grid connection may not be ready until the 2030s.
AI summary
Nscale, a Bitcoin mining offshoot backed by Nvidia, has lost a Microsoft AI deal after its UK grid connection was delayed until the 2030s. The company had planned to deliver 23,000 AI chips in Britain next year. The setback highlights how power infrastructure constraints can derail miners' pivot to AI compute, a narrative that has supported BTC mining stocks, so traders may read it as a negative signal for that diversification theme.
