Bitcoin mining offshoot loses Microsoft AI deal as power delay stretches into 2030s
Summary
Microsoft has abandoned a planned 50-megawatt AI data center in Loughton, Essex, after the local grid operator warned that power may not be available until the early-to-mid 2030s. Nscale, a company descended from bitcoin mining, has cleared the site and is seeking alternative power; its other Microsoft contracts remain in place. The setback highlights a wider challenge for miners shifting to AI: facilities are far more expensive to build than mining sites, and much contracted capacity is not yet generating revenue. Ofgem says data center connection requests total about 73 gigawatts and is considering tighter rules for the crowded grid queue.
