CoinShares says data center bans could make Bitcoin miners’ power assets more valuable

CoinShares argues that municipal bans on new data centers could increase the value of incumbent Bitcoin miners' power assets, as scarce approved grid connections become a competitive moat. The report frames regulatory access to electricity, rather than hash rate alone, as a growing driver of miner valuations. It comes as data center demand from AI and cloud computing competes with mining for limited power capacity. Watch for further local permitting decisions and utility interconnection queues, which could widen the premium on miners holding long-term power contracts.