News about bitcoin mining

Microsoft has dropped a planned Nscale AI data center in Loughton, Essex, after UK Power Networks said enough grid power might not be available until the early-to-mid 2030s. The site was meant to house 23,040 Nvidia chips and deliver 50 megawatts to Microsoft's Azure cloud by early 2027, and Nscale says its other Microsoft contracts remain in place. The article says bitcoin miners moving into AI face heavy costs and slow payoffs: an AI-ready facility can cost $8 million to $15 million per megawatt versus roughly $700,000 to $1 million for mining, and of more than 4 gigawatts of AI capacity under contract, only about 550 megawatts is billing customers. Meanwhile, data center grid connection requests in Britain total about 73 gigawatts, and regulator Ofgem is weighing tougher rules.