Could existing Bitcoin mines become more valuable as new data centers face construction restrictions? CoinShares’ France managing director Benoît Pellevoizin argued that their power contracts and grid connections could offer an advantage—but companies with paying AI tenants would benefit most.
PANews reported his comments on November 10, 2026, citing Crypto Briefing. Pellevoizin said restrictions on new data center construction following the U.S. midterm elections could increase the value of existing Bitcoin mining infrastructure. This was a potential outcome, not a confirmed increase in asset values.
Existing grid access is the operational advantage
Pellevoizin pointed to growing public resistance to new facilities over electricity prices, water consumption and the influence of large technology companies. Existing mining sites face fewer obstacles because they already hold power contracts and grid connections.
According to CoinShares data cited in the report, grid-connection delays for many projects have exceeded five years, with the average in the PJM region exceeding seven years.
Paying tenants distinguish the valuations
The report contrasted two types of infrastructure:
- Fully leased AI data centers: valued at approximately $27 million per megawatt.
- Some publicly listed miners with energized but unleased capacity: valued at less than $3 million per megawatt.
These are infrastructure valuation comparisons, not construction costs, operating expenses or measures of Bitcoin mining profitability. Pellevoizin’s assessment emphasized that having power available is not the same as having paying AI tenants.
Original publication: November 10, 2026, at 08:20:44 UTC+8. Original PANews article.