matthew sigel, recovering CFA(@matthew_sigel):Assuming a full 460MW of critical IT, this deal prices 30% higher per MW per year than Anthropic's deal with Volta in Norway. If 460MW is the full power and usual ~1.2x PUE, then it prices at $20M+/MW/year, 50% higher than the Volta/BTDR $12.5M/MW/year. Same Vera Rubin chips.

matthew sigel, recovering CFA

@matthew_sigel

Head of digital assets research @VanEck_us. PM, VanEck Onchain Economy ETF ($NODE). Disclosures

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matthew sigel, recovering CFA@matthew_sigel

2026.08.26 18:37

Assuming a full 460MW of critical IT, this deal prices 30% higher per MW per year than Anthropic's deal with Volta in Norway. If 460MW is the full power and usual ~1.2x PUE, then it prices at $20M+/MW/year, 50% higher than the Volta/BTDR $12.5M/MW/year. Same Vera Rubin chips.