Restrictions on new U.S. data centers after the midterm elections could make existing Bitcoin mining infrastructure more valuable—but companies with paying AI tenants stand to benefit most, according to Benoît Pellevoizin, managing director of CoinShares France.
PANews reported the comments on November 10, 2026, at 08:20:44 UTC+8, citing Crypto Briefing.
Why existing power connections matter
Pellevoizin said concerns about electricity prices, water consumption and the influence of large technology companies were increasing public resistance to new facilities. Existing mining sites face fewer hurdles because they already hold power contracts and grid connections.
According to CoinShares data, grid-connection delays for many projects now exceed five years, with the average in the PJM region exceeding seven years.
AI tenants distinguish the valuations
The report cited a substantial valuation gap:
- Fully leased AI data centers were valued at approximately $27 million per megawatt.
- Some publicly listed mining companies with powered but unleased capacity were valued at less than $3 million per megawatt.
The distinction is between securing electricity and securing paying tenants. Pellevoizin’s argument suggests restrictions could increase the value of existing mining infrastructure; it does not establish that miners with unleased capacity will achieve the valuations of fully leased AI facilities.