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$70B in AI and HPC contracts already signed by bitcoin miners. Core Scientific at 39% AI revenue. TeraWulf at 27%. MARA just locked in a 1GW joint venture with Starwood. This isn't a pivot. It's the shortest path to AI capacity in North America. Greenfield AI builds wait 4+ years for a grid connection. Crypto sites already have the substation, the transformers, the fiber, and ops teams that know how to run dense compute 24/7 in the middle of nowhere. Swap ASICs for GPUs, retrofit the halls for liquid, and you're energized while the hyperscalers are still in permitting hell. The miners who figured this out early aren't mining companies anymore. They're data center operators who happen to still hash on the side.