THE AI DATA CENTER POWER LEDGER

Every megawatt will be
monetized.

Compute is the product. Power is the constraint. We track who owns the gigawatts that the AI build-out runs on — and what the market is paying for them.

40.2

GIGAWATTS TRACKED

10

COMPANIES

$164.6B

AGGREGATE MARKET CAP

Power Leaderboard

#
COMPANY
GW PORTFOLIO (OP · CONTRACTED · ANNOUNCED)
OPERATIONAL
30D
PRICE
DAY
MKT CAP
VAL / GW

01

Hut 8 Corp.

HUT

9.1GW

0.71

$123.02

+4.5%

$13.8B

$1.5B

02

IREN

IREN

5.8GW

0.81

$47.21

-1.1%

$16.8B

$2.9B

03

Nebius Group N.V.

NBIS

4.2GW

0.22

$240.30

-6.4%

$61.0B

$14.5B

04

Cipher Digital

CIFR

4.2GW

0.21

$25.94

+1.0%

$10.5B

$2.5B

05

Galaxy Digital Inc.

GLXY

3.5GW

0.13

$29.26

+3.5%

$11.4B

$3.2B

06

Core Scientific, Inc.

CORZ

3.1GW

0.35

$27.20

-0.3%

$13.7B

$4.4B

07

Applied Digital Corporation

APLD

3.1GW

0.10

$39.16

-4.4%

$11.2B

$3.6B

08

Bitdeer Technologies Group

BTDR

3.0GW

1.47

$17.15

+4.6%

$4.2B

$1.4B

09

TeraWulf Inc.

WULF

2.3GW

0.06

$25.83

-0.9%

$11.0B

$4.8B

10

Riot Platforms, Inc.

RIOT

1.9GW

1.26

$28.57

+2.9%

$10.8B

$5.8B

VAL / GW = MARKET CAP PER GIGAWATT OF PORTFOLIO (OPERATIONAL + CONTRACTED + ANNOUNCED).  FIGURES ILLUSTRATIVE — NOT INVESTMENT ADVICE.

Every megawatt will bemonetized.

Power Leaderboard

Every megawatt will be
monetized.