A quote just crossed our desk: 4MW of powered land for 3 million dollars a year, with electricity billed on top. That is 750,000 dollars per megawatt, per year, for dirt and an interconnection promise. The compute is not in the building. The chips are not in the rack. You are renting the right to wait in a five year grid queue and paying a premium for the privilege.
This is the part the market keeps getting wrong. The AI buildout is not the bubble. The bubble is powered land as a service. Landlords are underwriting decade long leases against scarcity that is already eroding, and when behind the meter generation becomes the default, those rent rolls collapse. Behind the meter capacity in the US is projected to exceed 40GW by 2028. The moment a developer can generate power on site, a 750,000 dollar per MW ground lease is worth a fraction of the paper it is printed on. That is not an AI correction. That is a commercial real estate bubble, and it will pop.
Flux Core sits on the other side of that trade. We understand power, so we develop our own opportunities instead of renting someone else’s bottleneck. Our deployments are power agnostic, running on stranded gas, renewable solar paired with battery storage, or grid power, and cooled by a closed loop liquid system that uses zero outside water. No ground lease. No queue. No pass through markup on electricity.
Stop renting a power problem. Talk to Flux Core about owning the energy and monetizing the data.