（原标题：垂直一体化，破解AI算力爆发与能源需求矛盾？） 21世纪经济报道记者雷椰 李德尚玉 实习生刘诗媛 北京报道 一是技术一致性，将能源与算力中心架构融合。未来，机电设备与服务器的深度耦合将催生集装箱式算 力中心、模块化算力单元等新形态，实现工厂化制造与装配。 二是资本一致性，在AI时代，资本需覆盖从能源、装备到算力服务的上中下游。这与过去产业分工明 确的模式不同。目前海外领先的AI公司与大模型企业，均已采用这种一体化的资本布局。 三是运营一致性，企业运营需打破传统分工边界。我们自身就从数据中心向上游延展至装备制造、新能 源发电与储能，同时基于持有的硬件与算力，向下游提供算力服务与网络传输。 近日，在《联合国气候变化框架公约》第三十次缔约方大会（COP30）召开期间，BCI Group创始人、 CEO居静和他的团队展示了其绿色算力基础设施样本。居静近日接受21世纪经济报道专访，探讨如何通 过垂直一体化破解AI算力爆发与能源需求的矛盾。 居静告诉21世纪经济报道记者，传统的数据中心业态具有过渡性质。"早在七年前布局大同时，我们就 提出了'垂直一体化'模式。"居静表示，其核心是实现三个层面的"一致性"： ...

Core Viewpoint - The upcoming quarterly wage price index is critical for determining the likelihood of an interest rate cut in Australia, with a figure below 3.4% potentially reigniting discussions for a cut in the first half of 2026 [1][2][4]. Wage Growth and Interest Rates - The wage price index currently stands at 3.4%, which aligns with market consensus and the Reserve Bank's forecast, indicating limited chances for a rate cut if this figure is maintained [1][6]. - Wage growth peaked in late 2023 at over 4%, but has since moderated to 3.4%, still higher than much of the past decade [6][10]. - A higher wage growth figure would diminish the prospects for an interest rate cut, suggesting that the current cycle of cuts may have reached its bottom [2][6]. Central Bank and Economic Indicators - The Reserve Bank of Australia (RBA) maintained the cash rate target at 3.6% in October due to higher-than-expected consumer price index inflation at 3.2% [8]. - The RBA's recent meeting minutes are expected to reflect a lack of enthusiasm for further rate cuts, as indicated by Governor Michele Bullock [7]. Banking Sector Scrutiny - Upcoming committee hearings in Canberra will question leaders from the big four banks regarding their practices, including interest rates and their impact on customers and employees [9][12]. - The committee aims to address concerns about the banking system's scrutiny and the timing discrepancies between RBA decisions and bank rate adjustments [12][13].

Core Insights - Token Cat Limited is shifting its focus towards high-technology and next-generation energy sectors after divesting its unprofitable business and restructuring [1] - The company plans to raise up to $500 million through its U.S. subsidiary to explore nuclear fission energy applications for future computing infrastructure and as a stable power source for AI operations [1][2] Strategic Expansion - The management highlighted that the increasing demand for AI and high-performance computing is putting significant pressure on energy supply and costs [2] - Nuclear fission is viewed as a promising area for exploration, with plans to study its commercialization and strategic fit [2] Research and Collaboration - The U.S. subsidiary aims to engage with research institutions, energy engineering firms, and AI computing companies to identify collaboration opportunities [3] - The focus will be on developing advanced fission reactor technologies, small modular energy systems, and integrated nuclear-powered computing architectures [3] Leadership Perspective - The CEO emphasized that the energy demands of AI are transforming the tech landscape, and next-generation energy solutions are crucial for future competitiveness [4] - The company intends to assess the role of nuclear fission in computing infrastructure with a balanced approach of caution and ambition [4]

CoreWeave, Nebius and peers such as IREN have surged this year on the back of multibillion-dollar contracts to provide AI computing capacity to large technology companies. ...

Core Insights - The 2025 Intel® WW LOEM Summit took place in Bangkok, Thailand, showcasing advancements in AI computing and innovation within the industry [1] - SIXUNITED, a long-term partner of Intel, presented a comprehensive range of full-stack AI products, emphasizing its capabilities in AI computing and ecosystem integration [3][7] - Intel introduced its "Firefly" AI Ultralight Laptop Initiative, setting new standards for AI laptops in terms of weight, battery life, and performance [5] Company Highlights - SIXUNITED showcased its full-stack AI product lineup based on Intel's latest architectures, including Meteor Lake, Lunar Lake, and Arrow Lake, marking a shift from performance-driven to intelligence-driven innovation [7] - The xN25 Series AI Laptop, weighing only 987g and measuring 14.8mm thick, supports multiple generations of Intel processors and features an OLED display [8] - The xB36-H02-BQ Mini PC, with a compact 0.8L form factor, delivers up to 65W of computing power, suitable for various applications [12] Software Innovations - SIXUNITED's AI Assistant 3.0 enhances workplace productivity through features like real-time meeting transcription and intelligent document retrieval [10][20] - The EAM (Enterprise Agent Management) Platform facilitates collaboration among intelligent agents, transitioning from "Personal AI" to "Organizational AI" [20] Industry Collaboration - The summit highlighted the importance of cross-industry collaboration in shaping intelligent ecosystems, with SIXUNITED playing a crucial role in Intel's open computing ecosystem [22] - Looking ahead, SIXUNITED plans to continue its partnership with Intel, participating in the upcoming Intel New Productivity Technology Ecosystem Conference [23] - The ongoing advancements in AI technology are expected to redefine user experiences across various industries [24]

Core Insights - HIVE Digital Technologies Ltd. will release its financial results for the six months ended September 30, 2025, on November 14, 2025, followed by an earnings call on November 17, 2025, at 8:00 AM EST [1][2] Company Overview - HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets using exclusively green energy, founded in 2017 [3] - The company operates next-generation blockchain and AI data centers in Canada, Sweden, and Paraguay, catering to Bitcoin and high-performance computing clients [3] - HIVE's infrastructure combines Bitcoin mining with NVIDIA GPU-accelerated AI computing, providing scalable and environmentally responsible solutions for the digital economy [3]

Publicly traded Bitcoin miner, MARA, recorded the firm’s highest ever quarterly revenue in Q3, generating $252 million, a 92% year-over-year increase.  The firm also generated income of $123 million or $0.27 per share compared to a loss of $124 million at this time last year, while improving its energized hashrate and its Bitcoin mining fleet efficiency. Shares of MARA were down approximately 5.8% today, changing hands at $16.96 as crypto and other asset markets fell.  But in an earnings call, the company h ...

Core Insights - HIVE Digital Technologies has achieved a significant milestone by reaching 23 Exahash per second (EH/s) in Bitcoin mining capacity, marking a 283% year-to-date growth, positioning the company among industry leaders in 2025 [1][9][10] - The company has acquired an additional 32.5 acres in Grand Falls, New Brunswick, to develop Tier III+ high-performance computing (HPC) data centers, capable of scaling to over 25,000 next-generation GPUs [2][5][6] - HIVE's strategy focuses on leveraging renewable energy to support the growing demand for AI and HPC infrastructure, positioning itself as a key player in the AI super cycle [3][4][11] Company Developments - HIVE's acquisition of land in Grand Falls is part of its strategic expansion to establish its first Tier III+ AI and HPC data center in Atlantic Canada, enhancing the region's clean-energy ecosystem [5][6] - The Grand Falls facility currently supports 70 MW of Bitcoin mining and has the potential to scale its HPC capacity significantly, with plans to support over 30,000 GPUs [6][12] - HIVE's dual-engine strategy combines Bitcoin mining and AI cloud computing, allowing the company to generate cash flow while investing in HPC infrastructure [11][15] Industry Context - The AI super cycle is driven by advancements in generative AI and machine learning, creating a surge in demand for high-density, liquid-cooled data centers [3][4] - Traditional data centers are struggling to meet the increasing computational power requirements, highlighting the necessity for advanced HPC facilities [3] - HIVE's focus on sustainable energy solutions positions it favorably within the industry, as companies seek environmentally responsible infrastructure to support their AI initiatives [4][21]

Core Insights - HIVE Digital Technologies has achieved a bitcoin mining capacity of 23 exahashes per second (EH/s) and aims to reach 25 EH/s by the end of the month, marking a 283% growth this year [1][2] Mining Capacity and Infrastructure - The increase in mining capacity is attributed to the full deployment of hardware at its 100 megawatt (MW) hydroelectric campus in Paraguay, powered by the Itaipú Dam [2] - HIVE reached a mining capacity of 10 EH/s in May [2] Transition to AI Computing - HIVE is converting parts of its bitcoin mining operations into liquid-cooled, AI-ready data centers, with a recent land acquisition in Grand Falls, New Brunswick, capable of supporting 25,000 GPUs [3] - The company is transitioning its facilities to high-performance computing (HPC) standards to cater to businesses requiring constant uptime, such as AI cloud platforms and financial services [4] Future Projections - Additional facilities in Toronto and Sweden are expected to increase the company's projected GPU total to 36,000 by the end of 2026, up from approximately 5,000 today [4] - The company is positioning itself to leverage its renewable-powered facilities for a cost and speed advantage as demand for compute-intensive AI workloads grows [4] Financial Position - HIVE currently holds around 2,201 BTC in its treasury, ranking as the 34th-largest digital asset treasury firm according to Bitcointreasuries data [5] Market Reaction - The company's shares fell by 2.9% in pre-market trading on Monday [6]

Core Viewpoint - Terra Wolf's stock reached an all-time high following the announcement of preliminary earnings and a significant joint venture with Fluid Stack, indicating a strategic shift towards AI computing alongside traditional Bitcoin mining [1][4]. Company Developments - Terra Wolf reported preliminary earnings numbers for the upcoming quarter, contributing to a surge in stock price [1]. - The company announced a 25-year AI compute deal with Fluid Stack, which could potentially increase its annual revenue to over $380 million, significantly more than its current trailing sales of approximately $144 million [4][5]. - The partnership with Google, which holds about 14% of Terra Wolf through warrants, adds credibility and support to the company's business model [3][6]. Industry Trends - There is a notable trend of companies transitioning from Bitcoin mining to AI computing, with Terra Wolf being part of this shift alongside others like Applied Digital and CleanSpark [2][7]. - The integration of AI computing capabilities into traditional Bitcoin mining facilities is becoming common, as companies seek to optimize idle resources for cloud computing and data center needs [4][8]. Financial Insights - Prior to the announcement, sales estimates for Terra Wolf were around $200 million for the current year and $434 million for the next year, which are expected to rise significantly due to the new deal [5]. - The market capitalization of Terra Wolf is approximately $5.6 billion, which is relatively small compared to larger tech companies, indicating potential for growth in the AI infrastructure space [8]. Market Dynamics - The stock experienced an 18% rally, reflecting strong market momentum, which may also be influenced by a high short interest of about 25% of the free float [10].