Nothing is ever really priced in when it comes to layered structured debt and credit default swaps. Not even the default swaps.

Go on and make millions from mispriced assets then.

I think the that they feel the need to do these off balance sheet shenanigans is the issue. They're obviously extremely worried that their credit rating is going to be downgraded otherwise, why bother?

Yeah, but how logical is that when you don't even have the electrical grid capacity to turn on all the GPUs that have already been bought?

I would think if they were mining with them before, they had the capacity at that time.

After bitcoin halfed enough, the electricity cost more for the miners.

Now with the AI boom, people are paying premium prices for low end cards, because they run AI tasks exponentially faster than CPUs do.

So the electrical load that was once centralized at the mining site, gets distributed.

Being able to schedule your AI agents to work during off peak electrical prices, and sleep during peak pricing, seems to be a stablizing factor for the grid.

Im talking about the used video card market.

Not the billion dollar data center market.

Prices are up 35% in the last 3 months alone, and I just paid way too much for a RTX 5060 Ti 16GB for the ram.

I get it, I'm just saying when people point to GPU prices as some sort of proof this is all logical, it's actually the place where the logic begin to unravel the most blatantly. They have more GPUs then they will be able to plug in for at least a few years.

This is why data centers are starting to burn fossil fuels on site behind the meter for power. Including using diesel generators.

The newer data centers aren’t relying on the grid. They’re more likely to be selling excess power than buying it.

We've reached the tamagotchi stage of the bubble

Any sufficiently complex AI driven project is more hassle than it is worth. People are paying for software because they don't want to think about it. This isn't going main stream.

No way this doesn't end in a complete disaster x_X