Restrictions on new data center construction following the U.S. midterm elections could significantly raise the value of existing Bitcoin mining infrastructure, according to Benoît Pellevoizin, Managing Director of CoinShares France. Growing public resistance driven by concerns over electricity prices, water consumption, and Big Tech influence is making it harder to build new facilities, while established mining sites already hold power contracts and grid connections that bypass these obstacles. CoinShares data reveals that grid connection delays for many projects have exceeded five years, averaging more than seven years in the PJM region. Fully leased AI data centers are valued at approximately $27 million per megawatt, compared with less than $3 million per megawatt for listed miners holding energized but unleased capacity. However, converting mining facilities for AI use carries costs between $8 million and $15 million per megawatt. The valuation gap extends to equity multiples: miners with contracted AI capacity trade at an average of 12.9 times forward sales, versus just 3.7 times for those without such contracts, highlighting the market's premium on secured AI revenue streams.