In a recent interview with CNBC, Jeff Blau, CEO of Related Companies, praised data centers as a transformative asset class in real estate.
Blau referred to them as “the most incredible asset class” of his career, highlighting their unique characteristics such as high energy demands and limited supply, which contribute to their significant value.
He emphasized that building a data center can cost between $4 billion and $5 billion, with securing adequate energy being a fundamental challenge that prevents oversupply.
Blau noted that this asset class is very unique. According to him, each of these structures can cost $4 billion to $5 billion.
He added that energy requirements are unprecedented in this industry, noting that the difficulty in securing energy creates a constraint that prevents oversupply of these facilities.
Recently, Related Companies invested in Applied Digital, a company specializing in Bitcoin mining and high-performance computing. According to Miner Mag, 83% of Applied Digital’s revenue comes from hosting Bitcoin mining operations.
The SEC has sought a four-month extension in its investigation related to Coinbase, pushing the deadline to February 2024, just after the US presidential election.
DZ Bank, Germany’s second-largest financial institution, has teamed up with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks.
Charles Hoskinson, founder of Cardano, will meet with Argentina’s President Javier Milei in October to discuss blockchain’s role in shaping future economies.
Binance has seen a sharp rise in interest from institutional and corporate investors, with a 40% increase in participation this year, according to CEO Richard Teng.