The AI computing power market is far from cooling down. According to investment banking professionals, as miners increasingly turn to high-performance computing (HPC) infrastructure, the competition for scarce electricity resources is becoming more intense. This shift reflects a phenomenon: as traditional mining profits come under pressure, capital is flooding into computing power outsourcing and AI training tracks. Energy bottlenecks have become a key constraint—whoever controls cheap and stable electricity supply will hold the discourse power in the next phase. From mining pools to chip manufacturers, the entire ecosystem is being reshuffled. This not only changes the mining landscape but may also reshape the competitive landscape of the high-performance computing industry.