CoinDesk
SpaceX is planning a $24 billion supercomputing facility and natural gas power plant in Starbase, Texas, with a public hearing on the requested property tax abatement set for Dec. 9. The city notice describes a gas-fired plant running 35 turbines and producing 748 megawatts, paired with what the filing calls a super-compute facility. The price tag is roughly 17 times the value of SpaceX's bitcoin holdings, which stand at 18,712 BTC, worth about $1.39 billion.
Why it matters
The project is the latest sign that AI buildouts have become an energy procurement story. Rather than plugging into the local grid like most data centers, SpaceX proposes to construct, own, and operate its own generation, a path Anthropic took recently when it agreed to buy 1.7 gigawatts of gas-fired generators for $3.4 billion. "The AI boom is becoming a gas story," the Global Commodity Trader Index noted on X, arguing tech companies are no longer willing to wait for utilities and that data centres are emerging as a major new source of long-term demand for gas producers, turbine makers, and pipeline operators.
The push follows Elon Musk's February merger of xAI into SpaceX, a stock swap that valued the combined firm at about $1.25 trillion, making AI infrastructure a core SpaceX business rather than a side bet.
Market impact
The regulatory path is not clear. Gina Hinojosa, who campaigned against AI data centers, won the Texas governor's race on Nov. 3, and her predecessor Greg Abbott had already ordered a pause Aug. 3 blocking new data centers from the state grid operator's connection queue pending an audit of on-site generation and its effects on local water and communities. SpaceX's own plant may sidestep the grid queue, but the statewide audit covers on-site power generation regardless of energy source.
For bitcoin watchers, the capital allocation math is stark: the company is committing 17x its BTC stack to AI compute, treating bitcoin as the balance sheet and power-hungry compute as the business.
Frequently asked questions
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Why does SpaceX want its own gas-fired power plant?
The city notice does not state the reason, but the plant would produce 748 megawatts across 35 turbines, letting the super-compute facility run without waiting on utilities while Texas regulators audit data-center grid connections.
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How much bitcoin does SpaceX hold?
SpaceX holds 18,712 BTC, worth about $1.39 billion according to Bitcointreasuries.net, making the $24 billion supercomputer project roughly 17 times the value of its bitcoin treasury.
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Where will the SpaceX supercomputer be built?
The facility is planned for Starbase, a Texas city in Cameron County built around SpaceX's main rocket factory and launch site. A public hearing on the requested property tax abatement is scheduled for Dec. 9.
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What regulatory hurdles does the project face?
Texas Governor-elect Gina Hinojosa campaigned against AI data centers, and a pause ordered Aug. 3 blocks new data centers from the grid connection queue pending a statewide audit of on-site generation and its effects on local water and communities.
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How does SpaceX's power plan compare with Anthropic's?
Anthropic recently agreed to buy 1.7 gigawatts of gas-fired generators for $3.4 billion, while SpaceX proposes to construct, own, and operate its own 748 MW plant. Both signal AI companies moving to secure generation capacity directly instead of relying on utilities.
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