SpaceX proposes a $24 billion Texas supercomputer worth 17 times its bitcoin pile

Markets SpaceX proposes a $24 billion Texas supercomputer worth 17 times its bitcoin pile The $24 billion project, which includes an AI supercomputer in Texas with its own gas-fired power plant, is about 17 times the value of SpaceX's bitcoin holdings. By Omkar Godbole Nov 9, 2026, 1:54 a.m. EST 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Enlarge image Summary Show SpaceX is planning a $24 billion supercomputing facility and natural gas power plant in Starbase, Texas. The company is seeking a property tax break for the project, with a public hearing scheduled for Dec. 9. SpaceX, a bitcoin-holding company that went public in June in the largest IPO in history, wants to build and power its own supercomputer in Texas. The company is planning a $24 billion project at Starbase, a Texas city in Cameron County built around SpaceX’s main rocket factory and launch site. The project would include a natural gas power plant and a data center that the City Notice calls a “super-compute facility.” For crypto readers, the scale is the point. The $24 billion project is roughly 17 times the value of SpaceX’s bitcoin holdings. As of this writing, the company held 18,712 bitcoin, worth about $1.39 billion, according to Bitcointreasuries.net. The proposed plant would reportedly run on 35 turbines and produce 748 megawatts of power. That is a sharp contrast to most AI data centers, which plug into the local power grid. “SpaceX proposes to construct, own, and operate a gas-fired power plant and super-compute facility,” the City Notice says. That puts it alongside Anthropic, which recently agreed to buy 1.7 gigawatts of gas-fired generators for $3.4 billion. A gigawatt is 1,000 megawatts. The notice does not say why SpaceX wants its own plant. “The AI boom is becoming a gas story,” Global Commodity Trader Index, a benchmark for institutional commodity trading firms, said on X . “Tech companies are no longer willing to wait for utilities to deliver power. They're going directly to the source, securing generation capacity and scarce equipment. For gas producers, turbine manufacturers and pipeline operators, data centres are emerging as a major new source of long-term demand.” SpaceX’s push into AI is recent. In February, Elon Musk merged his AI company, xAI, into SpaceX in a stock swap that valued the combined firm at about $1.25 trillion. The City of Starbase is also being asked to give SpaceX a tax break and the city commission is slated to hold a public hearing on the same on Dec. 9. The requested property tax abatement would cut SpaceX’s property taxes and allow the company use the Cameron County Enterprise Zone for the project. Still, the road may not be smooth for Musk. Democrat Gina Hinojosa won Texas’ governor’s race on Nov. 3, ousting Republican incumbent Greg Abbott. She campaigned against AI data centers and accused Abbott of letting the energy-hungry facilities multiply. Abbott had already ordered a pause on Aug. 3, so no more data centers can move through the state grid operator’s connection process until regulators finish an audit. The statewide audit covers on-site power generation, including a regulatory review of how these facilities affect local water and communities regardless of where their energy source is located. It remains to be seen whether SpaceX’s own plant will let it sidestep the regulatory hurdle. Newsletters Crypto Daybook Americas - The latest moves in crypto markets, in context Market analysis for crypto traders and investors. Preview Sign up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . SpaceX Latest Crypto News 1 Solana moves to scrap the transaction feature used in the $270 million Drift hack 25 minutes ago 2 Two rival Ethereum proposals aim to stop Glamsterdam breaking old contracts 1 hour ago 3 Binance's bitcoin mining pool finds just one block in a week as shutdown nears 2 hours ago 4 Bitcoin drops, then pops as Nvidia cheating scandal and failed Iran talks trigger volatility 3 hours ago 5 What the election results mean for crypto: State of Crypto 11 hours ago 6 Stablecoin growth has stalled. The payments boom hasn't 11 hours ago 7 These Finland homes get free heat from bitcoin miners (as long as BTC stays above $70,000) 18 hours ago 8 Binance users in some European countries told to pull crypto before fees kick in, with accounts closing by year end 1 day ago 9 U.S. Treasury moves to cut off crypto exchange MEXC over $16 billion in alleged illicit flows 1 day ago 10 Gnosis Pay breach exposes card numbers, home addresses and linked crypto wallets 1 day ago Latest Research Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years. By CoinDesk Research Sep 24, 2026 Commissioned by RealFi Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years. Why it matters : Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years. View Full Report More From Markets Bitcoin drops, then pops as Nvidia cheating scandal and failed Iran talks trigger volatility These Finland homes get free heat from bitcoin miners (as long as BTC stays above $70,000) The crypto industry has found new ways to grow. Making money from them is another story