POST-SOFTWARE CYCLE RESEARCH
Zhan Capital researches and invests at the intersection of sovereign AI infrastructure, energy systems, and digital monetary networks. The next decade of value is built in concrete, steel, and silicon.
Nation-states and large enterprises are building compute capacity independent of hyperscaler dependencies. We model hashprice dynamics, power density economics, and the rare earth supply chains that determine who controls the physical stack.
AI and Bitcoin mining are the first industrial loads to bid transparently on marginal electricity. We track nuclear restart economics, grid interconnection queues, and the capital flows reshaping baseload generation.
Bitcoin's proof-of-work mechanism is a direct claim on physical energy — the first monetary asset denominated in thermodynamics. We analyze miner economics, hashprice cycles, and the structural shift toward energy-backed settlement.
If you are allocating capital to infrastructure, energy, or digital monetary networks and want to compare notes, reach out.
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