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Dem Senate hopeful pivots on data centers as rising power costs collide with campaign. Despite having once applauded the growth of data centers during his tenure as North Carolina governor, Democratic Senate nominee Roy Cooper is now pitching voters with ways to reel in their expansion as he wages a bid for U.S. Senate. He has framed his stance as a part of his "make stuff cost less" campaign. "We need to make sure data centers pay for their own power and we need to encourage them to build their own energy sources because right now that's causing rates to go up for consumers and we can't have that," Cooper said in an interview with local media. Cooper's shift in position makes him the latest Democrat to fold the data center issue into affordability concerns - efforts to position themselves as the champions of bringing costs down by getting companies to shoulder the brunt of their utility usage. Notably, the bulk of North Carolina's tax breaks already existed by the time Cooper came into office as governor in 2017. The year before, in 2016, the state had implemented statute G.S.105-164.13. Under that provision, lawmakers had expanded data center tax exemptions on taxes for sales, servers, storage and networking. To qualify, companies would have to invest at least $75 million in projects over five years. According to research from CBRE, a commercial real estate firm, the investments have paid off, bringing a 15x jump in data center construction that largely began to spur growth during Cooper's term as governor. "Several trends are influencing the data center industry, including emerging markets for development due to tax incentives, advancements in renewable energy, power availability and a need for accelerated construction completion timelines," the group said in its report. In one especially notable case, Cooper's administration went further. Unlike most companies that qualified for the state's general tax breaks, Apple received more incentives from North Carolina in 2019 in the form of a Job Development Investment Grant (JDIG). The grant aimed to further the company's data center development in Maiden, North Carolina, according to the tech giant's 2019 annual report. Through the JDIG agreement, the company secured an $845 million grant over a period of 39 years alongside another $112.4 million that would go to an industrial development fund to build out rural infrastructure. "Innovation has long been North Carolina's calling card and Apple's decision to build this new campus in the Research Triangle showcases the importance of our state's favorable business climate, world-class universities, our tech-ready workforce, and the welcoming and diverse communities that make so many people want to call North Carolina home," Cooper said. "This announcement will benefit communities across our state, and we are proud to work together to continue to grow our economy and bring transformational industries and good-paying jobs to North Carolina." Also during Cooper's time as governor, companies like Meta, Corvid Technologies, GIGA, Microsoft, Segra and Google all either completed projects or announced new data center expansion in North Carolina. State reporting found that between 2015 and 2025, 37 companies had secured state tax exemptions. Like Apple, Corvid Technologies also received a JDIG: a $9 million reimbursement from the state spread over 12 years that would facilitate the construction of two, three-story data centers, according to a press release. The company also was set to partner with local groups like Duke Energy, a utility company. Cooper praised that development, although he didn't mention the data centers themselves. "North Carolina is the perfect choice for Corvid, thanks to our world-class universities, major military installations, and highly skilled workers," Gov. Cooper said. "I'm pleased Corvid decided to keep growing right here by bringing more, good-paying engineering jobs and its headquarters to Mooresville," Cooper said. A few years later, developments like the one with Corvid have flipped on their heads as figures like Cooper's successor, Gov. Josh Stein, have pointed to data centers as a driver of rising utility costs through providers like Duke. "Duke Energy's proposed rate hike is simply too high and comes as the company is also retreating on more affordable clean energy. At a time when families are struggling to make ends meet, we should be doing everything we can to make life more affordable, not less," Stein said at a press conference earlier this year. "I will continue to fight on behalf of every North Carolinian to lower costs and grow the economy." Cooper has also joined those calls, touting his work in pushing back against rising utility pricing. "As Governor and Attorney General, I put aside party politics to fight utility cost increases for North Carolinians. I vetoed a Senate bill that prioritized higher profits for utility companies over more cost-effective energy solutions. And I battled Duke Energy in court to get their profit margin lowered," Cooper said in a press release last month. Notably, Cooper hasn't called for an outright ban on data centers, but has strongly advocated that they be required to pay more directly for their energy consumption. "The companies that build these data centers must pull their own weight, pay for the power they use and completely remove this burden from North Carolina families and small businesses. We must encourage companies that build data centers to also build their own power sources, which will help reduce utility costs for consumers," Cooper added. Asked about his shifting rhetoric around data centers, the Cooper campaign stressed that he believes local communities should set the bar for how they want to approach data center expansion restrictions. "Roy believes local communities must have the final say on new projects coming to their area which includes local moratoriums, and data centers must pay for all of the energy they use without passing on any of their costs to consumers. Longtime utility company lobbyist Michael Whatley believes people's concerns about data centers are fake as he continues to shill for his billionaire buddies in the utility industry instead of standing up against rate hikes that are crushing hardworking families," a spokesperson for the campaign said in a statement to Fox News Digital. Having cleared his primary, Cooper heads to the state's general election on Nov. 3. Latest Political News on Fox News

American Bitcoin names Paul Sacks Interim CFO following matt Prusak's exit. American Bitcoin reported record Q2 Bitcoin production and $67 million in revenue while appointing Paul Sacks as Interim CFO. Published by Key Highlights * American Bitcoin reported $67 million in Q2 revenue and mined a record 932 BTC, up 14% quarter-over-quarter. * As Bitcoin treasury holdings reach 8,002 BTC, Paul Sacks has been appointed Interim CFO, effective August 4. * Matthew Prusak resigned as President and Interim CFO, while the President role remains vacant. The Eric Trump-led American Bitcoin has announced a major leadership transition while reporting second quarter results with record Bitcoin production. It has appointed Paul Sacks as Interim Chief Financial Officer (CFO) following the resignation of President and Interim CFO Matthew Prusak. The announcement coincides with American Bitcoin's second-quarter earnings. It has reported continued growth in its Bitcoin mining operations and treasury strategy despite softer-than-expected revenue. Who is American Bitcoin's new CFO Paul Sacks. The executive reshuffle was disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC). The board of directors approved Sacks' appointment on July 31. Sacks will continue serving as Head of Derivatives, alongside his role of American Bitcoin'sCFO. The appointment is significant as Sacks recently joined American Bitcoin in May 2026 after serving as Co-Head of Digital Exotics at BlockFills, where he focused on institutional digital asset derivatives. Prior to that, he co-founded Digital Gamma, a firm specializing in cryptocurrency derivatives and risk management. The company also entered into a standard indemnification agreement with Sacks, similar to those signed by its other executive officers. The move comes after American Bitcoin's Matthew Prusak resigned from his dual roles as President and Interim Chief Financial Officer, effective August 4. According to the SEC filing, Prusak's departure was voluntary and not the result of any disagreement with the company regarding its operations, accounting practices, financial reporting, or corporate policies. In his Linkedin post, Matthew announced that he is joining Giga Energy as Chief Business Officer and Interim CFO. While American Bitcoin moved swiftly to appoint Sacks as Interim CFO, the company has not named a replacement for the President position, leaving the role vacant. American Bitcoin reports record Bitcoin production in Q2. The executive transition comes at an important stage for American Bitcoin. The Trump brothers-led company is expanding both its mining operations and Bitcoin treasury strategy. In its Q2 2026, American Bitcoin generated $67 million in revenue even though it missed analysts' consensus estimate of $73.8 million. Despite the revenue miss, the company delivered strong operational performance. As per its official release, during the quarter, American Bitcoin mined a record 932 BTC, marking a 14% increase quarter-over-quarter. It also expanded its corporate Bitcoin treasury to 8,002 BTC by the end of June. Q2 2026 was $ABTC highest quarterly Bitcoin production on record. "Despite Bitcoin headwinds in Q2, CoinGape stayed focused on what CoinGape can control: CoinGape delivered its highest quarterly production on record, grew its strategic reserve to over 8,000 Bitcoin, and strengthened the... pic.twitter.com/050e1UyK7r - American Bitcoin (@ABTC) August 3, 2026 Other Articles... 18 hours ago Coinbase-Circle Partnership to Renew on Same Terms, CFO Alesia Haas Says Read now 1 day ago Public or Private Blockchains: Where Is Wall Street Building? Read now. Despite missing revenue estimates as per a CoinGape report, management remained confident in its long-term strategy. CEO Mike Ho said in the earnings calls that "production, not price, drove our growth this quarter". He emphasized that record Bitcoin output, rather than favorable market conditions, fueled the company's performance. Ho also reiterated the firm's commitment to its Bitcoin treasury strategy, noting that "we did not sell a single Bitcoin from our balance sheet reserve". This is similar to Strategy, whose Executive Chairman Michael Saylor recently clarified that the company would remain a net buyer of BTC despite speculation around a potential $5 billion Bitcoin sale. Ho also highlighted growing competition from artificial intelligence infrastructure, saying that "since the ChatGPT moment, we've seen a flurry of new developers coming in to source the same power". This comes as AI data centers are now increasingly competing with Bitcoin miners for electricity and suitable sites. Both Eric Trump and Mike Ho reiterated American Bitcoin's focus on scaling mining infrastructure. It now eyes improving operational efficiency, and strengthening its balance sheet through disciplined capital allocation. Thus, with more than 8,000 BTC on its balance sheet and record quarterly Bitcoin production, the company is focusing on scaling operations while strengthening its financial leadership. Investors will now be watching for the appointment of a permanent CFO and a new President as American Bitcoin pursues its next phase of growth. Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to its readers. Its journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following its Editorial Policy , its writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. CoinGape also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, CoinGape cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses. Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over its editorial content. Something big to share? Your crypto brief. Delivered every week. * Insights that move markets * Trusted by top investors and builders * Stay ahead every week. Want CoinGape to cover your story? Sneha Agrawal With over four years of experience in covering and tracking the financial markets, Sneha Agrawal is a dedicated Crypto Journalist and Editor with passion for researching and writing the crypto pieces. She is currently leading the Block of Fame, here at CoinGape. She likes to keep track of political, legal and financial happenings all around the world - without which she deems her day incomplete. Apart from her Journalistic endeavours, she is a solo traveler, museum goer, and a keen reader of books.