Of conventional data centers or one's running GPUs? If you're not saturating your GPUs you're likely leaving money on the table.

I don't really agree. The energy component of opex still dominates over the depreciation.

For AI data centers? Depreciation on the GPUs and AI accelerators is a bigger cost than electricity.

Now it might be that a new data center will find it more difficult to obtain a reliable supply of electricity than to obtain GPUs, but your statement was about expenses.

IIRC ERCOT estimated from their experience it was something like 85% on average?