“我们熟悉的 vertiv （$VRT）散热冷却是BTM面临高功率机柜所需的”
Vertiv wins from BTM buildout as high-power AI racks generated on-site require advanced thermal management
“BTM过渡期以天然气为主带动天然气中游设施，Kinder Morgan ( $KMI)、Williams Companies ( $WMB )、Energy Transfer ( $ET ) 等管道运营商，尤其在 Texas（BTM 政策友好、permitting 相对容易）等热点区域布局深厚”
Kinder Morgan benefits from BTM gas demand surge as data centers shift to on-site nat gas generation in Texas
“bloom energy $be 是首选，他们24年就喊了，固体氧化物燃料电池龙头”
Bloom Energy is the top-ranked BTM winner as the SOFC leader supplying on-site data center power
“传统大型燃气轮机，看空，建设周期长，订单可能在2026触顶那就是看空 $GEV”
GE Vernova's large gas turbine orders peak around 2026 as BTM demand shifts to faster-deploying distributed solutions
“采用BTM也要配电利好的是设备 Eaton (ETN)、Schneider Electric、ABB 在 Medium Voltage 开关设备与配电领域比较好”
Eaton wins medium voltage switchgear and power distribution demand from the BTM data center generation buildout
“那么把产业链拉开来看BTM落地带动中游设备燃气发动机和发电机供应链组 cummins（$CMI）caterpillar（$CAT）”
Cummins wins midstream equipment orders as BTM deployment drives demand for gas engines and generator sets
“$NRG 属于符合上面条件k线又不错理由（有gas资产，可以直接给数据中心配套发电，德克萨斯州布局最好，管理层支持byog，也是详细做了case study的上市公司）”
NRG Energy is the prime BYOG/ERCOT beneficiary with Texas gas assets and management backing for direct data center power deals