Top Miners Pivoting to AI

Major Bitcoin mining companies are increasingly shifting their focus and infrastructure towards AI data centers due to changing economics and rising demand for AI compute power, with analysts reporting that every major US-listed Bitcoin miner has moved toward AI or high-performance computing (HPC) initiatives.

The top 3

  1. Leading Miners in AI Shift: IREN, TeraWulf, Cipher, Core Scientific, Hut 8, and Applied Digital are among the Bitcoin miners furthest along in pivoting to AI data centers, securing tens of billions in contracted AI revenue.
  2. Largest AI Data Center Deals: TeraWulf secured a 20-year lease with Anthropic for approximately 401 megawatts, valued at about $19 billion, while IREN has a five-year, $9.7 billion contract with Microsoft, and Core Scientific has over $10 billion in contracts with CoreWeave.
  3. Expected AI Revenue Share: CoinShares expects listed miners with AI contracts to derive up to 70% of their revenue from AI by year-end 2026, a significant increase from approximately 30% at the start of the year.

Sources

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