Bitcoin Miners Pivot to AI as Crypto Profits Slide
Facing slimmer margins in bitcoin mining, major miners are transforming their energy-intensive operations into AI data centers, targeting steadier revenue and higher returns.
Core Scientific’s $3.5 billion AI hosting deal exemplifies this shift. ASIC-heavy miners like Core, Hut 8 (HUT), and TeraWulf (WULF) are replacing rigs with GPU clusters to support machine learning workloads, capitalizing on existing power-dense infrastructure, advanced cooling systems, and low-cost energy contracts.
From Mining to Machine Learning
The high-energy setups once used for bitcoin mining now power AI computation efficiently. Firms like Crusoe Energy have fully pivoted, retrofitting remote, energy-rich facilities into AI hubs that serve major tech players.
The Economics
Though costly upfront, AI infrastructure generates up to 25 times more revenue per kilowatt-hour than crypto mining. With the global AI market projected to hit $436 billion by 2032, former crypto facilities are becoming central to the AI boom.
Bitcoin mining’s legacy: laying the groundwork for the next era of digital computation.
