Key Takeaways
- Bitcoin miners may earn $13.9B annually by shifting 20% of energy to AI and HPC.
- AI companies offer capital for infrastructure expansion, benefiting miners.
- Core Scientific and Hive Digital have already integrated AI and HPC services.
Bitcoin miners could potentially earn $13.9 billion annually by 2027 if they redirect 20% of their energy to artificial intelligence (AI) and high-performance computing (HPC) sectors, according to a recent VanEck report.
This shift could help miners improve struggling balance sheets often burdened by high debt and executive compensation.
VanEck, highlighting the profitability of such a move, emphasized:
AI companies need energy, and Bitcoin miners have it.
Several Bitcoin mining firms have already integrated HPC services, such as Core Scientific, which secured a 12-year contract with AI company CoreWeave to supply 200 megawatts of infrastructure, generating over $3.5 billion in revenue.
Canadian miner Hive Digital Technologies has also expanded its facilities to offer services to industries like gaming and AI.
VanEck noted that AI companies typically provide the necessary capital for infrastructure expansion, making these collaborations financially attractive for miners.
The report arrives in a challenging year for miners, with April’s Bitcoin halving slashing rewards from 6.25 BTC to 3.125 BTC. Firms like Marathon Digital reported a 9% revenue drop in the second quarter, amid rising mining costs.
