AI to Boost Bitcoin Miners’ Revenue by $13.9 Billion Annually, Report Finds

Bitcoin miners could see an additional $13.9 billion in annual revenue by 2027 if they allocate 20% of their energy capacity to the AI and high-performance computing sectors, according to a report by VanEck. 

“AI companies need energy, and bitcoin miners have it,” the company noted. 

Investment firm experts pointed out that miners typically have weak balance sheets due to excessive debt, stock issuance, large executive payouts, or a combination of these factors.

However, they have access to large volumes of electricity. VanEck highlighted that suitable sites could power the GPUs responsible for AI operations in less than a year, a much quicker process than the over four years required to launch new data centers.

Earlier, experts from the Bitcoin Policy Institute noted that AI’s energy consumption likely already exceeds that of mining. AI offers 17-25 times more revenue per kWh compared to bitcoin mining—$0.17-0.2 versus $3-5.

In July, Bernstein forecasted a shift of 20% of mining capacity to AI. 

The company’s analysts also predicted a potential electricity shortage in the U.S. within two years if the growth rate of data centers for neural networks continues. 

Back in June, Core Scientific signed a 12-year contract with CoreWeave to provide infrastructure with 200 MW capacity for hosting Nvidia GPUs.

In the same month, Hut 8 raised $150 million to develop AI computing infrastructure.