[VanEck: Bitcoin miners may shift from 20% to $13.9 billion per year in artificial intelligence and HPC]
According to a VanEck report, if Bitcoin miners partially shift to providing energy for the artificial intelligence (AI) and high-performance computing (HPC) industries by 2027, they could generate an additional $13.9 billion in annual revenue. VanEck noted that AI companies need energy, and Bitcoin miners have those resources. Due to the generally poor financial situation of Bitcoin miners, this transition may become an important opportunity.
The report estimates that if Bitcoin mining companies redirect 20% of their energy capacity to the AI and HPC industry by 2027, total additional profits could average more than $13.9 billion per year over the next 13 years. The report comes after Kerrisdale Capital criticized Bitcoin mining as an "industry for snake oil sellers," arguing that the current Bitcoin mining model is unviable.
VanEck also noted that AI companies are often willing to provide capital expenditures, making it more attractive for miners to enter such contracts. Recently, Core Scientific, the Bitcoin mining company with the fourth largest computing power, signed a 12-year contract with AI company CoreWeave, which is expected to generate more than $3.5 billion in revenue by providing 200 megawatts of infrastructure. Additionally, Canadian mining company Hive Digital Technologies is expanding its facilities to provide HPC services to the gaming, AI, and graphics rendering industries.
