Bitcoin Miners Transitioning to AI Face Competition for Power Resources

At the inaugural Energy Investment Forum held in Dallas, USA, attendees pointed out that the AI wave is driving large-scale energy infrastructure development. Bitcoin mining companies, leveraging years of experience in seeking low-cost electricity and building modular computing facilities, have certain advantages in the expansion of AI data centers. However, having access to power resources does not automatically mean the ability to build AI data centers. Alexander Neumüller, a researcher at the Cambridge Centre for Alternative Finance, stated that preliminary data indicates that the global annual electricity consumption for Bitcoin mining is expected to rise from 138 terawatt-hours (TWh) to approximately 190 TWh between June 2024 and December 2025. About 10% of mining companies have begun using part of their electricity for AI or high-performance computing (HPC), and over 40% of companies are exploring related transformations. In the future, the integration of mining companies with AI infrastructure may take various forms, including the construction of large AI data centers, provision of distributed computing power, continued operation of Bitcoin mining, or transitioning to become grid service providers.