AI companies compete for energy assets to power data centers, impacting Bitcoin miners.

AI companies are competing with Bitcoin miners for energy assets to power their rapidly expanding data centers. As data centers drive the fastest US power demand growth since the millennium, this electricity scramble impacts the cryptocurrency mining industry, with some miners profiting by leasing power-connected infrastructure to tech companies, while others lose access. By 2027, 20% of Bitcoin miner power capacity is expected to shift to AI, creating a tight race for available energy assets.

August 28, 2024
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