By the End of 2026, AI May Account for 70% of Bitcoin Mining Companies' Revenue

According to CoinDesk, publicly listed Bitcoin mining companies are losing approximately $19,000 for every Bitcoin mined, prompting a rapid shift toward AI and high-performance computing infrastructure. A CoinShares report reveals that over $70 billion in AI and high-performance computing contracts have been announced in the public mining sector. For instance, the expanded collaboration agreement between CoreWeave and Core Scientific alone is valued at $10.2 billion over 12 years. TeraWulf's high-performance computing contract revenue has reached $12.8 billion. Hut 8 signed a $7 billion, 15-year AI infrastructure leasing agreement for its River Bend campus. Cipher Digital has entered into a multi-billion-dollar agreement with Google-backed Fluidstack. By the end of 2026, AI could account for as much as 70% of revenue for publicly listed mining companies, compared to the current proportion of approximately 30%. Core Scientific's AI hosting revenue already makes up 39% of its total revenue. For TeraWulf, this proportion stands at 27%. For IREN, it is 9%.