Bitcoin miners generate $13.9 billion in annual revenue by allocating energy to the AI-HPC sector

Bitcoin mining companies could save about $13.9 billion (roughly $2.2 trillion) a year by allocating some of their energy capacity to the artificial intelligence (AI) and high-performance computing (HPC) sectors.
The investment firm VanEck said in a report on the 16th that "AI companies need energy, and Bitcoin My is a big player in the market."
"If bitcoin mining companies were to shift 20% of their energy capacity to their AI and HPC divisions, they could save $100,000 a year over 13 years," the company said.
The company estimated that it could earn an average of more than $13.9 billion in additional revenue. The comments were made by investment firm Kerrisdale Capital.
Sam Kerrisdale Capital's chief investment officer recently criticized the bitcoin mining industry as an "industry that makes empty promises."
"Bitcoin mining companies are not a viable business model in their current form and as a result are being intentionally diluted," Adrangi said. "They issue shares and
"They put their equity into the business, but they don't get any revenue," VanEck said. VanEck said the biggest reason bitcoin mining companies are signing these deals is because AI companies are largely focused on capital expenditures.
Core, the fourth-largest mining company by bitcoin hash rate, said it was willing to provide the necessary financial resources.
Scientific recently signed a 12-year contract with AI hyperscaler CoreWeave to build a 200 megawatt infrastructure.
The company is expected to generate more than $3.5 billion in revenue from the cryptocurrency, while Canadian miner Hive Digital is expected to
Technologies said in its fourth-quarter 2023 report that it will expand its facilities to provide HPC services to companies in the gaming, artificial intelligence and graphics rendering industries.
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