Bitcoin Miners Transition to AI Infrastructure Amid Rising Costs

Public Bitcoin miners are increasingly moving towards AI infrastructure as the weighted average cash mining costs have surged to approximately $80,000 per BTC. According to NS3.AI, this figure is roughly $19,000 above the current spot prices, which range between $68,000 and $70,000. Signed contracts for AI and high-performance computing (HPC) have surpassed $70 billion, indicating a significant shift in focus. By the end of 2026, AI revenue could constitute up to 70% of total revenue for some miners, reflecting the growing importance of AI in their operations.