Bitcoin Miners Turn to AI Data Centers as Core Business Profitability Slumps

Forecast Trend Report by Period

U.S. Bitcoin miners are rapidly shifting into artificial intelligence and high-performance computing data centers as falling Bitcoin prices and tougher mining economics erode profitability, while demand from AI companies for data centers and power surges.

Bitcoin has recently traded around $63,000 to $65,000, about half the record high near $125,000 reached last year. Even if miners produce the same amount of Bitcoin, their revenue inevitably declines.

Shrinking mining rewards are adding to the pressure. Following the halving in April 2024, the reward for mining a block fell to 3.125 Bitcoin from 6.25 Bitcoin. At the same time, network mining difficulty, which reflects the computing race among miners, remains elevated at about 127 trillion. Miners are spending more computing power and electricity while earning less Bitcoin.