AI may generate up to 70% of revenue for listed Bitcoin miners by 2026

March 28 — Publicly traded Bitcoin mining companies are estimated to be losing about $19,000 for every Bitcoin mined, accelerating a pivot toward AI and high-performance computing (HPC) infrastructure, CoinDesk reported. CoinShares said listed miners have collectively announced more than $70 billion in AI and HPC-related contracts. CoreWeave's expanded partnership with Core Scientific alone is valued at $10.2 billion over 12 years. TeraWulf's HPC contracts are expected to generate $12.8 billion in revenue. Hut 8 has signed a 15-year lease agreement worth $7 billion to support AI infrastructure at its River Bend campus. Cipher Digital has also reached a multibillion-dollar agreement with Fluidstack, backed by Google. By the end of 2026, AI could contribute as much as 70% of revenue for publicly listed mining companies, up from roughly 30% today. Core Scientific's AI hosting revenue already accounts for 39% of total revenue, while TeraWulf stands at 27% and IREN at 9%.