Bitcoin miners have become key partners of the AI industry: Bernstein analysts have calculated the scale of deals.
Bitcoin miners are no longer just miners of digital gold. They are now transforming into strategic infrastructure providers for data centers serving artificial intelligence. Analysts at Bernstein have conducted an in-depth analysis of this trend and concluded that mining companies have become crucial partners for the AI industry.
According to experts, the total volume of deals in this sector has already exceeded 7.5 GW of capacity. This is a colossal figure, demonstrating how rapidly the AI sector is absorbing energy-intensive resources previously reserved for mining. The total value of multi-year contracts signed between miners and AI data center operators is estimated at $150 billion.
Energy is the new gold
The key constraint for further expansion of AI infrastructure is access to electricity. This is where Bitcoin miners hold a unique position: they already own or control significant amounts of cheap and stable energy, as well as having ready-made sites with necessary cooling and grid connections. This makes them natural partners for companies building data centers to train and operate large language models.
As an analyst, I see this shift as a fundamental change in market dynamics. Previously, miners competed for energy with traditional consumers. Now, they are becoming infrastructure providers for the fastest-growing industry. This is not just business diversification — it is a transition to a model where mining and AI mutually reinforce each other. Investors who once viewed miners as a volatile asset now see them as long-term partners with guaranteed cash flows from AI contracts.
Expert insight: In my opinion, this is just the beginning. As demand for AI computing power grows exponentially, miners who manage to repurpose their capacity will become key beneficiaries. Those who remain solely focused on Bitcoin mining risk falling behind. The market is already valuing miners not by their hash rate, but by their ability to attract AI clients.