Full Breakdown
Bitcoin Mining Companies Turn to AI as Crypto Rewards Decline
8/26/2026, 8:17:56 AM
Bitcoin Mining’s AI Pivot: Core Shift
Since the Ekibastuz mine opened in 2020, large-scale Bitcoin mining operations have built extensive data-centre capacity. Falling cryptocurrency rewards after the peak in October 2025 have prompted firms such as Riot Platforms, Bitdeer, TerraWulf, Ionic Digital, Core Scientific, Iris Energy, and Hut 8 to redirect that infrastructure toward artificial-intelligence (AI) and high-performance computing (HPC) workloads.
Background: From Crypto Boom to AI Demand
The surge in Bitcoin’s price to roughly $124,000 in October 2025 spurred massive investment in power-intensive mining rigs. As the price slipped and rewards shrank, analysts note that miners’ expertise in securing cheap electricity and operating massive compute farms makes them natural candidates for the AI race. Companies like Anthropic are spending billions on AI infrastructure, creating a market for long-term GPU colocation leases.
Data & Statistics: Prices and Deals
- Bitcoin’s price fell from its October 2025 peak of about $124,000 to around $80,000 in August, a rise of roughly 30 % from the recent low.
- Riot Platforms signed a $9 billion, 20-year compute agreement with Anthropic earlier this month.
- Bitdeer announced a 16-year contract to provide compute for Anthropic while maintaining Bitcoin mining activities.
Official Statements & Responses
Enegix chief executive Yerbolsyn Sarsenov said the firm is actively discussing AI and HPC partnerships and plans to convert a “significant” portion of its Kazakhstani operations to AI-focused services. Wolfie Zhao of *The Energy Mag* predicts continued winding down of Bitcoin hardware, noting that once multi-gigawatt infrastructure is retrofitted for AI, “there is no turning back.” Haris Basit, chief strategy officer of Bitdeer, argues that Bitcoin mining remains compatible with a dual-purpose model, offering flexible, interruptible power that can be supplemented by longer-duration AI contracts.
Verbatim Quotes
- “Today, we are moving confidently towards artificial intelligence and planning the gradual alignment of our energy and infrastructure capabilities, both in Kazakhstan and elsewhere, towards the development of AI infrastructure,” — the company
