Previously hoarding Bitcoin, now hoarding GPUs! Mining companies are secretly changing their fate

There is an old saying in the crypto world: "Bull markets rely on faith, bear markets rely on electricity costs." Now mining companies have discovered they can also rely on AI.
More and more mining companies are aggressively purchasing GPUs, even willing to sell old mining rigs. Because compared to the profits after Bitcoin halving, AI computing power leasing is more stable.
In the past, mining farms were like "digital printing presses," now they are more like "AI power plants."
Why can mining companies quickly transform? The reason is very practical: they are the world's most knowledgeable about "high-energy-consuming computing power." When others saw liquid cooling systems for the first time, mining bosses had already played with them ten years ago.
Thus, a large-scale magical realism show begins. The miners who once shouted every day that "Bitcoin changes finance" now study large model parameters every day.
Even more exaggerated, some mining companies are no longer satisfied with just running data centers; they are preparing to directly enter the AI cloud service market. Previously selling computing power to the BTC network, now selling computing power to AI startups.
The capital market is naturally most excited. Because the story of "mining companies + AIDC" almost perfectly hits two hot topics: AI and crypto.
Many investors are even re-evaluating mining companies. In the past, they were cyclical stocks; now the market wants to package them as "AI infrastructure companies."
But reality is not that simple. The AI industry is extremely competitive, with major companies aggressively building data centers. Mining companies have electricity, but not necessarily technical advantages.
More critically, GPU procurement costs are outrageously high. The price of a high-end graphics card is enough to buy a bunch of mining rigs.
However, the market never cares about short-term profits; it only cares whether the story is big enough.
And the "mining companies transforming into AI computing power empires" is obviously one of the hottest new stories of 2026. #加密矿企加速布局AIDC