Are the mining bosses no longer mining BTC? They've all switched to building AI data centers, and graphics cards are more valuable than gold!

In the past, mining company bosses kept an eye on K-line charts every day, now they focus on cabinet temperatures. As AI large models burn through computing power wildly, a group of crypto mining companies suddenly realize: mining isn't profitable, but providing power and data center services to AI companies is really profitable. So, the mining farms instantly transform into AIDC (AI Data Centers), with Bitmain, power mining groups, and North American mining companies all shifting their focus.

This move is very much like a "barbecue stall owner suddenly switching to selling milk tea"—it looks crazy, but actually doubles the profit. Because mining companies naturally have three of the most needed resources for AI: electricity, cooling, and land. In the past, mining machines hummed; now they’re replaced with GPU fans whirring—at its core, it’s still a "computing power business."

The funniest part is, some veteran miners who used to shout every day about "decentralization changing the world" are now researching liquid-cooled servers and AI training frameworks. Yesterday they were discussing halving, and today they’ve already started studying NVIDIA’s H200.

The capital markets are even more eager to jump in at the scent of this. As soon as an announcement mentions "AIDC," "AI computing power," or "GPU clusters," stock prices immediately soar—even if the data center only has two servers, the market reacts with a surge.

But there’s a problem: AI computing power is extremely expensive. GPUs are ten times more costly than mining machines, electricity bills are even higher, and the payback period is longer. Mining companies are shifting from "betting on coin prices" to "betting on AI demand," but the risks haven't disappeared—they’ve just changed their appearance.

The core of this transformation isn’t just "mining companies doing AI," but the entire world entering a "computing power war." In the past, everyone fought over oil; now everyone fights over GPUs. Whoever controls electricity and data centers may reap the biggest benefits of the AI era.

So don’t laugh at mining bosses anymore. They just realized early: the next bull market might not be a coin bull, but a computing power bull.