Analysis: Not all Bitcoin mining firms can pivot to AI; power resources have become the core competitive advantage

PANews July 28, citing News.Bitcoin, reports that at the first Energy Investment Forum (EIF) held in Dallas, the United States, attendees said the AI wave is essentially driving a large-scale buildout of energy infrastructure rather than a pure software race. Bitcoin mining firms, backed by years of experience finding low-cost power, building modular computing infrastructure, and participating in grid regulation, have some advantages in AI data center expansion, but simply having access to electricity does not automatically mean they have the conditions to build AI data centers.

Alexander Neumüller, a researcher at the Cambridge Centre for Alternative Finance, said preliminary data show that between June 2024 and December 2025, global annual electricity consumption for Bitcoin mining rose from 138 TWh to about 190 TWh. Around 10% of mining firms have started using some power for AI or high-performance computing (HPC), and more than 40% of companies are exploring related transformations. In the future, the integration of mining firms with AI infrastructure may take multiple forms, including building large AI data centers, providing distributed computing power, continuing to operate Bitcoin mining, or pivoting to become providers of grid services.