Конкуренция за дешёвую энергию: как ИИ и майнинг биткоина привлекают институциональные инвестиции Competition for Cheap Energy: How AI and Bitcoin Mining Attract Institutional Investments

Miners and AI data centers are increasingly competing for access to inexpensive energy, which could spark a new wave of institutional investments in Bitcoin mining. This is highlighted in a report by GoMining Institutional.

AI data centers hold considerable financial resources and have started offering higher prices for energy infrastructure, thereby marginalizing miners.

Nevertheless, miners possess an advantage — flexibility. They can install their equipment in remote locations without the need for high-speed internet, unlike AI companies, as stated by Jeremy Dreyer, the managing director of GoMining Institutional.

He predicts that within the next 5 to 10 years, the competition for energy resources will lead to a new influx of institutional investments in Bitcoin mining. According to him, after spot ETFs, the next step for large capital will be cryptocurrency mining.

Institutional investors and corporate treasuries are seeking ways to add digital gold to their balance sheets at prices lower than the market rate. They are increasingly considering the option of mining «virgin» coins that have yet to circulate.

According to TheMinerMag, the average cost of mining one Bitcoin in the first quarter of 2025 was around $64,000. By the end of the year, this figure may exceed $70,000, approximately 70% lower than the current asset price of around $119,000.

Some mining companies are already diversifying their businesses to capitalize on this trend. For instance, Riot Platforms has paused its expansion in Texas to explore opportunities in the AI sector.

IREN (formerly known as Iris Energy) has also announced a strategic shift towards a cloud AI business, as reported by GoMining.

Dreyer anticipates that many public miners who have switched to AI may return to Bitcoin mining once they witness the influx of institutional capital into the sector.

It’s worth noting that the mining company TeraWulf has signed a 10-year contract with the cloud AI platform Fluidstack. With support from Google, the miner will provide about 250 MW for a total of $3.7 billion.