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Event File CRYPTO AI Data Centers Bitcoin Mining

Bernstein Says Bitcoin Miners Are Key to Easing AI Power Crunch

1 reports · First detected 2026-07-23 · Last active 2026-07-23

Artificial-intelligence developers are running into a constraint that money and GPUs alone cannot quickly solve: access to grid-connected power and ready data-center sites. Bernstein says Bitcoin miners have become strategic infrastructure partners because they already control large energy portfolios, land and operating facilities built for power-intensive computing. Repurposing that capacity for AI can shorten deployment timelines while giving miners more predictable, contracted revenue than the volatile economics of producing Bitcoin.

In a July 23 research note, Bernstein maintained an overweight view on Bitcoin mining, saying its deal tracker recorded an AI-related agreement every week in July. Announced transactions now exceed 7.5 gigawatts and represent more than $150 billion of multi-year contract value. On July 20, Hut 8 unveiled a 15-year, $9.8 billion lease for its Texas AI campus, while IREN disclosed $2.8 billion of cloud-services contracts with AI developers, helping mining-linked shares post double-digit gains.

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1 original reports
COINTELEGRAPH.COM 2026-07-23
Bernstein says Bitcoin mining deals necessary for AI power crunch

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The history behind this event
Bernstein Says Bitcoin Miners Are Becoming Critical AI Infrastructure Suppliers2026-05-20 · 1 reports · similarity 0.88

Bitcoin miners traditionally used energy-intensive computing to maintain the blockchain, but their grid connections, land, cooling systems and data centers can be converted relatively quickly into high-performance computing facilities for AI. Bitcoin completed its fourth halving on April 20, 2024, cutting the block reward to 3.125 BTC. The resulting pressure on mining revenue has also prompted operators to seek more stable income from AI hosting.

In a May 19, 2026, report, Bernstein estimated that publicly traded Bitcoin miners control more than 27 GW of planned power capacity. The industry has announced more than $90 billion in AI agreements covering about 3.7 GW. Bernstein also assigned outperform ratings to IREN, Riot Platforms, CleanSpark and Core Scientific, underscoring how access to power has become a bottleneck for AI data-center expansion.

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