AI Revenue Surges for Crypto Miners Amid Struggling Bitcoin Mining

Bitcoin mining companies are struggling to turn a profit as revenue from AI and data center hosting grows. MARA reported a net loss of $611.3 million in Q2, including $343 million in unrealized fair value losses on Bitcoin.

Core Scientific's high-density hosting revenue increased from $10.6 million last year to $136.7 million this quarter, becoming the company's primary source of revenue.

The market has seen a surge in billion-dollar contracts for AI data centers and long-term rental income is being recognized following the delivery of these facilities.