Bitcoin Miner Prusak Exits American Bitcoin for Power Infrastructure Play
Matt Prusak, former president and interim chief financial officer of American Bitcoin (ABTC), has left the company to join Giga Energy as chief business officer and interim CFO. His departure is effective August 4.
In an email, Prusak stated that he was shifting from building bitcoin businesses 'upstream' to power infrastructure due to its constraining impact on both mining and AI compute.
The move reflects a broader trend among bitcoin miners who are pivoting towards artificial intelligence infrastructure as they diversify revenue streams beyond cryptocurrency production. This shift is driven by hyperscalers securing electricity and capacity, allowing mining companies to tap into the growing demand for AI compute and capitalize on higher valuations of AI infrastructure businesses.