Bitcoin Miners Bet on AI Over Cryptocurrency
Coinbase CEO Brian Armstrong claims that cryptocurrency and artificial intelligence (AI) are not rivals, but rather complementary technologies. He argues that crypto will serve as infrastructure for AI agents, which will require real-time programmable money to transact.
However, several major Bitcoin miners have made the opposite bet by redirecting their resources towards AI hosting this year. These companies include TeraWulf Inc., Hut 8 Corp., Cipher Digital Inc., and Keel Infrastructure Corp.
The market has rewarded these shifts in focus, with shares of Hut 8 up over 131% in 2026, while Keel and TeraWulf have more than doubled. Bitcoin itself is down roughly 27% this year.
A director at the Sentient Foundation notes that while evidence supports Armstrong's thesis, it remains small-scale and experimental, with the global agentic AI market valued between $9 billion to $11 billion in 2026.