Bitcoin Miners' Surplus Power Becomes AI's Biggest Asset
Bitcoin mining facilities are experiencing a new wave of demand as companies turn to them for artificial intelligence and high-performance computing hosting.
The shift is driven by the fact that these sites have already been wired up with power-dense infrastructure, making them ideal locations for AI firms searching for data center space.
CoinShares' bitcoin mining ETF WGMI has expanded its focus to include not just miners but also AI data centers and power companies, in a move that reflects the growing importance of this sector.
The International Energy Agency predicts that global data center electricity use will roughly double by 2030, with AI being the biggest driver. In the US alone, data centers are expected to drive almost half of electricity demand growth through 2030.