MARA CEO Cites AI Data Centers as More Lucrative than Bitcoin Mining

MARA CEO Fred Thiel recently discussed the company's shift towards AI data centers, citing their superior power returns compared to Bitcoin mining. According to Thiel, AI compute earns more revenue per megawatt than Bitcoin mining, with costs ranging from $10-15 million for AI infrastructure versus $1 million for Bitcoin mining.

The MARA CEO attributed the easier financing of AI data centers to major tech tenants offering stable and low-risk contracts. This allows AI data centers to secure investment-grade credit ratings more easily compared to standalone mining operations.

Thiel emphasized that Bitcoin mining will continue until AI construction requires full electricity allocation, after which it may function mainly as a way to balance excess power. He also described Bitcoin primarily as a store of value rather than currency, appealing to investors seeking inflation protection during devaluation or geopolitical conflict.