Marathon Holdings Sees Higher Returns in AI Business Than Bitcoin Mining
Marathon Holdings, a US Bitcoin miner, is finding that its artificial intelligence business is more profitable than traditional mining operations. The company's CEO, Fred Thiel, said using power for AI infrastructure generates much higher returns than Bitcoin mining.
The repeated Bitcoin halvings have reduced mining profitability, according to Thiel. He emphasized that power remains the biggest operating cost for miners and securing resources directly or building partnerships with utilities is crucial to staying competitive.
Thiel noted that while AI may not fully replace Bitcoin mining, it will remain an important way to improve power utilization in regions with cheap or surplus power. For companies like Marathon with grid interconnection rights and developable land, Bitcoin mining can be one of several options for using power resources.