Mining and AI Equipment Spending Hits Record $30.7 Billion

According to BlocksBridge Consulting, the past six months have seen an unprecedented investment in mining and AI equipment. Public bitcoin miners and AI infrastructure operators spent a staggering $30.7 billion on property and equipment, including capitalized internal software.

This figure represents a significant increase of 42.6% compared to the entire year of 2025, when expenditures reached $21.53 billion. The largest contributors to this surge were CoreWeave and Nebius, which invested nearly three-quarters of the total amount.

TeraWulf, Applied Digital, Core Scientific, and Cipher were among the top spenders in the mining sector, with capital expenditures totaling over $5.1 billion. Meanwhile, nine miners saw a 52% increase in revenue from HPC, AI cloud, and colocation services, reaching $205.8 million in the second quarter.

The report cautions that while these figures are impressive, they should not be used to directly assess profitability. The high capital expenditures will only start generating revenue once the assets are introduced and leased out.