US Bitcoin Mining Industry Suffers Decline Amid AI Surge
The US Bitcoin mining industry is facing a decline due to increased spending on artificial intelligence (AI). According to a recent report, publicly-listed Bitcoin mining companies are pivoting towards providing processing power for AI instead of cryptocurrency. This shift has led to a significant decrease in the use of energy for Bitcoin mining, with 18% less power being consumed compared to October 2025.
President Donald Trump's goal to lead the AI race may be working against his mission to have America dominate Bitcoin mining. The largest decline is seen among US-publicly listed companies that are turning towards deploying their energy into AI instead of crypto. Ethan Vera, chief operating officer of Luxor, a crypto mining provider, stated that this trend is expected to continue.
However, some data center providers believe that Bitcoin mining and AI processing can complement each other. Brian Morgenstern, senior vice president of Riot Platforms and a former Trump administration official, noted that AI compute facilities can use Bitcoin mining as a complement to their primary purpose. He added that there will still be a sizable chunk of Bitcoin mining in the US for years due to the time it takes to build AI facilities.