PANews reported on March 28th that, according to CoinDesk, publicly traded Bitcoin mining companies are losing approximately $19,000 for every Bitcoin mined, and are therefore rapidly shifting towards AI and high-performance computing infrastructure. A CoinShares report shows that the public mining sector has announced over $70 billion in AI and high-performance computing contracts. CoreWeave's expanded partnership with Core Scientific alone is worth $10.2 billion over 12 years. TeraWulf's high-performance computing contract revenue reached $12.8 billion. Hut 8 signed a $7 billion, 15-year AI infrastructure lease agreement for its River Bend campus. Cipher Digital reached a multi-billion dollar agreement with Google-backed Fluidstack.

By the end of 2026, AI may account for as much as 70% of the revenue of listed mining companies, compared to about 30% currently. Core Scientific's AI hosting revenue already accounts for 39% of its total revenue. TeraWulf's figure is 27%, and IREN's is 9%.