Bitcoin miners are strategically adopting artificial intelligence technologies to diversify revenue streams and address challenges following Bitcoin’s halving event. Companies including Core Scientific, Hut 8, and Hive Digital Technologies spearhead this trend, while Canaan Creative maintains exclusive focus on ASIC mining hardware.
Core Scientific transitioned toward AI infrastructure hosting after emerging from bankruptcy, securing a landmark $3.5 billion agreement with cloud provider CoreWeave. This pivotal deal stabilized revenues despite declining Bitcoin mining income.
Hut 8 launched its Highrise AI initiative deploying over 1,000 Nvidia H100 GPUs, striking a balance between Bitcoin mining operations and AI ventures. The company simultaneously boosted its Bitcoin mining hashrate by 79% and preserved a substantial Bitcoin treasury.
Mid-tier operators increasingly embrace AI diversification: Iren secured dedicated AI infrastructure contracts, while Hive Digital tripled its AI and high-performance computing hosting revenue to $10.1 million, targeting $100 million by 2026.
Riot Platforms initiated partial conversion of its Texas facility for high-performance computing operations, and Marathon Digital piloted similar sites. Despite exploration efforts, both enterprises acknowledge nascent stages in AI revenue generation.
Contrasting industry momentum, Canaan Creative exited the AI-chip development sector to concentrate exclusively on Bitcoin ASIC hardware production, maintaining a 2.1% global market share while holding Bitcoin reserves.