U.S. technology companies are pursuing energy assets held by bitcoin miners as they race to secure a shrinking supply of electricity for their rapidly...
U.S. technology companies are pursuing energy assets held by bitcoin miners as they race to secure a shrinking supply of electricity for their rapidly expanding artificial intelligence and cloud computing data centers . Those data centers are driving the fastest U.S. power demand growth since the start of the millennium, outpacing grid expansions and leaving giant technology companies , like Amazon and Microsoft, to scavenge for vast amounts of electricity.
Analysts expect 20% of bitcoin miner power capacity to pivot to AI by the end of 2027. Over the past year, bitcoin miners and AI data center owners have increasingly vied for the same power assets and contracts, executives from over half-dozen publicly traded U.S. crypto mining companies told Reuters.
About 90% of the country's bitcoin mines can be constructed in six to 12 months, versus three years for a more sophisticated data center, Bradford said. Hyperscalers include the world's biggest technology companies that operate massive global networks of data centers and cloud infrastructure.
Data Centers Bitcoin Miner Bitcoin Mining Cloud Computing AI Company Technology Companies Cryptocurrency Mining Energy Assets Amazon
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