CoinShares Report: Bitcoin Mines in Energy-Secure Regions May Shift to Artificial Intelligence

ChainCatcher news, CoinShares updates its Bitcoin mining report, which states that the average production cost per Bitcoin for listed mining companies is now around $53,000.

Miners at its energy security sites are increasingly turning to artificial intelligence, with companies like has and Hut 8 reporting 3.6% and 2.9% of their revenue coming from AI, respectively, while others are also developing AI projects. In these energy security areas, there is a growing preference for AI over Bitcoin mining. Therefore, in the future, Bitcoin mining may primarily be based on energy-unsafe stranded energy sites, especially where it can financially subsidize such energy projects. Conversely, miners seeking revenue diversification and potentially higher profit margins may invest in AI, exacerbating this divide.

According to its model predictions, the hash rate will rise to 700 Exahash by 2025, and the hash price will be halved to $53 per ph per day after 2024.