CoinShares Report: Bitcoin Mining Farms in Energy Security Regions May Turn to Artificial Intelligence

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

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

Its model predicts that the hash rate will rise to 700 Exahash by 2025 and the hash price will halve to $53/ph daily after 2024.