Publicly traded Bitcoin miners have collectively announced AI and high-performance computing contracts estimated between $70 billion and $100 billion. Leasing power infrastructure to AI companies generates approximately $1.5 million per megawatt annually, compared to $500,000 for Bitcoin mining, a threefold premium. Core Scientific signed a $10.2 billion, 12-year contract with CoreWeave for 590 MW, while TeraWulf, IREN and Hut 8 secured deals worth $12.8 billion, $9.7 billion and $7 billion to $9.8 billion respectively. Only $1.1 billion to $1.5 billion in annualized revenue is currently being generated from leased capacity out of 4 GW contracted, representing roughly 14% utilization.
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