AI Data Centers Are Outbidding Bitcoin Miners for Cheap Power

Ben Graham · 4 horas atrás

Bitcoin miners are losing access to the cheapest electricity as AI data centers aggressively secure long-term power contracts. That pressure is evident in the market, where Bitcoin has struggled to maintain recent highs as miner costs rise. Zoom out, and this fits a bigger trend: AI is reshaping energy markets faster than grids can adapt.

Why are Bitcoin miners suddenly competing with AI?

Bitcoin mining is the process of using specialized computers to secure the network and earn new coins. Think of miners as digital factories that turn electricity into Bitcoin. Electricity already makes up more than 80% of a miner’s day-to-day costs

AI data centers now want the same power, but they pay much more for it. Industry estimates show AI workloads generate about $25 per kilowatt-hour, while Bitcoin mining earns closer to $1. Utilities follow the money. When a power company chooses between a flexible Bitcoin miner and a 24/7 AI customer, the decision is simple.

Reality of Bitcoin Mining Today

A miner shared his current results: running 27 ASIC devices, his monthly revenue is about $4,800 (~0.053 $BTC). After electricity and hosting costs, net profit is just over $1,000.

Over 3.5 years, mining delivered returns comparable to simply… pic.twitter.com/rlGhPzofPk

— MonkeyPuppet (@MonkeyPupp) January 12, 2026

This is why grid operators increasingly ignore Bitcoin’s ability to shut off during peak demand. That flexibility helped stabilize grids in places like Texas during heat waves and winter storms. AI servers cannot switch off. They need constant power.

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What does this mean for Bitcoin investors?

When miners pay more for electricity, their profit margins shrink. Some miners respond by selling Bitcoin to cover costs. That selling pressure can weigh on price, especially during quiet market periods.

(Source: BTCUSD / TradingView)

We already see the shift on the ground. In Texas, large-load power requests surged to 226 gigawatts in 2025, nearly four times the previous year. About 73% came from AI data centers, not miners.

Some mining firms now pivot entirely. Galaxy Digital, CleanSpark, and IREN convert mining sites into AI facilities. Bitfarms plans to exit mining by 2027. For investors, that signals how tight the power market has become.

Why flexible power used to be Bitcoin’s secret weapon

(Source: 46% of the world’s data centers are in the United States / Satista)

Bitcoin miners thrive on surplus energy. Picture a power plant built to handle summer air conditioning demand. In winter, that extra electricity goes unused. Miners step in as buyers of last resort.

In 2023 alone, miners voluntarily curtailed 888 gigawatt-hours of power when grids needed relief. That ability made them attractive partners. But AI changes the math. Data centers sign firm contracts and outbid miners for the same electrons.

This directly affects Bitcoin mining operations and feeds into rising Bitcoin halving pressure, where rewards shrink while costs climb.

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The risk most beginners miss

Higher energy costs do not break Bitcoin. The network adjusts through mining difficulty. But that adjustment can be painful. Smaller miners shut down first. Hashrate consolidates among larger players with better contracts.

That concentration risk matters. It affects decentralization and long-term network health. This is not a reason to panic. It is a reason to understand mining economics before betting on miner stocks or hype-driven narratives.

Looking ahead, Bitcoin survives where power stays flexible, surplus, or stranded. AI wins where electricity must run nonstop. Investors should watch energy policy as closely as price charts.

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