The latest disclosures made this week revealed that publicly traded miners are selling what they mine. $BTC We have secured and committed billions of dollars in contracts to serve our AI cloud customers while funding our operations as much ASIC hardware is being retired in favor of GPUs.
Bitcoin miners’ pivot to AI is no longer new, but the scale of this announcement makes it difficult to ignore.
Mining revenues are on the decline and given the current AI boom, many companies are moving towards AI infrastructure and directing their spending budgets there.
MARA invests $1.5 billion in gas plant
On April 30, MARA Holdings announced the acquisition of Long Ridge Energy & Power from FTAI Infrastructure for $1.5 billion, including $785 million of assumed debt. The deal will see MARA acquire more than 1,600 acres of industrially permitted land in Hannibal, Ohio, where it plans to build a 505 MW natural gas plant and data center campus.
“We have all the critical components to create the ideal data center campus,” said MARA CEO Fred Thiel. told Reuters. He said the company has already received interest from hyperscalers looking to lease space and expects to secure a tenant by the time the deal closes in late 2026.
MARA continued: Seeking consent This is a necessary step because the acquisition of MARA triggers change of control clauses based on existing debt terms.
Mara Holds 38,689 pieces $BTC According to BitcoinTreasuries.net, it has the largest financial position among listed miners on its balance sheet.
IREN posts $248 million loss after replacing ASICs with Blackwell GPUs
IREN Limited Reported Third Quarter of 2026 Revenue was $144.8 millionThis is a 22% decrease from the $184.7 million recorded in the previous quarter. The company reports annual contracted recurring revenue of $3.1 billion and is targeting $3.7 billion by year-end.
Signed a five-year AI cloud agreement with NVIDIA worth $3.4 billion. NVIDIA will provide the company with air-cooled Blackwell GPUs, which will be deployed within 60 MW of existing data center space at its Childress, Texas, facility beginning in early 2027. NVIDIA also entered into a 5GW strategic partnership with NVIDIA covering infrastructure design across its global power portfolio.
“The world is structurally short on computing power, and the bottleneck is the available data center and GPU power,” said Daniel Roberts, co-founder and co-CEO of IREN.
Small scale miner sales $BTCestablishment of an AI subsidiary
Small-scale miners also $BTC We also have a strong focus on AI infrastructure. DMG blockchain solution Reported mining 21 $BTC Down from 23 people in April $BTC In March.
DMG also announced the creation of a new subsidiary, DMG Infrastructure, dedicated to migrating Christina Lake data centers to AI and high-performance computing workloads. CEO Sheldon Bennett said the company’s ability to access wholesale electricity for between 3.5 and 5.0 Canadian cents per kilowatt-hour gave it a cost advantage during a period of low Bitcoin prices.
bit deerwhile we reported that $BTC The amount held separately from customer deposits is now zero. It was listed as 193.8. $BTC Mining volume increased significantly and all mined coins were sold.
Cango Inc., holding 1,026 $BTC According to BitcoinTreasuries.net, Launched AI subsidiary EcoHash Commercially in April. The company previously sold $305 million of its Bitcoin holdings to pay down debt and reset its balance sheet before pivoting to AI inference services.
the numbers speak for themselves
These disclosures reveal that Bitcoin mining margins are shrinking. Meanwhile, AI infrastructure contracts are booming, with deals worth billions of dollars fueled by demand from hyperscalers.
IREN alone is expected to reach 1,210MW of capacity by 2027. MARA is purchasing a 505MW gas plant. DMG is in the process of renovating the entire facility. The infrastructure pipeline exceeds anything these companies have ever deployed for mining, and that pipeline is likely to grow even further as more miners disclose their information.
