Tech Giants Compete for Energy With Bitcoin Miners

A fierce competition for electricity is emerging in the U.S. as tech giants like Amazon and Microsoft aggressively pursue energy resources previously held by bitcoin miners to support their rapidly expanding AI and cloud computing data centers. This surge in demand is projected to cause data centers to consume up to 9% of the nation’s electricity by the end of the decade, more than doubling their current usage. While some bitcoin miners are profiting by leasing or selling their energy assets, many are struggling to maintain operations due to reduced access to electricity. Analysts predict that by 2027, around 20% of the power capacity currently utilized by bitcoin miners will be redirected towards AI applications, further intensifying the competition. The changing landscape is prompting miners to adapt or pivot towards AI, although they face significant challenges in repurposing their infrastructure. This energy scramble highlights the growing tension between the cryptocurrency and tech sectors over limited power resources.