Bitcoin Miners Emerge as Unlikely Power Brokers in AI Infrastructure Race, Says Bernstein
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- Bernstein reports that Bitcoin miners collectively control over 27 GW of planned power capacity and have signed more than $90 billion in AI contracts.
- Google is teaming with Blackstone to launch a new AI cloud venture that will deploy its custom chip technology.
- Blackstone will invest $5 billion in equity and retain a majority stake in the joint AI cloud company.
- IREN signed a $3.4 billion deal with Nvidia, including a $2.1 billion equity commitment tied to GPU deployment.
- Riot Platforms secured an AI colocation agreement with AMD.
Why it matters: AI cloud providers gain immediate access to ready‑to‑use grid power, while traditional data‑center developers lose out on scarce capacity; the 27 GW of miner‑controlled power could accelerate AI training and lower compute costs for firms like Google and Nvidia.
