比特币矿企正通过与AI公司签订长期数据中心租赁合同，实现业务转向。[1] 2024年4月比特币完成第四次减半，每个区块奖励从6.25枚降至3.125枚，挖矿收益大幅下滑。[1] Core Scientific等矿企借助已有的土地、电力和并网资格优势，与Anthropic、CoreWeave等AI公司达成合作。[1] 到2025年初，Core Scientific的数据中心租赁容量已接近590兆瓦，其中2024年6月与CoreWeave签约约200兆瓦的12年合同。[1]
这一转型带来显著收入增长。[1] TeraWulf在2026年第一季度的AI数据中心租赁收入达2100万美元，首次超过当季1300万美元的比特币挖矿收入。[1] 7月6日，TeraWulf与Anthropic签署为期20年的数据中心租约，合同总价值约190亿美元。[1] Hut 8同样获得丰厚订单，7月20日签下第二份为期15年的租约，价值98亿美元，两期合同总价值达196亿美元。[1] 相比之下，Core Scientific 2025年产量从6595枚下降至2276枚，挖矿收入则从4.09亿美元降至2.29亿美元。[1]
不过，这些合作也面临执行周期的考验。[1] TeraWulf预计为Anthropic建设的园区第一批容量到2027年下半年才能投入使用，Hut 8第二份租约机房首批交付时间在2028年。[1] 此外，CoreWeave曾两次尝试收购Core Scientific，首次报价10亿美元被拒，第二次约90亿美元的全股票收购在2025年10月因股东反对而终止。[1]
Bitcoin mining enterprises are transforming their business models by leasing infrastructure to artificial intelligence companies, capitalizing on existing advantages in land ownership, electrical capacity, and grid connection credentials.[1] Following the cryptocurrency market's challenges, major miners have signed substantial long-term contracts with AI firms, fundamentally reshaping their revenue streams.
TeraWulf and Hut 8 have emerged as leading players in this transition. TeraWulf signed a 20-year data center lease agreement with Anthropic on July 6, valued at approximately $19 billion.[1] By the first quarter of 2026, TeraWulf's AI data center rental income reached $21 million, surpassing its Bitcoin mining revenue of $13 million for the same quarter.[1] Hut 8 secured two separate 15-year leases in Texas, with the second contract signed on July 20 valued at $9.8 billion, bringing its combined lease value to $19.6 billion.[1]
Core Scientific has also shifted toward data center operations, with leasing capacity approaching 590 megawatts by early 2025 following a June 2024 agreement with CoreWeave for approximately 200 megawatts over 12 years.[1] The strategic pivot reflects deteriorating mining profitability: Core Scientific's 2025 production fell to 2,276 bitcoins from 6,595 in the prior year, while mining revenue declined from $409 million to $229 million.[1] The revenue contraction stems partly from Bitcoin's fourth halving in April 2024, which reduced block rewards from 6.25 to 3.125 bitcoins.[1]
