In the context of rapid advancements in artificial intelligence, the Bitcoin mining industry is facing an unprecedented competition for electricity resources. What seems to be a threat from AI data centers may actually bring unexpected "surprises" to Bitcoin miners.
Electricity resources have become a scarce commodity, and AI and Bitcoin miners are engaged in a game of who can "secure power" more effectively. Industry experts point out that this competition could create new balance points for Bitcoin miners in unexpected ways.
Image Source Note: Image generated by AI, image licensed by Midjourney
Currently, the total hash rate of the Bitcoin network has reached 770 EH/s, with the current hash rate price at $61.12 per PH per day. This figure is far below the peak period in 2017, when the hash rate price exceeded $1,000.
Interestingly, industry insiders believe that this competition is not entirely negative. Spencer Marr, president of Sangha Renewables, stated that every potential mining investment now needs to pass through a crucial filter: whether to choose power for AI or Bitcoin mining. As more electricity resources are attracted to AI, it may actually stabilize the hash rate price for Bitcoin.
Some experts even predict that by 2030, the Bitcoin hash rate in the United States may drop to less than 20%, but the global hash rate will continue to grow, especially in Africa and Southeast Asia.
It is noteworthy that the operation of AI data centers is more complex than that of Bitcoin mining farms. They require continuous, uninterrupted operation, and the construction and operational costs are also higher. This provides Bitcoin miners with a certain competitive advantage.
Essentially, this competition reflects the scarcity of global cheap electricity resources. Whether for AI or Bitcoin mining, the ultimate contest will still focus on the competition for "low-cost electricity."
In this uncertain race, Bitcoin miners are redefining their survival strategies with wisdom and resilience. Perhaps the crisis is giving birth to new opportunities.
