Crypto miners’ AI pivot faces familiar pressures

[mendez]

CoreWeave isn’t alone in moving from crypto mining to AI data centers. Firms like HIVE Digital, MARA Holdings, Hut 8, and TeraWulf have repurposed energy and compute infrastructure to support AI and high-performance workloads.

But AI data centers are beginning to face challenges once familiar to Bitcoin miners: community resistance tied to power consumption, grid strain, and land use.

Despite this, the market remains highly competitive. Bloomberg data shows thousands of new entrants building data centers, with Big Tech’s share of global computing capacity projected to fall below 18% by 2032.

If the trend holds, AI infrastructure—like crypto mining before it—may increasingly operate outside the direct control of Big Tech.

[bonk]

wow so basically crypto mining taught them how to build ai data centers, talk about pivoting at the right time