Bitcoin miners need $50B to convert power assets into AI data centers amid funding gaps.

Public Bitcoin miners are shifting from traditional mining to AI and high-performance computing (HPC) centers, requiring about $50 billion in capital to complete this transition. Companies like IREN, Riot Platforms, and HIVE Digital face the largest funding gaps, with IREN needing $21.1 billion partly due to a major $9.7 billion contract with Microsoft. This pivot is driven by reduced Bitcoin mining rewards after the 2024 halving, pushing miners to seek more profitable uses of their power infrastructure. However, only 25% of the planned AI capacity has been delivered so far, highlighting execution risks and the need for new funding sources beyond traditional crypto investors. Investors should watch how these companies close their funding gaps, increase delivered capacity, and secure new large hosting contracts.

The shift of Bitcoin miners like HIVE Digital towards AI and HPC centers comes at a time when HIVE's stock on Pluang shows notable selling pressure. As of Oct 13, 2026 00:23 WIB, HIVE trades at Rp961, down 3.89% for the day, with a market cap of Rp572.2 million and a 24-hour volume of Rp10.59 million. Pluang data also reveals a full 100% sell order activity and a typical hold time of 43 days, indicating cautious investor sentiment during this capital-intensive transition.