Bitcoin miners profit as AI firms pay billions for ready power infrastructure amid grid shortages.

Bitcoin mining companies are capitalizing on a power shortage caused by the surge in AI data centers, which face long waits for grid connections. Major miners like TeraWulf have signed multi-billion dollar, long-term leases with AI firms, generating significant new revenue streams. This shift reflects a structural change where miners leverage their existing power infrastructure and land to meet AI demand, while continuing bitcoin mining as a flexible backup. The trend highlights growing competition for electricity and the evolving role of miners beyond cryptocurrency rewards.