Bitcoin mining companies pivoting to artificial intelligence (AI) and high-performance computing are outperforming traditional miners, with AI-focused miners gaining about 21% year-to-date while Bitcoin mining declines. Companies like Core Scientific now earn significantly more from AI workloads than Bitcoin mining, and firms such as TeraWulf and RIOT have posted gains of 73-94% this year. AI-integrated miners trade at over 12 times forward sales compared to 2-6 times for traditional miners, driven by higher revenue per megawatt-hour from AI cloud services. However, the sector faces a $50 billion funding gap to expand AI capacity, posing risks of dilution or debt as companies transition from mining to AI infrastructure.
Bitcoin miners pivoting to AI infrastructure see a surge in valuation multiples, with AI-integrated miners trading at over 12 times forward sales compared to 2-6 times for traditional miners. For readers following cryptocurrency markets, here is Pluang's snapshot as of Sep 22, 2026 18:03 WIB: out of 50 major cryptocurrencies, 28 rose and 21 fell. Notable movers include SUSHI at Rp4.462 with a 3.78% decline and 80% sell order activity, AAVE at Rp2.524.584 down 3.77% with balanced buy/sell orders, and XTZ at Rp6.009 down 3.72% with 60% buy order activity.
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