Bitcoin

As artificial intelligence (AI) and cloud computing industries experience unprecedented growth, <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a> are increasingly being edged out in the competition for energy resources. Greg Beard, CEO of <a href="https://ultramining.com/news/en/stronghold-digital-mining-hits-3-0-eh-s-hash-rate-milestone/" rel="noopener noreferrer nofollow">Stronghold</a> Digital Mining, remarked that AI companies are now competing directly with Bitcoin miners for access to power grids, with many willing to pay a premium for <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/" rel="noopener noreferrer nofollow">electricity</a>.
This new dynamic has put pressure on miners, who rely heavily on affordable and abundant energy. Beard emphasized that AI dominance in energy consumption is a battle waged by the biggest tech companies, like Amazon and Microsoft, whose deep pockets allow them to outbid Bitcoin miners. With AI expected to consume up to 9% of <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/" rel="noopener noreferrer nofollow">U.S.</a> electricity by 2030, the competition between tech and crypto is set to intensify, forcing miners to adapt or risk being pushed out of the market.
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AI Energy Demands Displace Bitcoin Miners as Competition Grows

Ultramining_Eng

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