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Bitcoin miners turn to AI data centers
Riot Platforms and Hut 8 describe growth in contracted data center megawatts while selling bitcoin to fund it.
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Riot and Hut 8 count AI leases in tens of billions of dollars while mining still pays the bills
Third-quarter filings show Riot and Hut 8 selling bitcoin to fund AI campuses, while American Bitcoin keeps mining and holding; a gap of about 41% to 45% between price and cost to mine remains.
MARA sells bitcoin from its balance sheet to clear its loans as mining revenue shrinks
The miner sold 13,597 bitcoin for about $1.1 billion after September and used $750 million to repay bitcoin-backed loans; third-quarter revenue fell 35%.