As the demand for artificial intelligence (AI) and cloud computing continues to surge, U.S. technology companies are increasingly competing with bitcoin miners for energy resources.

This competition has intensified as data centers drive the fastest U.S. power demand growth since the early 2000s, far outpacing the expansion of the power grid.

Major companies like Amazon and Microsoft are aggressively securing energy assets, often targeting those held by bitcoin miners to fuel their growing AI infrastructure needs.

The energy consumption of data centers is projected to more than double by the end of the decade, potentially accounting for 9% of total U.S. electricity usage. In contrast, bitcoin mining currently represents approximately 0.4% of global electricity consumption.

With the increasing competition, some bitcoin miners are pivoting to AI and cloud services to maximize their energy assets. Analysts estimate that up to 20% of bitcoin mining power capacity could transition to AI by 2027.

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