Anthropic has announced a significant partnership with Google and Broadcom, securing multiple gigawatts of next-generation computing capacity, slated to come online starting in 2027. This commitment marks the company's largest to date, as revenue growth accelerates to a $30 billion annual run rate from $9 billion at the end of 2025. The massive scale of AI computing demand is now directly competing with bitcoin mining for the same limited resources, including grid connections, land permits, cooling infrastructure, and affordable electricity. According to estimates, bitcoin mining consumes approximately 13 to 25 gigawatts of continuous power globally, depending on hardware efficiency.
Anthropic's acquisition of multiple gigawatts from a single deal, in addition to existing capacity across various platforms, demonstrates the rapid growth of AI as a major competitor for energy infrastructure. The aggregate AI computing buildout is becoming one of the largest sources of new electricity demand in the United States, coinciding with bitcoin miners' decisions on whether to mine or rent their infrastructure to AI companies. Many miners are opting for the latter, with companies like Core Scientific, Iris Energy, and Hut 8 expanding their AI and high-performance computing revenue.
The choice is driven by the fact that renting infrastructure to AI companies often generates more predictable and lucrative cash flows than mining alone. As the bitcoin network's hashrate reaches record levels, the mining industry may evolve into infrastructure companies that happen to mine bitcoin while renting their primary asset – affordable power at scale – to the rapidly expanding AI industry.