Anthropic has announced a significant partnership with Google and Broadcom to secure multiple gigawatts of next-generation computing capacity, which is expected to come online starting in 2027. This move marks a substantial commitment for the company, which has seen its revenue growth accelerate to a $30 billion annual run rate from $9 billion at the end of 2025.
The increasing demand for AI computing power is now directly competing with bitcoin mining for the same limited resources, including grid connections, land permits, cooling infrastructure, and affordable electricity. A recent estimate suggests that bitcoin mining globally consumes around 13 to 25 gigawatts of continuous power, depending on hardware efficiency.
Anthropic's ability to secure multiple gigawatts from a single deal, in addition to its existing capacity across various platforms, highlights the rapid growth of AI as a major competitor for the same energy infrastructure that miners rely on. Other companies, such as OpenAI, are also building out their infrastructure, leading to a significant increase in electricity demand in the United States. As a result, bitcoin miners are faced with the decision to either continue mining or rent their infrastructure to AI companies, with many opting for the latter due to more predictable and lucrative cash flows.
While this shift does not necessarily mean the end of bitcoin mining, it may lead to a change in the industry, with miners potentially evolving into infrastructure companies that happen to mine bitcoin while renting their excess capacity to the AI sector.