Anthropic has unveiled a partnership with Google and Broadcom to develop 'multiple gigawatts' of next-generation computing capacity, set to launch in 2027. This commitment marks the company's largest to date, with revenue growth accelerating to a $30 billion annual rate from $9 billion in 2025. The scale of AI computing demand is now directly competing with bitcoin mining for limited resources such as grid connections, land permits, cooling infrastructure, and affordable electricity. A Cambridge tracker estimates that bitcoin mining consumes around 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 its existing capacity across various platforms, demonstrates the rapid growth of AI as a major competitor for energy infrastructure. The collective AI computing expansion represents one of the largest sources of new electricity demand in the US, coinciding with bitcoin miners' decisions on whether to mine or rent their infrastructure to AI companies. Many miners are opting for the latter, with Core Scientific converting a significant portion of its mining capacity to AI hosting and other companies expanding their AI revenue streams. The revenue generated by renting infrastructure to AI companies often surpasses that of mining, especially with rising energy costs and fluctuating bitcoin prices.
While bitcoin mining is not dying, with the network's hashrate reaching record levels, the industry may evolve to resemble infrastructure companies that mine bitcoin while renting their primary asset – affordable power at scale – to the rapidly growing AI sector.