POPA ReconCoinShares: AI Compute Generates About 3x More Profit per MW Than Bitcoin Mining
CoinShares: AI Compute Generates About 3x More Profit per MW Than Bitcoin Mining CoinShares estimates that AI compute generates about $1.5 million in annualized profit per MW for Bitcoin miners, roughly three times the $0.5 million per MW generated by traditional mining, helping drive listed miners to redirect power and data center capacity toward AI and HPC. Companies with contracted AI or HPC capacity trade at an average 12.9x EV/NTM sales, compared with 3.7x for continuing miners without contracts. More than 4 GW of capacity has been contracted across the companies covered, but only about…
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