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Update
What changedBenzinga’s latest account puts figures on the strain across several bitcoin miners pursuing AI data-centre work. It says Riot Platforms shares were down 55% from their high for the year and MARA Holdings shares were 68% below their record high, while IREN’s short interest stood at 20.7%, compared with 12.8% for Riot and 26% for MARA.
The report also gives more detail on Gartner’s warning about the economics of AI infrastructure. Gartner estimates that data-centre owners would need $8.5 trillion in revenue to cover announced capital spending, financing costs and a 12% return on invested capital, while expected revenue is about $3.6 trillion.
Benzinga adds that the miners are selling some of their bitcoin and borrowing to fund expensive data-centre plans. It also points to growing competition, including Meta’s plans to lease spare capacity.
Sources and evidence- Riot Platforms, IREN, and MARA Drop Further as Bitcoin Miners Wrestle With the AI Headwinds – Riot Platfo – Benzinga: Benzinga reports additional figures on share declines and short interest among bitcoin miners shifting towards AI data centres, and reports Gartner estimates a large gap between the revenue required to justify announced infrastructure spending and expected revenue.
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