Wall Street investors are revaluing Bitcoin miners based on their capacity to lease power to AI tenants, as data centers now account for nearly 90% of large-load energy demand in Texas. Notably, Galaxy Digital transformed its Helios mining facility into an AI infrastructure hub through a hosting agreement with CoreWeave. This deal is valued at approximately $4.5 billion and has the potential to generate over $1 billion in annual revenue.
The company is repurposing its Helios bitcoin mining site into an AI hub, potentially generating over $1 billion in annual revenue.
Read the full storyERCOT reveals data centers represent nearly 90% of large-load energy demand, prompting a new framework that supports miners pivoting to AI infrastructure.
Investors are pivoting valuation models for Bitcoin miners toward their capacity to lease power to AI firms rather than just crypto output.