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Peter Schiff warns AI could sap speculative demand for Bitcoin
CoinShares data cited in the coverage points to public miners signing over $70 billion in AI and high-performance computing contracts and potentially deriving up to 70% of revenue from AI by year-end, versus about 30% previously.
Peter Schiff argued that AI is not supportive for Bitcoin, saying it could become a major threat by competing for the same speculative capital and physical resources that have helped fuel BTC’s rallies, including electricity and data center capacity, according to the Yahoo Finance article.
The piece also notes that the infrastructure argument has visible backing in the Bitcoin mining industry. CoinShares is cited as finding that public Bitcoin miners signed more than $70 billion in AI and high-performance computing contracts by early 2026, and it estimates listed miners could generate as much as 70% of revenue from AI by year-end, compared with roughly 30% before.
CoinShares figures included in the article show mining economics shifting alongside the AI pivot. The weighted average cash cost among public miners reached about $79,995 per Bitcoin in Q4 2025, while mining revenue per unit of computing power fell toward multi-year lows.
The coverage further describes how miners may be funding AI expansion by selling BTC. It cites MARA selling roughly $1.1 billion worth of Bitcoin earlier this year as it expanded into AI computing and addressed convertible debt obligations, warning that repeated BTC sales to fund AI data center projects could add supply to the market.
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