BlockBeats news, on July 29, MARA Holdings CEO Fred Thiel stated that the revenue generated by using electricity for AI infrastructure far exceeds that of Bitcoin mining, making power resources the most critical strategic asset for mining companies. He said: "The returns from using each kilowatt-hour of electricity for AI are significantly higher than those from Bitcoin mining."
Thiel noted that as Bitcoin halvings continue to compress mining profits, while electricity remains the largest operating cost for mining companies, firms must secure access to power resources or establish close partnerships with utility providers to remain competitive. MARA has partnered with Starwood to build approximately 1 GW of computing capacity and plans to expand further to 2.5 GW; the company also announced this month the acquisition of a Texas site with approximately 2 GW of power access capacity for developing digital infrastructure.
However, Thiel emphasized that AI will not completely replace Bitcoin mining. In regions with low-cost, idle, or excess electricity, Bitcoin mining remains an important way to improve electricity utilization. He believes that, in the future, for mining companies with grid access and developable land, Bitcoin mining will become one of several uses for electrical resources, rather than the sole use.