Bitcoin Miners Poured Billions into AI in H1, Capex Over 15x Revenue

August 21 news, according to Cointelegraph, BlocksBridge Consulting's latest report shows that nine listed Bitcoin mining companies spent $5.11 billion in capital expenditures on AI and high-performance computing (HPC) businesses in H1 2026, while related revenue was only $340 million — an input-output ratio of roughly 15:1, highlighting the massive upfront investment required for the pivot. Across a sample of 15 mining firms and AI data center companies, total capex reached $30.7 billion in the reporting period, up 42.6% from full-year 2025. Despite spending far exceeding revenue, AI and HPC income is accelerating, with nine miners posting Q2 revenue of $206 million, up 52% quarter-over-quarter, led by Core Scientific, TeraWulf, and Bitdeer.