Is the AI industry coming for Bitcoin miners power and the SEC is one step away from publishing its crypto rulebook?

This is CoinDesk Daily. I'm Jen Sanassi.

Anthropic announced a partnership with Google and Broadcom for multiple gigawatts of next generation

TPU compute capacity expected to come online starting in 2027. The company's revenue has grown

to a $30 billion annual run rate up from $9 billion at the end of 2025. The scale matters for

crypto because AI is now competing directly with Bitcoin mining for the same scarce resources

like grid connections, land permits, cooling infrastructure, and cheap electricity.

A Cambridge tracker estimates Bitcoin mining draws roughly 13 to 25 gigawatts globally and

anthropic securing multiple gigawatts from a single deal shows how quickly AI is becoming

a peer-level competitor for that same energy

infrastructure. Now, this doesn't necessarily mean that mining is dying. The network's hash

rate continues to hit record levels above ones at a hash per second, but the miners who survived

this cycle might look less like energy companies that produce Bitcoin and more like infrastructure

companies that happen to mine more like infrastructure companies that

happen to mine on the side. Strategy purchased 4,871 Bitcoin for $330 million last week in one of

its largest acquisitions of 2026. But once again, the price barely moved. The reason comes down to

scale. Strategies demand accounts for roughly 7% of total gross inflows and

about 9% of net flows according to check on chain data. That's consistent buying, but relatively

small compared to broader market forces. At its peak in November 24, strategy was driving

over $15 billion in demand when Bitcoin was above $100,000 that has since normalized to around $2.8 billion

in the past 30 days. The dominant force right now is long-term holders driving roughly $28.5 billion

in supply change. Meanwhile, Bitcoin's realized cap saw a $29 billion drawdown over the past 30 days,

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