In a recent interview, Mellerud shared his thoughts on the potential impact of AI facilities on the competition for power in Bitcoin mining. He believes that while AI facilities may compete for power, it will not significantly impact hashprice.
According to Mellerud, the Bitcoin mining network is a self-correcting mechanism. If there is a reduced hashrate in one country due to competition from AI facilities, it will simply increase profitability for miners in another country. This, in turn, will give them more room to grow.
Mellerud predicts that by 2030, the U.S. will have less than 20% of the total hashrate. He believes that competition from AI facilities will drive hashrate growth in other regions, particularly in Africa and Southeast Asia.
Overall, Mellerud’s thesis suggests that while AI facilities may pose a challenge to traditional miners, the Bitcoin mining network will adapt and continue to thrive.
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