The great AI gold rush is having an unexpected side effect: it’s making Bitcoin mining hardware cheaper for anyone still willing to actually mine Bitcoin.
American Bitcoin, the Hut 8 subsidiary launched in early 2025, is leaning into that dynamic hard. The company has been aggressively buying up ASIC miners at depressed prices as competitors abandon the hardware in favor of AI infrastructure. Between March and April 2026, the firm purchased and activated 11,298 new ASIC machines, pushing its total mining fleet to nearly 59,000 units and its hashing capacity to roughly 25 exahashes per second.
The AI pivot is creating a buyer’s market for Bitcoin miners
Major mining operations like Marathon Digital Holdings and CleanSpark have been redirecting resources toward AI and high-performance computing. According to a Bernstein analysis, this shift has generated $90 billion worth of AI-related contracts and 27 gigawatts of power capacity across North America.
American Bitcoin reports all-in mining costs of approximately $50,000 per Bitcoin.
