Author: Sam Bourgi
Compiled by: DeepChain TechFlow
DeepChaohao summary: NVIDIA’s plan to issue at least $20 billion in bonds serves as a validation of the strong demand for AI infrastructure. This development connects to the crypto space because a number of Bitcoin miners are repurposing their idle power and facilities into AI data centers. Companies like HIVE, TeraWulf, Hut 8, and CleanSpark are all pursuing this path, driven by the real pressure that mining is becoming increasingly unprofitable—especially since the 2024 halving. This brief report ties together this underlying industry trend.
Chipmaker NVIDIA is reportedly joining the AI bond rush, planning to issue $20 billion in bonds. This financing further underscores the strong market demand for AI infrastructure and data centers—a demand that has opened a new opportunity for Bitcoin miners looking to move beyond the crypto industry.
On Monday, Bloomberg reported that NVIDIA plans to raise at least $20 billion through a multi-tranche bond offering to fund AI-related investments and repay existing debt.
The report, citing knowledgeable sources, said NVIDIA plans to issue seven bonds with varying maturities ranging from two to 30 years. The longest-duration bond is expected to yield approximately 90 basis points higher than comparable U.S. Treasury securities.
This bond issuance indicates that investors still have appetite for funding AI expansion and suggests that one of the industry’s most influential companies believes demand for AI infrastructure will remain high.
Source Cointelegraph
NVIDIA is the leading supplier of GPUs that power large language models and sits at the center of the entire AI ecosystem. Its chips are widely adopted by major cloud providers and hyperscalers, making its capital expenditure plans a key indicator watched closely by the entire industry.
This ongoing AI construction boom is also benefiting an increasing number of Bitcoin miners, who are beginning to repurpose their high-energy-consuming facilities and power infrastructure into high-performance computing and AI hosting sites.
Companies like HIVE Digital, TeraWulf, Hut 8, and CleanSpark, which previously relied almost entirely on bitcoin mining revenue, have now repositioned themselves as providers of data center computing power, leveraging their existing infrastructure and power agreements to capitalize on growing demand for computational resources.
The mining business is still facing profit pressure.
Miners are shifting heavily toward AI because the economics of crypto mining have become increasingly difficult to balance, especially after the April 2024 halving. The halving, combined with persistently high mining difficulty and operational costs, has drastically squeezed profit margins.
Some analysts have described this period as “the most brutal profit environment in history.” As a result, many miners have begun selling off part of their Bitcoin inventory, reducing leverage, and seeking new sources of income outside of mining.
According to data from TheEnergyMag, between October last year and March this year, Bitcoin miners sold a total of over 15,000 BTC.
Caption: Since BTC surged above $126,000 in October last year, mining companies’ inventory sell-offs have accelerated.
Source TheEnergyMag
Under this context, analysts expect large mining companies to gradually become suppliers of AI infrastructure. For example, Bernstein recently stated that they believe the majority of IREN’s future value will come from AI infrastructure, citing the company’s rapid growth in cloud-based AI services.