CoinShares reports $2B in crypto ETP inflows as AI revenue for Bitcoin miners could hit 70%

CoinShares reports that publicly listed Bitcoin miners are rapidly transitioning into artificial intelligence and high-performance computing (HPC) infrastructure providers. Cumulative announced AI and HPC contracts across listed miners have surpassed $70 billion, with AI-related revenue projected to reach approximately 70% by December 2026, up from 30% earlier in the year. The shift comes as post-halving mining cash costs climbed to roughly $80,000 per Bitcoin, incentivizing firms to monetize their valuable grid-connected power capacity. Simultaneously, institutional demand for crypto assets has surged, with US spot Bitcoin ETFs recording roughly $1.9 billion to $1.92 billion in net weekly inflows, marking the highest volume in ten months. The influx supported Bitcoin's price breakout from a prolonged consolidation range between $62,000 and $67,000 up to approximately $79,400. Reinforcing the positive shift, CryptoQuant declared the Bitcoin bear cycle over after its proprietary on-chain PnL Index crossed its 365-day moving average, mirroring the January 2023 recovery signal. Bitcoin currently trades roughly 16% above its short-term holder cost basis of $68,500, indicating strengthening bullish market structure.