Buterin: Bitcoin mining and AI data centers have different cost structures
- —About 76% of AI compute costs are chips, servers and data centers
- —For miners, the key variable cost is the price of electricity
- —In June mining difficulty fell 10.09% after BTC dropped 15%
- —Miners earned $1.12 billion in September, the most since January
Why it matters: The differing cost structures explain why miners are the first to switch off rigs when BTC falls, while AI data centers keep running.
Source: BitcoinBázis