MARA CEO: Energy for AI More Profitable than Bitcoin Mining

MARA CEO Fred Thiel stated that using energy for AI data centres is currently more profitable than mining cryptocurrency. He emphasized that MARA will continue to mine Bitcoin only as long as it does not create an energy shortage for AI needs. MARA, one of the largest Bitcoin miners, holds 36,300 BTC but regularly reduces its portfolio to fund AI expansion. Thiel highlighted that energy is a critical resource, and its value increases when directed towards AI rather than crypto mining. He noted that demand for energy is rising while supply struggles to keep pace, which could lead to larger protests against data centre construction. Thiel explained that even after signing agreements, the company could still use energy for crypto mining, but it is less profitable compared to data centres. He believes that companies with access to affordable energy and the ability to build data centres by 2027 or 2028 are in a 'golden position'. Thiel also mentioned that MARA has never been a treasury company, having sold over 20,000 BTC in the past year to cover 1 billion dollars of convertible debt. He does not plan to accumulate Bitcoin, viewing it as belonging to a different category now. Thiel anticipates that Bitcoin mining will eventually disappear as a separate industry, with crypto assets mined from excess household energy.

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