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

Bitcoin miners are undergoing the corporate equivalent of a career change. According to CoinShares, publicly listed miners could derive roughly 70% of their revenue from artificial intelligence and high-performance computing by December 2026, up from around 30% earlier this year. That projection arrives alongside a separate data point that underscores renewed appetite for crypto exposure: US spot Bitcoin ETFs pulled in approximately $1.9 billion in net inflows during the week ending August 22, 2026, the strongest weekly haul since October 2025. The great pivot, by the numbers Cumulative announced AI and HPC contracts among publicly listed miners now exceed $70 billion. Core Scientific leads the pack with an expanded CoreWeave partnership valued at roughly $10.2 billion over 12 years. IREN has locked in a Microsoft GPU cloud contract worth approximately $9.7 billion over five years. TeraWulf sits on more than $12.8 billion in contracted HPC revenue. And then there’s Hut 8, which signed a 15-year lease with Fluidstack valued at around $7 billion, backed by Google. The driving force behind this migration is US data center grid constraints. Demand for AI compute has outstripped availab...