March 6 News: A young researcher who was previously fired from OpenAI is now becoming a major investor in the Bitcoin mining industry. 24-year-old Leopold Aschenbrenner has heavily invested in Bitcoin mining companies through his hedge fund, Situational Awareness LP, totaling approximately $1 billion. According to the latest filings with the U.S. Securities and Exchange Commission (SEC), the fund’s total size is about $5.5 billion, with nearly one-fifth allocated to Bitcoin mining-related companies.
Public information shows that Aschenbrenner left OpenAI in 2024 amid allegations of information leaks. He had also previously participated in the FTX Future Fund project. Now, he is focusing his funds on several mining companies transitioning into artificial intelligence computing, including Core Scientific, Iris Energy, Cipher Mining, Riot Platforms, and Hut 8. These companies generally possess large-scale power resources and data center infrastructure and are considered key assets in the AI computing industry chain.
Industry insiders point out that the core logic behind this investment is not simply optimistic about Bitcoin prices but rather a bet on “the value of power infrastructure.” Nishant Sharma, founder of the mining and computing consulting firm Blocksbridge, stated that the most important assets for Bitcoin miners have always been energy supply capacity and grid access rights, not the amount of Bitcoin they can mine. Against the backdrop of rapidly growing AI computing demand, mining companies with several gigawatts of power resources are gaining new valuation logic.
Since the Bitcoin halving in 2024, miner revenues have declined significantly, with reduced block rewards and lower on-chain transaction fees impacting profitability. Meanwhile, many mining companies are expanding into AI and high-performance computing businesses, hoping to secure more stable income through computing power hosting. For example, Core Scientific has signed a 12-year partnership with AI cloud service provider CoreWeave, with total revenue expected to reach $10 billion. Iris Energy plans to increase its annualized AI cloud service revenue to over $500 million by 2026.
The AI industry’s demand for electricity is also rapidly increasing. It is estimated that training OpenAI’s GPT-4 model requires over 12 megawatts of power, equivalent to the electricity consumption of about 12,000 households. As next-generation models expand in scale, energy demand is expected to continue rising. However, in the U.S., connecting new data centers to the grid often takes 3 to 5 years, while mining companies already have ready power and site resources.
Therefore, in the context of intensified AI computing competition, the energy and infrastructure of Bitcoin mining farms are being revalued. Aschenbrenner’s investment strategy is based on this trend: as AI computing demand continues to grow, Bitcoin mining companies with power and data center resources may become the most direct beneficiaries.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Fake Police Impersonators Force French Couple to Transfer Nearly $1M in Bitcoin
Criminals posing as police in France coerced a couple to transfer nearly $1M in Bitcoin, using fear and authority in a 'wrench attack' that exploits people, not wallets.
Abstract: Attackers used impersonation and psychological coercion to force a Bitcoin transfer, illustrating a wrench attack that targets human vulnerability rather than technical wallet exploits.
GateNews33m ago
Why the Wealthy Are Doubling Down on Bitcoin-Backed Debt
The Xapo Digital Wealth Report for Q1 2026 highlights a major shift in how high-net-worth individuals manage their bitcoin, moving away from active trading and toward long-term capital preservation.
Key Takeaways:
Xapo members increased active bitcoin-backed loans by 8.9% in Q1 2026 to avoid
Coinpedia46m ago
Fraudsters Posing as Iranian Authorities Demand Bitcoin, USDT Payments from Ships at Strait of Hormuz
Gate News message, April 21 — Scammers impersonating Iranian authorities have targeted shipping companies with vessels stranded west of the Strait of Hormuz, demanding Bitcoin and Tether (USDT) payments in exchange for safe passage, according to maritime risk firm Marisks.
The fraudsters
GateNews1h ago
Bitcoin Spot ETFs Post $1B Net Inflows Last Week, Largest in 3 Months
Abstract: Bitcoin spot ETFs attracted about $1 billion in net inflows last week, led by BlackRock's IBIT with $906.1 million and Morgan Stanley's MSBT with $71.1 million in its first full trading week, following $786.3 million the previous week.
Summary: Bitcoin spot ETF inflows totaled about $1B last week, the largest in three months; IBIT led with $906.1M, while MSBT added $71.1M in its first full week.
GateNews2h ago
Bitcoin Tops $75K as Ceasefire Hopes Drive Rally
Bitcoin rose on ETF demand while miners sold BTC; margins tightened and AI/HPC-focused pivots could turn miners into AI data-center players, potentially boosting valuations as AI demand grows.
Abstract: Bitcoin rose on ETF demand amid miner selling and tight margins. The report highlights a strategic pivot by public miners toward AI/HPC infrastructure, signaling a potential shift from pure bitcoin mining to AI data-center services and higher valuation multiples.
CryptoFrontier3h ago
BlackRock IBIT Adds 3,355 BTC in $256M Institutional Inflow on April 20
IBIT led Bitcoin ETF inflows with $256M (≈3,355 BTC) on Apr 20, pushing total spot-ETF inflows near $58B and assets over $100B, underscoring rising institutional demand and access via regulated ETFs.
Abstract: This report notes that BlackRock's iShares Bitcoin Trust (IBIT) attracted $256 million in net inflows on April 20, about 3,355 BTC, signaling robust institutional interest in Bitcoin spot ETFs. IBIT dominated daily flows, with Bitcoin ETF inflows totaling over $238 million for the day and cumulative spot ETF inflows approaching $58 billion; overall spot Bitcoin ETF assets exceed $100 billion, representing more than 6% of Bitcoin's market cap. The trend suggests growing institutional confidence in Bitcoin as a long-term asset, aided by regulated access and simplified custody; IBIT remains the leading issuer, though Fidelity and ARK Invest are also attracting capital.
GateNews3h ago
