On April 7, Anthropic reached its largest computing partnership agreement to date, collaborating with Google and Broadcom to acquire multi-gigawatt next-generation TPU computing power starting in 2027. Meanwhile, its annual revenue has surged from $9 billion at the end of 2025 to $30 billion. The rapid expansion of AI infrastructure is becoming a direct competitor to Bitcoin mining for scarce energy resources, which include grid access, land, cooling capacity, and cheap electricity. Today, AI has emerged as one of the largest sources of new electricity demand in the United States. Under pressure from rising costs and fluctuating mining economics, large Bitcoin mining companies are increasingly pivoting to support AI workloads, positioning themselves as providers of power and data center infrastructure while still engaging in Bitcoin mining, rather than solely operating as mining companies.