More. In 2024, Bitcoin mining companies collectively spent over $3.6 billion on hardware, data centers, and infrastructure to maintain and expand their operations.
I insure like >$3B worth actively I think (which includes some additional power equipment, hvac, etc. below the scale of main site transformers, etc.). If you count former equipment which has been removed from service over the years it is probably about $5-10B for Bitcoin in total? (Not pulling the BDX to look at specific breakdown of miners vs AI)
https://arb365.net/en/articles/majnery-vlozhili-36-mlrd-v-in...