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MARA CEO: Using Electricity for AI Is Far More Profitable Than Bitcoin Mining Fred Thiel Fred Thiel, CEO of MARA, one of the world's largest publicly listed Bitcoin mining companies, said in a July 23 interview with Natalie Brunell that electricity has become the industry's most critical resource, as...

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THIS is Bitcoin's biggest weakness... The CEO of Bitcoin mining company, MARA, said that $BTC's biggest weakness is its inability to generate yield for holders in a recent interview, per Wu Blockchain. CEO Fred Thiel also added that AI data centers are able to generate much more revenue per unit of electricity expended than $BTC mining. For context, MARA has sold around 20,000 $BTC. Are the Bitcoin faithfuls leaving?!
0:20

THIS is Bitcoin's biggest weakness... The CEO of Bitcoin mining company, MARA, said that $BTC's biggest weakness is its inability to generate yield for holders in a recent interview, per Wu Blockchain. CEO Fred Thiel also added that AI data centers are able to generate much more revenue per unit of electricity expended than $BTC mining. For context, MARA has sold around 20,000 $BTC. Are the Bitcoin faithfuls leaving?!

BSCN

47,045 views • 1 month ago

MARA CEO Fred Thiel joined CNBC to talk about MARA's partnership with Starwood Digital Ventures to convert select mining sites into HPC/AI data centers, why Bitcoin miners are uniquely positioned to meet hyperscaler demand for power, and how MARA plans to keep mining Bitcoin throughout the transition. Watch the full interview:
5:48

MARA CEO Fred Thiel joined CNBC to talk about MARA's partnership with Starwood Digital Ventures to convert select mining sites into HPC/AI data centers, why Bitcoin miners are uniquely positioned to meet hyperscaler demand for power, and how MARA plans to keep mining Bitcoin throughout the transition. Watch the full interview:

MARA

19,052 views • 6 months ago

JUST IN: MARA CEO Fred Thiel says AI pays more than Bitcoin mining. “Today, power is the thing, which is why ourselves and many of our peers have pivoted. Because you get a lot more money per electron if you're doing it for AI than for Bitcoin mining.” “We sit on an asset called land and power, which I can convert to AI, which gives me a much higher return.” Thiel says MARA will not shut down immediately: “We can mine Bitcoin up until the electrons have to be redirected to the data center.” "It starts getting pretty expensive to mine Bitcoin when the alternative use of energy is AI.”
0:58

JUST IN: MARA CEO Fred Thiel says AI pays more than Bitcoin mining. “Today, power is the thing, which is why ourselves and many of our peers have pivoted. Because you get a lot more money per electron if you're doing it for AI than for Bitcoin mining.” “We sit on an asset called land and power, which I can convert to AI, which gives me a much higher return.” Thiel says MARA will not shut down immediately: “We can mine Bitcoin up until the electrons have to be redirected to the data center.” "It starts getting pretty expensive to mine Bitcoin when the alternative use of energy is AI.”

Coin Bureau

42,130 views • 1 month ago

MARA CEO: Bitcoin Has Missed Its Chance to Become a Payment Method Fred Thiel Fred Thiel , CEO of MARA, one of the world’s largest listed Bitcoin miners, said in a July 23 interview with Natalie Brunell that Bitcoin’s opportunity to serve as a payment method has passed. In commercial settings with thousands of transactions per second and thin margins, even small price fluctuations can alter the value received. He expects AI-related crypto payments to rely mainly on stablecoins. However, Bitcoin remains a useful store of value for keeping assets outside centralized control and transferring them quickly worldwide.
2:56

MARA CEO: Bitcoin Has Missed Its Chance to Become a Payment Method Fred Thiel Fred Thiel , CEO of MARA, one of the world’s largest listed Bitcoin miners, said in a July 23 interview with Natalie Brunell that Bitcoin’s opportunity to serve as a payment method has passed. In commercial settings with thousands of transactions per second and thin margins, even small price fluctuations can alter the value received. He expects AI-related crypto payments to rely mainly on stablecoins. However, Bitcoin remains a useful store of value for keeping assets outside centralized control and transferring them quickly worldwide.

Wu Blockchain

32,438 views • 1 month ago

In our first interview of 2026, Bitcoin Rails goes deep on the mining industry with MARA CEO Fred Thiel — unpacking the AI-fueled tidal wave of demand for HPC data centers and the new world of opportunity it creates for industrial-scale Bitcoin miners. Look out for Fred’s takes on: • how Bitcoin mining economics are changing • who’s best positioned to benefit from AI/HPC • how MARA has positioned itself for this shift • why self-controlled power generation is the name of the game Full episode drops tomorrow 🔥
0:55

In our first interview of 2026, Bitcoin Rails goes deep on the mining industry with MARA CEO Fred Thiel — unpacking the AI-fueled tidal wave of demand for HPC data centers and the new world of opportunity it creates for industrial-scale Bitcoin miners. Look out for Fred’s takes on: • how Bitcoin mining economics are changing • who’s best positioned to benefit from AI/HPC • how MARA has positioned itself for this shift • why self-controlled power generation is the name of the game Full episode drops tomorrow 🔥

Isabel Foxen Duke⚡️

11,460 views • 8 months ago

MFTV #11: BITCOIN MINING AND THE RACE FOR AI POWER | with MARA CEO Fred Thiel (Fred Thiel) 🔗 YouTube: 🌿 Spotify: "You can't do AI, HPC, or Bitcoin without electrons. Acquire electrons, then generate maximum value per electron." MARA is one of the largest Bitcoin miners in the world, and it’s now moving into the energy and AI/HPC infrastructure territory the whole industry is racing for. What happens to Bitcoin mining when the race for AI power is quickly gaining popularity? In his second appearance on MFTV, Fred rejoins Head of MARA Foundation Isabel Foxen Duke⚡️ to explain what's driving that race. AI inference has skyrocketed demand for power, and the bottleneck is energized land — places where the electrons are already flowing. Fred also lays out MARA's position: a power portfolio few can match, a partnership with Starwood Digital Ventures (a large-scale data center operator with deep hyperscaler and financing experience), and an in-house team spanning digital infrastructure operations, energy, and capital markets. Bitcoin mining, meanwhile, becomes the load that monetizes power the moment it switches on. A conversation about energy, AI, and how the assets a Bitcoin miner spent years accumulating map onto the most contested market in tech.
48:47

MFTV #11: BITCOIN MINING AND THE RACE FOR AI POWER | with MARA CEO Fred Thiel (Fred Thiel) 🔗 YouTube: 🌿 Spotify: "You can't do AI, HPC, or Bitcoin without electrons. Acquire electrons, then generate maximum value per electron." MARA is one of the largest Bitcoin miners in the world, and it’s now moving into the energy and AI/HPC infrastructure territory the whole industry is racing for. What happens to Bitcoin mining when the race for AI power is quickly gaining popularity? In his second appearance on MFTV, Fred rejoins Head of MARA Foundation Isabel Foxen Duke⚡️ to explain what's driving that race. AI inference has skyrocketed demand for power, and the bottleneck is energized land — places where the electrons are already flowing. Fred also lays out MARA's position: a power portfolio few can match, a partnership with Starwood Digital Ventures (a large-scale data center operator with deep hyperscaler and financing experience), and an in-house team spanning digital infrastructure operations, energy, and capital markets. Bitcoin mining, meanwhile, becomes the load that monetizes power the moment it switches on. A conversation about energy, AI, and how the assets a Bitcoin miner spent years accumulating map onto the most contested market in tech.

MARA Foundation

25,073 views • 1 month ago

At the AI in America Summit, Fred Thiel, CEO of MARA, described how data centers are evolving to support both AI and Bitcoin by treating energy like a flexible, optimizable resource. He explained that Bitcoin mining can absorb excess grid capacity, balance energy demand, and complement AI workloads—creating a more efficient model where data centers maximize the value of every megawatt. Explore more: #TheHillTech #AIInfrastructure #DigitalAssets
1:30

At the AI in America Summit, Fred Thiel, CEO of MARA, described how data centers are evolving to support both AI and Bitcoin by treating energy like a flexible, optimizable resource. He explained that Bitcoin mining can absorb excess grid capacity, balance energy demand, and complement AI workloads—creating a more efficient model where data centers maximize the value of every megawatt. Explore more: #TheHillTech #AIInfrastructure #DigitalAssets

The Hill Events

13,070 views • 8 months ago

BITCOIN RAILS #46: BITCOIN MINING IN THE AGE OF AI | with MARA CEO Fred Thiel 🔗 YOUTUBE: 🌿 SPOTIFY: In response to the AI-driven shock in global demand for computing power, large players in the Bitcoin mining industry have been forced to make significant strategic shifts to remain competitive. MARA — the largest Bitcoin miner in the world by hashrate — is emerging as one of the more well-positioned beneficiaries of these changing tides, having transitioned from an “asset-light” strategy (via hosted mining at third-party facilities) to an “asset-heavy” approach (owning its own land, power, and infrastructure) just ahead of the AI compute wave in 2024/25. I sat down with MARA CEO Fred Thiel to discuss how these shifting industry dynamics are playing out in practice — as well as his perspective on how key mining-related security and infrastructure issues may evolve in the coming months and years. In this episode, we cover: — How MARA scaled from near-zero hash rate in 2020 to the largest Bitcoin miner globally by the end of 2023 — Key differences between operating Bitcoin mining facilities versus AI data centers, and where the two models meaningfully intersect — Why ownership of power generation — rather than reliance on PPAs — may represent a durable competitive edge for miners and AI data center operators over time — Why Bitcoin may be entering its “IPO phase,” and why recent price corrections could reflect increasing market maturity rather than structural weakness We also explore more technical and often under-discussed topics, such as heat reuse, open-source mining technologies, and the implications of US policy goals around Bitcoin mining. This episode offers a grounded, operator-level view of where Bitcoin mining is headed, informed by one of the most influential leaders in the public mining sector. This episode of Bitcoin Rails is powered by: — Best In Slot (Best in Slot | BRC2.0 🧑‍🍳) — the leading API for Ordinals and BRC-20 data aggregation and indexing. — Spark (Lightspark) — a statechains implementation advancing Bitcoin-powered payments. — Citrea (Citrea | Mainnet Live 🍊🍋) — a leading Bitcoin rollup technology and BitVM alliance contributor. TIMESTAMPS 📌 00:00 Intro 01:09 From Marathon Patent Group to MARA 06:35 Why Owning Infrastructure is Key 07:46 First Public Companies Mining Bitcoin 09:54 Data Centers For AI vs Bitcoin Mining Facilities 14:07 How AI Data Centers Will Look Going Forward 15:37 How MARA is Diversifying From Bitcoin Mining 19:03 Private Cloud and Data Security 22:20 The Exaion Partnership 26:03 Future of Bitcoin and AI 40:22 Innovative Approaches to AI and Bitcoin Mining 42:06 Challenges and Opportunities in Power Generation 45:38 Strategic International Partnerships 50:43 The Future of Real World Assets 53:53 Bitcoin Mining in China 57:24 Why MARA Runs Their Own Software 01:00:19 Where is Bitcoin Mining Headed 01:04:17 Benefits of Running a Mining Pool 01:07:17 Heat Reuse in Mining 01:12:23 The Role of Data Centers in Power Generation
1:18:39

BITCOIN RAILS #46: BITCOIN MINING IN THE AGE OF AI | with MARA CEO Fred Thiel 🔗 YOUTUBE: 🌿 SPOTIFY: In response to the AI-driven shock in global demand for computing power, large players in the Bitcoin mining industry have been forced to make significant strategic shifts to remain competitive. MARA — the largest Bitcoin miner in the world by hashrate — is emerging as one of the more well-positioned beneficiaries of these changing tides, having transitioned from an “asset-light” strategy (via hosted mining at third-party facilities) to an “asset-heavy” approach (owning its own land, power, and infrastructure) just ahead of the AI compute wave in 2024/25. I sat down with MARA CEO Fred Thiel to discuss how these shifting industry dynamics are playing out in practice — as well as his perspective on how key mining-related security and infrastructure issues may evolve in the coming months and years. In this episode, we cover: — How MARA scaled from near-zero hash rate in 2020 to the largest Bitcoin miner globally by the end of 2023 — Key differences between operating Bitcoin mining facilities versus AI data centers, and where the two models meaningfully intersect — Why ownership of power generation — rather than reliance on PPAs — may represent a durable competitive edge for miners and AI data center operators over time — Why Bitcoin may be entering its “IPO phase,” and why recent price corrections could reflect increasing market maturity rather than structural weakness We also explore more technical and often under-discussed topics, such as heat reuse, open-source mining technologies, and the implications of US policy goals around Bitcoin mining. This episode offers a grounded, operator-level view of where Bitcoin mining is headed, informed by one of the most influential leaders in the public mining sector. This episode of Bitcoin Rails is powered by: — Best In Slot (Best in Slot | BRC2.0 🧑‍🍳) — the leading API for Ordinals and BRC-20 data aggregation and indexing. — Spark (Lightspark) — a statechains implementation advancing Bitcoin-powered payments. — Citrea (Citrea | Mainnet Live 🍊🍋) — a leading Bitcoin rollup technology and BitVM alliance contributor. TIMESTAMPS 📌 00:00 Intro 01:09 From Marathon Patent Group to MARA 06:35 Why Owning Infrastructure is Key 07:46 First Public Companies Mining Bitcoin 09:54 Data Centers For AI vs Bitcoin Mining Facilities 14:07 How AI Data Centers Will Look Going Forward 15:37 How MARA is Diversifying From Bitcoin Mining 19:03 Private Cloud and Data Security 22:20 The Exaion Partnership 26:03 Future of Bitcoin and AI 40:22 Innovative Approaches to AI and Bitcoin Mining 42:06 Challenges and Opportunities in Power Generation 45:38 Strategic International Partnerships 50:43 The Future of Real World Assets 53:53 Bitcoin Mining in China 57:24 Why MARA Runs Their Own Software 01:00:19 Where is Bitcoin Mining Headed 01:04:17 Benefits of Running a Mining Pool 01:07:17 Heat Reuse in Mining 01:12:23 The Role of Data Centers in Power Generation

Isabel Foxen Duke⚡️

31,915 views • 8 months ago

Fred Thiel Fred Thiel runs the largest public bitcoin miner. His number: a mining site costs about $1M per megawatt, all in. An AI site runs $10-15M per megawatt before a single GPU goes in. Same land, same power hookup, 10-15x the build cost. That's why Mara is converting, not mining. It already controls over 4GW after the Long Ridge and HIF deals, against 1.1GW of live mining today. The catch: Mara had no hyperscaler relationships and no build capability, so it's leaning on Starwood at 80% loan-to-value. The megawatts are real. The tenant demand is borrowed. Chase Lochmiller Chase Lochmiller of Crusoe makes the same energy-first case - the AI constraint isn't chips, it's power you can actually plug in. The tell for $MARA isn't hash rate anymore. It's how many of those gigawatts turn into signed AI leases. Thiel said it to Natalie Brunell Natalie Brunell ⚡️ on Coin Stories. How Mara funded the pivot and what breaks it:
0:56

Fred Thiel Fred Thiel runs the largest public bitcoin miner. His number: a mining site costs about $1M per megawatt, all in. An AI site runs $10-15M per megawatt before a single GPU goes in. Same land, same power hookup, 10-15x the build cost. That's why Mara is converting, not mining. It already controls over 4GW after the Long Ridge and HIF deals, against 1.1GW of live mining today. The catch: Mara had no hyperscaler relationships and no build capability, so it's leaning on Starwood at 80% loan-to-value. The megawatts are real. The tenant demand is borrowed. Chase Lochmiller Chase Lochmiller of Crusoe makes the same energy-first case - the AI constraint isn't chips, it's power you can actually plug in. The tell for $MARA isn't hash rate anymore. It's how many of those gigawatts turn into signed AI leases. Thiel said it to Natalie Brunell Natalie Brunell ⚡️ on Coin Stories. How Mara funded the pivot and what breaks it:

Podcast Alpha

35,196 views • 1 month ago

It’s no longer just about mining Bitcoin. It’s about owning the energy that powers the future of compute. ⚡️ CEO Fred Thiel joins David Lin to break down MARA’s strategy: vertical integration, the AI + Mining symbiosis, and why owning the electron can be the ultimate competitive advantage.
1:00

It’s no longer just about mining Bitcoin. It’s about owning the energy that powers the future of compute. ⚡️ CEO Fred Thiel joins David Lin to break down MARA’s strategy: vertical integration, the AI + Mining symbiosis, and why owning the electron can be the ultimate competitive advantage.

MARA

24,508 views • 9 months ago

“It’s about $1 million a megawatt all-in, between infrastructure and compute, to build a Bitcoin mining site. The AI site, just the infrastructure without compute, is $10 to $15 million a megawatt.” $MARA CEO Fred Thiel points out the math of Bitcoin miners pivoting to AI: An AI data center costs 10-15x more per megawatt to build than a Bitcoin mine but it earns far more per unit of power. And because the tenants are companies like Google, banks will actually finance it. The pricier build is the easier one to fund. Don’t miss the full interview streaming now.
5:46

“It’s about $1 million a megawatt all-in, between infrastructure and compute, to build a Bitcoin mining site. The AI site, just the infrastructure without compute, is $10 to $15 million a megawatt.” $MARA CEO Fred Thiel points out the math of Bitcoin miners pivoting to AI: An AI data center costs 10-15x more per megawatt to build than a Bitcoin mine but it earns far more per unit of power. And because the tenants are companies like Google, banks will actually finance it. The pricier build is the easier one to fund. Don’t miss the full interview streaming now.

Natalie Brunell ⚡️

45,375 views • 1 month ago

Ahead of attending today’s The White House Digital Assets Summit, MARA CEO Fred Thiel spoke with Maria Bartiromo on FOX Business and highlighted key issues MARA seeks to address during the summit: regulatory clarity in classifying Bitcoin as a commodity, reforming corporate alternative minimum taxes on digital assets, and leveraging bitcoin mining as a flexible load to enhance U.S. energy grid efficiency. Watch the full interview:
2:41

Ahead of attending today’s The White House Digital Assets Summit, MARA CEO Fred Thiel spoke with Maria Bartiromo on FOX Business and highlighted key issues MARA seeks to address during the summit: regulatory clarity in classifying Bitcoin as a commodity, reforming corporate alternative minimum taxes on digital assets, and leveraging bitcoin mining as a flexible load to enhance U.S. energy grid efficiency. Watch the full interview:

MARA

83,417 views • 1 year ago

AI doesn’t have a compute problem. It has a power problem. 160% more electricity demand by 2030, in a new report from Goldman Sachs. MARA uses Bitcoin mining to jumpstart new energy builds. So when AI shows up, the grid’s ready.
0:34

AI doesn’t have a compute problem. It has a power problem. 160% more electricity demand by 2030, in a new report from Goldman Sachs. MARA uses Bitcoin mining to jumpstart new energy builds. So when AI shows up, the grid’s ready.

MARA

15,987 views • 1 year ago

Many of the largest public Bitcoin miners have been pivoting to AI. I sat down with Fred Thiel, CEO of MARA, to ask the obvious question: does that mean they're walking away from Bitcoin? Don't miss his candid read on the future of mining and the network - some of his answers may surprise you.
1:06:34

Many of the largest public Bitcoin miners have been pivoting to AI. I sat down with Fred Thiel, CEO of MARA, to ask the obvious question: does that mean they're walking away from Bitcoin? Don't miss his candid read on the future of mining and the network - some of his answers may surprise you.

Natalie Brunell ⚡️

252,380 views • 1 month ago

THE CEO OF A BITCOIN MINING COMPANY JUST SAID BITCOIN'S DAY AS MONEY IS OVER Bitcoin bitcoin:native still works as a store of value, but he's pivoting MARA $MARA toward AI: - Bitcoin remains valuable as an asset held outside central control, portable, unless authorities shut off conversion to cash - MARA isn't accumulating more Bitcoin right now, since most miners are mining at a loss and he won't dilute shareholders to fund it - He's not less excited about Bitcoin, he's just moved it into a different box: his fiduciary duty is to convert MARA's land and power into AI, which delivers a much higher return
1:33

THE CEO OF A BITCOIN MINING COMPANY JUST SAID BITCOIN'S DAY AS MONEY IS OVER Bitcoin bitcoin:native still works as a store of value, but he's pivoting MARA $MARA toward AI: - Bitcoin remains valuable as an asset held outside central control, portable, unless authorities shut off conversion to cash - MARA isn't accumulating more Bitcoin right now, since most miners are mining at a loss and he won't dilute shareholders to fund it - He's not less excited about Bitcoin, he's just moved it into a different box: his fiduciary duty is to convert MARA's land and power into AI, which delivers a much higher return

WOLF Bitcoin

87,950 views • 1 month ago

Fred Thiel is one of the largest bitcoin miners in the world. In this conversation, Fred Thiel explains how miners decide between bitcoin & AI, why nation states are mining bitcoin, and the comparison to gold. Enjoy! YouTube: Spotify: Apple Podcast: TIMESTAMPS: 0:00 - Intro 0:36 - What does Marathon Digital do? 8:07 - Deciding between AI vs bitcoin mining 13:34 - Marathon Digital bitcoin strategy 19:06 - Evaluating what is happening at the nation state level 23:42 - Gold vs bitcoin 25:17 - Hardware in bitcoin mining
29:36

Fred Thiel is one of the largest bitcoin miners in the world. In this conversation, Fred Thiel explains how miners decide between bitcoin & AI, why nation states are mining bitcoin, and the comparison to gold. Enjoy! YouTube: Spotify: Apple Podcast: TIMESTAMPS: 0:00 - Intro 0:36 - What does Marathon Digital do? 8:07 - Deciding between AI vs bitcoin mining 13:34 - Marathon Digital bitcoin strategy 19:06 - Evaluating what is happening at the nation state level 23:42 - Gold vs bitcoin 25:17 - Hardware in bitcoin mining

Anthony Pompliano 🌪

115,280 views • 1 year ago

In just a few short years, Marathon grew its operations by more than 11,000% to become one of the world's largest and most innovative #Bitcoin mining companies. Curious how we got here? Here's the inside story. The Road to 23 Exahash. Watch now:
16:12

In just a few short years, Marathon grew its operations by more than 11,000% to become one of the world's largest and most innovative #Bitcoin mining companies. Curious how we got here? Here's the inside story. The Road to 23 Exahash. Watch now:

MARA

92,451 views • 2 years ago

$MARA chairman and CEO Fred Thiel is reminding shareholders to vote in support of the proposal on our proxy statement at our annual shareholder meeting on July 27, 2023 8:00 AM PDT. This vote is critical to allow us to grow our Bitcoin mining hash rate, invest in new technologies, expand our geographic footprint, and pursue opportunities we believe are beneficial for Marathon and Bitcoin. To vote now, visit or call 833-501-4706 if you have any questions. Learn more:
1:25

$MARA chairman and CEO Fred Thiel is reminding shareholders to vote in support of the proposal on our proxy statement at our annual shareholder meeting on July 27, 2023 8:00 AM PDT. This vote is critical to allow us to grow our Bitcoin mining hash rate, invest in new technologies, expand our geographic footprint, and pursue opportunities we believe are beneficial for Marathon and Bitcoin. To vote now, visit or call 833-501-4706 if you have any questions. Learn more:

MARA

17,581 views • 3 years ago