Bitcoin Mining Industry Invests Heavily in AI Data Centers with $11 Billion Convertible Bond Boom

The Bitcoin mining industry has seen a significant investment boom, raising nearly $11 billion through convertible bonds over the past year. This surge follows a strategic shift towards artificial intelligence data centers as miners grapple with revenue shortfalls stemming from the 50% reduction in block rewards following the April 2024 Bitcoin halving. Companies like MARA, Cipher Mining, IREN, and TeraWulf have all secured substantial funding through these bond offerings.