Three listed mining companies have disclosed multi-year agreements to host general-purpose compute workloads at sites originally built for bitcoin mining, according to their filings and investor presentations.
The logic is straightforward: the scarce asset was never the machines, it was interconnection capacity and cheap power. Compute tenants pay contracted rates rather than exposing the operator to hashprice.
Conversion is not free. Higher-density workloads require different cooling, redundancy and network commitments than mining halls were designed to provide, and two of the three disclosed substantial capital expenditure.
Mining economics remain the base business for all three, and hashprice sensitivity still dominates their earnings.
Capacity figures cited here are the companies' own disclosures. We have not independently verified energised capacity at each site.
