BlackRock is advising clients to view artificial intelligence (AI) as an energy-intensive sector, not just software. According to BlackRock Investment Institute's 2026 Global Outlook, AI-driven data centers could consume up to 24% of US electricity by 2030, potentially impacting utility capital expenditure and industrial locations. This surge in energy demand could threaten the relationship between crypto and AI, particularly for Bitcoin miners who rely on cheap, interruptible power. While Bitcoin mining has historically leveraged flexible energy consumption, AI data centers require constant baseload power, leading to potential conflicts over grid access. The AI boom is capital-intensive, with trillions expected to be spent on compute, data centers, and energy infrastructure, intensifying the competition for megawatts.

BlackRock is advising clients to view artificial intelligence (AI) as an energy-intensive sector, not just software. According to BlackRock Investment Institute's 2026 Global Outlook, AI-driven data centers could consume up to 24% of US electricity by 2030, potentially impacting utility capital expenditure and industrial locations. This surge in energy demand could threaten the relationship between crypto and AI, particularly for Bitcoin miners who rely on cheap, interruptible power. While Bitcoin mining has historically leveraged flexible energy consumption, AI data centers require constant baseload power, leading to potential conflicts over grid access. The AI boom is capital-intensive, with trillions expected to be spent on compute, data centers, and energy infrastructure, intensifying the competition for megawatts.