Matt Schultz, CEO of Bitcoin mining company CleanSpark, stated at the Bitcoin 2026 conference that after upgrading mining facilities to AI data centers, the cost per megawatt increased from approximately $500,000 to $10-12 million, and the workforce also grew from about 1 person per 10MW to about 8 people. He warned that the mining industry should not focus solely on short-term stock price increases due to contract announcements, pointing out that even a single day's delay could wipe out a year's worth of contract revenue due to the very strict lease terms of major cloud providers.
