Frederick Thiel on AI infrastructure costs
From Bitcoin Mining as a Catalyst for Green Energy Innovation | Fred Thiel of Marathon Digital Holdings · · The Merge
“An AI data center is 8 to 12 times more expensive to build just the infrastructure. Now let's start adding H100s, by some people's estimates you're talking 49 million dollars a megawatt when you're all in.”
On , Frederick Thiel, Chief Executive Officer & Executive Chairman at MARA HOLDINGS INC, spoke about AI infrastructure costs during Bitcoin Mining as a Catalyst for Green Energy Innovation | Fred Thiel of Marathon Digital Holdings on The Merge.
About Frederick Thiel
Frederick Thiel, CEO and Executive Chairman of MARA Holdings, announced the launch of the MARA Foundation at the Bitcoin 2026 conference in April. Thiel described the foundation as a new initiative dedicated to supporting the long-term strength, resilience, and accessibility of the Bitcoin network, operating independently from MARA's core business. As part of the launch, MARA awarded $100,000 to one of three nonprofit organizations chosen by a live community vote. Thiel stated that the foundation's priorities include supporting Bitcoin's long-term security, funding open-source developers, expanding access to self-custody, and advancing policy and advocacy. In recent appearances, Thiel discussed Bitcoin's role in the developing world, stating that it can be the only way for individuals to hold assets that a government cannot take overnight. He also addressed quantum computing threats, suggesting that the day major companies change their security certificates to be quantum-proof will signal when they fear a potential hack. Regarding energy infrastructure, Thiel argued that Bitcoin miners are a flexible load that can balance the grid, contrasting them with the base-load demand of AI data centers. He cited the example of Texas, where he said 2 gigawatts of Bitcoin miners were able to shut down and give power back to the grid during a winter storm, preventing a disaster. Thiel also predicted that power companies will eventually be the only entities able to mine Bitcoin at industrial scale.