AI | Another Crypto Mining Firm Shifts Focus to AI Infrastructure with a $6 Billion Deal

Cloud computing firm, and a former crypto mining company, CoreWeave, has signed a $6 billion agreement to supply artificial intelligence computing capacity to quantitative trading firm, Jane Street, deepening ties between financial markets and AI infrastructure.

The latest deal comes after a Q1 2026 CoinShares report revealed that roughly 15-20% of global Bitcoin mining firms are unprofitable due to running older hardware and high electricity costs. The structural difficulties are already showing following a Bitcoin mining difficult drop of about 7.7%, one of the sharpest declines in 2026.

Under the deal, Jane Street will use CoreWeave’s cloud platform across multiple data centers to support its trading and research operations including large-scale machine learning workloads, the companies said.

Jane Street also agreed to invest $1 billion in CoreWeave’s Class A shares at $109 per share increasing its stake and making it one of the company’s largest shareholders.

The agreement comes amid surging demand for high-performance computing as firms race to build and deploy AI models. It marks one of several major deals for CoreWeave in recent weeks, following agreements with AI firm, Anthropic, and an expanded multibillion-dollar partnership with Meta.

CoreWeave now serves 9 of the 10 major developers of large language models (LLMs) for artificial intelligence (AI).

CoreWeave, which began as a cryptocurrency mining company before pivoting to AI infrastructure, has emerged as a key provider of GPU-based cloud services to enterprises seeking access to advanced computing power.

The company is among the earliest of crypto mining firms to pivot into an AI infrastructure company as early as 2019 as the crypto mining sector faced a prolonged pressure after the 2018 crypto market downturn.

Stay tuned to BitKE for insights into the evolving Bitcoin mining space.

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