CryptoSlate
SpaceX has signed Anthropic to consume the full computing power of its Colossus 1 facility in Memphis, giving the Claude maker more than 220,000 Nvidia processors and roughly 300 megawatts of new capacity within a month. The added horsepower is already letting Anthropic double Claude Code rate limits for paid plans, lift peak-hour usage caps for Pro and Max accounts, and sharply increase developer request volume for its Claude Opus models. The deal gives SpaceX a marquee AI customer at the very moment it is trying to show investors that its infrastructure ambitions extend well beyond rockets and Starlink.
Why it matters
The agreement lands directly in the lane Bitcoin miners have spent the last 18 months trying to occupy: converting cheap, large-scale power into AI revenue. Miners like TeraWulf, Core Scientific, Cipher, Hut 8, IREN, and Bitfarms have all repositioned around AI colocation, HPC contracts, and GPU cloud services, with CoinShares estimating public miners could pull as much as 70% of revenue from AI by year-end versus roughly 30% today. The pivot was forced by the 2024 halving and a brutal Q4 2025 / Q1 2026 stretch in which hashprice collapsed to about $29 per petahash per second per day — a five-year low that hit operators with older fleets and high power costs hardest. The market is already paying for the shift: CoinShares puts miners with secured HPC contracts at roughly 12.3x enterprise value to next-12-month sales, versus 5.9x for pure-play miners, a roughly 2x re-rating driven by power access rather than block rewards.
Market impact
SpaceX changes the competitive map because it can deliver what miners are still assembling — immediate scale, a frontier AI customer, and a platform with broader ambitions. Modular Capital and Artemis both argue the binding constraint on AI buildout is power, not chips: data centers already consume 3-4% of US grid demand and could reach 12% by 2028 against hyperscaler capex near $650 billion this year, with ERCOT sitting on roughly 458 GW of pending interconnection applications and PJM large-load interconnections broadly stalled.
Frequently asked questions
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What did SpaceX actually announce with Colossus 1 and Anthropic?
SpaceX signed Anthropic to use the full computing power of its Colossus 1 facility in Memphis — more than 220,000 Nvidia processors and roughly 300 MW of new capacity, coming online within a month. Anthropic said the added capacity is already letting it double Claude Code rate limits and lift peak-hour usage caps for…
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Why is this a problem for Bitcoin miners pivoting to AI?
Public miners have spent 18 months repositioning around AI colocation and HPC, with CoinShares estimating they could pull as much as 70% of revenue from AI by year-end. The market is rewarding the shift — miners with secured HPC contracts trade near 12.3x EV/NTM sales, versus 5.9x for pure-play miners — but SpaceX can…
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How bad has Bitcoin mining economics actually gotten?
CoinShares said Q4 2025 was the most difficult period for miners since the 2024 halving, and Q1 2026 was worse. Hashprice fell to about $29 per petahash per second per day — a five-year low — as Bitcoin's price correction and near-record hashrate squeezed operators with older fleets and higher power costs.
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Is the AI buildout really bottlenecked on power rather than chips?
Both Artemis and Modular Capital argue power is the binding constraint. Modular estimates data centers already consume 3-4% of US grid demand and could reach 12% by 2028 against hyperscaler capex near $650 billion this year, with ERCOT sitting on roughly 458 GW of pending interconnection applications and PJM…
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What is the long-range orbital data center idea Anthropic is exploring with SpaceX?
Anthropic said it is interested in working with SpaceX on multi-gigawatt orbital data centers — a long-range concept that would use solar power in space. The plan would require major technical and capital commitments and is not near-term, but it signals how broadly the competitive field for power-to-compute conversion…
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