According to CoinMeta, and based on the analysis by The Energy Mag, listed mining companies have reduced their actual BTC computing power by 23% in order to shift to AI business. The revenue of relevant mining companies HPC and AI has increased by 52% month-on-month, and for some companies, HPC / AI revenue has surpassed mining revenue. The median revenue per megawatt-hour for AI cloud services is about $940, which is more than five times that of S23 HYD miners and over eight times that of S21 Pro. HPC hosting revenue is around $175, which is comparable to mining revenue; however, hosting revenue is usually based on multi-year contracts and the electricity costs can be passed on to customers. The 14 mining companies included in the statistics spent $18.6 billion in capital expenditures in a single quarter, which is nearly 15 times their revenue.