Nvidia taps $20B debt market as AI boom reshapes Bitcoin mining

Nvidia has raised the stakes in the artificial intelligence infrastructure race with plans to borrow at least $20 billion from debt markets, a move that comes as Bitcoin miners increasingly reposition themselves as AI and high-performance computing providers.

According to Bloomberg, Nvidia is preparing a multi-part bond offering worth at least $20 billion to fund AI-related investments and refinance existing debt.

People familiar with the matter told Bloomberg that the chipmaker intends to issue notes across seven maturities ranging from two to 30 years, with the longest-dated bonds expected to price at about 0.9 percentage points above comparable U.S. Treasury securities.

The planned offering arrives as demand for AI infrastructure continues to attract large pools of capital. As the leading supplier of graphics processing units used to train and run large language models, Nvidia occupies a central role in the AI ecosystem, with its spending plans closely watched by investors and technology companies.

Recent expansion efforts have extended beyond the United States. As previously reported by crypto.news, Nvidia announced partnerships in South Korea with SK Hynix, Naver, SK Telecom, Doosan Group, LG Group, and Hyundai Motor Group during a visit by CEO Jensen Huang. According to Nvidia, those agreements cover memory chips, AI data centers, robotics, mobility, and industrial AI systems.

Bitcoin miners pursue AI revenue streams

Growing investment in AI infrastructure has opened new opportunities for Bitcoin mining companies, many of which already control large amounts of power capacity and data center infrastructure.

Companies including HIVE Digital, TeraWulf, Hut 8, and CleanSpark have increasingly promoted AI and high-performance computing services alongside their traditional mining operations.

By repurposing existing facilities and leveraging power agreements originally secured for Bitcoin mining, these firms are seeking revenue sources that are less dependent on cryptocurrency market cycles.

Industry data suggests investors have responded positively to the trend. As reported by crypto.news, while Bitcoin declined roughly 17% during the opening months of 2026, a basket of Bitcoin mining stocks gained more than 50%, with the strongest performers advancing over 70%.

Notably, publicly traded miners have announced more than $70 billion in cumulative AI and high-performance computing contracts. Industry projections referenced by crypto.news suggest listed mining companies could derive as much as 70% of their revenue from AI activities by the end of 2026, up from around 30% today.

Mining margins remain under pressure

Despite growing enthusiasm around AI, many miners continue to face challenges in their core business.

Following Bitcoin’s April 2024 halving, higher mining difficulty and operating expenses have compressed profit margins across the sector.

Some market observers have described current conditions as the harshest margin environment the industry has experienced, prompting miners to reduce leverage, liquidate portions of their Bitcoin holdings, and search for alternative sources of income.

According to data from TheEnergyMag, Bitcoin miners sold more than 15,000 BTC between October and March as companies adjusted to tougher operating conditions.

Recent results from Canaan illustrate those pressures. According to the company’s June operational update, the Nasdaq-listed miner produced 90 BTC during the month and received another 24 BTC from customers. At the same time, Canaan’s first-quarter earnings report projected second-quarter revenue between $35 million and $45 million, well below analyst expectations of roughly $96 million.

Regulatory hurdles have also emerged. As previously reported by crypto.news, Canaan received a second Nasdaq non-compliance notice in January after its share price remained below the exchange’s $1 minimum bid requirement. The company has until July 13, 2026, to regain compliance.