From Bitcoin to AI: How crypto companies are reinventing their businesses

​Bitcoin miners are turning to AI, crypto exchanges are developing tools for autonomous software, and Jack Dorsey's Block has unveiled a voice AI model. What's driving this transformation, and could AI become a bigger business than Bitcoin itself?

Block’s new voice AI signals a broader shift

Last week, Block introduced Dessa, a voice AI model that can listen and speak simultaneously. Unlike many conventional voice assistants, it processes spoken language directly, allowing for more natural conversations with interruptions, laughter, pauses, and changes in tone.

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Dessa can run locally on sufficiently powerful consumer hardware, although it remains in limited testing. Block has not announced a public release date, and access is currently restricted to selected researchers.

The announcement comes from a company whose co-founder, Jack Dorsey, has long been one of Bitcoin's most prominent supporters. However, Block has never been exclusively a cryptocurrency company. The company operates Square, a payment platform for businesses, and Cash App, a financial services app, alongside Bitcoin products such as the Bitkey hardware wallet and Proto mining equipment. In 2020 it acquired the AI startup Dessa, whose former team members helped develop the new voice model.

Why Bitcoin miners are becoming AI infrastructure providers

For Bitcoin miners, the move into AI is largely about making better use of an increasingly valuable resource: electricity. Mining companies have spent years securing power supplies, land, and industrial facilities. As demand for AI computing grows, those assets have become attractive to data center developers.

The change is already reshaping entire businesses. In April 2026, Bitfarms became part of the newly established Keel Infrastructure group, which is shifting its focus from Bitcoin mining to AI data centers. Bit Digital, meanwhile, has been winding down Bitcoin mining while expanding Ethereum staking and AI infrastructure through WhiteFiber. Both are reducing their dependence on a business where revenue can fluctuate sharply with Bitcoin prices and mining competition.

Galaxy Digital offers a more tangible example of how the transition works. Its former Bitcoin mining site in Texas has become the Helios AI data center campus, with computing capacity leased to CoreWeave. Instead of relying on Bitcoin mining, the facility now generates revenue by providing infrastructure to an AI computing company.

However, a mining site cannot simply be turned into an AI data center overnight. AI workloads require more advanced cooling systems, high-speed networking, and specialized computing equipment. Existing electricity connections offer an advantage, but the facilities still need substantial upgrades.

Why some miners are keeping Bitcoin

Not every company sees AI as a replacement for mining. MARA and HIVE Digital Technologies are expanding into AI-related infrastructure while maintaining substantial Bitcoin operations. This allows them to benefit from potential increases in Bitcoin prices while developing additional sources of revenue.

The difference becomes clearer when looking at how these companies earn money. HIVE generated $278.3 million from cryptocurrency mining in its fiscal year ending March 2026, compared with $19.5 million from high-performance computing services. AI is growing, but mining still accounts for most of its revenue.

Other companies have moved further. TeraWulf reported $31.9 million in high-performance computing lease revenue in the second quarter of 2026, accounting for approximately 71% of its total revenue.  

Crypto companies are finding new roles in AI

The relationship between cryptocurrency and AI extends beyond mining facilities. Some companies are developing financial tools that allow AI systems to carry out transactions, manage assets, and pay for online services.

Earlier this year, Coinbase introduced Coinbase for Agents, allowing AI assistants to trade within limits set by users. In September, the company expanded the service to include stocks, ETFs, and payments for market data and AI models.

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Separately, Coinbase is developing payment infrastructure that allows AI agents to purchase digital services. Through its x402 protocol, agents can make small payments for data, software, and computing resources using stablecoins. The company is also working with Amazon Web Services on infrastructure for payments by autonomous systems.

Traditional payment companies are also experimenting with AI-driven transactions. In October, Mastercard demonstrated an AI agent making nine payments to two service providers as part of a sample marketing campaign. Coinbase supplied wallet infrastructure, while its Base network handled blockchain settlement. The demonstration showed how an AI system could purchase services within a budget approved by its operator.

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Why AI is attracting companies built around crypto

The growing interest in AI reflects a problem familiar to cryptocurrency businesses: revenue can be unpredictable. Bitcoin miners depend on cryptocurrency prices, electricity costs, and mining competition, while exchanges often earn more when trading activity increases. AI offers a way to develop businesses that are less exposed to these fluctuations.

Electricity is a particularly important factor. AI data centers require enormous amounts of power, but securing grid connections can take years. Bitcoin miners that already control suitable sites may therefore have an advantage over companies building new facilities. Long-term agreements with AI customers could also provide a more predictable source of income.              For crypto platforms, the opportunity lies partly in how AI systems handle payments. Autonomous agents may need to purchase data, software, and computing resources without constant human involvement. Stablecoins could support these transactions, particularly when payments are small, frequent, or international. However, widespread adoption will depend on whether such systems can operate securely and offer advantages over existing payment methods.

The financial stakes are considerable. Converting mining facilities into AI data centers requires expensive equipment, sophisticated cooling systems, and customers willing to make long-term commitments. Companies that secure those contracts could become less dependent on Bitcoin's price cycles. Those that invest heavily without attracting sufficient demand risk exchanging one volatile business for another.