Bitcoin miners face uneven borrowing costs for AI expansion

Bitcoin miners have secured AI financing at sharply different rates, with IREN’s 6% and 9% agreements showing how project terms have shaped borrowing costs, according to BlocksBridge Consulting. IREN secured separate $3.65 billion and $2.4 billion financing packages at 6% and 9%. BlocksBridge said lenders increasingly assess customers, contract terms and the route to project completion. Google’s backing of Cipher lease obligations included warrants representing approximately 5.4% of its equity. A June analysis estimated public miners needed roughly $50 billion to complete planned AI infrastructure. BlocksBridge Consulting, in its Oct.