Anthropic’s 3.5 GW TPU Deal Intensifies AI’s Power Race With Bitcoin Miners

Anthropic said April 6 that it had secured access to roughly 3.5 gigawatts of next-generation TPU compute capacity through agreements involving Google and Broadcom beginning in 2027, marking its largest infrastructure commitment to date.

The agreement centres on next-generation Tensor Processing Units (TPUs), Google’s custom accelerators designed for large-scale AI training and inference workloads.

Anthropic and Broadcom Disclose the Scope of the TPU Agreement

In an announcement on April 6, Anthropic said it had signed a new agreement with Google and Broadcom for multiple gigawatts of next-generation TPU capacity coming online from 2027. Chief Financial Officer Krishna Rao described it as the “company’s most significant compute commitment so far.”

The 3.5 gigawatt figure came from Broadcom rather than Anthropic. In an 8-K filing, Broadcom said its expanded collaboration with Google and Anthropic would let Anthropic access approximately 3.5 gigawatts of TPU-based AI compute from 2027 as part of the broader multi-gigawatt commitment.

The filing added that consumption of that capacity depends on Anthropic’s continued commercial success and that the parties are still in discussions with operational and financial partners on the deployment.

Anthropic Ties the Compute Deal to $30 Billion in Run-Rate Revenue

In the same announcement, Anthropic said in the announcement that its annualised run-rate revenue had passed $30 billion. The company said the number of business customers spending more than $1 million annually on Claude had risen from 500 to over 1,000, more than doubling since February.

Anthropic presented those figures as the commercial backdrop for the compute commitment, tying expanded enterprise demand to the need for additional training and inference capacity. The agreement deepens Anthropic’s existing relationships with Google Cloud and Broadcom and sits alongside its existing capacity on Amazon Web Services Trainium infrastructure and Nvidia GPUs

Anthropic’s 3.5 GW Contract Approaches Global Bitcoin Mining Power Use

The 3.5 gigawatt figure was disclosed by Broadcom rather than Anthropic itself. Estimates from the Cambridge Centre for Alternative Finance place global Bitcoin network electricity consumption in the low double-digit gigawatt range, depending on modelling assumptions.

The comparison focuses on scale rather than displacement, as a single AI customer is now contracting for power volumes in the same order of magnitude as an entire global industry. With other hyperscalers also signing multi-year, multi-gigawatt deals, AI is becoming a larger competitor for the inputs miners depend on, including grid interconnects, permitted sites, cooling infrastructure, and long-duration power contracts.

Core Scientific, IREN, and Hut 8 Expand AI and HPC Hosting Lines

Several large listed miners have already moved to capture some of that AI demand directly rather than compete with it head-on. Core Scientific has signed long-term high-performance computing hosting contracts with CoreWeave. IREN markets itself across Bitcoin mining, AI cloud, and AI data centre services. Hut 8 has reported a growing compute revenue line tied to AI and high-performance computing hosting.

Together, these shifts show several large miners building AI hosting businesses alongside their mining operations. The Anthropic deal does not change that direction on its own, but it adds to the growing pipeline of contracted AI infrastructure demand that several mining operators are positioning to serve.