According to CoinMeta, publicly traded Bitcoin mining companies require approximately $50 billion to complete the planned infrastructure projects. The funding gaps for Iren, Riot Platforms, and Hive Digital are about $21.1 billion, $7.2 billion, and $4.6 billion, respectively. When Bitcoin mining companies expand into AI and high-performance computing, borrowing costs vary depending on clients, contracts, and project completion paths. In June, Iren secured $3.65 billion in GPU financing with a composite interest rate of 6%, and in August, it obtained another $2.4 billion in fixed-rate financing at an interest rate of 9%. In one transaction, Google agreed to provide a guarantee for a lease obligation of $1.4 billion and received warrants representing 5.4% equity of Cipher. Data from VanEck shows that at the peak of the Bitcoin bull market in October last year, mining company debt increased by about 500% compared to the second quarter of 2024. Despite the weakening Bitcoin market, mining companies' capital needs continue to rise as they shift to AI business.