TLDR:
- CoinShares recorded $1.65 billion in crypto inflows across the first three trading days this week.
- Bitcoin miners’ AI revenue share could climb from roughly 30% to 70% by the end of the year.
- U.S. data center vacancy has fallen from 10% in 2019 to roughly 1% today, CoinShares reports.
- Grid connection queues now total about 2,060 gigawatts against 1,300 gigawatts of installed capacity.
Digital asset investment products pulled in $1.65 billion over the first three trading days of the week. That follows $2.94 billion the week before, the largest weekly haul of the year.
Bitcoin led with $976 million, while Ethereum drew $478 million. CoinShares also flagged a structural shift building underneath the numbers, tied to U.S. power grid constraints.
Crypto Inflows Rebuild Momentum
Total crypto exchange-traded product assets under management climbed to roughly $155 billion. Year-to-date flows turned positive again, reaching $3.4 billion industry-wide.
The United States accounted for most of the latest inflows, at $1.5 billion. Germany and Switzerland followed as the next strongest markets.
Altcoins picked up meaningful participation alongside the majors. XRP added $80.5 million and Solana brought in $62.9 million.
Hyperliquid saw $39 million enter its products. CoinShares noted these figures cover flows across all issuers globally, not its own products alone.
Bitcoin itself closed on August 26 near $78,500, having briefly touched $81,000 a day earlier. The asset reclaimed its 200-day moving average for the first time in 270 sessions.
CoinShares tied the renewed appetite to uncertainty building around Federal Reserve policy. Core PCE inflation for July rose 0.2% month over month and 3.3% year over year, both matching consensus.
Grid Constraints Reshape Miner Economics
CoinShares’ forthcoming mining report centers on a theme it calls underappreciated.
Regulatory friction, not capital, is now the binding constraint on U.S. data center construction. Bitcoin miners sit at the center of that bottleneck as a result.
Data center vacancy has fallen from 10% in 2019 to about 1% today. That level has held for three consecutive years, according to the firm. Moratoriums and development restrictions on new facilities are at record levels nationwide.
Capacity awaiting a grid connection now totals roughly 2,060 gigawatts. Total installed U.S. generating capacity sits at about 1,300 gigawatts. The queue alone runs 1.6 times the size of the country’s entire existing fleet.
New facilities now take about five years to connect to the grid, CoinShares said. That timeline gives already-energized sites a substantial premium over new development. Miners hold that infrastructure today, with no regulatory hurdle standing between mining and AI hosting.
CoinShares expects that dynamic to keep pushing miner revenue toward AI hosting contracts. The firm estimates AI’s share of listed miner revenue has climbed from around 30% toward 70% by year end. It added the figure could move higher still, depending on how quickly grid capacity opens up.
Fed Chair Kevin Warsh delivers his first Jackson Hole keynote on Friday. CoinShares said markets are watching for signals on how he reads sticky inflation against weakening consumer confidence and new home sales data.
