Economist Peter Schiff stated on August 23 that artificial intelligence (AI) is a threat to Bitcoin, not a bullish factor, as both compete for speculative capital, electricity, and data-center infrastructure. He highlighted that Bitcoin miners are increasingly shifting resources towards AI, with CoinShares reporting public miners signed over $70 billion in AI contracts by early 2026 and could generate up to 70% of revenue from AI by year-end. Marathon Digital (MARA) notably sold approximately $1.1 billion worth of Bitcoin earlier this year to fund AI expansion. Schiff also suggested AI could uncover vulnerabilities in Bitcoin's code, though no such flaw has been identified.