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Market Insights

AI is Repricing the Crypto World: A Three-Year Outlook on Bitcoin, Ethereum, and Computing Capital

March 12, 2026

Introduction: From “Blockchain” to “Computing Capital”

For the past decade, the core narrative of the crypto industry revolved around “blockchain” technology. However, standing at the threshold of 2026, the forces reshaping the industry’s structural foundation have shifted. We are entering a new era driven by computing power, energy, and infrastructure.

Two significant market signals have recently emerged: major mining firms are accelerating the sale of Bitcoin reserves to transition into AI data centers, while Ethereum staking has reached record highs post-PoS. These are not isolated events; they are evidence that AI is fundamentally repricing the entire digital asset ecosystem.

1. The Great Pivot: Miners as Infrastructure Providers

Traditional cryptocurrency mining is evolving into an “Energy + Data Center Infrastructure” industry. Since October 2025, publicly traded mining companies have sold over 15,000 BTC to fund this transition.

Capital Allocation Shift:

Traditional Focus: BTC MiningNew Focus: AI Computing
ASIC MinersGPU Clusters
Power ResourcesPower Resources
Basic Data CentersTier-3/4 Data Centers

This logic is clear: as AI becomes the primary destination for global tech capital, miners are leveraging their first-mover advantage in power procurement and facility management. They are transforming from mere asset holders into essential producers for the AI age.2. Asset Divergence: Digital Gold vs. Digital Bonds

In the current capital structure, the value propositions of Bitcoin and Ethereum are decoupling.

  • Bitcoin (BTC): Its core value is derived from scarcity, decentralization, and its role as a macro hedge. Currently representing only about 0.15% of global financial assets, BTC’s long-term price models suggest a range of $170,000 to over $300,000 if it captures 25%-50% of gold’s market cap.
  • Ethereum (ETH): With a mature PoS mechanism, ETH is increasingly viewed as a “Digital Bond of the Internet Age.” Investors are looking at it through the lens of network economics—gas fees, DeFi utility, and L2 settlements—offering a steady yield of 3%–5%.

3. Global Capital Flow: The Three-Year Roadmap

We anticipate that global tech capital will move through three distinct phases over the next three years:

  1. Phase I: Institutionalization of Bitcoin With the maturity of ETFs and institutional products, BTC is being officially integrated into global macro asset allocation frameworks.
  2. Phase II: The AI Infrastructure Boom Capital is shifting aggressively from traditional crypto VC plays toward AI computing and physical data center infrastructure.
  3. Phase III: The AI + Crypto Fusion The emergence of a “Machine-to-Machine Economy,” where AI Agents utilize decentralized networks for autonomous payments and resource settlement.

4. The New Hierarchy of Digital Assets

In the future digital economy, three core assets will form a collaborative structure:

Asset TypePrimary Role
BitcoinDigital Gold; Store of value and macro asset allocation.
EthereumFinancial Infrastructure; Settlement layer for stablecoins and on-chain economy.
AIThe primary productive force of the new industrial revolution.

In terms of capital scale and industrial impact, the hierarchy is shifting toward: AI > BTC > ETH. AI will attract the largest share of productive capital, while BTC and ETH provide the underlying layers for value storage and settlement.

Conclusion: 5 Key Indicators for Investors

For those looking to navigate this repricing cycle, we recommend monitoring these five metrics:

  1. Net inflows into BTC ETFs
  2. Ethereum staking ratios
  3. Total supply of global stablecoins
  4. Growth curves in AI computing demand
  5. Real yields within the ecosystem

As DePIN (Decentralized Physical Infrastructure Networks) continues to turn physical assets into globally tradable digital resources, computing power will prove to be a more disruptive force than the “chain” itself.

About Jenga Andersen: As a strategic platform for Andersen Global in Asia, we provide cutting-edge insights into compliance and capital strategies for globalized enterprises. For inquiries regarding cross-border structuring, computing asset allocation, or Singapore regulatory frameworks, please contact our advisory team.