AI Data Centers Demand to Surge 220% by 2030, Forecasts Goldman Sachs

• Data center power demand is expected to surge by 220%, reaching a record 1,350 TWh by 2030.
• The US-Iran war disrupted energy flows as AI data centers increase global power demand.
• Rising energy costs could impact short-term BTC mining, but create long-term infrastructure growth.

Goldman Sachs forecasts that AI data centers will drive global power demand up 220% to 1,350 TWh by 2030. Rising tensions in the Middle East constrain energy supply, push electricity costs higher, and pressure Bitcoin (BTC) miners, while creating major opportunities in decentralized compute and on-chain energy infrastructure.

Data Center Power Demand Expected to Surge 220%

Global data center power demand is projected to surge 220% from 2023 levels, rising to approximately 1,350 TWh by 2030, according to the latest upward revision from Goldman Sachs Research. This update raises the bank’s forecast from its previous outlook of a 175% increase.

Meanwhile, the United States is expected to account for 60% of this growth, up from 50% in prior estimates, reaching approximately 750 TWh. In comparison, US data center capacity is projected to surge 197% to a record 95 gigawatts.

Strait of Hormuz Disruptions Tighten Global Energy Supply

US and Israeli military strikes on Iran triggered the effective closure of the Strait of Hormuz, halting nearly all shipping traffic through the critical shipping route since late February 2026. Iranian forces declared the strait closed, attacked vessels, and restricted passage, reducing daily transits from around 140 ships to fewer than 10 in recent weeks. 

The blockage cut off roughly 20% of global oil supply and a similar share of LNG exports, mainly from Qatar. Strikes on Qatar’s Ras Laffan LNG complex and other Gulf infrastructure worsened shortages, pushing Qatari LNG offline and tightening global supply. Oil prices surged, with Brent briefly trading between $100 and $120 per barrel amid physical scarcity.

These geopolitical constraints have amplified the surge in demand, driving higher industrial electricity prices worldwide. US wholesale power prices are projected to rise 8.5% in 2026 as data centers and large consumers compete for limited grid capacity, putting sustained upward pressure on energy costs.

What’s The Impact on Bitcoin Mining?

BTC mining, which consumes roughly 100–195 TWh annually, now faces intensified competition for power from surging AI data centers. AI hyperscalers outbid miners for low-cost contracts, squeezing margins as mining revenue per kWh remains far below that of AI workloads.

Rising power competition between BTC miners and data centers tightens profitability in the short term and increases potential BTC selling pressure from stressed miners. Miners compete directly with data centers for low-cost electricity, which could raise operating expenses, trigger curtailments in high-cost regions, and force some operators to reassess their infrastructure strategies.

Over the long term, persistent energy constraints could support the development of decentralized infrastructure solutions. Emerging models such as DePIN networks and distributed compute platforms may offer more flexible alternatives, while on-chain energy markets and miner-integrated systems continue to evolve as potential responses to global power challenges.

Related: AI Won’t Kill Bitcoin Mining, Says Analyst Van de Poppe as Hash Rate Stays Strong