Public Bitcoin miners cut hashrate 13.4% as AI infrastructure revenue grows
AI and HPC are reshaping mining economics as operators repurpose power and data centers, while a smaller group of miners continues to expand Bitcoin capacity.
Public Bitcoin miners are reducing their hashrate by 13.4%, as revenue from AI infrastructure grows, according to BlocksBridge Consulting. The decrease in mining capacity is faster than the overall Bitcoin network, indicating a shift in operators' focus towards data centers and high-performance computing (HPC). Excluding Bitdeer, which continues expanding its mining operations, the cohort's hashrate fell 21.2%, from 324.6 EH/s to 255.9 EH/s.
Bitdeer's hashrate, on the other hand, rose by 44%, reaching 63 EH/s. Meanwhile, the Bitcoin network's average hashrate declined by 10.6% over the same period. Revenue from non-mining activities, such as colocation and HPC lease revenue, is now the primary source of income for companies like Core Scientific and TeraWulf, which were once primarily focused on Bitcoin mining.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
