{
  "id": 1730146,
  "title": "Bitcoin miners’ AI pivot pays off, but mining could revive with one twist",
  "url": "https://urgent.news/2026/08/18/bitcoin-miners-ai-pivot-pays-off-but-mining-could-revive-with-one",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T14:41:31.000Z",
  "source": {
    "name": "CoinDesk",
    "slug": "coindesk",
    "url": "https://www.coindesk.com/business/2026/08/18/bitcoin-miners-ai-pivot-pays-off-but-mining-could-revive-with-one-twist"
  },
  "original_language": "en",
  "account": "Bitcoin miners have successfully redirected their focus from bitcoin mining to artificial intelligence and high-performance computing (AI/HPC), a decision that proved profitable during a bear market. This shift became evident as the price of bitcoin plummeted by 45% in eight months, eroding miners' profit margins. The commonalities between these two industries lie in securing affordable energy deals and procuring efficient equipment to minimize downtime. Companies that secured AI and HPC contracts have outperformed those solely focused on bitcoin mining, as evidenced by their stock market performance. Early adopters such as TerraWulf, IREN, and Cipher Digital have more than doubled in value over the past year, while a laggard like MARA Holdings has seen a 40% decline. The decline in hashprice, which dropped from $63 to $31.80 per PH/s, has led many miners to shut down their operations, contributing to a significant drop in the Bitcoin network's hashrate. Despite this, the market has revalued companies with AI and HPC contracts at higher multiples compared to pure-play bitcoin miners. The industry has secured a cumulative $70 billion in AI and HPC contracts, signaling a significant shift in the mining sector. While there is still a possibility for bitcoin mining to recover if the price rises to last October's record high, the primary value now lies in controlling access to scarce power and infrastructure, which can be repurposed for other compute-intensive applications.",
  "summary": "Miners with AI and high-performance computing contracts have commanded higher valuations as declining bitcoin prices and hashprice squeeze pure-play operators.",
  "key_points": [
    "Bitcoin miners shifted focus to AI and HPC, profitable during bear market",
    "Companies with AI/HPC contracts outperformed pure-play miners by stock market value",
    "Hashrate dropped from $63 to $31.80, leading to some miner shutdowns"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}