Bitcoin News
By James Thorp
1 / 15
How Bad Is the Hashrate Decline. The combined hashrate of public miners fell 13.4% from Q4 2025 to Q2 2026.
2 / 15
This Isn't China 2021. People keep comparing the current hashrate drop to China's 2021 mining ban, which cut the…
3 / 15
What the Numbers Actually Mean. Colocation and HPC revenue are still small in absolute terms for most of these companies.
4 / 15
Public bitcoin miners are cutting hashrate — fast. A 21% drop over recent months tells you everything about where the money is moving right now.
5 / 15
Core Scientific basically isn't a bitcoin miner anymore. In Q2 2026, the company pulled in $136.7 million from colocation services and just $27.
6 / 15
Riot Platforms reported $23.2 million in data center revenue against $113.7 million from mining, so mining still dominates for Riot.
7 / 15
The combined hashrate of public miners fell 13.4% from Q4 2025 to Q2 2026. The broader Bitcoin network's average hashrate dropped too, though at a slower pace — 10.6%.
8 / 15
Cango is a clear example of how fast this can happen. The company entered the market in late 2024, peaked at 50 EH/s, then started decommissioning inefficient machines almost…
9 / 15
Keel Infrastructure went further. The company completed the full decommissioning of its U.S. mining operations to prepare for data center construction.
10 / 15
See also: Adam Back vs. Peter Todd: Bitcoins 21 Million Cap Debate Splits Core Developers
11 / 15
People keep comparing the current hashrate drop to China's 2021 mining ban, which cut the network's computing power roughly in half almost overnight.
12 / 15
What's happening now is different. There's no single triggering event. It's a slower grind driven by weaker mining economics, rising electricity costs, and the fact that AI…
13 / 15
And that's kind of the key point. Bitcoin miners, almost uniquely among tech operators, already own the land, power contracts, and cooling systems that AI data centers need.
14 / 15
MARA and American Bitcoin have kept expanding their mining operations, but those gains haven't been enough to offset what other companies are pulling back.
15 / 15
More context: Bitcoins Last 929,465 Coins Will Take Over 100 Years to Mine
The Currency Analytics
Want the full story?