Bitcoin News
By James Thorp
1 / 15
AI Is Pulling Miners Off Bitcoin. Mining infrastructure, it turns out, is pretty much exactly what AI firms need.
2 / 15
What's Left for Bitcoin Miners. Here's the part that's easy to miss: for miners who stay focused on Bitcoin, the exodus is…
3 / 15
Bitcoin's hashrate is in its first real bear market. That's the word from Rapha Zagury, CEO of Twenty One Capital, who laid it out at the Bitcoin Asia 2026 conference in Hong…
4 / 15
The network hit close to 1.3 zettahashes per second late last year. Since then it's been sliding, and it hasn't bounced back. Zagury put it plainly: "We hit close to 1.
5 / 15
Mining infrastructure, it turns out, is pretty much exactly what AI firms need. Power access, land, cooling, connectivity — data centers built for Bitcoin work just as well for…
6 / 15
So miners are moving. Not all of them, but enough to matter.
7 / 15
Keel Infrastructure went furthest — it shut down all U.S. bitcoin mining operations entirely and is repurposing those sites for AI.
8 / 15
Bitdeer went a different route but landed in the same general direction. The company signed a 16-year AI infrastructure deal worth $4.
9 / 15
Related: Bitcoin Hits $80,000 as August Sees 24% Surge, Best Since 2017
10 / 15
But Zagury's broader warning is real. Few companies are still running large-scale bitcoin mining as their core business.
11 / 15
The economics are murky. Mining companies moving to AI have to reconfigure existing facilities, which takes capital and time. It's not a simple flip of a switch.
12 / 15
Bitdeer's Norway deal alone could reach $8 billion. Hut 8's Texas lease sits at $9.8 billion over 15 years. Keel walked away from U.S.
13 / 15
See also: Arthur Hayes Declares Ethereum a Smarter Bet Than Bitcoin as BitMEX Closes
14 / 15
For dedicated miners, reduced competition is a real opportunity. But the broader question — whether Bitcoin's network security takes a hit as infrastructure drains toward AI — is…
15 / 15
What's clear is the number: 1.3 zettahashes per second, and falling.
The Currency Analytics
Want the full story?