Bitcoin miners are swapping chips for AI—yet the hash rate still climbs.
Five publicly‑listed miners—IREN, Core Scientific, Bitfarms, TeraWulf and Cipher—have redirected power to AI and high‑performance computing. Their Bitcoin output fell 47% year‑to‑date, dropping from 13,263 to 7,075 units. Production at IREN, Core Scientific and TeraWulf each fell over 50%; Bitfarms fell 49% and Cipher 18%. Together they announced more than $50 billion in AI/HPC leases, including IREN’s $9.7 billion Microsoft contract.
Meanwhile, the Bitcoin hash rate rebounded 11.7% after an >18% drop to under 900 EH/s on August 6, adding 105 EH/s since that low while roughly 35 EH/s left with the transitioning firms. New‑generation machines operated by private, sovereign‑backed and non‑US miners are filling the gap.
MARA, CleanSpark, Riot, HIVE and American Bitcoin raised combined output 16% year‑over‑year. Bitcoin’s price recovered from under $60,000 to over $80,000, boosting miner revenues and eliminating extreme outflows.
What do you think is driving the resilience of Bitcoin’s hash rate amid the AI shift?
#Bitcoin #HashRate #AI #Mining #CryptoEconomics
Five publicly‑listed miners—IREN, Core Scientific, Bitfarms, TeraWulf and Cipher—have redirected power to AI and high‑performance computing. Their Bitcoin output fell 47% year‑to‑date, dropping from 13,263 to 7,075 units. Production at IREN, Core Scientific and TeraWulf each fell over 50%; Bitfarms fell 49% and Cipher 18%. Together they announced more than $50 billion in AI/HPC leases, including IREN’s $9.7 billion Microsoft contract.
Meanwhile, the Bitcoin hash rate rebounded 11.7% after an >18% drop to under 900 EH/s on August 6, adding 105 EH/s since that low while roughly 35 EH/s left with the transitioning firms. New‑generation machines operated by private, sovereign‑backed and non‑US miners are filling the gap.
MARA, CleanSpark, Riot, HIVE and American Bitcoin raised combined output 16% year‑over‑year. Bitcoin’s price recovered from under $60,000 to over $80,000, boosting miner revenues and eliminating extreme outflows.
What do you think is driving the resilience of Bitcoin’s hash rate amid the AI shift?
#Bitcoin #HashRate #AI #Mining #CryptoEconomics
