Public Bitcoin miners cut hashrate 13.4% as AI infrastructure revenue grows
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Publicly traded Bitcoin miners have reduced their mining capacity by 13.4% from Q4 2025 to Q2 2026, decreasing their realized hashrate from 368.3 EH/s to 319 EH/s, according to BlocksBridge Consulting. Excluding Bitdeer, which increased its hashrate by 44%, the decline is 21.2%. This downsizing contrasts with a 10.6% drop in the overall Bitcoin network hashrate. Meanwhile, miners like Core Scientific and TeraWulf are generating more revenue from AI infrastructure and high-performance computing (HPC) than from Bitcoin mining itself.
Why it matters
This development signals a sector shift where mining companies are increasingly repurposing their electricity and infrastructure investments from cryptocurrency mining to AI and HPC data center operations. The revenue transition for companies like Core Scientific and TeraWulf indicates growing opportunities in non-mining activities that challenge the traditional focus of the mining industry.
Key context
The mining contraction follows the expansion cycle triggered by China’s 2021 mining ban, which initially caused a sharp hashrate decline before recovery as miners relocated, particularly to North America. One mining halving later, weaker profitability and increased demand for AI infrastructure are driving companies to adjust their business models and resource allocation away from Bitcoin mining.
Key numbers and entities
BlocksBridge Consulting reported hashrate figures. Public miners' realized hashrate fell from 368.3 EH/s to 319 EH/s overall, excluding Bitdeer from 324.6 EH/s to 255.9 EH/s. Bitdeer’s hashrate increased to 63 EH/s (a 44% rise). Core Scientific earned $136.7 million from colocation revenue and $27.5 million from mining in Q2. TeraWulf reported $31.9 million in HPC lease revenue and $12.8 million from mining.
What remains unclear
The source does not flag open questions or uncertainties regarding these trends or their implications.