Bitcoin Miners Cut Hashrate as AI Revenue Takes Over

Public Bitcoin miners are pulling back mining capacity faster than the overall network, as more firms shift power and infrastructure toward AI and high-performance computing.

Realized hashrate among major public miners fell 13.4%, from 368.3 EH/s in late 2025 to 319 EH/s by mid-2026, according to BlocksBridge Consulting.

Excluding Bitdeer, which kept growing its mining output, the drop was steeper at 21.2%. The Bitcoin network’s overall hashrate fell just 10.6% in comparison.

Core Scientific and TeraWulf now earn most of their income from non-mining sources, with colocation and HPC leasing revenue far outpacing Bitcoin mining earnings. Riot Platforms and Bitdeer remain focused mainly on mining for now. Analysts see this as a correction following the mining boom that followed China’s 2021 crackdown, as AI demand reshapes the industry’s economics.