Public Bitcoin miners cut hashrate 13.4% amid AI infrastructure growth
Public Bitcoin miners have reduced their hashrate by 13.4% as they shift focus towards AI infrastructure and high-performance computing.
The reduction in hashrate is attributed to miners redirecting electricity and infrastructure towards data centers.
Core Scientific generated $136.7 million in colocation revenue, compared to $27.5 million from Bitcoin mining, while TeraWulf reported $31.9 million in HPC lease revenue, compared to $12.8 million.