Bitcoin Miners Abandon Rigs as AI Data Centers Offer Higher Profits

Bitcoin miners are abandoning their rigs to focus on artificial intelligence (AI) data centers, which promise higher profits. Core Scientific paid $41.9 million to cancel a deal for next-gen mining rigs as it transitions its facilities to AI.

The shift is driven by the significant revenue potential of AI infrastructure, estimated at $1.5 million per megawatt annually, tripling the profit margins of Bitcoin mining. Public miners are shutting down their operations and investing billions in AI and high-performance computing instead.

According to CoinShares' Q2 2026 report, Bitcoin's average production cost is around $75,500, while its hash price hit an all-time low of $27.70 per PH/s per day in June. Some miners are paying to stop mining as they adapt to the changing landscape.