Bitcoin Miners Abandon Ship as Rewards Plummet

Companies once focused on mining Bitcoin are now redirecting their efforts towards Artificial Intelligence (AI) due to the decline in rewards and value of the cryptocurrency.

The price of Bitcoin has fallen sharply since its peak in October 2025, from around $124,000 to a low of approximately $80,000. However, even this recent rally may not be enough for companies that have made the switch to AI, as changing back would be expensive and time-consuming.

Several Bitcoin mining firms, including TerraWulf, Ionic Digital, Core Scientific, Iris Energy, Bitdeer, Riot Platforms, and Hut 8, are now investing in AI infrastructure, signing deals with companies such as Anthropic. This shift is largely driven by the experience these companies have gained in finding cheap electricity and efficiently running large data centers.

TerraWulf's website has been updated to reflect this change, no longer describing itself as a 'bitcoin mining company' but rather focusing on 'next-generation AI and high-performance computing'. Similarly, Enegix is also pivoting towards AI, with its CEO stating that they are planning to transform a significant portion of the business to focus on AI infrastructure.