Bitcoin Miners Bet Big on AI as Hash Prices Plummet
Bitcoin miners are shifting their focus towards artificial intelligence (AI) infrastructure as hash prices have fallen to cyclical lows. According to CoinShares' Q1 2026 Bitcoin Mining Report, listed miners could derive up to 70% of revenue from AI infrastructure by the end of 2026, up from roughly 30% today.
The report notes that AI infrastructure offers higher and more stable returns compared to mining. This has led some miners with scalable energy access and existing data-center capabilities to redirect resources towards high-performance computing.
However, this shift does not necessarily describe a broad retreat from US mining infrastructure. CoinShares' analysis suggests that the US share of global hash rate rose by roughly two percentage points quarter over quarter.