Crypto
Bitcoin Miners Cut Operations Amid AI Data Center Power Surge
US Bitcoin miners are struggling to stay competitive due to the increasing demand for electricity from AI data centers. According to recent data, the hashrate of Bitcoin mining dropped by 15-21% in 2026 as miners began to pivot towards AI and high-performance computing contracts worth up to $90 billion.
Miners hold an advantage when it comes to power capacity but face a significant funding gap of around $50 billion to transition fully. Regulatory limits and the Bitcoin halving event have also put pressure on mining profitability, raising questions about the future balance between mining and AI hosting in the energy grid.