Crypto
Bitcoin Miners Flee to AI as Hasrate Bear Market Hits
The cryptocurrency market is experiencing significant changes as miners shift their focus from Bitcoin to AI infrastructure. According to Rapha Zagury, CEO of Twenty One Capital, a Tether-backed treasury company, this marks the first-ever hashrate bear market for Bitcoin.
Bitcoin's hashrate has dropped from a peak of 1.3 ZH/s at the end of 2025, and this decline differs from previous scenarios where miners primarily relocated in response to regulatory challenges.
The shift towards AI technologies indicates a fundamental change in how mining companies operate, and Twenty One Capital's insights reflect the changing landscape of cryptocurrency mining.