Crypto

Bitcoin Miners Flock to AI as Hashrate Declines

Guavy AI Editorial Team Published September 2, 2026

Instruments

BTC

The Bitcoin mining industry is undergoing significant changes due to declining hashrate and increasing competition from AI contracts. According to Twenty One Capital CEO Rapha Zagury, this marks the network's first-ever 'hashrate bear market,' where computing power remains below its peak for a prolonged period.

Hasrate measures the total computing power securing the BTC network, which peaked between 1.15 and 1.4 ZH/s in late 2025 but has since declined to around 800-950 EH/s. This drop, lasting over 316 days without a new high, is attributed to miners leaving Bitcoin for AI contracts that offer more stable revenue.

Several major miners have signed multi-year hosting deals with AI companies, providing steadier income than mining rewards currently offer. Lower BTC prices earlier in 2025 squeezed hashprice, making AI and HPC contracts more attractive to miners.

Bitcoin Miners Flock to AI as Hashrate Declines

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