Bitcoin Miners Redirect Power to AI, Sideline $1.5B in Mining Equipment

Public Bitcoin miners have shifted their focus to artificial intelligence infrastructure, resulting in a significant reduction in mining power. According to Miner Weekly, miners cut approximately 75 exahashes per second of active mining power during the first half of 2026. This decrease in mining power represents around USD 1.5 billion in mining equipment, assuming a purchase price of USD 20 per terahash per second.

The displaced capacity excludes buildings, electrical systems, cooling equipment, and installation costs. The estimate only accounts for the equivalent hardware investment, not the actual cash loss. The reduction in mining power followed a recent spending cycle, with companies adding capacity and buying more efficient equipment during the expansion.

Bitcoin's total network computing power reached the zetahash range in 2025, according to the report. IREN and Core Scientific accounted for nearly 89% of the USD 1.1 billion in accounting charges identified by TheEnergyMag. IREN recorded approximately USD 695 million in related charges between January and June 2026.

TeraWulf generated about USD 53 million in computing lease revenue during the first half of 2026, while paying USD 131 million in cash interest across its operations. The company's computing lease revenue represents one income stream, while the interest figure covers the company as a whole.