Bitcoin Miners Shift Focus Towards Data Centers Amid Weaker Mining Profits

Publicly traded Bitcoin miners have begun cutting their mining capacity at a faster rate than the overall decline in the Bitcoin network's hashrate, indicating that they are shifting their focus towards data centers and high-performance computing (HPC).

A recent report by BlocksBridge Consulting found that the realized hashrate among a group of public Bitcoin miners fell from 368.3 exahashes per second (EH/s) in Q4 2025 to 319 EH/s in Q2 2026, representing a decline of 13.4%.

This contraction was even more pronounced when excluding Bitdeer, which continued to expand its mining operations. Without Bitdeer, the cohort's realized hashrate fell by 21.2% over the six-month period, from 324.6 EH/s to 255.9 EH/s. Meanwhile, Bitdeer's realized hashrate increased by 44% to 63 EH/s.

For comparison, the Bitcoin network's average hashrate declined by 10.6% over the same period.