Bitcoin Mining Attractive Entry Point Amid Industry Exodus

Twenty One Capital's CEO Rapha Zagury delivered a keynote speech at Bitcoin Asia 2026, arguing that Bitcoin mining is at its most attractive entry point in years. He claimed that public miners are abandoning the industry, citing data from CoinShares and Hut 8 that shows these companies are redirecting power and capital toward artificial intelligence and high-performance computing.

Zagury stated that AI could supply 70% of listed miners' revenue by the end of 2026, and that hashrate could return to 1.8 zettahashes per second if Bitcoin recovers towards $100,000. He also highlighted the decline in mining difficulty, which peaked at around 155 trillion in late October 2025 but fell by 7.76% in a single adjustment to 133.79 trillion in March 2026.

Zagury drew a contrast with previous market downturns, such as China's ban on mining in 2021, where the hashrate collapsed quickly and then recovered as machines were redeployed to other jurisdictions. He also addressed concerns about energy consumption, arguing that it correlates with development rather than representing waste.