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Crypto

Bitcoin Price Recovery May Not Sway Miners from AI Leases

Guavy AI Editorial Team
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BTC
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CoinShares has raised doubts about Bitcoin's price recovery ability to lure back miners. The shift towards AI compute leases is gaining momentum, yielding 3x more profits than BTC mining.

In Q2, the average cost of mining BTC jumped to $75.5K while its price slipped to a record low of $58.4K. This has made it too expensive for miners to operate, further boosting the AI pivot trend.

CoinShares estimates that 35 EH/s hashpower will leave listed miners by the end of the year. Even a BTC price rebound is unlikely to reverse the AI transition.

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