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Bitcoin hashrate slides as major miners redirect data centers to AI computing
Bitcoin's network hashrate is falling as large mining firms shut down rigs and convert capacity to AI-focused data centers. The shift follows an earlier peak near 1.2K EH/s in early 2026, with miners chasing higher returns from AI compute than BTC mining revenue per megawatt. Companies cited include Core Scientific, Bit Digital and Iris Energy, alongside reported multi-billion-dollar AI contracts signed in late 2025 and early 2026.