Third quarter shows bitcoin miners shifting from hashrate to AI leases

[Natalie99]

Bitcoin miners continue to pivot towards AI. Blockhead reports that third quarter results show several big miners earning most of their revenue from AI hosting, while others sold bitcoin to fund the change

Core Scientific bills 485 megawatts of AI colocation, which it says is worth more than $700 million a year. Hashprice ended October at $33.18 per petahash per day, down 17.5 percent from $40.24

MARA sold 17,488 bitcoin in the quarter, around 7.8 times the 2,247 it mined. MARA, Riot and Hut 8 together sold about 31,000 bitcoin

Network hashrate was about 1,069 exahashes per second on 2 November, roughly 8 percent below its record. The figures show how tough mining economics have become

Falling hashprice makes mining less profitable, so it is no surprise that companies with power and buildings are turning to AI hosting. Selling bitcoin to fund the switch shows how serious the shift is. The network still looks strong, with hashrate close to its record

Is the move to AI good for bitcoin miners? And could it affect the security of the Bitcoin network?

Bitcoin Miners' Q3 Shows Hashprice Competing With AI Leases for Every Megawattwww.blockhead.co