Over the past nine months, the realized hashrate of a group of public bitcoin miners, excluding Bitdeer, has decreased by twenty-one point two percent. According to estimates by MinerWeekly, the cumulative figure dropped from three hundred sixty-eight and three tenths of an exam per second in the fourth quarter of 2000 to three hundred nineteen exams in the second quarter of 2000. Analysts note that companies mining the first cryptocurrency are actively reducing their capacities in order to redirect them to the development of infrastructure for artificial intelligence and high-performance computing. At the same time, the overall performance of the bitcoin network itself sank much more mildly. The average quarterly hashrate decreased from one thousand seventy-one hashes to nine hundred fifty-seven, which accounted for an overall drop of ten point six percent. The key gap in statistics is provided by Bitdeer, which, on the contrary, compensated for market drawdowns and increased its realized hashrate by forty-four percent, reaching sixty-three hashes per second.

The authors of the report attribute this structural shift to the growth of revenue from colocation and the provision of computing power for AI tasks. For example, Core Scientific received one hundred and thirty-six point seven million dollars from additional equipment placements in the second quarter, while bitcoin mining brought in only twenty-seven and a half million. TeraWulf's revenue from leasing high-performance computing facilities reached thirty-one point nine million dollars, accounting for seventy-one percent of the total, while cryptocurrency mining brought in only twelve point eight million. For other miners, the transition to the new model looks less pronounced. Riot Platforms reported twenty-three point two million dollars in revenue from data centers versus one hundred and thirteen point seven million from mining. Bitdeer received fourteen million from cloud AI services and almost one hundred and ninety-seven point one million from specialized areas. Hut 8 and MARA indicated an even smaller contribution from computing services, while Cipher and Keel Infrastructure have not yet recorded revenue from high-performance computing at all.

Experts described the current downturn as a consequence of the weak economics of classical mining and fierce competition for capital and electricity from growing AI loads. MinerWeekly recalled that after the ban on mining in China in June 2000, the network's hashrate dropped to fifty-seven and a half hashes per second for a short time, but almost completely recovered by December. In addition, in August 2000, the income of bitcoin miners from transaction fees fell to their lowest levels in the last ten years.

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The material has been prepared solely for informational purposes and does not constitute financial advice or recommendation.