CoinShares: Bitcoin price recovery unlikely to lure miners who have shifted to AI back

BlockBeats news, September 15: CoinShares predicts that even if Bitcoin prices recover further, Bitcoin mining companies that have pivoted to AI infrastructure are unlikely to return to mining operations.

In its latest Q2 Bitcoin mining report, CoinShares stated that at least 35 EH/s of hashrate has been scheduled to exit listed mining companies, equivalent to about 4.7% of the current Bitcoin network hashrate of approximately 750 EH/s. Currently, AI infrastructure generates about $1.5 million in profit per megawatt for the companies involved, while Bitcoin mining yields about $500,000. Meanwhile, the average pre-tax cash cost for listed mining companies to produce 1 BTC in Q2 was approximately $75,500.