CoinShares Says Bitcoin Miners' Shift to AI May Be Hard to Reverse

CoinShares said the shift of Bitcoin miners toward AI has reached a level that may be difficult to reverse even if Bitcoin itself recovers. According to ChainCatcher, at least 35 EH/s of hashrate is planned to leave publicly listed mining firms, with listed Bitcoin miner IREN expected to exit by the end of the year and Cipher potentially following by the end of 2027.