Update
Bitcoin Miners Transitioning to AI
Major Bitcoin miners like IREN, Core Scientific, and Bitfarms are reducing Bitcoin production by up to 50% as they shift focus to AI and high-performance computing. Despite a 47% drop in BTC output, the Bitcoin network's hash rate has rebounded sharply, now less than 9% below its all-time high. Miners remaining in the ecosystem, such as MARA and Riot, have increased their output by 16% year-over-year, benefiting from improved BTC prices and reduced selling pressure.