Publicly listed Bitcoin (BTC) miners are on track to generate roughly 70% of their combined revenue from artificial intelligence infrastructure by December, up from about 30% today.
Mining Pivot Accelerates
The projection comes from digital asset manager CoinShares, whose Q1 2026 mining report was cited by Bloomberg.
More than $70 billion in cumulative AI and high-performance computing contracts have been announced across the public mining sector.
The shift follows a brutal quarter for miners.
Hashprice, the measure of daily revenue per petahash, fell to around $29, levels last seen after the April 2024 halving. Bitcoin mining gross margins have dropped to roughly 60%, down from above 90% during the 2021 bull run.
Also Read: Ethereum Outflows From Binance Reach 2024 Lows, Is A Rally On The Horizon?
Industry Reshape
James Butterfill, CoinShares head of research, said AI offers structurally higher and more stable returns than mining, with cloud margins near 85%.
