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Bitcoin miners halve hashrate as AI revenues nearly double in Q3 2026

Market News
15 Nov 2026, 17:05 WIB
Cointribune
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Bullish
Bitcoin miners halve hashrate as AI revenues nearly double in Q3 2026

In Q3 2026, Bitcoin miners IREN, Core Scientific, and TeraWulf nearly doubled their AI-related revenues to $478 million while their combined Bitcoin hashrate dropped by almost 50%. This shift highlights a major industry trend from Bitcoin mining to AI cloud services, with companies like IREN and Core Scientific reducing mining capacity and boosting AI operations. Meanwhile, Bitdeer increased its mining output and hashrate, offsetting declines from other miners. The transition also raises challenges in managing surplus mining equipment. The evolving focus on AI could reshape revenue models in the crypto mining sector going forward.

Bitcoin miners' shift to AI revenue growth is notable, with Q3 2026 AI-related revenues nearly doubling to $478 million while Bitcoin hashrate dropped by almost 50%. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Nov 15, 2026 21:31 WIB: out of 50 major cryptocurrencies, 7 rose and 42 fell. Notable movers include BAT at Rp1.721 with a 1-day change of -7.32% and 100% buy activity, AVAX at Rp131.381 down 6.83% with 73% sell activity, and COMP at Rp328.661 down 4.91% with 100% sell activity.

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