Bitcoin Miners Flee to AI as Hashrates Hit New Lows
Bitcoin miners are pivoting to AI due to higher profitability, sparking debate over Bitcoin's security and future value.Summary
A significant debate has emerged as Bitcoin miners increasingly shift operations to Artificial Intelligence (AI) hosting, driven by AI data centers offering revenues up to eight times higher per megawatt than Bitcoin mining. Figures like crypto trader Ran Neuner argue this pivot, evidenced by major miners securing AI hosting credits or signing infrastructure deals, threatens Bitcoin's security by lowering hashrates and increasing the risk of a "51% attack." However, others, including Bitcoin pioneer Adam Back and investor Fred Krueger, contend that the network's automatic difficulty adjustments will compensate by forcing out the least efficient miners and restoring profitability, which is the network's designed mechanism. While Neuner suggests falling hashrates signal a potential "doomsday scenario" if BTC prices don't rise, others argue that Bitcoin mining can utilize stranded energy and flexible load balancing, making it less dependent on high energy costs. The outcome hinges partly on Bitcoin's price action, with a significant price increase potentially mitigating the competitive pressure from AI.
(Source：Cointelegraph)