Miner Weekly: These Miners Cut Hashrate 50% as AI Revenue Doubles

IREN, Core Scientific and TeraWulf have cut their bitcoin mining hashrate by as much as 50% while doubling revenue from AI and high-performance computing hosting, according to Blocksbridge Consulting's Miner Weekly. The shift is visible in miners' income statements as they convert power capacity and data-center infrastructure from self-mining toward AI compute contracts. The pivot matters because it reduces these companies' exposure to bitcoin price swings and halving-driven margin pressure, while tying their growth to demand from AI cloud and model-training customers. Investors should watch upcoming quarterly filings for the split between mining and AI hosting revenue, contracted HPC capacity, and whether further hashrate reductions follow as miners reprice their power portfolios.