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

This article first appeared in Miner Weekly, a weekly newsletter by BlocksBridge Consulting, curating the latest news in energy, bitcoin, and AI compute from TheEnergyMag. Subscribe to receive it in your inbox once a week.

The AI retrofit is becoming easier to see in miners’ income statements.

IREN, Core Scientific (NASDAQ: CORZ) and TeraWulf (NASDAQ: WULF) together generated approximately $478 million in AI-cloud and HPC colocation revenue in the third quarter, double the $239 million recorded in Q2. Over the same period, their combined realized bitcoin hashrate fell approximately 49%, from 32.8 EH/s to 16.8 EH/s, according to TheEnergyMag calculations based on disclosed bitcoin production.

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