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Tue, 25 Aug 2026

Tue, 25 Aug 2026 AI gold rush draws crypto firms away from Bitcoin

The price of Bitcoin has risen in August but is still far below its peak almost a year ago - and companies are refitting their mines.
Companies have invested heavily in infrastructure and now see opportunity in AI as a more profitable use Industry analysts predict continued shift away from Bitcoin mining despite recent price rally Major players such as TerraWulf, Ionic Digital, and Core Scientific are making the switch Refitting crypto mines for AI is expensive and companies have had to sell some of their Bitcoin holdings to fund the change Switching back to Bitcoin mining may be difficult due to long-term commitments made for AI infrastructure Some companies, like Bitdeer, plan to continue mining Bitcoin while pursuing a dual-purpose model