Bitcoin Mining Costs Exceed Price by $20k, Driving Shift to AI

Bitplanet CEO notes mining costs hit $80k vs $60k BTC price, causing $20k losses per coin and accelerating hardware migration to AI.

Woofun AI reports that Paul Lee, CEO of Bitplanet, stated Bitcoin hash rate has declined approximately 15% year-to-date due to falling crypto prices and resource reallocation to AI. Listed miners face an average loss of $19,000 per BTC, with production costs at $79,995 against a market price of $60,000. Consequently, firms are redirecting equipment to high-performance computing. In the first quarter, six major listed miners sold a record 32,000 BTC, while operations in low-cost regions like Kyrgyzstan, Paraguay, and Ethiopia expanded significantly.