ChainThink report, April 17: According to Foresight News, Charles Edwards, founder of Capriole, tweeted that all major publicly listed Bitcoin mining companies have now signaled a significant pivot toward AI operations, with Bitcoin mining revenue share expected to drop from the current ~90% to just 30% within the next 2–3 years.

He views this trend as extremely concerning, noting that under the growing threat of quantum computing, the foundational security of the Bitcoin network—its hash rate—is rapidly eroding, with many miners no longer planning to upgrade or renew their Bitcoin mining hardware.

Blockstream CEO Adam Back subsequently responded, stating that this shift is actually beneficial for miners.

If network hash rate declines, mining profitability could rise instead, representing an arbitrage opportunity that will ultimately converge toward an equilibrium where mining profit margins align with AI workloads.

High profitability creates a positive feedback loop: miners will reduce selling Bitcoin to cover electricity costs, and as Bitcoin's price rises, further amplifying profit margins.