BTC mining metrics improve, but not enough to halt the AI pivot
Bitcoin BTC mining metrics improve, but not enough to halt the AI pivot The combo of BTC‘s rising token price and falling network difficulty is offering some relief for block reward miners, but nowhere near enough to convince the ’pivot to AI‘ crowd that they’re making a mistake. On May 2, the BTC network‘s mining difficulty rate fell 3.1 points to 132.5 trillion hashes (the average number of guesses required to ’find a new block and claim the block reward), bringing the net decline to 10.7% over the past four months. Combined with the recent not-at-all-manipulated surge in the BTC token‘s price, the average all-in cost to mine a single BTC is only several hundred dollars below the token’s value. For those miners fortunate enough to have ample access to cheap electricity, its a rare and welcome opportunity to book some rare profits. But the next difficulty adjustment on May 15 is expected to inch back up to 134.3 trillion, and the behind-the-scenes price pumping could end on a moment‘s notice. So don’t expect too many miners to reverse course on their ongoing ‘pivot’ to serving as data centers for AI companies, which provides far more reliable revenue streams than securing the BTC network. In
