#Bitcoin just flashed a signal most people will ignore.

For the first time in 6 years, hashrate dropped in Q1.

Not because demand is gone…

But because miners are chasing something more profitable: AI.

Mining now costs ~$80K per $BTC while price sits lower → margins crushed.

So what happens?

• Miners shut rigs

• Sell BTC

• Redirect capital to AI data centers

Hashrate down ≠ weak network

It’s capital rotation.

Short term: pressure

Long term: smarter, leaner network

The real question:

Is AI quietly becoming Bitcoin’s biggest competitor for energy and infrastructure?