A new debate questions whether Bitcoin miners pivoting to artificial intelligence could threaten network security. Crypto trader Ran Neuner warns that AI’s higher electricity payments are drawing miners away, potentially weakening Bitcoin. Others, like Bitcoin pioneer Adam Back, argue the network’s design will automatically adjust.
Crypto trader Ran Neuner declared “AI has killed Bitcoin forever,” arguing AI data centers are Bitcoin mining’s biggest competitor. He stated AI offers revenue of $200 to $500 per megawatt, up to eight times Bitcoin’s $57 to $129 range. Major miners like Core Scientific, MARA Holdings, and Hut 8 have recently signaled moves toward AI ventures.
Cipher Mining reduced its hashrate for AI compute, and Bitmain cofounder Jihan Wu has also pivoted. Neuner contends this exodus reduces network security and raises the risk of a 51% attack. He noted Bitcoin’s hashrate has already fallen 14.5% from its October peak, stressing “this time is different because we don’t have the energy.”
Bitcoin pioneer Adam Back countered this view on a different point. He argued the network’s difficulty adjustment would simply push out the least efficient miners. “Bitcoin mining profitability converges to AI profitability,” Back stated.
Investor Fred Krueger similarly noted miners would turn off until the next adjustment made operations profitable again. Bitcoin ESG specialist Daniel Batten disagreed with the premise that AI is a direct threat. He argued Bitcoin mining can use stranded energy and act as a grid balancer, claiming evidence shows “AI is dependent upon Bitcoin for its expansion.”
Neuner suggested a rising Bitcoin price could prevent an AI-dominated doomsday scenario. “What I hope is that Bitcoin has one green candle,” he said. Bitcoin has recorded five consecutive monthly red candles, a pattern not seen since the 2018 bear market.
March is currently showing a potential reversal, with the asset gaining 8% so far this month according to CoinGlass data. Bitcoin mining profitability, or hashprice, remains near an all-time low as data from HashRateIndex shows.
