Bitcoin Mining Output Falls 47% as Hashrate Reclaims 1 ZH/s

Key Insights: Bitcoin mining companies have seen their Bitcoin production cut by up to 56% as they pivot toward AI. 2026 saw the biggest drawdown in Bitcoin hashrate since the 2021 China ban on Bitcoin mining. Still, Bitcoin mining hashrate is recovering and is down only 8% from its all-time high. Publicly traded Bitcoin miners are producing fewer Bitcoins as they shift towards artificial intelligence. A new report from CryptoQuant has shown that five of these Bitcoin mining companies produced 47% less BTC year-on-year.