CoinShares stated in its Q2 bitcoin mining report published Tuesday that the exodus of publicly traded bitcoin miners to the artificial intelligence infrastructure sector is likely to continue even if bitcoin prices recover. The report highlights that AI currently generates profits of approximately $1.5 million per megawatt for these companies, compared to about $500,000 per megawatt from bitcoin mining. The average ex-tax cash cost for publicly listed BTC miners to produce bitcoin in the second quarter was roughly $75,500, while bitcoin ended Q2 at $58,400. At least 35 EH/s of computing power, equivalent to about 4.7% of Bitcoin's current 750 EH/s network hashrate, is already scheduled to leave the publicly listed group of miners. Companies like Core Scientific, Keel (formerly Bitfarms), IREN, Cipher Digital, and TeraWulf are actively transitioning or winding down their mining operation