Bitcoin mining revenue hits historic low as infrastructure is sold to AI giants permanently altering the networks security

The euphoria of October’s record highs has evaporated, leaving the industrial backbone of the might eventually view the security budget as they view bank capital ratios, as something that can require deliberate support.

That could take the form of higher fees for certain transaction classes, industry-funded incentives for miners, or scrutiny of AI conversions that materially dent hashrate…