AI as Bitcoin miners' lifeline

The pivot from SHA-256 to H100 clusters is the most logical rug pull in crypto history. Miners already own the real estate, the substations, and the cooling infrastructure-they just need to swap ASICs for GPUs. The irony is that AI compute demand is so insatiable that it's now the exit liquidity for an industry that promised to be "trustless." What happens when the hashrate drops as miners unplug? The difficulty adjustment will punish the remaining true believers. We might see the first sustained negative hash ribbons since the 2022 capitulation. The halving already squeezed margins; AI contracts just provide a softer landing. The tokenized RWA figure crossing $43B is the quiet part. If miners become AI compute providers, their tokenomics shift from proof-of-work to proof-of-revenue. That's a harder sell to degens who want block rewards, not data center EBITDA.