Bitcoin Faces First Hashrate Bear Market CEO Says

Blockonomi posted that Twenty One Capital CEO Rapha Zagury described Bitcoin entering its first hashrate bear market. The post states nearly every public miner is pivoting from Bitcoin mining to AI and HPC infrastructure. It compares the change to the scale seen after China's 2021 mining ban. A linked Blockonomi article carries the same headline and notes that Zagury explains the hashrate situation along with the industry pivot to AI. The tweet and article present the claims as the CEO's assessment of current mining conditions and miner business shifts.