Listed Bitcoin Miners Cut $1.5B in Mining Rig Spending in H1 2026

The concentration of impairments in just two names is the real signal here: this is less a sector-wide retreat than a handful of balance sheets absorbing a strategic pivot, with the rest of the listed cohort largely untouched. Reallocating power to AI infrastructure reframes miners as energy landlords rather than pure hashrate producers, which changes how their economics should be read. Whether that reallocation spreads beyond the early movers, or remains confined to operators with the largest power footprints, is the open question.