Saifedean Ammous: BTC Mining Decline Could Be Positive for Price

Economist Saifedean Ammous, known for his book 'The Bitcoin Standard,' has argued that the Bitcoin mining industry and power consumption may have already peaked, potentially benefiting BTC prices. In an X post, he stated that with halving reducing mining rewards and long-term price growth slowing, AI data centers competing for power and infrastructure is lowering mining profitability. According to Cambridge University's estimates, Bitcoin mining power demand fell from approximately 190 TWh annually in December 2025 to the mid-130s TWh by mid-2026. This could lead investors to shift from purchasing mining equipment to buying BTC directly, while reduced power consumption may lessen environmental criticism, creating a positive outlook for Bitcoin.