Public miners took roughly 75 EH/s of realized hashrate offline through the first half of 2026, and Miner Weekly puts the hardware behind it at about $1.5 billion using an assumed acquisition price of $20 per TH/s, a figure that counts the machines alone and excludes buildings, electrical work, cooling and installation. The accounting has already caught up: about $1.1 billion in impairments and held-for-sale markdowns across the 12 companies tracked by TheEnergyMag, with IREN and Core Scientific accounting for almost 89% of that total and IREN alone carrying some $695 million between January and June. Worth separating the two stories inside that number. Core Scientific attributed its markdown to mining economics rather than any AI conversion, which means not all of the idle hardware represents a strategic pivot. Some of it is just unprofitable. Directly reported HPC and AI revenue did rise 52% quarter over quarter, and TeraWulf booked about $53 million in HPC leasing revenue in the half against $131 million in cash interest paid.