@peoplesomething
Bitcoin miners are becoming AI companies and selling their BTC to pay for it.
Mining is barely breaking even right now. It costs around $80K to mine one $BTC, but Bitcoin is trading below that. The math doesn't work anymore.
So miners are pivoting to AI. Over $70 billion in AI and data center contracts have been signed across the public mining sector. Core Scientific, TeraWulf, Hut 8 they're all making massive long-term AI deals.
To fund the shift, they're selling their Bitcoin. Marathon updated its policy to allow selling. Bitdeer sold everything.
Bitfarms CEO Ben Gagnon said it straight: "We are no longer a Bitcoin company."
The market is rewarding them for it too. AI-exposed miners trade at double the valuation of pure Bitcoin miners right now.
The industry is changing fast. Most people just haven't noticed yet.
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