Miners Stop Mining Bitcoin and Sell Electricity to AI


【Plain Language Guide】By March 2026, Bitcoin mining is fully unprofitable, with a net loss of about $20,000 per coin.
Miners did not hold on tightly but collectively "sold coins to switch to AI": publicly listed mining companies have sold over 15,000 BTC, redirecting valuable electricity to AI data centers. Giants like Core Scientific, MARA, and Cango have liquidated their Bitcoin holdings and teamed up with Wall Street to build AI infrastructure, with valuation premiums reaching up to 10 times. On-chain indicators (Hash Ribbon, MVRV Z-Score, Puell Multiple) all point to a bottom.
This strategic sell-off is actually a positive signal: permanently removing structural selling pressure, leading to healthier Bitcoin supply, with mining becoming a side business, and AI becoming the main business—marking a true evolution in the mining industry.
For more details, see:
BTC1,65%
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