The average public miner spent $79,995 to produce one bitcoin last quarter. Bitcoin is trading at $70,000. The math doesn't work, so the industry is pivoting to AI, taking on $70 billion in contracts, and liquidating bitcoin treasuries to finance the shift.
source https://www.coindesk.com/markets/2026/03/27/bitcoin-miners-are-becoming-ai-companies-and-selling-their-btc-to-fund-the-transition
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