I have recently noticed a radical shift in the strategies of major Bitcoin miners, which is truly worth paying attention to. Large publicly traded cryptocurrency mining companies are no longer sticking to the traditional HODLing mentality. Instead, they are increasingly selling their Bitcoin holdings to fund new artificial intelligence infrastructure projects.

The reason is clear — profit margins from Bitcoin mining have severely eroded. At the peak in 2021, profits reached up to 90%, but now, with rising energy costs and intense competition, the situation is completely different. With the current price around $77,600, down from a previous high, miners are recalculating their strategies.

The smart part of the story is that these companies already own advanced data centers and ready infrastructure. Why not use them for something more profitable? That’s what most cryptocurrency miners are thinking now. Shifting space and resources from Bitcoin mining to AI computing has become the preferred strategic move.

Let me share what’s happening with the biggest players: Marathon Digital currently owns 53,800 Bitcoin, but has sold some Bitcoin and leases about 28% of its holdings. Core Scientific reduced its holdings from 2,500 Bitcoin to about 630 after selling $175 million worth. Riot Platforms sold $200 million worth of Bitcoin in the last months of 2025 and now holds 18,000 Bitcoin compared to 19,400 previously.

Bitdeer has completely emptied its treasury — from 2,500 Bitcoin to zero. Bitfarms explicitly stated it is no longer a Bitcoin company, reducing its holdings from 3,300 to just 1,800. Even Cipher Digital sold its 49% stake in mining operations for $40 million and cut its Bitcoin holdings from 2,300 to 1,500.

A few miners are trying to balance both approaches. CleanSpark manages 13,000 Bitcoin as productive capital and is exploring Bitcoin-backed credit lines. Hut 8 said that Bitcoin is no longer a long-term strategic priority and is focusing on its stake in American Bitcoin.

What’s happening here isn’t random selling — it’s a strategic reallocation of resources. Cryptocurrency miners are betting that AI infrastructure will be more profitable than Bitcoin mining in the coming years. Whether this bet is right or not, that’s another question, but the trend is very clear now.