As bitcoin continues to trend lower, bitcoin miners are moving to liquidate their bitcoin treasuries to fund AI expansions.
Bitcoin dropped below $63,000 on Tuesday morning, touching $62,500 before rebounding back above $63,000. At the time of publication, bitcoin is down 3.2% over the last 24 hours.
The price drop and elevated bitcoin mining difficulty have compressed margins across the bitcoin mining sector. Hashprice – a measure of bitcoin mining revenue potential per unit of computing power – reached an all-time low of $27.58 per PH/day. This profitability crunch creates an unsustainable environment for operators using older hardware at higher power costs.
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Major public mining operations are rapidly altering their treasury strategies in response to the adverse market conditions, opting to sell the bitcoin on their balance sheet to fund expansions into high-performance computing and AI workloads that require significant upfront capital for data center construction.
Bitdeer (NASDAQ: BTDR) liquidated its entire bitcoin treasury last Friday. A company announcement on X confirmed Bitdeer holds zero bitcoin in its corporate accounts. Bitdeer framed the decision as a routine move that “should not be a concern for the broader market” as management plans for “non-binding powered land acquisition opportunities.”
In its 2025 earnings call, Cipher Digital (NASDAQ: CIFR) confirmed plans to sell the remainder of its Bitcoin treasury in 2026. Cipher previously sold a portion of its holdings last year to support its expansion into AI data center services.