Bitcoin Mining Firms Sell 32,000 BTC and Sign $70B in AI Contracts in Largest Desertion Ever
Companies paid to secure Bitcoin sold a record 32,000 coins and signed $70B in contracts to pivot to AI. Bitcoin's hashing power dipped briefly then recovered.
The companies paid to secure Bitcoin—major mining firms—have just executed the largest desertion in the network's history. They sold a record 32,000 BTC and signed contracts worth $70 billion to walk away from Bitcoin mining and build artificial intelligence infrastructure instead.
Despite this unprecedented sell-off and pivot by key miners, Bitcoin did not flinch. Its computing power (hashrate) dipped for a moment, then climbed back to normal levels, demonstrating the network's inherent resilience.
This event highlights a major shift within the crypto-mining industry as firms chase high-growth opportunities in AI. However, the stability of Bitcoin's hashrate indicates that the network remains secure and functional even after such a large-scale exit of mining capacity.