Miner Collective Transition to AI: Mining Cost Inversion Nears $20,000, Bitcoin Sale Raises $7 Billion for Mining Power Transformation

BlockBeats News, March 28th, the latest industry report shows that the Bitcoin mining industry is undergoing a structural transformation. By the fourth quarter of 2025, the average mining cost of listed mining companies has risen to around $80,000 per coin, while the Bitcoin price is only hovering around $70,000, with a loss of nearly $20,000 per coin, making the industry's profitability model no longer sustainable.

In this context, mining companies are massively shifting towards Artificial Intelligence (AI) and High-Performance Computing (HPC) infrastructure. As of now, the industry has signed contracts worth over $70 billion, and some companies expect as much as 70% of their revenue to come from AI business by the end of 2026, gradually transforming into data center operators.

The transformation funding mainly comes from two sources: leveraged financing and selling off Bitcoin reserves. Data shows that listed mining companies have collectively sold over 15,000 BTC, including Core Scientific, Bitdeer, Riot Platforms, among others, continuously selling their holdings to support AI expansion.

However, this trend also poses a potential impact on network security. As miners move computing power, the Bitcoin network's total hash rate has dropped from a high of around 1,160 EH/s in 2025 to about 920 EH/s, accompanied by consecutive difficulty adjustments.

Market pricing has also shown differentiation: mining companies with AI business are valued at around 12.3 times future revenue, while pure mining companies are only at 5.9 times, indicating a clear capital shift towards AI transformation.
The industry believes that whether the Bitcoin price can return to $100,000 will be a key variable in determining whether the mining industry is undergoing a "short-term transformation" or a "permanent change."