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. Publicly listed bitcoin miners are facing unsustainable economics, losing roughly $19,000 per coin produced, and are rapidly pivoting toward artificial-intelligence and high-performance computing infrastructure. More than $70 billion in…
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