hodler

6 Mar 2026, 01:19

Public Bitcoin miners offload 15K BTC as industry margins tighten

Publicly traded Bitcoin miners have disclosed that they sold over 15,000 BTC since last October, just ahead of the market’s all-time high. The downturn sparked a bear market, impacting industry profits, according to TheEnergyMag’s Miner Weekly newsletter. Following this news , reports indicated that, as companies have reduced their Bitcoin holdings in recent months, the trend of holding BTC as a primary treasury asset, popularized during the 2024–2025 market surge, is losing momentum. Notably, reports highlighted that various significant players in the mining sector were actively engaged in this sell-off. To support this claim, reliable sources confirmed that Cango sold approximately 4,451 BTC last month, representing approximately 60% of its total reserves. Moreover, Bitdeer allegedly sold all its BTC from its treasury the same month. Other major players include Riot Platforms and Core Scientific, which executed several Bitcoin sales towards the end of last year and intend to sell about 2,500 of the cryptocurrency in the first quarter, respectively. Several miners shift their focus towards the AI sectors amid challenges in the mining industry Regarding the current state of the crypto market, several analysts argued that what started as a firm commitment to holding BTC, commonly known as HODLing, is losing momentum among publicly traded miners. For them to sustain daily needs, reports highlighted that these miners now opt to embrace the development of AI infrastructure, a capital-intensive, high-appeal business area. Some factors contributing to the decline in mining profit margins include stiff industry competition, rising energy prices, and lower Bitcoin prices. At this point, sources claimed that the 90% margins miners enjoyed in 2021 have disappeared, creating severe, life-threatening pressure on those relying solely on Bitcoin for survival. Regarding those who have decided to shift their focus to the AI sector, analysts noted that this trend is accelerating as Bitcoin prices hover around $70,000. This figure is almost 50% lower than the peak reached last October. To illustrate the intense nature of the situation, the analysts stressed that top-tier mining companies are liquidating or preparing to sell assets to fund their AI expansion. In attempts to explain the current market situation, recent reports noted that several mining companies successfully boosted sales in the wake of the post-October Bitcoin crash, which had made profitability difficult. Collectively, these firms sold more than 15,000 Bitcoins in five months. In a statement, Riot stated that, “the ongoing decline in bitcoin’s price might require them to sell more than expected so they can maintain enough cash flow for daily operations and working capital.” On the other hand, Marathon Digital Holdings (MARA), historically recognized for aggressive Bitcoin acquisition, adopted a new operating strategy. In this new approach, the company revised its treasury policy, enabling the liquidation of held reserves rather than restricting sales to newly mined assets. Interestingly, this approach was adopted at a time when MARA held more than 53,000 BTC as of December 31, 2025. In other words, this scenario demonstrates the end of the HODLing era as miners are forced to sell their Bitcoin holdings due to profit pressures. At this particular moment, sources highlighted that the hashprice, representing essential miner revenue, has plunged to $30 per PH/s per day, according to a recent analysis of quarterly reports. Given current market conditions, the majority of publicly traded mining firms are operating at or near zero-margin levels. Following this finding, TheEnergyMag noted that, “Historically, the difference between hashprice and hashcost has been a major reason for treasury liquidations.” Uncertainties surrounding the mining industry as it suffers major debts In response to the current situation in the mining industry, several analysts conducted research and found that the recent downward trend differs from previous downturns. This is because a large number of miners began last year with major debts. The urge to fund large-scale AI infrastructure development alongside ongoing operational needs, largely driven by the need for massive data center capacity, prompted these miners to demonstrate heightened interest in credit lines, Bitcoin-backed loans, and secured bonds. With this focus in mind, the three significant miners, Hut 8, MARA Holdings, and Riot, had pledged over 14,500 Bitcoin as collateral for loans towards the end of last year. To break down the situation for better understanding, analysts explained that the loan-to-value ratio rises as BTC’s price declines. In simpler terms, sharp declines in valuation have increased the necessary collateral ratios, compelling firms to lock up more assets to meet loan requirements. Meanwhile, it is worth noting that the marginal recovery in Bitcoin’s value to over $74k has not provided substantial relief to miners, whose operational pressures persist. The smartest crypto minds already read our newsletter. Want in? Join them .

5 Mar 2026, 23:00

American Bitcoin adds 11k ASICs in bold BTC mining play – Why it matters

Amid falling hashrate, American Bitcoin signal strong confidence in BTC mining.

5 Mar 2026, 15:33

Core Scientific Secures Up to $1 Billion From Morgan Stanley for Pivot From Bitcoin Mining to AI

The firm continues to pivot away from Bitcoin mining.

5 Mar 2026, 15:02

Bitcoin Mining Cost Climbs to $70,027 Per BTC

The average cost of mining one Bitcoin has climbed above $70,000, marking a sharp increase from the $67,704 recorded earlier this year. Ki Young Ju, founder of CryptoQuant, highlighted the rising production cost, citing recent filings from MARA Holdings. Visit Website

5 Mar 2026, 14:20

Core Scientific Secures Monumental $1B Morgan Stanley Loan for AI Infrastructure Pivot

BitcoinWorld Core Scientific Secures Monumental $1B Morgan Stanley Loan for AI Infrastructure Pivot AUSTIN, Texas – March 2025 – In a landmark deal reshaping the digital infrastructure landscape, Bitcoin mining firm Core Scientific has secured a strategic financing commitment of up to $1 billion from global investment bank Morgan Stanley. This monumental agreement provides the capital foundation for the company’s ambitious transformation into a diversified AI data center infrastructure provider, marking one of the largest single financing events in the sector’s history. Core Scientific’s Strategic Financing Details The financing structure involves an initial 364-day loan commitment of $500 million. Furthermore, the agreement contains an accordion feature permitting an additional $500 million draw, subject to specific performance conditions. This flexible structure provides Core Scientific with substantial liquidity as it executes its strategic pivot. The company recently disclosed the sale of 1,900 Bitcoin, worth approximately $175 million, in January, a move analysts interpret as portfolio rebalancing ahead of this larger financing event. Morgan Stanley’s involvement signals a significant vote of confidence from traditional finance in the evolving digital infrastructure sector. The bank has increasingly positioned itself at the intersection of technology and finance, particularly in high-performance computing and data-centric investments. This deal follows a broader trend of institutional capital flowing into assets that support both cryptocurrency and artificial intelligence workloads. The AI Infrastructure Pivot Explained Core Scientific’s announced shift from a pure-play Bitcoin mining operation to an AI data center infrastructure company represents a strategic response to market dynamics and technological convergence. The company’s existing assets—including large-scale facilities, robust power contracts, and expertise in managing high-density computing—are directly transferable to the demanding AI compute market. Analyzing the Market Drivers Several converging factors make this pivot strategically logical. Firstly, the demand for AI training and inference compute has skyrocketed, creating a severe shortage of available data center capacity optimized for GPU clusters. Secondly, the Bitcoin mining industry has faced margin compression from increasing global hash rates and the recent Bitcoin halving event, incentivizing diversification. Finally, companies with established power infrastructure and scalable footprints possess a significant first-mover advantage in repurposing assets for AI workloads. The table below outlines the core competency transfer between Bitcoin mining and AI infrastructure: Bitcoin Mining Competency Application to AI Infrastructure High-Density Power Management Essential for operating power-hungry NVIDIA H100/A100 GPU clusters Advanced Cooling Solutions Directly applicable to cooling AI server racks generating immense heat Scalable Facility Operations Proven ability to manage 100+ megawatt data center campuses Low-Cost Power Procurement Critical for maintaining profitability in compute-intensive AI services 24/7 Operational Reliability Mandatory for uptime-sensitive AI model training and hosting Impact on the Cryptocurrency Mining Sector This financing and strategic shift will likely have ripple effects across the entire cryptocurrency mining industry. Other publicly traded miners may face investor pressure to articulate similar diversification strategies or demonstrate unique competitive moats. The deal also highlights the increasing value of mining companies’ underlying physical assets—their real estate, power contracts, and electrical infrastructure—which are now being appraised through a dual-use lens. Industry analysts point to several immediate implications: Capital Accessibility: Traditional lenders may become more open to financing miners with clear hybrid or diversification roadmaps. Asset Valuation: Mining facilities may be valued not just on hash rate but on their potential conversion capacity for AI workloads. Strategic Partnerships: Increased potential for joint ventures between mining firms and cloud/AI service providers. Financial and Operational Context Core Scientific’s journey to this point provides crucial context. The company emerged from Chapter 11 bankruptcy reorganization in early 2024, having successfully restructured its balance sheet. This clean financial slate, combined with its retained operational expertise and asset base, positioned it uniquely to attract strategic financing for a transformative pivot. The Morgan Stanley loan represents both a culmination of its restructuring and a launchpad for its next chapter. Furthermore, the timing coincides with a maturation in both the cryptocurrency and AI markets. Institutional investors now seek infrastructure plays that offer exposure to digital asset ecosystems without being solely dependent on cryptocurrency price volatility. AI infrastructure, by contrast, is seen as servicing a more predictable, enterprise-driven demand curve, albeit with its own technological and competitive risks. Broader Implications for Digital Infrastructure Beyond a single company’s strategy, this event underscores a macro trend: the convergence of compute-intensive technologies. The same fundamental resources—cheap energy, efficient cooling, and scalable real estate—are critical for both proof-of-work blockchain validation and large language model training. Consequently, companies that master the operational logistics of high-density computing are becoming strategically valuable across multiple technological frontiers. The financing also reflects a growing recognition in traditional finance that the infrastructure behind digital economies constitutes a legitimate and sizable asset class. Morgan Stanley’s commitment suggests that major investment banks are developing frameworks to underwrite and value these complex, technology-forward assets, potentially paving the way for more institutional capital to follow. Conclusion Core Scientific’s securing of up to $1 billion in financing from Morgan Stanley represents a pivotal moment for the company and the broader digital infrastructure sector. This strategic capital injection directly fuels its ambitious transition from a Bitcoin mining specialist to a diversified AI data center infrastructure provider. The deal validates the underlying value of the company’s physical and operational assets while highlighting the increasing convergence between blockchain and artificial intelligence compute demands. As Core Scientific executes its pivot, the industry will watch closely, as its success or failure could chart a course for the entire cryptocurrency mining and high-performance computing landscape. FAQs Q1: What are the specific terms of Core Scientific’s loan from Morgan Stanley? The agreement includes an initial $500 million loan with a 364-day term. It also features an accordion option allowing Core Scientific to request an additional $500 million, bringing the total potential facility to $1 billion, subject to certain undisclosed conditions. Q2: Why is Core Scientific pivoting to AI data center infrastructure? The pivot leverages the company’s core competencies in managing high-density, power-intensive computing operations. It also diversifies its revenue streams beyond Bitcoin mining, tapping into the explosive growth and sustained demand for AI training and inference compute capacity. Q3: How does the recent sale of 1,900 BTC relate to this financing deal? The sale, which occurred in January 2025 for approximately $175 million, is viewed by analysts as a strategic liquidity event. It likely helped strengthen the company’s balance sheet ahead of securing the larger, more structured financing from Morgan Stanley. Q4: What does Morgan Stanley’s involvement signify for the sector? Morgan Stanley’s participation signals growing institutional validation of digital infrastructure as an asset class. It indicates that major traditional financial institutions are developing the frameworks to underwrite complex deals in the converging fields of cryptocurrency and high-performance AI computing. Q5: Could other Bitcoin mining companies follow a similar strategy? Yes, many analysts believe this could become a trend. Mining companies with strong balance sheets, favorable power contracts, and scalable facilities are uniquely positioned to repurpose assets for AI workloads, potentially creating a new hybrid model for digital infrastructure companies. This post Core Scientific Secures Monumental $1B Morgan Stanley Loan for AI Infrastructure Pivot first appeared on BitcoinWorld .

5 Mar 2026, 12:30

Bitcoin Miners Sell Holdings as AI Pivot Accelerates

Major bitcoin mining companies are increasingly selling portions of their BTC reserves as they pivot toward artificial intelligence (AI) infrastructure. The shift highlights how miners are chasing more predictable revenues from AI data centers amid volatile mining margins. Crypto Miners Shift From Bitcoin Treasuries to AI Data Centers For years, leading bitcoin mining firms have