Bitcoin miners just moved $5.6B to exchanges under AI escape plan

Bitcoin miners transferred over 51,000 BTC, valued at more than $5.6 billion, to Binance between October 9th and 15th, signaling building sell pressure following a market rout. This shift from accumulation to selling is driven by shrinking Bitcoin margins, intensified network difficulty, and low transaction fees, making profitability difficult, especially for older rigs.

To counteract these pressures, major mining firms are increasingly pivoting their infrastructure toward AI and High-Performance Computing (HPC) hosting. Data suggests that renting a 1MW site for AI compute can yield significantly more stable income ($1.46 million annually) than Bitcoin mining revenue ($896,000 annually at $100k BTC price).

While this short-term selling adds pressure to the Bitcoin market, the long-term implication is a potential structural change in Bitcoin's security model. As profitability from block rewards declines, the network's hash rate may become increasingly reliant on hybrid AI-crypto data centers whose primary business is diversification rather than pure mining.

(Source：CryptoSlate)