Bloomberg: The AI boom prompts Bitcoin mining companies with over $8 billion in holdings to transform, raising concerns about market sell-offs

According to market news, as the price of Bitcoin has fallen more than 40% from last year's peak, large mining companies holding over $8 billion in Bitcoin are quietly accelerating their sell-off.

Unlike previous sell-offs aimed at covering costs, this round of selling is reallocating funds to the artificial intelligence sector. Mining companies are repositioning their facilities, which also benefit from cheap electricity and capital-intensive infrastructure, as AI data center operators to secure a more predictable source of income than Bitcoin mining. MARA Holdings, the second-largest holder of Bitcoin after Strategy, is adjusting its strategy and may sell a portion of its nearly $4 billion reserves.

CleanSpark and Riot Platforms have restructured their executive teams to accelerate the AI transformation. Bitdeer has emptied its Bitcoin holdings. Analysts point out that the sell-off by mining companies has triggered market anxiety, but the proceeds from the sales are being used for strategic reallocation rather than survival, and the profit outlook for mining companies is actually more optimistic.