Bitcoin Miners Invest $30 Billion in AI

Bitcoin (BTC) mining companies have invested $30 billion in expanding artificial intelligence (AI) infrastructure. As a result, the volume of mined coins sent to exchanges has decreased, and the mining hash rate that has been terminated over the past six months has reached 56 exahashes (EH/s). Mining companies have not stopped selling; rather, the inflow to exchanges has diminished. The Miner Position Index (MPI) has dropped from 2.8 in August to -1.2 in September, indicating weakened selling pressure. Cango and Iren have led the decrease in hash rate, accounting for 68% of the total reduction. The $30 billion investment is equivalent to 15 times the current operating revenue of publicly traded mining companies. The shift towards AI in the mining industry is related to a 17% decrease in Bitcoin hash rate compared to its all-time high, which is analyzed as a result of reallocating resources to AI ventures. Mining companies are adopting strategies to reduce their dependence on coin sales and secure stable cash flow. Given that the recent MPI figure is -1.2, attention is drawn to whether sales will increase again after the completion of AI equipment purchases.

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