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Bitcoin mining firms such as Marathon, Riot, Hut 8, and Core Scientific are selling their bitcoin to acquire AI infrastructure.
Fernando Nikolic states that these companies, which play a direct role in producing bitcoin, are now viewing investment in AI compute as a more effective use of capital than retaining the bitcoin they mine.
Nikolic has previously noted that Bitcoin saw its weakest monthly performance since the collapse of TerraLuna, highlighting investor sentiment under pressure in recent months here. He has also observed that some Bitcoin critics continue to trust traditional financial systems that have failed more recently than Bitcoin itself here. These observations provide context for miners now choosing AI investment over holding bitcoin.