Bitcoin News Today: Bitcoin Miners Pivot to AI as Crypto Profits Wane

Bitcoin mining firms are increasingly shifting toward high-performance computing (HPC) and artificial intelligence (AI) infrastructure as falling crypto prices and thinning margins erode profitability. Bitfarms (BITF), one of North America's largest Bitcoin miners, announced in November 2025 it will wind down its mining operations by 2027 to focus on AI workloads, a move that follows a $46 million third-quarter loss. The company plans to convert its Washington State facility to support Nvidia GB300 GPUs, with a fully funded $128 million agreement to retrofit the site. CEO Ben Gagnon stated the pivot could generate more net income than Bitcoin mining ever did.

The trend reflects broader industry pressures. Bitcoin's hash price has dropped to near-break-even levels, forcing smaller miners offline. Major players like Cipher Mining and IREN have also pivoted to AI infrastructure, securing multi-billion-dollar deals with Amazon Web Services and Microsoft. Digi Power X, another miner, reported positive Q3 2025 earnings and a strong balance sheet to fund its 2026 AI expansion, though it cautioned that execution risks remain.

Meanwhile, Bitcoin mining's political and financial ties are drawing new attention. The Scaramucci family, led by Anthony and AJ Scaramucci, invested over $100 million into American Bitcoin, a firm cofounded by Donald Trump's son Eric. Despite Anthony Scaramucci's past clashes with Trump, the investment underscores Bitcoin's role as a unifying asset class. American Bitcoin, which holds 4,004 BTC ($415 million), has expanded rapidly through a $220 million pre-IPO round led by Solari Capital. Critics, however, have raised concerns about the firm's reliance on Chinese mining equipment and extended payment terms secured by Bitcoin pledges.

Bitfarms' Q3 results highlight the sector's volatility. The firm sold 185 BTC at $116,500 each, earning $22 million, while its Bitcoin 2.1 program-selling out-of-the-money calls on its treasury-aims to offset production costs. Despite a 11% stock drop post-announcement, Gagnon emphasized confidence in the company's 2.1 GW energy portfolio and scalable AI infrastructure.

Industry analysts warn that the transition to AI is not without risks. Projects may face delays, and GPU-as-a-Service economics could underperform expectations. Yet with Bitcoin's price hovering near six-month lows and hash rate surging past one zetahash per second, the pivot appears inevitable for firms seeking stable revenue streams.