Bitcoin News Today: Bitcoin Miners Pivot to AI Amid Shrinking Rewards and Bear Market Pressures

Bitcoin's recent 1.48% price rebound to $94,000 has reignited debates about the cryptocurrency's trajectory, with analysts pointing to miners' accumulation activities as a potential stabilizing factor. On-chain data reveals that over 19.95 million BTC-95% of the 21 million supply cap-have now been mined according to on-chain data, a milestone that underscores Bitcoin's scarcity narrative while highlighting the challenges miners face as subsidies dwindle. The market, however, remains cautious, with bears maintaining control amid dense resistance zones above $106,000 as Glassnode reports.

Glassnode's analysis suggests that Bitcoin is "stuck in consolidation limbo," with buyers absorbing capitulation flows but lacking the momentum for a sustained bullish reversal according to Glassnode's analysis. The firm notes that while short-term recovery is possible, a sustained rally would require overcoming a critical resistance cluster between $106,000 and $118,000-a price range where many investors exit to break even. This dynamic, paired with seller exhaustion, creates a fragile foundation for any upward movement within a broader bearish structure.

Bitcoin miners, meanwhile, are navigating a rapidly shifting landscape. HIVE Digital Technologies reported record revenue of $87.3 million in Q2 2026, driven by a 77% quarter-over-quarter increase in BTC production to 717 coins. The miner attributed its success to aggressive hashrate expansion and efficiency gains, even as network difficulty rose. However, the sector's profitability is increasingly tied to diversification, with companies like HIVE and Bitfarms pivoting toward AI and high-performance computing (HPC) according to Cointelegraph. VanEck analysts estimate that redirecting just 20% of miners' power capacity to AI workloads could unlock $38 billion in annual revenue according to Cryptoslate.

The transition to AI is accelerating as Bitcoin's block rewards shrink. The April 2024 halving reduced miner rewards to 3.125 BTC per block, and the next halving is scheduled for April 2028. With less than 1.05 million BTC remaining to be mined, miners are facing a "revenue cliff," forcing many to rely on transaction fees or pivot to alternative revenue streams according to Cryptoslate. This shift has created a bifurcation in the industry: "pure plays" focused on optimizing Bitcoin mining efficiency and "hybrid operators" diversifying into AI and HPC.

Market sentiment remains bearish despite the 95% supply milestone. Bitcoin's price slipped below $90,000 earlier this week before rebounding, but technical indicators suggest further declines are likely according to Bitcoin Magazine. The 50-week simple moving average at $102,800 has flipped into resistance, and the Parabolic SAR confirms persistent downside pressure. Institutional outflows and thin liquidity have exacerbated volatility, with bears targeting support levels as low as $83,000 according to CoinEdition.

For now, Bitcoin's future hinges on macroeconomic factors and miner adaptability. While the 95% supply threshold reinforces the asset's scarcity narrative, it has not yet triggered a price surge. Instead, the focus has shifted to how miners navigate the "5% Era"-a period of capital-intensive operations and operational strain as the network's annualized supply growth falls below 1% according to Cryptoslate. As Kraken's Thomas Perfumo notes, Bitcoin's programmable scarcity remains its defining feature, but its long-term value will depend on scaling infrastructure and regulatory clarity according to Cointelegraph.