Bitcoin News Today: Greenidge Shifts to AI Amid Bitcoin Mining's Cost and Regulatory Headwinds

Greenidge Generation, a Bitcoin mining firm previously highlighted for its plans to go public via a merger with Support.com in 2021, has drawn renewed attention amid broader industry shifts. The company, which co-hosts mining operations with NYDIG, has not been directly linked to any recent operational disruptions in the provided sources. However, the broader cryptocurrency mining sector remains under scrutiny due to evolving economic and regulatory pressures.

Bitcoin mining profitability has faced significant strain as network hashrate surged to record levels, reaching 1.16 ZH/s in October 2025, while Bitcoin's price retreated toward $81,000. This confluence of factors has driven hash prices below $35 per hash, pushing several operators near breakeven thresholds. For firms like Greenidge, which rely on high-energy infrastructure, rising electricity costs and regulatory uncertainties pose compounding challenges.

The sector's pivot toward artificial intelligence and high-performance computing (HPC) has gained momentum, with companies like Bitfarms and CleanSpark reorienting their strategies. Bitfarms, for instance, announced a full pivot to AI HPC by FY2027, abandoning Bitcoin operations entirely. CleanSpark, meanwhile, reported transformative FY2025 results, with Bitcoin mining revenue surging to $766 million. These moves reflect a broader industry trend as firms seek to diversify revenue streams amid Bitcoin's volatility.

Regulatory and security concerns further complicate the landscape. A federal investigation into foreign-manufactured mining hardware, dubbed Operation Red Sunset, has intensified scrutiny of supply chain risks, particularly for firms relying on non-domestic equipment. BlockQuarry Corp. has positioned itself as a beneficiary of this shift, promoting its domestically produced BLQCBuster™ miners as a secure alternative.

Energy costs remain a critical factor, exemplified by Tether's recent cessation of Bitcoin mining in Uruguay. The stablecoin issuer cited unsustainable electricity tariffs and a $4.8 million debt dispute with state utility UTE as reasons for halting operations. This exit underscores the sensitivity of mining ventures to energy pricing and regulatory frameworks, challenges that could also impact Greenidge's operations.

Despite these headwinds, institutional interest in the sector persists. J.P. Morgan's recent price target adjustment for miners like CleanSpark and Cipher Mining spurred a 24-hour stock rally, reflecting optimism around long-term HPC and cloud deals. However, the path to profitability remains fraught, with payback periods for mining rigs now exceeding 1,200 days and financing costs rising sector-wide.

Greenidge's future trajectory will likely hinge on its ability to navigate these dynamics. While no direct reference to a fire at its facility appears in the provided sources, the company's strategic positioning amid a rapidly shifting industry will be critical. As Bitcoin miners increasingly pivot to AI and HPC, Greenidge's co-hosting arrangement with NYDIG may offer a pathway to adapt, provided it can secure favorable energy and regulatory conditions.