Bitcoin's Back - Miners Are Quitting for AI Anyway [NEWS]

Bitcoin's back above $70K and hash price ripped more than 10% — from the lows of $31 all the way to $35. Great news for anyone running machines. But public miners are still dismantling capacity to chase AI money, and this may be the first true hashrate bear market ever.

In this news roundup: a difficulty adjustment looms that could confirm bullish conditions, public miners have sold most of their BTC stack, Russia bans mining in Moscow through 2032, and the AI pivot keeps swallowing gigawatts — Riot's confirmed 20-year Anthropic lease, Core Scientific's Polaris deal, Cipher, TeraWolf, Ionic and more all trading Bitcoin mining for HPC. Plus the Zcash mining surge nobody saw coming.

The big question: if the AI trade cracks — China chip progress, cheaper models like Kimi K3 — what happens to the capital funding these 20-year leases?

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Timestamps:

0:00 Intro — Bitcoin back above $70K, hash price $31 → $35

0:40 Upcoming difficulty adjustment — why it matters

1:43 Core Scientific closes Polaris deal — 1.5 GW Oklahoma AI campus

2:20 Cango's revenue halves as it pivots from mining to AI

2:47 Bitdeer revenue +47%, shares down 77%

4:42 Riot × Anthropic — 20-year Rockdale lease confirmed

5:14 $573M debt for 191 MW AI conversion — the cost of pivoting

7:10 Public miners selling BTC — 127K down to 29K

7:52 Russia bans mining in Moscow region through 2032

8:20 Sponsor: Luxor

9:51 Public miners shed 21% of hashrate as AI accelerates

11:55 The first-ever hashrate bear market explained

12:32 Cipher secures 900 MW Texas site + Black Pearl AI

13:38 TeraWolf hits 71% AI leasing revenue

14:16 Ionic — AI leasing replaces Bitcoin mining

14:54 Sponsor: Altair

15:25 Bitdeer's $400M Malaysia AI contract

16:20 Is the AI trade cracking? Kimi K3 & model costs

17:10 Fortitude & the Zcash mining surge

19:39 Hash price outlook & difficulty bias

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