The Bitcoin mining sector is reorganizing in the face of operational pressure.

Bitcoin mining is being transformed through energy efficiency, expansion into artificial intelligence, and regulatory frameworks that strengthen the security of the global network.

Bitcoin miners are going through a phase of structural transformation marked by the search for energy efficiency and diversification towards high-performance computing. 

In a context where the price of Bitcoin has remained in a narrow range between $67.000 and $70.000, companies in the sector face tight profitability levels, which have forced a change in their treasury and technical expansion strategies. 

According to a report published by journalist Colin Wu, this reorganization is not solely a response to market volatility, but rather to an evolution toward business models that integrate artificial intelligence and compliance with stricter regulatory frameworks. The capitulation of several operators, who have opted to liquidate part of their reserves to sustain their operations, illustrates how Bitcoin mining is thus facing a new equilibrium in which efficiency, technological innovation, and intelligent capital management define long-term survival and growth.

Mining capitulation: costs and competition reshape the Bitcoin network

During the first week of February, major Bitcoin mining companies began moving large volumes of their reserves to cover increasingly higher operating costs. According to Wu's analysis, this behavior marks a moment of adjustment for the sector, which is facing growing pressure from energy costs and declining profitability.

Marathon Digital Holdings (MARA)Antminer, one of the world's largest Bitcoin mining companies, transferred approximately 1.318 BTC, equivalent to about $86,9 million, to institutional counterparties. The expert emphasizes that this move occurred in a context where older-generation mining rigs, such as the Antminer S19 XP+ Hyd, are operating very close to their break-even point, with average electricity rates of $0,08 per kWh. Data indicates that even the newest models in the S21 series face increasingly tight margins, placing their break-even point in the range of $69.000 to $74.000 per BTC.

The consequence of this increasing pressure for mining profitability has been a visible contraction in Bitcoin's global hashrate. 

Since its peak in October 2025, the total power of the blockchain has fallen by approximately 15%, from 1,2 ZH/s to around 980 EH/s. This decline in the blockchain's computing power reflects signs of capitulation among less efficient operators. Meanwhile, Glassnode analysts warn that selling pressure continues, pushing manufacturers like Bitmain to drastically reduce the prices of their hardware. Some liquid cooling systems are already trading at around $3 per TH/s, an exceptionally low price intended to encourage equipment upgrades.

Nevertheless, Wu also points out that the recent 3,28% correction in the Bitcoin mining difficulty It offers a brief respite for mining farms that are still operating profitably, but the scenario remains challenging.

Crypto mining is reinventing itself with AI and moving towards a more efficient and regulated model

Faced with the fall in direct income for Bitcoin miners, which according to data reached historic lows in December 2025, the sector has found a path to sustainability in infrastructure for artificial intelligence (AI). 

Wu's report highlights cases such as Bitdeer, which has deployed graphics processing units in Malaysia for AI cloud services, or Bit Digital, which announced a new strategy to focus on Ethereum network validation infrastructure and high-performance computing. 

However, while this latest shift reflects an evolution among cryptocurrency mining participants toward more profitable and diversified applications, a recent report by the consulting firm Bernstein argues that the technological competition between Bitcoin and AI does not represent a replacement of the asset, but rather a synergy. According to the firm's analysts, the fact that BTC miners are allocating energy resources to AI data centers strengthens their financial position, which indirectly favors the stability of the blockchain network by professionalizing the capital base of the operators. In other words, this interaction can accelerate the professionalization of the ecosystem and transforms former mining centers into relevant players within the digital economy.

At the same time, the report cites the progress of regulatory frameworks in various jurisdictions, which is providing a greater legitimacy for the sectorIn Russia, for example, authorities have advanced laws that legalize mining under strict tax records, while imposing administrative penalties on undeclared operations. 

Similarly, countries like Turkmenistan legalized cryptocurrency mining and exchange platforms on January 1st of this year. These regulations, along with energy efficiency projects such as the use of waste heat for agriculture in Canada, spearheaded by Canaan Inc., suggest that the sector is moving beyond its experimental phase and establishing itself as a global infrastructure industry. 

The integration of Bitcoin mining into national electricity grids, as is happening in Japan, the United Arab Emirates, or the state of Texas (United States) to take advantage of energy surpluses, further underscores this trend towards a more robust and regulated operating model.

The institutions absorb the miners' capitulation

The current operational pressure on Bitcoin miners is marking a turning point in the sector. Companies with weak financial structures and high energy costs are being temporarily forced out of the market, while those with greater financial strength are taking advantage of the situation to expand their computing power and strengthen their position. Experts believe this process of elimination is concentrating control of the network in the hands of more resilient players, which in the medium term will contribute to a more stable and efficient Bitcoin infrastructure.

However, the real transformation isn't limited to the production side. Recent data also reveals that institutions are accumulating Bitcoin at a rate exceeding the new supply generated by digital mining. This institutional movement is absorbing much of the flow that previously pressured prices due to the forced sale of less profitable miners. In practice, corporate treasuries are acting as a market stabilizer, reducing the impact of technical capitulation and reinforcing the perception of Bitcoin as an asset with financial maturity and increasingly controlled scarcity.