Are Mining Companies the Key to Crypto’s Comeback? - Crypto Economy

TL;DR

• Crypto mining companies are maintaining growth even as Bitcoin trades below previous highs, positioning themselves as bridges between digital assets and artificial intelligence infrastructure.
• Cango sold part of its treasury, converting $305 million into capital for data centers and expansion.
• Miners slightly reduced BTC holdings but continue operations, showing no signs of abandoning the network or shutting down profitable facilities.

The crypto market has slowed, but mining companies remain active and well funded. Mining companies could be the key to crypto’s comeback, as investors increasingly value hardware, energy agreements, and technical talent beyond daily token rewards. Some firms hold legacy BTC acquired at lower prices, using it to support new AI-focused initiatives and cloud services.

Publicly listed miners in North America are reallocating parts of their facilities to high-performance computing. Electricity agreements originally signed for Bitcoin mining are now powering AI workloads, enabling smoother diversification than many analysts expected. Shares of IREN and similar firms rose recently while Bitcoin hovered just below $70,000 and market sentiment stayed cautious.

Mining Companies And The New AI Demand

Executives highlight that data centers built for proof-of-work mining can be adapted for AI with minimal additional investment. Cooling systems, fiber connectivity, and land permits are already in place, reducing entry costs for the AI sector. Analysts say these assets were undervalued when miners were judged only on Bitcoin production.

Some operations still face high production costs, especially facilities that expanded after the last halving. Not all mining sites are profitable at current Bitcoin prices, but older operations with legacy power contracts continue to generate positive margins. Revenue is increasingly coming from hosting services and machine leasing, broadening income streams beyond mining alone.

Reserve Sales And Balance Sheet Strategy

Miners’ BTC reserves decreased from 1.89 million to about 1.8 million over recent months, reflecting moderate sales rather than panic. Cango sold 4,451 BTC and retained 3,645 BTC, using roughly $305 million for capital expenditures. Other large miners, such as MARA, hold significant treasuries but have avoided large-scale liquidations.


Hashrate recovered to 963 EH/s after seasonal declines tied to hydroelectric power, with some pools even expanding capacity. This shows confidence in the network and long-term demand. The partial sale of BTC is driven by AI-related investments and infrastructure debt, not by Bitcoin weakness.

Mining firms are evolving into full-scale infrastructure providers. Their combination of energy access, technical expertise, and legacy Bitcoin holdings could shape the next stage of the industry. Continued adaptation may support a broader crypto recovery while allowing investors exposure to the market without holding tokens directly.