US Miners Abandon Bitcoin as Math No Longer Adds Up

MicroStrategy's decision to sell $216 million in Bitcoin has sent shockwaves through the crypto community, effectively ending their 'never sell' motto. The sale marks a significant shift in strategy for the company, which had long been seen as a stalwart supporter of the cryptocurrency.

The move comes as mining costs for BTC continue to rise, currently standing at $78,000. Meanwhile, the price of Bitcoin remains far below this threshold, making it increasingly difficult for miners to turn a profit.

As a result, some US-based miners are abandoning Bitcoin altogether in favor of more lucrative opportunities in AI development. This has raised concerns about the security of the Bitcoin network, with international operators stepping in to fill the void left by departing domestic miners.