Bitcoin Slides as Corporate Capital Rotates to AI

Corporate treasuries and listed miners had become a major source of Bitcoin demand, but deteriorating mining economics are changing that role. CoinShares said the average public miner’s cash cost reached $79,995 per bitcoin in the fourth quarter of 2025. The sector has announced more than $70 billion of AI and high-performance computing contracts, including CoreWeave’s $10.2 billion, 12-year agreement with Core Scientific, as operators redirect power and data-center capacity toward steadier AI revenue.

Bitcoin fell to about $64,200 on Monday, Aug. 10, as fading corporate enthusiasm and the shift toward AI weighed on demand. Deutsche Bank said in a June 23 report that U.S. spot bitcoin ETFs had posted six straight weeks of net outflows totaling about $6 billion, while U.S. technology companies were expected to spend more than $700 billion on AI infrastructure in 2026. Analysts said institutional reallocation and miner treasury sales could intensify liquidation pressure in coming weeks, leaving retail buyers to rebuild Bitcoin’s market base.