Mine a coin and lose $20,000! Do I have a problem and keep mining?!

Mining companies collectively shifting to AI: Mining costs are nearly $20,000 higher than Bitcoin prices, selling Bitcoin to raise $7 billion for computing power transformation
On March 28, the latest industry report shows that Bitcoin mining is undergoing a structural shift. By Q4 2025, the average mining cost for listed mining companies will rise to about $80,000 per Bitcoin, while Bitcoin prices hover around $70,000, with a loss of nearly $20,000 per coin, making the industry's profit model unsustainable.
Against this backdrop, mining companies are massively shifting toward artificial intelligence (AI) and high-performance computing (HPC) infrastructure. To date, the industry has signed over $70 billion in related contracts, with some companies expecting up to 70% of their revenue to come from AI by the end of 2026, gradually transforming into data center operators.
The funding for this transformation mainly comes from two sources: leverage financing and selling Bitcoin reserves. Data shows that listed mining companies have collectively sold over 15,000 BTC, including Core Scientific, Bitdeer, Riot Platforms, and others, continuously selling holdings to support AI expansion.
However, this trend also poses potential risks to network security. As miners shift computing power resources, Bitcoin's total network hash rate has dropped from a high of about 1160 EH/s in 2025 to around 920 EH/s, with consecutive difficulty adjustments.
Market pricing has also diverged: mining companies with AI businesses are valued at approximately 12.3 times their future revenue, while pure mining companies are only valued at 5.9 times, with capital clearly favoring AI transformation.
Industry experts believe that whether Bitcoin can return to $100,000 will be a key variable in determining whether the mining industry is in a "short-term transformation" or a "permanent revolution."$BTC
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