The Bitcoin network mined its 20 millionth coin this week, leaving just 1 million BTC to be unlocked-potentially over 115 years.
Analysts predict most publicly traded Bitcoin miners will exit mining by 2027-2028, selling holdings to fund pivots into AI and high-performance computing (HPC).
Despite shrinking block rewards, price impact may remain limited. Miners now hold only 0.5% of circulating supply, far below Strategy’s 3.5% stake.
Firms like Bitdeer and HIVE Digital are converting data centers to AI infrastructure, prioritizing vertical integration and low-cost energy access.
"The bar rises," said HIVE’s Frank Holmes. "Survivors will have the best power, sites, and flexibility."
As the next halving looms in mid-2028, the shift from mining to AI becomes not just strategic-but essential for long-term survival.