Bitcoin just posted one of its best weekly performances since 2020, climbing roughly 25% in late August to touch highs around $80K. Spot ETFs are vacuuming up capital. Exchanges are swimming in volume. Stablecoin dominance is cracking. And the companies that literally produce Bitcoin for a living? They’ve been too busy selling their coins and building data centers to enjoy the ride.

Public Bitcoin miners offloaded between 28,000 and 32,000 BTC during the first half of 2026, a stash worth approximately $1.78 billion at the time. Much of that selling funded a strategic pivot toward artificial intelligence and high-performance computing, with miners collectively committing over $70 billion to those sectors.

The numbers tell a clean story of…