Bitcoin (BTC-USD) ran into resistance at the $80,000 mark as traders locked in gains following the token’s largest weekly advance in over three years. The cryptocurrency traded near $78,300 in New York after briefly pushing past $81,000. BTC prices remain up about 22% since Treasury Secretary Scott Bessent announced plans to double purchases of outstanding long-term debt, though buying momentum slowed ahead of Federal Reserve Chair Kevin Warsh’s upcoming Jackson Hole speech.
Despite the price pause, institutional demand provided ongoing support to BTC through traditional investment vehicles. U.S.-listed spot Bitcoin ETFs recorded $314 million in net inflows on Tuesday, extending a five-day streak of daily inflows exceeding $300 million. Technical indicators present mixed signals, with relative strength index readings showing overbought conditions while large holders continue selective token accumulation.
Mining Companies Pivot Compute Power to AI Infrastructure
While traders watch price levels, Bitcoin mining firms are shifting data center capacity toward artificial intelligence workloads. Mining rewards have decreased since the token fell from its October 2025 peak near $124,000. Operators are leveraging their power access and data center experience to secure long-term contracts with AI developers like Anthropic.
Major industry players (including TerraWulf ($WULF), Core Scientific ($CORZ), Iris Energy ($IREN), Bitdeer ($BTDR), and Riot Platforms ($RIOT)) are directing infrastructure to high-performance computing. Riot Platforms signed a 20-year compute deal valued at $9 billion with Anthropic, while Bitdeer secured a 16-year deal. Wolfie Zhao, an industry analyst at The Energy Mag, points out that 10- to 20-year AI computer rentals give mining firms steady, long-term income, making it almost impossible to switch back to Bitcoin mining.
At the time of writing, Bitcoin’s price is sitting near $78,338.
