Multiple U.S. public Bitcoin miners are reallocating capital from mining to AI/HPC infrastructure and have sold significant BTC reserves to fund the shift. Notable moves: Cypher Mining rebranded to Cipher Digital; large multi‑year, multi‑hundred‑MW leases and partnerships with hyperscalers or hyperscaler‑backed providers (e.g., Microsoft AWS NVIDIA GB300 deals, Google‑backed Fluidstack leases for TeraWulf, Hut 8, Cipher Digital; Core Scientific/CoreWeave; Riot and AMD; MARA/Starwood JV; CleanSpark land buys). Industry observers report mining costs exceed spot for many public miners, prompting sales of BTC and investor skepticism about who will capture long‑term returns from massive AI capex.

Summary states public miners have sold significant bitcoin reserves and are reallocating capital into large AI/HPC leases (specific multi‑MW, multi‑year contracts and rebrands cited), and that average mining costs exceed spot — facts that increase near‑term supply pressure on BTC and make the story relevant for short‑term traders.