Bitcoin Miners Are Quitting and That's the Best News All Year [FOCUS]

In this FOCUS episode, Jesse breaks down the AI pivot sweeping through Bitcoin mining — and why the miners still online are quietly winning.

Public miners like Marathon, Core Scientific, TeraWulf, and Bitfarms are selling Bitcoin at record pace, unplugging hash rate, and redirecting billions into AI infrastructure. The result: network difficulty is dropping for the first time in years and hash rate is stagnating.

Jesse walks through the latest headlines chronologically — from CoreWeave's $8.5B loan to OpenAI's $110B funding round — and explains the self-reinforcing loop driving the exodus. His thesis: if your breakeven is low enough to survive this slump, you'll earn more BTC per terahash as competitors exit.

TIMESTAMPS:

0:00 Introduction & current network stats

1:21 AI pivot news breakdown

4:56 Public miners selling BTC at record pace

6:17 Jesse's thesis: why survivors win

7:50 Hash rate & difficulty outlook for 2026

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