Bitcoin miners' reserves have steadily declined since the halving event in April, hitting three-year lows. This trend reflects significant selling pressure amid volatile BTC prices.

### Bitcoin Miner Holdings Hit New Lows

Before the April 20 halving event, experts anticipated challenges for miners due to reduced block rewards. This prediction has proven accurate, with Bitcoin miner holdings dropping significantly over the past months.

According to CryptoQuant, miner reserves have decreased from 1.84 million BTC last year to approximately 1.80 million BTC now, marking the lowest levels since Bitcoin's early days. The reserves are down 50% from previous highs, indicating increased selling activity. This selling is likely driven by rising operational costs as miners sell Bitcoin to afford better equipment and maintain financial stability.

Higher electricity costs and the need for more efficient hardware are also increasing mining expenses. Bloomberg reported that miners could lose $10 billion annually due to the halving cycle's impact, exacerbated by mining hash rates hitting three-year lows.

After the April halving, Bitcoin's price saw significant drops, with trading volumes plummeting, suggesting declining investor interest. However, Bitcoin recently surged past $71,000, partly due to increased investor inflows into Spot Bitcoin ETFs and the approval of Ethereum Spot ETFs, which boosted BTC interest.

### BTC Miners Turn to AI

With dwindling reserves, many miners are now leveraging Artificial Intelligence (AI) for revenue generation. Core Scientific, a major BTC miner, recently announced a 12-year partnership with CoreWeave, an AI-focused cloud provider. This collaboration aims to generate over $3.5 million in revenue, highlighting a new revenue stream for miners amidst the challenging landscape.