Bitcoin Reclaims $64K as Miners Shift Computing Power to AI
Bitcoin rose 1.7% to $64,200 on August 18, reclaiming a key price level supported by ETF inflows. Miners continue reducing computing power by roughly one-fifth to allocate resources toward artificial intelligence, while rising leverage on the recovery poses pullback risk.
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Story Updates
- Updated Aug 19, 2026, 02:01 AM: ETF inflows confirmed as driver of August 18 rebound; leverage risk flagged as pullback threat.
Price Recovery Supported by Inflows but Facing Leverage Risk
Bitcoin traded near $64,200 on August 18, up 1.7% on the day according to Crypto.news data. ETF inflows supported the rebound from the $62,600 level, improving short-term momentum. However, rising leverage on the recovery has left the move exposed to a pullback, and the daily chart continues to signal caution despite the intraday gains.
Miners Redeploying Hardware to AI Workloads
Mining operations have cut computing power by approximately one-fifth over the past three quarters, according to CoinDesk reporting. Industry sources attributed the reduction to miners allocating hardware capacity toward artificial intelligence workloads, which have offered more attractive near-term returns than bitcoin block rewards. This represents a material shift in how major mining operations are deploying their capital and energy resources.
Separate Sector Moves
In unrelated news, Venice's token jumped 10% after the company announced it had crossed $100 million in annualized revenue, according to CoinDesk. The gain underscores investor appetite for tokens tied to profitable infrastructure operators, even as broader bitcoin price action remains constrained by leverage concerns.
Why It Matters
For Traders
Rising leverage on the $64,200 recovery increases pullback risk; ETF inflow support is fragile and may reverse on minor negative catalysts.
For Investors
Sustained miner capital flight to AI workloads continues to weigh on long-term bitcoin security; hashrate and hardware deployment trends warrant ongoing monitoring.
For Builders
Mining competition shifting toward AI may lower entry barriers for solo and smaller-scale bitcoin operations if hardware supply loosens.
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