Bitcoin Miners Dumping BTC? Mara CEO Fred Thiel On AI Pivot, Next Price Breakout

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Fred Thiel, CEO of Marathon Digital Holdings, explains why Bitcoin corrected in November 2025 and describes how his company is diversifying into AI computing while continuing to mine Bitcoin rather than selling holdings to fund the transition like competitors.

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*This video was recorded on December 9, 2025.

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0:00 - Intro.
0:51 - Why Bitcoin dumped in November
6:00 - Are miners selling Bitcoin to fund AI pivots?
14:05 - Mara’s Bitcoin treasury and mining
22:06 - Zero-cost energy strategy
25:06 - Institutional investment thesis for miners
29:25 - Hashrate vs price divergence and becoming “energy companies”
33:32 - Crypto and governments
38:00 - Flexible loads and energy usage

#bitcoin #economy #investing