Lekker Capital CIO Flags Bitcoin Miner AI Pivot As Potential Treasury Supply Overhang

Lekker Capital CIO Quinn Thompson warned on X that deteriorating mining economics, together with listed miners pivoting toward AI and high-performance computing, could release their BTC treasury holdings back into the market. He argued that only a hashrate decline led by AI-focused operators such as CORZ, WULF, CIFR and IREN can restore profitability, but the capital-intensive transition is already being funded through sizeable Bitcoin sales and balance-sheet drawdowns. As of the latest update, Bitcoin was trading at $72,322, highlighting the potential tension between long-term network health and near-term price headwinds.