Bitcoin oscillates around $80000, what are miners' choices? A tweet was posted in the early hours of the morning stating that miners are not currently selling a large amount of BTC, but the overall computing power is indeed declining. From the high point on November 11, 2025, to now, the overall mining difficulty of Bitcoin has decreased by 17.75%. The decrease in difficulty indicates that high cost miners have begun to withdraw, or at least shut down temporarily. The pressure on miners this time comes not only from the fluctuation of BTC prices, but also from the scarcity of electricity resources. In the past, miners competed for cheap electricity, abandoned electricity, and marginal electricity, with the core competition being mining machine efficiency and electricity cost. But now AI data centers are also competing for power, and the buyers behind AI computing power are companies with stronger credit, longer contracts, and higher payment capabilities such as Microsoft, Google, Amazon, and Meta. For the same amount of electricity, AI data centers can offer higher prices and are more likely to lock in long-term stable electricity. This will directly compress the living space of Bitcoin miners. The difficulty has decreased this time, with a decrease in computing power on the surface and a redistribution of power resources from low value-added computing power to high value-added computing power on the deeper level. The fact that miners haven't sold a large amount of BTC indicates that they haven't surrendered yet. But the decline in computing power indicates that some mining sites have begun to be forced to withdraw. The moat for future mining companies is not simply about computing power scale, but about power resources, data center resources, grid connection capabilities, and whether they can switch between BTC mining and AI/HPC.