Major Bitcoin miners that had pivoted toward AI infrastructure are refocusing their messaging on crypto mining to reassure investors amid a broader AI stock selloff. MARA Holdings CEO Fred Thiel stated in a shareholder letter that Bitcoin mining remains the company's core business, while Bitdeer Chief Strategy Officer Haris Basit emphasized the firm does not want to depend on any single market cycle. The shift comes after the 2024 Bitcoin halving compressed profit margins and surging AI compute demand led many miners to strike multibillion-dollar hosting deals for data center services. However, growing concerns over the widening gap between AI capital expenditure and actual revenue, coupled with public opposition to new data centers, have deflated the AI valuation boom and pressured miner share prices. Bitdeer said in its third-quarter earnings report this week that Bitcoin mining will continue to contribute most of its revenue in the near term, even as its AI platform expands. Analysts note that companies with substantive mining operations can ease market concerns about leverage and cash flow pressure by reaffirming their core crypto business.