Donald Trump’s pledge to make, mine and mint every Bitcoin in the US is weakening as AI data centers outbid miners for electricity and infrastructure, while Bitcoin’s market value remains roughly $1 trillion below its October 2025 peak. Bloomberg reported that Bitcoin mining was using 18% less computing power than in October 2025, with U.S.-listed public miners accounting for the largest share of the decline. Ethan Vera, chief operating officer of Luxor Technology, expects public miners to generate most of their revenue from AI rather than Bitcoin by year-end. Foundry USA’s share of total Bitcoin network computing power has fallen from more than one-third to 26%, while Chinese pools AntPool and F2Pool have gained share. The shift reverses the post-2021 trend that followed China’s mining crackdown and made the US the leading mining center. Cointelegraph reported September 9, in material attributed to JH Kim, that AI data centers require massive amounts of electricity and are securing supply first, making electricity access a key operating variable for US miners. Financial pressure is also visible at American Bitcoin Corp., a Trump family-backed miner that has posted losses for three consecutive quarters and seen its shares fall roughly 90% over the past year. Mining hardware startup Auradine rebranded as Velaura AI in March and raised $110 million in August at a valuation above $1 billion, adapting technology developed for Bitcoin-mining chips for AI infrastructure.