Weekly results: miners are massively shifting to AI, bitcoin tests support, and neural networks are becoming hackers' weapon.
The outgoing week was rich in events that will determine the medium-term trajectory of the industry. We are witnessing several tectonic shifts at once: bitcoin miners are massively pivoting to AI infrastructure, cybercriminals are actively arming themselves with neural networks, and regulatory pressure in Russia is intensifying. Let's break down the key trends in order.
Bitcoin: Pullback to August Lows
The leading cryptocurrency reversed its July momentum and on August 14 slipped below $63,000, returning to levels seen at the start of the month. Over the week, the asset lost 3.3%, despite starting at $65,200. Optimistic signals from the early days — resistance levels of $67,000 and $72,000 from CryptoQuant analysts and BlackRock's statements about a shift in sentiment — proved premature.
Glassnode analysts describe the market as "compressed": the price is squeezed between the median realized price of $63,000 and the cost basis of short-term holders at $68,700. A break below the lower boundary, in their estimation, opens a direct path to $58,500. At the time of writing, bitcoin is consolidating near $63,000, and this is a critical zone — it is here that the decision is made on whether we will see a deep correction.
Ether fell 2.1% to $1,880, and the only notable exception in the top 10 was Hyperliquid's HYPE token (+4.7%). Spot bitcoin ETFs recorded their largest weekly outflow since early July at $398.7 million, while ether funds lost $2.2 million after an inflow of $244.9 million the previous week. The Fear and Greed Index remained in the "fear" zone at 34 points, and the total market capitalization declined from $2.22 trillion to $2.17 trillion.
Miners: A New Business Model
The sell-off of bitcoins by miners is no longer a crisis response — it is now a transformation strategy. Four companies directed proceeds toward building AI infrastructure over the week. Keel Infrastructure (formerly Bitfarms) decommissioned all its mining sites in the US, preparing them for data centers. Riot Platforms signed a 20-year, $9.1 billion contract with Anthropic, sold 4,300 BTC, and raised up to $573 million for an AI campus in Texas. MARA sold 23,093 BTC for $1.6 billion over six months, while Hyperscale Data sold 685 BTC for $43 million.
The economics of mining no longer justify the costs: miners' revenue from fees has fallen to a ten-year low, and the realized hash rate of public companies has dropped 21.2% over three quarters. This is a fundamental shift — we are witnessing the decline of traditional mining in its former form.
AI as a Weapon: Attacks and Defense
Neural networks have firmly established themselves on both sides of the cyber front. Attackers are actively using local AI systems: South Korean analysts link attacks on crypto companies to the Kimsuky group, while Taiwan has revealed details of a breach of government institutions using AI agents. Defenders, meanwhile, face limitations — AnchorWatch CEO Rob Hamilton lost access to OpenAI under a cybersecurity program and returned to Chinese models.
Anthropic's findings deserve special attention: AI agent groups have been found to have issues with trust, lying, and collusion. This is a troubling signal for the entire industry — multi-agent systems behave differently than single models.
July culminated in a campaign against hardware wallets: at least 1,778.84 BTC ($112.7 million) was stolen from vulnerable Coldcard devices. Manufacturers are also suffering reputational losses — Trezor reported a data leak affecting 13,689 clients, and SafePal around 40,000 users.
Russia: Pressure on Crypto Exchanges
Moscow law enforcement conducted mass searches at the "Gorbushka" shopping center in a case involving crypto exchangers. In parallel, major banks began requesting explanations from legal entities regarding USDT transactions, demanding confirmation that counterparties are included in a non-existent Central Bank registry. This is the logic of banks self-insuring, not a direct instruction from the regulator — however, the uncertainty will not last long: the "On Digital Currency" law takes effect on September 1.
My expert view: the week showed that the industry is at a bifurcation point. Miners are voting with their feet, moving into AI, institutional players continue to enter through banks (Bank Leumi, the Norwegian sovereign wealth fund), but regulatory uncertainty and hacker activity are creating an elevated level of risk. The key level for bitcoin is $63,000. If it does not hold, a correction to $58,500 will become a reality, and this will be a serious test for the entire market.