United States-based Bitcoin miner Crusoe Energy is wrapping up its Bitcoin mining business as it plans to shift focus towards the artificial intelligence sector.

According to a recent press release, Crusoe will sell 425 of its modular data centers— spanning sites across Colorado, North Dakota, Montana, Wyoming, New Mexico, Utah, Texas, and Argentina — with a combined 270 megawatts of power generation capacity, to the New York Digital Investment Group.

The deal also includes its Digital Flare Mitigation business, and around 135 employees will transition to NYDIG.

“Our innovative approach to energy utilized for mining is uniquely complementary to NYDIG’s bitcoin custody, institutional trading and mining businesses, creating a consolidated business that is more valuable than the sum of its parts,” Chase Lochmiller, CEO and co-founder of Crusoe, said regarding the acquisition.

NYDIG, which already has a strong presence in Bitcoin custody, trading, and mining, plans to continue operating and investing in the newly acquired business. In a separate announcement, the firm said the move will help support Bitcoin’s proof-of-work mechanism and contribute to the network’s long-term security.

Founded in 2018, Crusoe Energy was among the first U.S. Bitcoin mining firms to harness wasted natural gas to fuel the high-performance computing needed for both crypto mining and AI workloads. 

Now, the company says it’s ready to shift gears and focus on scaling its AI infrastructure.

“We will continue to channel the same energy-first mentality towards scaling AI infrastructure and accelerating the adoption and proliferation of AI in our everyday lives,” Lochmiller added.

Signs of a transition to AI had already emerged in 2024, when Crusoe announced a multibillion-dollar deal with energy tech firm Lancium to build a 200-megawatt AI data center in Abilene, Texas.

Touted as the “first phase” of a larger expansion, the facility was set to tap into up to 1.2 gigawatts of clean power and support GPU clusters designed for AI training and inference at scale.

At the time, Lochmiller called the project a unique opportunity to “sustainably power the future of AI.” Although a specific launch date wasn’t confirmed, the facility was expected to go live in 2025.

Crusoe’s transition to AI comes at a time when the U.S. government is also turning its attention to the sector. Since returning to office in 2025, President Donald Trump has signed an executive order aimed at encouraging American leadership in artificial intelligence.

Bitcoin’s (BTC) recovery looks to have run out of steam with an emergence of a double top bearish reversal pattern on the short duration price charts.

BTC peaked near $87,400 last week, with prices pulling back to around $84,000 on Friday and staging a recovery to above $87,000 before stalling again. This sequence of two prominent peaks at roughly the same level, separated by a trough, hints at a classic double top formation. This bearish pattern often signals the end of an uptrend.

The double top pattern typically requires confirmation through a decisive drop below the “neckline,” the support level between the two peaks, which lies at around $86,000.

Should this occur, BTC could decline toward $75,000 or lower in the short term. However, long-term charts continue to indicate the asset remains in an ascending range.

Traders reacted positively to the U.S. Federal Reserve’s dovish stance on inflation and a cooldown in concerns around the upcoming U.S. tariffs, which have supported gains in the past week.

However, the lack of altcoin correlation with BTC’s recent moves hints that the current price action might lack broad market support, raising the possibility of a “fakeout” rally.

A potential drop in BTC will likely spread over to major tokens, denting recent gains and hopes of a lasting rally. Dogecoin (DOGE), heavily influenced by market sentiment and speculative trading, could see amplified losses if bitcoin’s bearish pattern plays out, while XRP might see reduced momentum, especially given its sensitivity to market sentiment and regulatory developments.

Solana could be particularly sensitive due to its recent volatility and technical indicators — with it coming close to forming a “death cross” (a bearish signal where the 50-day moving average crosses below the 200-day) in mid-April, a pattern that historically leads to deeper losses.

For now, bitcoin hovers in a critical zone. A weekly close below $84,000 could confirm the bearish double top scenario, while a push above $87,500 might invalidate it, potentially reigniting bullish momentum.

An analyst who accurately called Bitcoin’s correction in early 2024 believes BTC remains in a bull market after bouncing from a 2025 low of $76,000.

Pseudonymous analyst Rekt Capital tells his 542,00 followers on the social media platform X that Bitcoin’s current bull market cycle has yet to reach a peak.

“BTC bull market progress: 82.5%. (Progress will speed up on parabolic advances and slow down on deeper retraces).”

The analyst also tells his 107,000 YouTube subscribers that Bitcoin’s latest correction to $76,000 is not the sign of a beginning bear market based on historical precedence.

“Many people have been talking about this being a bear market, but it does look like it is a downside deviation period very similar to what we’ve seen back in the past. Obviously, these downside deviation periods are changing across time, but it’s really important to look at the charts in a level-headed manner and try and look at it in an unbiased way and not scream bear market whenever we see a pullback that is actually very similar to the one we saw here [in 2024].

This was a 32% pullback [in 2024]. This is a 30% pullback [when Bitcoin corrected to the $76,000 range this month], so very similar downside deviation in that regard, but really important to keep level-headed and look at the data, look at the chart, and zoom out when in doubt.”

In technical analysis, a downside deviation is a setup where an asset breaks its immediate support to print a false breakdown before igniting a recovery and rallying to new highs.

Bitcoin is trading for $88,028 at time of writing, up 3.4% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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