AI pivot opens optionality, risks miner shortage
MARA is pivoting toward AI instead of continuing to expand Bitcoin mining rigs, and while that creates optionality it also raises the risk of an eventual shortage of miners if others fully switch away.
MARA's shift toward AI rather than expanding Bitcoin mining rigs creates strategic optionality but introduces supply-side risk if peers follow suit and miners become scarce. The stance reflects unresolved tension between two competing strategic paths.