Bitcoin: Tether, Coinbase and Block continue to buy, but miners are selling for AI

Tether CEO Paolo Ardoino disclosed at the Plan ₿ Forum in Lugano that the USDT issuer holds roughly 150,000 BTC in its treasury, a position worth more than $12 billion at current prices. The disclosure places Tether among the largest corporate bitcoin holders, alongside continued accumulation by Coinbase and Block. Meanwhile, miners are selling portions of their BTC reserves to fund expansion into AI infrastructure, adding a new source of supply pressure on the market. The divergence matters because it shows corporate treasuries absorbing coins that miners are offloading rather than holding. Watch next for Tether's official attestation of the 150,000 BTC figure and for further miner-to-AI capital rotation.