Reported 6 months ago
Bitcoin mining stocks like Stronghold, Core Scientific, and TeraWulf saw over 15% gains as takeover offers in the industry attracted investor attention, with Riot Platforms launching a hostile bid for Bitfarms and CoreWeave proposing to acquire CoreScientific. Despite rejections from the targets, the takeover attempts signal potential industry mergers, especially as analysts predict a consolidation phase driven by power contracts and valuations, attracting interest from AI and cloud computing firms seeking diversified power sources and prompting weaker firms to consider exits post-Bitcoin halving.
Source: YAHOO