Reported 1 day ago
Amid a surge in artificial intelligence and high-performance computing, crypto mining companies are pivoting away from Bitcoin mining, leading to substantial growth in their stock prices. Companies like Cipher Mining and IREN Ltd. have seen their shares soar by 300% and 500% respectively this year as they focus on AI infrastructure, marking a significant shift in how these firms are valued. As the profitability of Bitcoin mining declines, the emphasis is now on utilizing energy efficiency in AI and HPC, raising doubts about the future expansion of Bitcoin's mining capacity.
Source: YAHOO