Bitcoin miners are having a moment. Their stock prices have recently outperformed other parts of the crypto sector, even as bitcoin itself drifts.
But as Steve Ehrlich reports, the rally has little to do with Bitcoin mining profitability. Instead, AI firms are looking to repurpose miners’ existing data center infrastructure for high-performance computing (HPC) workloads.
The catch? Once miners make the switch to AI, it’s extremely difficult (and expensive) to go back. And this shift could push U.S. hash rate overseas, complicating policy ambitions to keep Bitcoin mining at home.
Read Steve’s full story here: https://unchainedcrypto.com/bitcoin-mining-stocks-are-outperforming-dats-but-is-it-a-good-sign-for-bitcoin/