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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
Crypto:
The biggest winners of this year’s crypto comeback aren’t Bitcoin holders but the miners themselves.
Shares of the large-scale computing outfits that make Bitcoin work are once again outperforming the original cryptocurrency, as more pivot to hybrid models built around artificial intelligence and high-performance computing.
Long-ago dubbed miners because of the perceived similarities to the mining of traditional commodities such as gold when creating Bitcoin, the companies have often been at the mercy of the volatile price swings experienced by the token. Two years ago, the sector benefitted at the initial start of the AI boom, only to see their share prices tumble the following year as mining profitability declined and competition increased.
Crypto Miners Riding the AI Wave Are Leaving Bitcoin Behind – Bloomberg.com
