| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107351.1300000000 |
| ETH | $2438.7270000000 |
| BNB | $649.4419300000 |
| XRP | $2.1834410000 |
| ADA | $0.5600561000 |
| SOL | $150.0002000000 |
| DOGE | $N/A |
| DOT | $3.4075900000 |
| LTC | $86.5975000000 |
| LINK | $13.4317200000 |
Category: CRYPTO NEWS
The post How Analysts Are Rating Bitcoin Miners’ Pivot to AI and Chip Manufacturing appeared on BitcoinEthereumNews.com. Casual observers of Bitcoin miners’ Q4 earnings could be forgiven thinking it’s been nothing but smooth sailing for the industry. But there’s no ignoring the fact that publicly traded Bitcoin miners lost $23 billion off their collective market capitalization in the past month, according to a recent JP Morgan report. It’s not all that surprising given the price of Bitcoin began February above $102,000 and then sank as low as $78,000 while markets were tormented by President Donald Trump’s trade war talk. Apart from hoping Bitcoin’s price goes up, stock analysts told Decrypt that they’re keeping an eye on data center deals, energy costs, and how miners are making their existing fleets more efficient. At the start of the week, Hut 8 reported $162.4 million revenue for 2024—a 69% increase compared to 2023, the company said. But that’s not why Mike Colonnese, a managing director and senior crypto analyst at H.C. Wainwright, said he’s feeling optimistic about the firm. “We think Hut 8 is close to signing a major HPC/AI deal with a hyperscaler,” he told Decrypt. “The company would build and operate an HPC/AI data center for a client in a colocation type of model where Hut would generate long-term high margin revenues from a tenant for managing the infrastructure in which that tenant’s GPUs are deployed to run AI workloads.” To put a cherry on top, the company also noted in its report that it’s managed to slash its energy costs by 30%. That helped it create an 8 point increase in gross margin per Bitcoin mined, when comparing Q4 2024 to the previous year. That’s no easy feat to pull off the same year the Bitcoin network underwent its fourth halving event and slashed the block reward paid to miners by half. In general, Colonnese said he…
2025-03-08T03:31:48+00:00