Bloomberg: Cryptominers Riding AI Wave Are Gradually Abandoning Bitcoin

BlockBeats News, October 18th, according to Bloomberg, the stocks of large computing companies that support the operation of Bitcoin once again outperformed Bitcoin itself, as more and more companies are turning to a hybrid model centered around artificial intelligence and high-performance computing.

These companies were early on referred to as "mining companies," stemming from the analogy between the creation process of Bitcoin and the mining of traditional precious metals (such as gold), but they have long been affected by Bitcoin price volatility. Two years ago, this industry benefited from the AI frenzy, but in the following year, their stock prices declined again due to reduced mining profits and increased competition.