Bitcoin mining companies like Core Scientific (CORZ), Cipher Mining (CIFR), Iren (IREN), and CleanSpark (CLSK) have transitioned to artificial intelligence data centers, which provides a “new source of deep-pocketed customers” at a time when the bitcoin mining business has cooled amid lower cryptocurrency prices, Vicky Ge Huang of Wall Street Journal reports. Signing deals with the miners allows the large AI companies to expand faster and cheaper than starting new data center facilities from scratch, according to the Journal. The CoinShares Bitcoin Mining ETF (WGMI) has risen 90% this year, the paper points out.
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