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JPMorgan: Bitcoin mining companies turning to AI, stock prices depeg from Bitcoin trends
According to Golden Finance, JPMorgan analysts pointed out that the market capitalization of newly listed Bitcoin mining companies has risen significantly since July, while the price of Bitcoin has remained volatile, indicating that mining company stock prices have depegged from Bitcoin trends. Analysts state that mining companies are increasing their investment in artificial intelligence infrastructure to obtain more stable and higher profit revenue, making their stock prices more driven by AI themes rather than Bitcoin prices. At the same time, due to the impact of Bitcoin Halving and rising energy and hardware costs, the profit pressure on mining companies has increased. Large mining companies can flexibly allocate Computing Power between Bitcoin and AI, while small mining companies are exploring other businesses such as Ethereum and Solana.
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