Analysis: Driven by the macro environment and artificial intelligence diversification strategies, the stock prices of Bitcoin mining companies have risen significantly

Mitchell Askew, chief analyst at Bitcoin mining company Blockware, pointed out that the macroeconomic environment is becoming increasingly favorable, and mining companies continue to diversify into the field of artificial intelligence. Askew said: "Deficit spending and lower interest rates are driving global liquidity up, and investors are worried about long-term high inflation, as evidenced by the poor performance of government bonds since the September rate cut." As a result, investors turned to the Bitcoin market, and trading in Bitcoin mining company stocks is in a "testing phase." Askew added that some Bitcoin mining companies have also benefited from diversification strategies into artificial intelligence and high-performance computing. Yesterday, Bitcoin mining company stocks generally rose, among which Bitdeer Technologies (BTDR) rose the most, up 24.4%, while IREN (IREN), Gryphon Digital Mining (GRYP) and Hut 8 (HUT) rose 17.8%, 16.5% and 15.5% respectively. Marathon Digital (MARA) and CleanSpark (CLSK) rose 11% and 10.2% respectively, while Riot (RIOT) rose 9.5% on the day; TeraWulf (WULF) and Core Scientific (CORZ) also performed strongly. Askew said that miners who became unprofitable after the Bitcoin halving event in April 2024 once "capitulated" and they were "a significant source of selling pressure", so the easing of this situation is beneficial to BTC price trends, "and the fact that mining difficulty is about to increase for the third time also proves this fact." (Cointelegraph)