Analyst Stephen Glagola from KBW downgraded bitcoin mining companies HIVE, Bitfarm, and Bitdeer. The downgrade is based on concerns that shifting their business models toward artificial intelligence (AI) and high-performance computing (HPC) will take longer to generate returns than the market currently expects. This reflects caution about the speed and profitability of diversification efforts by crypto mining firms.
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Bitcoin Miners HIVE, Bitfarm, and Bitdeer Downgraded Amid AI Business Model Transition Concerns
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