Bitcoin Mining Stocks Surge Amid Favorable Macro Trends and AI Integration š
Bitcoin #mining stocks spiked on October 28, with companies like Bitdeer Technologies leading gains as high as 24.4%. This rally follows Bitcoin surpassing $70,000, driven by global liquidity from deficit spending and lower interest rates. Analyst Mitchell Askew of Blockware highlighted that investors are turning to Bitcoin to hedge against #inflation , as treasury bonds perform poorly.
Additionally, miners are expanding into #AI and high-performance computing, boosting profits. Notably, some miners with older equipment struggled post-April halving, but mining conditions are improving, and BRICS nations are exploring Bitcoin as an alternative to the U.S. dollar for trade.
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