๐ Bitcoin Mining Stocks Are Soaring! ๐
Bitcoin mining stocks are on fire as takeover rumors spread! ๐ค Wall Street analysts think miners with great power contracts could be hot M&A targets.
On Thursday, shares of miners like Stronghold (SDIG), Core Scientific, and TeraWulf (WULF) surged over 15%, with Iris Energy (IREN), Mawson (MIGI), Cathedra (CBIT), and Argo Blockchain also gaining more than 10%.
Recently, Riot Platforms (RIOT) made a hostile bid for Bitfarms (BITF), and AI firm CoreWeave proposed buying CoreScientific (CORZ). Both offers were rejected, but they've highlighted the potential for industry mergers.
Analyst Lucas Pipes from B. Riley says that attractive power contracts and low valuations could spark a wave of consolidations. JPMorgan analysts agree, noting that AI and cloud firms might eye bitcoin miners to diversify power sources, especially post-Bitcoin halving.
Get ready for a possible consolidation wave led by big players like Riot and Marathon Digital (MARA)! ๐ฅ๐
