** Bitcoin mining companies at a crossroads: stick to it or transform? **

Hello everyone, today we are going to talk about the latest developments of Bitcoin mining companies! Recently, Bitcoin mining companies are facing an important choice: continue to focus on Bitcoin mining, or turn to the fields of artificial intelligence (AI) and high-performance computing (HPC)? Let's take a look at this interesting story together!

First, let's take a look at those mining companies that stick to the main business of Bitcoin mining. In September, the largest mining companies by market value, such as MARA Holdings (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK), all increased their share of the total mined Bitcoin. These companies have strong balance sheets and large-scale mining operations, which enables them to cope with the decline in profitability after the Bitcoin halving in April. However, despite the outstanding performance of these companies in Bitcoin mining, investors do not seem to give them the premium they deserve, and their stock prices remain sluggish in September.

So why are investors not interested in these companies that stick to Bitcoin mining? One important reason is the recent approval of the spot Bitcoin ETF in the United States. This move has reduced investors’ interest in mining stocks, as they can more conveniently invest in Bitcoin through ETFs without taking on the operational risks of mining companies.

In contrast, mining companies that focus on AI and HPC computing, such as Core Scientific (CORZ), TerraWulf (WULF), and IREN (IREN), have outperformed Bitcoin. The halving in April reduced Bitcoin mining rewards by 50%, making mining more competitive and narrowing profit margins. As a result, these companies chose to diversify their revenue by dedicating some of their data centers to hosting AI and HPC-related machines. This strategy has obviously been recognized by investors, as the stocks of these companies have risen by 4% to 9% in September, while the stocks of mining companies related to AI and HPC have risen by as much as 25%.

AI and HPC computing require a lot of electricity, and Bitcoin miners have already obtained these resources, making them an ideal choice for AI and HPC companies to quickly expand their operations. In this way, Bitcoin miners can not only continue to use existing resources, but also increase revenue through diversified operations. Why not?

In general, Bitcoin mining companies are at a critical crossroads: should they stick to the main business of Bitcoin mining, or turn to the fields of AI and HPC? Each choice has its pros and cons, and the key lies in how to balance risks and benefits.

Dear readers, what do you think of the future development direction of Bitcoin mining companies? Should they continue to stick to Bitcoin mining, or turn to the fields of AI and HPC? Welcome to share your views and insights in the comment area! 😊

Looking forward to your wonderful comments!