Sep. 14 at 12:03 PM
$MSTR $RIOT $CIFR $MARA $COIN
AI boom, crypto slump hurt Trump's plan for U.S. Bitcoin mining, Bloomberg says
President Donald Trump's pledge to ensure Bitcoin mining activity is U.S. centered is disintegrating under the AI boom and crypto slump, David Pan and Ryan Weeks of Bloomberg reports. Increased AI consumption has triggered miners to convert facilities into data centers and, by year end, public miners are expected to generate most of their revenue from AI. Bitcoin mining is using 18% less compute power today compared to October of last year, and the market is shifting toward China and Russia.
TeraWulf (WULF), Riot Platforms (RIOT), Cipher Mining (CIFR) and Hut 8 (HUT) are AI data center developers with legacy Bitcoin mining roots. Publicly traded companies in the cryptocurrency space include Bit Digital (BTBT), Bitfarms (BITF), Circle Internet (CRCL), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings (MARA), Strategy (MSTR), and Stronghold Digital Mining (SDIG).