Stocks Analysis by Investing.com (David Wagner) covering: BTC/USD, HIVE Blockchain Technologies Ltd, Bitcoin, Bit Digital Inc. Read Investing.com (David Wagner)'s latest article on Investing.com
More and more crypto mining companies are diversifying into AI.In this article, we'll take a look at stocks that may be posed to benefit the most from this pivot.Faced with increasing pressures such as rising energy costs, regulatory scrutiny, and market volatility, mining companies are exploring new revenue streams to sustain and grow their businesses.
Recognizing this, many mining companies are reallocating their existing infrastructure to AI. This pivot enables them to leverage their high-performance hardware for tasks such as data analysis, natural language processing, and image recognition. However, it's also the worst-performing stock on the list over a one-month horizon and the only one with a below-average InvestingPro Health Score .However, Fair Value is based on valuation models, which are themselves based on cash flows. By definition, therefore, they cannot take into account the potential linked to the transition of crypto miners to AI-related activities.
Much remains to be done, but this year is undoubtedly an important turning point for the industry, and in this context, stocks such as Hive Blockchain, Iris Energy, and Bit Digital deserve their place on investors' radar.
HIVE Blockchain Technologies Ltd Bitcoin Bit Digital Inc
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