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Bitcoin miners hit with downgrades, winter storm
Amid mounting fears that bitcoin is entering a bear market, bitcoin miners are also facing challenges, including difficult pivots to AI and a winter storm that forced some miners to shutter their operations. KBW analyst Stephen Glagola downgraded several companies, including Bitfarms, Bitdeer, and HIVE, to “market perform” from “outperform.” The stocks all dipped in early trading but recovered those losses in Tuesday’s session. Several bitcoin miners have pivoted to AI to mitigate losses from bitcoin’s lackluster performance and secure steadier cash inflows, but not all have been able to transition ... (full story)
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