The bank notes that the total market cap of the 14 miners it tracks has grown by 22%, or $4 billion, since the announcement, versus a 7% drop for bitcoin and a 3% increase for the S&P 500 stock index.
This is a reflection of the "alternative (and potentially more accretive) use cases for mining facilities and the scarcity and value of power access," analysts Reginald Smith and Charles Pearce wrote.
Iris Energy, best positioned for HPC/AI opportunities, has excess power capacity and isn't solely tied to bitcoin. They're already running GPUs and are known for timely, quality data centers.
#bitcoin-mining #investor-interest #alternative-use-cases #artificial-intelligence #high-performance-computing
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