Bloomberg: Crypto mining companies riding the AI boom are gradually abandoning Bitcoin

BlockBeats News, October 18, according to Bloomberg, the stocks of large computing companies that support the operation of bitcoin have once again outperformed bitcoin itself, as more and more companies shift to a hybrid model centered on artificial intelligence and high-performance computing.

These companies were initially referred to as "mining companies," drawing an analogy between the process of creating bitcoin and the extraction of traditional precious metals such as gold. However, they have long been affected by fluctuations in the price of bitcoin. Two years ago, the industry benefited from the early stages of the AI boom, but in the following year, as mining profits declined and competition intensified, their stock prices fell again.