{"id":125879,"date":"2025-03-26T20:17:00","date_gmt":"2025-03-26T20:17:00","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125879"},"modified":"2025-03-26T20:17:00","modified_gmt":"2025-03-26T20:17:00","slug":"bitcoin-mining-stocks-down-after-microsoft-scraps-data-center-plans","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125879","title":{"rendered":"Bitcoin mining stocks down after Microsoft scraps data center plans"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) mining stocks are down after tech giant Microsoft reportedly scrapped plans to invest in new artificial intelligence data centers in the US and Europe, citing a potential oversupply, according to a report by Bloomberg and data from Google Finance.<br \/>\nShares of crypto miners Bitfarms, CleanSpark, Core Scientific, Hut 8, Marathon Digital and Riot dropped between 4% and 12% in tandem with the news, the data showed.<br \/>\nThe stock price retrenchments highlight cryptocurrency miners\u2019 increased dependence on business from artificial intelligence models after the Bitcoin network\u2019s April 2024 \u201chalving\u201d cut into mining revenues.<br \/>\nCORZ intraday performance on the Nasdaq. Source: Google FinanceMiners are \u201cdiversifying into AI data-center hosting as a way to expand revenue and repurpose existing infrastructure for high-performance computing,\u201d Coin Metrics said in a March report.<br \/>\nFor example, in June 2024, Core Scientific pledged 200 megawatts of hardware capacity to support CoreWeave\u2019s artificial intelligence workloads.<br \/>\nIn August 2024, asset manager VanEck said Bitcoin mining stocks could collectively see a roughly $37 billion bump to market capitalizations if they invest heavily in supporting AI.<br \/>\nNevertheless, miners have struggled this year as declining crypto prices worsen pressures on businesses already impacted by April\u2019s halving, JPMorgan said in March. Waning demand for AI data centers could add further strain.<br \/>\nBitcoin miners could see gains in valuation from pivoting to AI. Source: VanEckRelated: Bet more on the Bitcoin miners cashing in on AI<br \/>\nCutting back on compute<br \/>\nOn March 26, analysts at TD Cowen said Microsoft had abandoned plans to build several new data centers that would have generated some 2 gigawatts of power, according to Bloomberg.\u00a0<br \/>\nThe analysts reportedly attributed Microsoft\u2019s pullback to a perceived oversupply of computing capacity for AI models, as well as the tech giant\u2019s decision to forgo some planned collaborations with ChatGPT maker OpenAI.\u00a0<br \/>\nIn the past six months, Microsoft has canceled various data center leases and delayed plans to onboard more capacity, according to Bloomberg.\u00a0<br \/>\nMicrosoft\u2019s data center investments are expected to slow further in the second half of 2025 as the company finishes $80 billion in planned buildouts and pivots to outfitting existing centers with hardware and equipment, Bloomberg said.\u00a0<br \/>\nMagazine: Memecoins are ded \u2014 But Solana \u2018100x better\u2019 despite revenue plunge<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-mining-stocks-down-after-microsoft-reportedly?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) mining stocks are down after tech giant Microsoft reportedly scrapped plans to invest in new artificial intelligence data centers in the US and Europe, citing a&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125879"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125879"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125879\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125879"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}