Bitcoin was no exception to Monday's broad market rout, which gives investors a good buying opportunity, according to analysts. The flagship cryptocurrency dropped 11% over the three days ending Monday, according to Coin Metrics, pulling down the performance of stocks related to it. Those names managed to recoup some of their losses on Tuesday.
formerly known as Iris Energy, also has very cheap all-in costs to mine, according to Knoblauch. It's down 15% in the past week. "We still believe IREN can be real in the AI/HPC space, thus, this is a very attractive buying opportunity in what we think is an oversold name," he said. He also highlighted Core Scientific, which has been the subject of a lot of buzz in crypto after turning down an offer from the cloud AI startup CoreWeave to acquire them for $5.75 per share.
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