Bitcoin miners are releasing their production updates for May, the first full month since the latest Bitcoin halving event, and in its wake, some big players are making significant moves to add revenues through strategic deals and diversifications.
JPMorgan analysts see the Core Scientific news as making the entire sector more attractive to potential buyers. The Core Scientific news is most impactful to Iris Energy , according to JPMorgan, which said Iris was early to embrace HPC and has secured the rights to develop more than 2 gigawatts of power. TeraWulf has also announced pilot HPC programs.
Shareholders appear to favor M&A potential over reducing miner rewards, as several aforementioned stocks have surged this week.
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