The bank also reduced its price target for Argo Blockchain ADRs to $1.20 from $1.50 and for the U.K.-traded stock to 9.5p from 11.9p.mining was more profitable in June than May as the price of the cryptocurrency rose 2% and the network hashrate dropped by 5%, and as the market adjusted to the effects of the halving, investment bank Jefferies said in a research report on Monday.
The bank noted that a number of bitcoin miners have pivoted towards to high-performance computing and artificial intelligence hosting to diversify their revenue and capitalize on surging demand for AI and cloud computing infrastructure.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin mining company Bitdeer acquires lease for Ohio siteBitcoin mining company Bitdeer has entered into a leasing agreement for a site in Ohio, as the company seeks to expand operations by 570 MW of power.
Source: Cointelegraph - 🏆 562. / 51 Read more »