Bitcoin Mining Stocks Strong on AI Infrastructure Expectations... RWA Market Expansion Also Noted
Bitcoin mining stocks continued their rebound in the US market, driven by expectations of increased demand for artificial intelligence (AI) and high-performance computing (HPC). Concurrently, the Real-World Asset (RWA) market grew 42% this year to $51 billion, and Ethereum liquid staking project Kelp DAO announced the completion of its 'rsETH' recovery. According to Cointelegraph on the 23rd, Bitcoin mining companies saw widespread gains on Tuesday. Terawulf ($WULF) surged up to 17% intraday on news of a Kentucky data center site acquisition, while Hut 8 ($HUT), IREN ($IREN), and Riot Platforms ($RIOT) also rose over 5%. This trend reflects a growing number of mining operators shifting their power infrastructure and data center assets towards AI and HPC, moving beyond simple Bitcoin mining.
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