Mining company stocks have outperformed Bitcoin in terms of growth. Prices are growing in a context of market interest in the development of AI technologies, which contributes to the demand for miners’ infrastructure and, consequently, their shares.
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Shares of crypto mining companies in June 2024 surpassed Bitcoin in terms of value growth. This was reported by Coindesk.
The total market capitalization of 14 mining companies whose shares are traded on US exchanges amounted to $22.8 billion as of June 15. In particular, Core Scientific shares rose in price by 117%, while the first cryptocurrency fell in price by 3%.
The main contribution to the growth in the value of companies’ securities was the signing of an agreement between the mining company Core Scientific and the cloud services provider Coreweave for $3.5 billion. The company will provide its infrastructure to train AI models.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
