Bitcoin miner Cipher Mining is reportedly exploring a potential sale following interest from potential buyers, according to Bloomberg.
The company has initiated discussions but has not yet committed to pursuing a sale, indicating early-stage deliberations.
Driven by the burgeoning demand for data centers amid the AI industry’s rapid expansion, Bitcoin miners have faced revenue challenges since the April halving event.
This financial strain has prompted many in the sector to consider strategic options. JPMorgan analysts highlighted the trend of AI firms and Hyperscalers exploring alternatives like leasing power or acquiring data center capacity from Bitcoin miners, given the constraints in immediate power access.
In parallel developments, Core Scientific, a North American Bitcoin miner, recently secured long-term contracts with CoreWeave, an AI Hyperscaler, while CleanSpark acquired GRIID Infrastructure for $155 million.
The competitive landscape has also seen Riot Blockchain attempting a hostile takeover of Bitfarms, underscoring the intensified competition within the global market.
Commenting on the industry dynamics, Kerrisdale Capital expressed skepticism about the sustained competitiveness of US-listed Bitcoin miners, given the sector’s high commoditization and growing international competition.
Ethereum co-founder Vitalik Buterin has voiced concerns over the rise of zero-knowledge (ZK) digital identity projects, specifically warning that systems like World — formerly Worldcoin and backed by OpenAI’s Sam Altman — could undermine pseudonymity in the digital world.
A new report by the European Central Bank (ECB) reveals that digital payment methods continue to gain ground across the euro area, though cash remains a vital part of the consumer payment landscape — particularly for small-value transactions and person-to-person (P2P) payments.
Geopolitical conflict rattles markets, but history shows panic selling crypto in response is usually the wrong move.
Bitcoin-focused investment firm Strategy Inc. (formerly MicroStrategy) is facing mounting legal pressure as at least five law firms have filed class-action lawsuits over the company’s $6 billion in unrealized Bitcoin losses.