How Analysts Are Rating Bitcoin Miners’ Pivot to AI and Chip Manufacturing – Decrypt

Casual observers of Bitcoin miners’ Q4 earnings could be forgiven thinking it’s been nothing but smooth sailing for the industry.

But there’s no ignoring the fact that publicly traded Bitcoin miners lost $23 billion off their collective market capitalization in the past month, according to a recent JP Morgan report.

It’s not all that surprising given the price of Bitcoin began February above $102,000 and then sank as low as $78,000 while markets were tormented by President Donald…