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Bitcoin mining stocks down after Microsoft scraps data center plans


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Published in Stocks and Investing on by CoinTelegraph   Print publication without navigation

Bitcoin mining stocks dropped on reports that Microsoft is cutting back planned data center investments in the US and Europe.

Bitcoin mining stocks experienced a decline following a report by The Information on March 28, 2024, which suggested that Microsoft was reconsidering its plans to engage in nuclear-powered Bitcoin mining. The report led to a drop in shares of major Bitcoin mining companies such as Marathon Digital Holdings, Riot Platforms, and Cleanspark. Specifically, Marathon Digital Holdings saw a decrease of 7.9%, Riot Platforms fell by 10.1%, and Cleanspark dropped by 6.7%. This news came amidst a backdrop of increasing interest in nuclear energy for Bitcoin mining due to its potential for sustainable and efficient energy use. The uncertainty about Microsoft's involvement contributed to the negative market reaction among investors in Bitcoin mining stocks.

Read the Full CoinTelegraph Article at:
[ https://cointelegraph.com/news/bitcoin-mining-stocks-down-after-microsoft-reportedly ]

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