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Bitcoin mining stocks down after Microsoft scraps data center plans

cryptoweekly by cryptoweekly
March 26, 2025
in bitcoin, News
0

Microsoft has reportedly cut plans to invest in data centers in the US and Europe, driving cryptocurrency miner stocks to tumble on March 26.

Bitcoin (BTC) mining stocks are down after tech giant Microsoft reportedly scrapped plans to invest in new artificial intelligence data centers in the US and Europe, citing a potential oversupply, according to a report by Bloomberg and data from Google Finance.

Shares of crypto miners Bitfarms, CleanSpark, Core Scientific, Hut 8, Marathon Digital and Riot dropped between 4% and 12% in tandem with the news, the data showed.

The stock price retrenchments highlight cryptocurrency miners’ increased dependence on business from artificial intelligence models after the Bitcoin network’s April 2024 “halving” cut into mining revenues.

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  • Dubai real estate sales hit $18B in May amid tokenization push
  • Tether CEO snubs IPO, says $515B valuation is 'a bit bearish’
  • Bitcoin core devs' joint statement sparks heated debate among Bitcoiners
  • SEC Ripple case could show why crypto needs clearer rules
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