Bitcoin Miners Rally As October Inflows Surge

Blockhead10-29

Cryptocurrency prices and related stocks jumped Monday as bitcoin trended back toward $69,000. Bitcoin miners rallied on the move, fueled further after Jefferies initiated coverage of Core Scientific ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2479145843?lang=en_US&edition=fundamental","thumbnail":"https://www.investors.com/wp-content/uploads/2018/02/Stock-bitcoin-31-adobe-150x150.jpg","is_english":true,"pubTime":"2024-10-29 01:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2479145843","market":"hk","top_or_hot":-1,"title":"Bitcoin Miners Rally As October Inflows Surge","media":"Blockhead","content":"<div>\n<p>Cryptocurrency prices and related stocks jumped Monday as bitcoin trended back toward $69,000. Bitcoin miners rallied on the move, fueled further after Jefferies initiated coverage of Core Scientific ...</p>\n\n<a href=\"https://www.investors.com/news/bitcoin-price-bitcoin-miners-rally-ai-btc-inflows/\">Source Link</a>\n\n</div>\n","source":"investor_business_daily_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Miners Rally As October Inflows Surge</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin Miners Rally As October Inflows Surge\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-29 01:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/bitcoin-price-bitcoin-miners-rally-ai-btc-inflows/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cryptocurrency prices and related stocks jumped Monday as bitcoin trended back toward $69,000. Bitcoin miners rallied on the move, fueled further after Jefferies initiated coverage of Core Scientific ...</p>\n\n<a href=\"https://www.investors.com/news/bitcoin-price-bitcoin-miners-rally-ai-btc-inflows/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4116","symbol_name":"互联网服务与基础架构","start_time":0,"source_url":"https://www.investors.com/news/bitcoin-price-bitcoin-miners-rally-ai-btc-inflows/","article_id":"2479145843","we_media_id":null,"thumbnails":["https://www.investors.com/wp-content/uploads/2018/02/Stock-bitcoin-31-adobe-150x150.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479145843","pubTimestamp":1730136254,"sourceInfo":{"source_id":"investor_business_daily_highlight","name":"Investor’s Business Daily"},"weMediaInfo":null,"summary":"Bitcoin trends toward $69,000, cryptocurrency stocks jump. Analysts initiate coverage of miners transitioning to AI. BTC inflows hit record.","collect":0,"end_time":0,"defaultTopTitle":"investors.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"83042":"华夏比特币-R","BK4116":"互联网服务与基础架构","BK4588":"碎股","BK4550":"红杉资本持仓","09439":"嘉实比特币-U","IREN":"Iris Energy Ltd","GBTC":"Grayscale Bitcoin Trust","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4551":"寇图资本持仓","03042":"华夏比特币","FBTC":"Fidelity Wise Origin Bitcoin Fund","WULF":"TeraWulf Inc.","COIN":"Coinbase Global, Inc.","03439":"嘉实比特币","BK4112":"金融交易所和数据","BTBT":"Bit Digital, Inc.","09042":"华夏比特币-U","BK4539":"次新股","BK4023":"应用软件","BK4516":"特朗普概念","HUT":"Hut 8 Mining Corp","BK4554":"元宇宙及AR概念","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","09008":"博时比特币-U","FDN":"First Trust Dow Jones Internet I","LU1861558580.USD":"日兴方舟颠覆性创新基金B","03008":"博时比特币","CORZ":"Core Scientific, Inc.","BK4595":"比特币概念","ARKB":"ARK 21Shares Bitcoin ETF","BK4535":"淡马锡持仓"},"translate_title":"10月份资金流入激增，比特币矿商上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"83042":0.6,"03042":1,"BTBT":1,"CORZ":1,"FBTC":1,"ARKB":1,"GBTC":1,"03008":1,"09439":1,"09042":1,"09008":1,"03439":1,"XBTmain":0.81,"BTCmain":0.81,"FDN":0.81,"WULF":0.8,"IREN":0.7,"HUT":0.7,"COIN":0.7},"content_text":"Cryptocurrency prices and related stocks jumped Monday as bitcoin trended back toward $69,000. Bitcoin miners rallied on the move, fueled further after Jefferies initiated coverage of Core Scientific on its pivot to an artificial intelligence play. Meanwhile, digital asset inflows have surged in October.\n\n\n\n↑\nX\n\n\n\n\nCathie Wood's $3.8 Million Bitcoin Price Prediction Fueled By Crypto ETFs\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nCathie Wood's $3.8 Million Bitcoin Price Prediction Fueled By Crypto ETFs\n\n\n\n\nBitcoin Inflows Jump\nGlobal crypto funds registered $901 million in digital asset inflows last week, bringing the total for October to nearly $3.4 billion, CoinShares data shows. October is pacing as the fourth-largest month for crypto inflows on record and pushed the year-to-date inflows to $27 billion — almost tripling the 2021 record of $10.5 billion. CoinShares noted that bitcoin saw $920 million in inflows, with modest outflows from ethereum and solana. CoinShares believes that current bitcoin prices and flows are \"heavily influenced\" by U.S. politics.\nMeanwhile, spot bitcoin ETFs generated $997.6 million in inflows last week, driven by $402 million in inflows on Friday, according to Farside Investors data. The bitcoin ETFs have seen $22 billion in inflows since the Jan. 11 launch, dominated by BlackRock's iShares Bitcoin ETF (IBIT) with $23.99 billion. The Grayscale Bitcoin Trust (GBTC) has seen about $20 billion in outflows since mid-January.\nAnalyst Lauds Bitcoin Miners, AI Potential\nJefferies analyst Jonathan Petersen on Monday started coverage on Core Scientific (CORZ) with a buy rating, noting that the bitcoin miner is well-positioned to capture artificial intelligence demand. Core Scientific is transitioning to a high-performance computing data center hosting model in a bid to diversify its revenue streams. The company already signed a 12-year hosting contract with hyperscaler CoreWeave, and has since expanded that agreement. Jefferies expects Core Scientific to diversify its tenant base to other hyperscalers beyond CoreWeave. Management could make further announcements by the end of the year, according to Petersen.\n\"We expect that many big tech companies will be closely watching the CoreWeave developments and successful execution will convince decision makers to sign future development leases with CORZ,\" Petersen wrote. Jefferies has a 19 price target on CORZ stock.\n\nBitcoin Miners Forge Lucrative AI Deals. They Have A Big Advantage.\n\nElsewhere, B. Riley Thursday morning initiated coverage of bitcoin miner Bit Digital (BTBT) with a buy rating and a 6 price target, The Fly reported. Bit Digital has undergone a major transformation over the past year amid the expansion of its GPU business and its recent acquisition of Enovum Data Centers, the firm wrote. Bit Digital on Oct. 11 acquired Enovum for $46 million, which added a fully-operational and fully-leased Tier 3 data center to its portfolio. Tier 3 data centers have multiple system redundancies to prevent shutdowns during maintenance. Artificial intelligence workloads often run on Tier 3 data centers or higher.\nRiley said the transition to a high-performance computing-centric company should provide a valuation more aligned with traditional data center companies. The firm said that the current valuation for BTBT shares does not fully-reflect the path toward more stable revenue, and the stock has \"meaningful runway as management executes its growth plans.\"\nBitcoin Price, Crypto Stock Action\nBitcoin traded around $68,700 Monday, climbing more than 2% over the previous 24 hours. BTC is trending back near its mid-July high of $69,351 and up about 27% from a Sept. 6 low.\nStill, bitcoin remains well below its March 14 record high of $73,798. The world's largest cryptocurrency is up about 63% so far this year.\nCORZ stock jumped nearly 6% Monday, extending further from a buy zone after a mid-September breakout.\nBit Digital stock leapt 7% Monday, nearing a 4.37 buy point for a consolidation.\nIris Energy (IREN) rallied more than 17% Monday, while Hut 8 (HUT) and TeraWulf (WULF) shot up 15.4% and 13.5%, respectively.\nThe iShares Bitcoin Trust ETF rose 3.2% Monday and is consolidating with a 41.99 buy point. Fellow bitcoin ETFs, Fidelity Wise Origin BTC (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) are also trending toward entries from their own consolidations.\nCoinbase (COIN) jumped 4.4% Monday and bounced off its 200-day line. The crypto exchange releases its Q3 results late Wednesday. FactSet expects earnings of 46 cents per share adjusted, improving from a loss of 1 cent last year. Analysts see revenue spiking nearly 87% to $1.26 billion.\nCOIN stock rallied more than 23% so far this year.\nYou can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison\nYOU MAY ALSO LIKE:\nKeep Up With Cryptocurrency Prices and News\nLooking For The Next Big Stock Market Winners? Start With These 3 Steps\nJoin IBD Live And Learn Top Chart Reading And Trading Techniques From Pros\nLearn How To Time The Market With IBD's ETF Market Strategy","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479145843"}