HIVE, Bitfarms, Bitdeer Stock Downgrade: Analyst Warns Bitcoin Miners Face AI Competition

A leading financial analyst has downgraded the stocks of major Bitcoin mining companies HIVE Digital Technologies (HIVE), Bitfarms (BITF), and Bitdeer (BTDR). The primary reason cited is a strategic shift in the high-performance computing sector, where data centers are increasingly prioritizing lucrative artificial intelligence (AI) workloads over traditional cryptocurrency mining. This reallocation of resources and capital poses a significant long-term challenge for publicly traded Bitcoin miners. The analyst's report highlights that as the demand for AI computing power soars, the infrastructure and energy initially dedicated to mining Bitcoin (BTC) are being repurposed. This trend could pressure miners' profitability and growth prospects, making them less attractive to investors compared to pure-play AI infrastructure firms. The downgrade reflects concerns over the evolving competitive landscape for power and hardware.