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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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  • Crypto 'control' takes center stage at Roman Storm trial
  • Asymmetric shifts funds strategy after investor posts losses on X
  • Ether emerges as winner after crypto’s ‘watershed moment’: Bitwise
  • Traditional companies enter the crypto treasury game with BTC, XRP and SOL buys
  • SOL price drop to $180 would be 'golden' entry before rally to new highs
  • Block joins S&P 500, bringing more Bitcoin exposure to equity index
  • Fate of crypto, CBDC bills unclear as US Congress heads into recess

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