Bitcoin mining profit plummets to $300 per BTC as costs surge past $70k as Wall St funds miners’ AI escape hatch

Wall Street is pouring billions into public Bitcoin mining companies, but the investment thesis has little to do with the emerging industry's future. Instead, the financial institutions are treating these crypto firms as critical power-and-permitting infrastructure, a scarce asset in an artificial intelligence boom that is increasingly constrained not by a lack of advanced semiconductors, The post Bitcoin mining profit plummets to $300 per BTC as costs surge past $70k as Wall St funds miners’ AI escape hatch appeared first on CryptoSlate.