After the Democrats won Congress, Reuters reported that U.S. stocks rose while data center-related stocks fell. CoinDesk later reported that sellers had begun lowering price targets for Bitcoin miners, citing Texas turning blue and the possibility that AI data center projects could be delayed.
These two developments are actually part of the same story. Some of the miners’ valuations are based on converting power capacity into AI data centers, with mining revenue serving more like a core holding. With the political winds shifting in Texas, these projects face an additional layer of uncertainty around approvals and grid connections, so price targets are being discounted first.
What’s being discounted is policy uncertainty, not $BTC itself. The implications of the Democrats taking Congress for crypto legislation and the project risks facing data centers in Texas were originally two separate matters, but sellers are now treating them as one. Next, let’s look at which companies are named in sellers’ reports and by how much their targets have been lowered.
#比特币矿企 #美国中期选举 #AI data centers
These two developments are actually part of the same story. Some of the miners’ valuations are based on converting power capacity into AI data centers, with mining revenue serving more like a core holding. With the political winds shifting in Texas, these projects face an additional layer of uncertainty around approvals and grid connections, so price targets are being discounted first.
What’s being discounted is policy uncertainty, not $BTC itself. The implications of the Democrats taking Congress for crypto legislation and the project risks facing data centers in Texas were originally two separate matters, but sellers are now treating them as one. Next, let’s look at which companies are named in sellers’ reports and by how much their targets have been lowered.
#比特币矿企 #美国中期选举 #AI data centers