Are Pure Play Bitcoin Miners Going to Reprice Like AI/HPC Miners?

Group 1 - Pure-play bitcoin mining stocks, such as MARA Holdings and CleanSpark, have seen significant gains, with MARA up 10% and CleanSpark up 17% [1] - The price of bitcoin is approaching $118,000, driven by expectations of a strong year-end, with a 2.2% increase on Thursday and only 5% below its all-time high [2] - Companies like MARA and CleanSpark, holding substantial amounts of bitcoin, are viewed as leveraged plays on the potential rally of bitcoin, with MARA holding 52,477 BTC valued at $6.2 billion and CleanSpark holding 12,703 BTC valued at $1.5 billion [3] Group 2 - There is a rotation of investor profits from high-performance computing and artificial intelligence stocks, which have seen significant gains recently, with Bitfarms up 150% in September and Iren Energy gaining over 600% since April [4] - Despite the overall rotation, some stocks like CIFR and IREN experienced declines of 7% and 4% respectively on Thursday, indicating a shift in investor sentiment [4]