比特币矿企正在迎来双重利好，其股价因加密货币价格上涨和向人工智能（AI）基础设施的战略转型 而飙升，这不仅提振了短期市场情绪，更可能从根本上重塑其长期投资价值。 目前，许多比特币矿企的估值逻辑仍主要基于其挖矿业务，但市场可能低估了其作为"电力资产"的内在 价值。摩根士丹利强调，"企业价值/瓦特"（EV/Watt）是评估此类公司价值的一个关键但被市场忽视的 指标。 数据显示，美国比特币矿企拥有约6.3吉瓦已投入运营的大型站点，另有2.5吉瓦在建产能。报告指出， 许多矿企当前的"企业价值/瓦特"远低于其作为数据中心基础设施的潜在价值，这为投资者提供了一个 显著的价值错配和潜在的Alpha机会。 受比特币价格近期高点以及业务多元化消息的提振，多家比特币矿企股票在周二盘前交易中大幅上涨。 其中，Bitfarms和Iren领涨，涨幅分别达到11.85%和11.60%；Hive Digital Technologies上涨6.82%， TeraWulf上涨3.68%，CleanSpark和BitFuFu也录得不同程度的涨幅。 这一轮上涨的直接驱动力显而易见。一方面，比特币价格的走强直接提升了矿企挖矿业务的盈利能力和 资产 ...

Core Viewpoint - The recent surge in Bitcoin prices has significantly increased the value of mining tokens, leading to notable pre-market gains for companies like Iren, Bitfarms, and Hive Digital Technologies [1] Group 1: Company Performance - Iren and Bitfarms saw pre-market gains exceeding 11% [1] - Hive Digital Technologies experienced a nearly 7% increase [1] - TeraWulf's pre-market rise was over 3% [1] - Other companies such as CleanSpark and BitFuFu also followed the upward trend [1] Group 2: Market Dynamics - The increase in Bitcoin prices is attributed to its recent all-time high, which has positively impacted the mining token market [1] - Mining companies are diversifying into the artificial intelligence data center sector [1]

Group 1 - IREN and Riot Platforms saw a nearly 12% increase in their stock prices [1] - Cipher Mining and Bitfarms experienced over a 7% rise [1] - CleanSpark and Bit Digital both rose by over 6% [1]

每经AI快讯，9月24日，美股加密货币概念股集体飙升，IREN、Riot Platforms大涨近12%，Cipher Mining、Bitfarms涨超7%，CleanSpark、Bit Digital涨超6%。 ...

加密货币概念股走高，Bitfarms涨超14%，Bullish涨超12%，CleanSpark涨超11%，Circle涨超6%， Strategy、Coinbase涨超5%。消息面上，美联储如期降息25个基点后，比特币涨超1%，突破11.78万美 元/枚。(格隆汇) ...

Group 1 - D-Wave Quantum stock (NYSE: QBTS) has surged by 2,200% over the past year, driven by excitement for quantum computing, the AI surge, and strategic initiatives like partnerships and conferences [2][3] - The company recently announced its first Qubits Japan 2025 quantum computing user conference in Tokyo, with an 83% increase in reservations for its technology in the Asia Pacific region [3] - D-Wave operates on a modest revenue base of $22 million, with a net income margin of -1,260% and an operating cash flow margin of -220%, indicating significant cash burn [3][9] Group 2 - Historical context shows that D-Wave's stock fell 97% from $12 to $0.40 during the 2022 market crash, highlighting the volatility of speculative stocks [5][6] - The current downside risk for QBTS stock is suggested to be below $1, reflecting the company's ongoing cash burn and reliance on future expectations rather than solid fundamentals [6][8] - Key risks include a gap between commercial reality and research applications, intensifying competition from tech giants, and potential dilution of existing shareholders due to cash burn [9]

Industry Overview - Bitcoin miners are increasingly integrating with High-Performance Computing (HPC), indicating a shift in operational focus that is expected to strengthen over time [1] - The Bitcoin mining network has achieved a significant milestone, reaching one zettahash of computing power, which equates to one sextillion computations per second [6] Market Performance - Cipher Mining's stock rose by 39% to $10.32, while Bitfarms saw a 62% increase, nearing $2 per share after CEO Ben Gagnon announced stock purchases [1] - IREN also performed well, surpassing $30 per share [1] Bitcoin Difficulty Adjustments - Recent Bitcoin difficulty adjustments show a significant upward trend, with a 7.96% increase in July followed by a 4.89% adjustment, and expectations of an additional 8% increase [2][4] - The current hash price is estimated to be between $53 to $56 per petahash per day [3] Legal and Regulatory Developments - Tether is involved in a legal dispute with Swan Bitcoin, claiming exclusive ownership over intellectual property developed in their joint venture [8][9] - A GOP lawmaker has urged a Treasury investigation into Bitmain's operations, citing potential risks to U.S. energy grid security [13][14] Company-Specific Developments - Canaan has reported strong performance, mining 1,400 Bitcoin in Q2 and shifting its operations to the U.S. [16] - Ocean Pool is facing controversy over executive compensation, with unconfirmed reports suggesting a salary of $750,000 for its CEO, which is considered high for the industry [17][18]

Core Viewpoint - Bitfarms stock price has experienced a significant increase, reaching a high of $2.90, marking its highest level since July of the previous year and a 350% rise from its lowest point this year [1] Company Summary - The stock price surge indicates strong market interest and potential investor confidence in Bitfarms, reflecting a broader trend in the cryptocurrency mining sector [1]

Market Performance - Galaxy, Circle, and Bitfarms are leading crypto stock gains [1] - Bitcoin vehicles Metaplanet and Nakamoto are plunging [1]

每经AI快讯，多数加密货币概念股强势冲高，Bitfarms涨近14%，Circle涨超11%，BMNR涨超7%， SBET涨近4%。 ...