Publicly traded Bitcoin miner Cango (CANG) parted ways with 4,451 BTC this weekend, raising approximately $305 million as it aims to fuel its expansion into providing compute power for the artificial intelligence (AI) boom. The firm used all of the proceeds to repay a portion of a Bitcoin-collateralized loan.  “The company is executing a strategic pivot by utilizing its globally accessed, grid-connected infrastructure to provide distributed compute capacity for the AI industry,” Cango said in a statement.  ...

（文章来源：每日经济新闻） 每经AI快讯，2月5日，美股加密货币概念股盘前走低，Coinbase下跌1.5%，Bitfarms下跌2.5%，Strategy 下跌2.6%。 ...

Core Viewpoint - Symbotic Inc. is set to report quarterly earnings on February 4, 2026, with expectations of significant growth in earnings and revenue compared to the previous year [1][5] Financial Performance - Analysts predict earnings per share to increase by 366.7% to $0.08 [1][5] - Revenue is projected to rise by 27.9% to approximately $622.6 million [1][5] - The company anticipates revenues between $610 million and $630 million, supported by a substantial backlog valued at $22.5 billion [2] Stock Performance - Symbotic's stock has surged by 101% over the past year, outperforming the Zacks Technology Services industry and competitors like Bitfarms [3][5] - Despite the annual surge, the stock has declined over 33% in the past three months due to concerns over high costs and valuation issues [2][3] Financial Ratios - The price-to-sales ratio stands at 14.55, indicating investors are willing to pay $14.55 for every dollar of sales [4] - The debt-to-equity ratio is low at 0.14, suggesting conservative use of debt [4] - The current ratio of 1.08 indicates modest liquidity [4] Risks - The company's heavy reliance on Walmart poses a potential risk to future performance if the partnership encounters challenges [3]

Core Viewpoint - The recent significant decline in cryptocurrency prices, particularly Bitcoin and Ethereum, raises questions about the narrative of Bitcoin as "digital gold" and highlights the increasing risks associated with high leverage and lack of regulation in the crypto market [2][3][4]. Market Performance - Bitcoin's price dropped to a low of $81,000, with a maximum decline of over 7% within 24 hours, while Ethereum fell from $2,970 to $2,670, marking a 10% drop [2][3]. - The total liquidation amount in the past 24 hours exceeded $1.7 billion, affecting over 270,000 traders globally [4]. Influencing Factors - The decline in cryptocurrency prices is attributed to tightening liquidity, increasing regulatory scrutiny, institutional exits, and panic among investors [3][4]. - Geopolitical uncertainties, particularly statements from Iranian officials regarding U.S. actions, have contributed to market volatility [4]. Investment Trends - Major investors are reallocating their portfolios, with Jefferies' Christopher Wood removing Bitcoin from his long-term investment strategy, reallocating half to physical gold and the other half to gold mining stocks [5]. - Bitcoin ETFs have seen significant net outflows, exceeding $2 billion, while traditional stock ETFs are experiencing record inflows [6]. Mining and Network Performance - Bitcoin's network has seen a decline in hash rate, dropping over 15% from its historical peak, leading to many miners facing shutdown conditions due to high operational costs [6]. - The average daily block reward income for Bitcoin miners is projected to reach a historical low of $38,700 per EH/s by December 2025 [6]. Comparison with Gold - The price of gold has reached historical highs, contrasting sharply with Bitcoin's performance, which has retreated approximately 33% from its previous highs [7]. - The divergence in performance between Bitcoin and gold reflects their differing roles as assets, with gold serving as a stable reserve asset and Bitcoin being more speculative and influenced by market sentiment [8].

Market Overview - The global financial markets experienced significant volatility, with gold and silver prices dropping sharply after reaching historical highs, with maximum intraday declines of over 5% and 8% respectively [1][9][10] - The U.S. stock market also faced turbulence, with the Nasdaq index plunging 2.6% at one point before closing down 0.72% [2][11] Cryptocurrency Market - The cryptocurrency market saw a major sell-off, with Bitcoin dropping over 5% to below $85,000, while Ethereum and other altcoins experienced declines exceeding 6% [3][6] - Cryptocurrency-related stocks also suffered, with Strategy stock falling over 9% and Coinbase Global down more than 4% [5] Gold and Silver Market - Gold prices experienced a sharp decline, falling from a peak of $5,600 per ounce to $5,105.83, marking a maximum drop of 5.7% before rebounding [9] - Silver prices also fell from a historical high of $121.67 per ounce to $106.80, with a maximum intraday decline of 8.5% [9] Investor Sentiment - There is a growing skepticism regarding Bitcoin's status as a macro hedge, as it has underperformed compared to gold and silver despite rising geopolitical tensions [6][7] - Recent data indicates that Bitcoin holders have entered a loss realization phase for the first time in 2023, suggesting a decline in investor confidence [6] Corporate Earnings Impact - Microsoft shares plummeted nearly 12% during trading after reporting a slowdown in cloud business growth, impacting the software sector significantly [11][12] - Other tech stocks reacted variably, with Meta seeing a 10.4% increase after announcing substantial capital expenditure plans, while other companies like ServiceNow and SAP faced declines [12][13]

RIOT平台公司股价下跌5.8%，比特数字公司股价下跌2.5%，MARA控股公司股价下跌5.4%。 Coinbase Global股价下跌4.7%，Bitfarms股价下跌5.3%，Strategy股价下跌6.4%。ProShares比特币策略ETF下跌 4.2%，安硕比特币 信托下跌4.2%。 ...

Core Viewpoint - Bitcoin has fallen below $91,000, experiencing a daily decline of over 2% [1] Group 1: Cryptocurrency Market Impact - Cryptocurrency-related stocks have collectively declined, with Bit Origin dropping nearly 33% and hitting a trading halt [1] - MARA Holdings and Bitfarms both fell by over 9% [1] - Strategy saw a decline of over 8%, while Bit Digital and Riot Platforms dropped nearly 7% [1] - Canaan Creative (嘉楠科技) experienced a decline of over 6% [1] - TeraWulf and Circle both fell by over 4% [1]

Core Viewpoint - Bitcoin has reached a new high not seen in over three weeks, leading to a rise in cryptocurrency-related stocks in pre-market trading [1] Company Performance - Coinbase shares increased by 3.8% [1] - Bitfarms shares rose by 4.2% [1] - Strategy shares saw a 3.7% increase [1]

Group 1 - CleanSpark, Inc. (NASDAQ:CLSK) experienced a significant rebound, rising 14.13% to close at $11.55, following a six-day losing streak, driven by higher Bitcoin prices and portfolio repositioning ahead of its upcoming mining report [1][2] - The company is set to announce its December and full-year Bitcoin mining results on January 5, with November figures showing it mined 587 Bitcoins, increasing its total holdings to 13,054 Bitcoins [3] - CleanSpark sold 565.41 Bitcoins at an average price of $91,979, generating total earnings of $52 million [3] Group 2 - CleanSpark is transitioning from a Bitcoin mining firm to AI servicing through high-performance computing (HPC), indicating a strategic shift in its business model [4] - While CleanSpark shows potential as an investment, there is a belief that other AI stocks may offer higher returns with limited downside risk [4]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - There is a divergence in the outlook for the cryptocurrency market in 2026 among leading global crypto institutions, primarily concerning the existence of Bitcoin's four-year market cycle and the uncertainty of the U.S. interest rate cuts [1][11] - The transition of crypto mining companies to AI data centers is seen as a positive trend, with companies expected to benefit from the growing demand for AI computing power [3][38] - The U.S. is expected to see significant developments in asset tokenization and prediction markets, which may drive the next wave of crypto market growth [4][46] Summary by Sections 1. Observing the Fed's Rate Cut Rhythm - The total market capitalization of cryptocurrencies fell by 8.6% in 2025, with Bitcoin's price declining by 6.1%, marking the first year to break a three-year growth streak [2][12] - The price of Bitcoin is correlated with global M2 growth rates, which are currently weaker than in previous cycles, suggesting that the performance of the industry in 2026 will depend on the pace and scale of monetary easing by major economies [2][16] 2. U.S. Crypto Mining Transitioning to AI Data Centers - The cost of Bitcoin mining has risen significantly, with the average cost including depreciation reaching $111,557 per BTC, exceeding the current Bitcoin price [3][39] - The U.S. energy department anticipates a need for an additional 100GW of peak power supply by 2030, with a significant portion allocated for data centers, making the transition of mining companies to AI services a natural choice [3][38] 3. U.S. Rapidly Advancing Asset and Prediction Market Tokenization - The Nasdaq has applied to the SEC to launch tokenized stocks, with expectations for tokenized stocks to trade alongside traditional stocks by the third quarter of 2026 [4][46] - The monthly betting amounts on platforms like Polymarket and Kalshi have surged from under $100 million in early 2024 to over $13 billion by November 2025, indicating explosive growth in demand for event contracts [4][48] 4. Investment Recommendations - The report suggests focusing on companies with substantial self-owned power capacity, low debt ratios, and low market value per watt of power, as well as those collaborating with major firms like Google and Amazon [5][43] - It also recommends prioritizing investments in leading cryptocurrency companies during this cyclical opportunity [5]