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Bitcoin Miners' Pivot To AI Has Lifted Bitcoin-Mining ETF By About 90% This Year

An anonymous reader quotes a report from the Wall Street Journal: It's harder than ever to mine bitcoin. And less profitable, too. But mining-company stocks are still flying, even with cryptocurrency prices in retreat. That's because these firms have something in common with the hottest investment theme on the planet: the massive, electricity-hungry data centers expected to power the artificial-intelligence boom. Some companies are figuring out how to remake themselves as vital suppliers to Alphabet, Amazon, Meta, Microsoft and other "hyperscalers" bent on AI dominance. Bitcoin-mining -- using vast computer power to solve equations to unlock the digital currency -- has been a lucrative and cutting-edge pursuit in its own right. Lately, however, increased competition and other challenges have eroded profit margins. But just as the bitcoin-mining business began to cool, the AI build-out turned white hot. The AI arms race has created an insatiable demand for some assets the miners already have: data centers, cooling systems, land and hard-to-obtain contracts for electrical power -- all of which can be repurposed to train and power AI models. It's not a seamless process. Miners often have to build new, specialized facilities, because running AI requires more-advanced cooling and network systems, as well as replacing bitcoin-mining computers with AI-focused graphics processing units. But signing deals with miners allows AI giants to expand faster and cheaper than starting new facilities from scratch. These companies still mine some bitcoin, but the transition gives miners a new source of deep-pocketed customers willing to commit to longer-term leases for their data centers. "The opportunity for miners to convert to AI is one of the greatest opportunities I could possibly imagine," said Adam Sullivan, chief executive of Core Scientific, which has pivoted to AI data centers. The shift has boosted miners' stocks. The CoinShares Bitcoin Mining ETF has surged about 90% this year, a rally that has accelerated even as bitcoin erased its gains for 2025. The ETF holds shares of miners including Cipher Mining and IREN, both of which have surged following long-term deals with companies such as Amazon and Microsoft. Shares of Core Scientific quadrupled in 2024 after the company signed its first AI contract that February. The stock has gained 10% this year. The company now expects to exit bitcoin mining entirely by 2028.

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Fake Video Claiming 'Coup In France' Goes Viral

alternative_right shares a report from Euronews: France's President Emmanuel Macron discovered news of his own supposed overthrow, after he received a message of concern, along with a link to a Facebook video. "On Sunday (14 December) one of my African counterparts got in touch, writing 'Dear president, what's happening to you? I'm very worried,'" Macron told readers of French local newspaper La Provence on December 16. Alongside the message, a compelling video showcasing a swirling helicopter, military personnel, crowds and -- what appears to be -- a news anchor delivering a piece to camera. "Unofficial reports suggest that there has been a coup in France, led by a colonel whose identity has not been revealed, along with the possible fall of Emmanuel Macron. However, the authorities have not issued a clear statement," she says. Except, nothing about this video is authentic: it was created with AI. After discovering the video, Macron asked Pharos -- France's official portal for signaling online illicit content -- to call Facebook's parent company Meta, to get the fake video removed. But that request was turned down, as the platform claimed it did not violate its "rules of use." [...] The original video ... racked up more than 12 million views [...].The teenager running the account is based in Burkina Faso and makes money running courses focusing on how to monetize AI. He eventually took the video down more than a week after its initial publication, due to political -- and public -- controversy. "I tend to think that I have more power to apply pressure than other people," Macron said. "Or rather, that it's easier to say something is serious if I am the one calling, but it doesn't work." "These people are mocking us," he added. "They don't care about the serenity of public debates, they don't care about democracy, and therefore they are putting us in danger."

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