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Miners like Applied Digital (APLD), Iris Energy (IREN), Hut 8 (HUT) and Hive (HIVE) have already started to revitalize their data centers to accommodate AI and other computing services as mining has become less profitable during the prolonged bear market. As investors have also been rewarding the shares of some publicly traded miners for pivoting into AI, depending on how the guidance from Nvidia goes, the prices of these mining stocks could also be affected.
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