Bitcoin mining stocks are on the rise as takeover rumors sweep through the cryptocurrency sector. Stronghold and TeraWulf saw shares increase by more than 15% on June 6, while Iris Energy, Mawson, and Cathedra each gained 10%. Riot Platforms made a hostile bid for Bitfarms, and CoreWeave proposed buying CoreScientific. Analysts predict more mergers and acquisitions in the industry following the Bitcoin halving event in April. JPMorgan Chase suggests that A.I. and cloud computing companies may target Bitcoin miners for diversification. The price of Bitcoin has increased by 62% this year, currently trading at $71,500 U.S.
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