According to ChainCatcher news, as reported by CoinDesk, Bitcoin mining companies are at a critical crossroads: they can choose to pivot towards artificial intelligence (AI) and high-performance computing (HPC) to boost their stock prices, or they can stick to their core Bitcoin mining business and expand their market share while facing sluggish stock prices.In September, the largest market cap mining companies, MARA Holdings (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK), all increased their share of the total Bitcoin mined. These companies have stronger balance sheets and larger mining operations, which help them cope with the decline in profitability following the Bitcoin halving in April. However, investors have not rewarded these companies' stocks with a premium, and their performance remained lackluster in September.In contrast, mining companies focusing on AI and HPC, such as Core Scientific (CORZ), TerraWulf (WULF), and IREN (IREN), have seen their stock prices outperform Bitcoin. The halving in April reduced Bitcoin mining rewards by 50%, intensifying competition in mining and narrowing profit margins.Additionally, the recently approved spot Bitcoin ETF in the U.S. has also diminished investors' interest in mining stocks. Instead, investors are rewarding those mining companies that utilize part of their data centers to host AI and HPC-related machines for revenue diversification.AI and HPC computing require a significant amount of electricity, and Bitcoin miners have already secured these resources, making them ideal candidates for rapidly expanding AI and HPC companies. In September, the stock prices of large-cap mining companies rose by 4% to 9%, while those associated with AI and HPC saw price increases of up to 25%.

ChainCatcher live report, at the Solana 2024 Breakpoint conference, the CEO of the Philippine cryptocurrency exchange Coins.ph, Wei Zhou, announced the launch of the Philippine peso stablecoin PHPC on Solana.PHPC will go live on Solana in the next quarter and will introduce PHPC/USDT and PHPC/USDC liquidity pools to Solana.It is reported that Coins.ph is a leading crypto application in Southeast Asia, with over 16 million users, offering authorized fiat and cryptocurrency wallet and trading services, including cryptocurrency, e-wallets, and payments. The company is regulated by the Bangko Sentral ng Pilipinas (BSP) and holds a virtual currency and electronic money issuer license issued by the central bank.

ChainCatcher news, according to Cointelegraph, VanEck recently stated in a report: "AI companies need energy, and Bitcoin miners have energy." The company believes that Bitcoin mining companies face profitability risks from fluctuations in operating costs and Bitcoin prices, and they may find it a good strategic choice to shift some energy capacity to the growing fields of artificial intelligence (AI) and high-performance computing (HPC).VanEck stated: "The balance sheets of Bitcoin mining companies are usually poor, either due to excessive debt, too many shares issued, excessively high executive compensation, or a combination of all three."VanEck estimates that if publicly listed Bitcoin mining companies shift 20% of their energy capacity to AI and high-performance computing by 2027, "the total additional profit per year will average over $13.9 billion over 13 years."Meanwhile, VanEck pointed out that the benefit for Bitcoin mining companies to sign such contracts is that these AI companies are usually willing to provide the financial resources needed for capital expenditures.

ChainCatcher news, according to CoinDesk, brokerage firm HC Wainwright revealed that Bitcoin mining company Hut 8 is actively negotiating with potential clients for large HPC and AI projects.Additionally, the firm upgraded the rating of Bitcoin mining company Hut 8 by two levels, from sell to buy, while also significantly raising its target price from $7.5 to $13.5.There are reports that Hut 8 may benefit from the growing demand for energy and infrastructure from AI companies, and the likelihood of signing high-performance computing (HPC) or AI clients has also increased after Coatue invested $150 million in June.

ChainCatcher message, the stablecoin PHPC officially supported by the Central Bank of the Philippines is now live on the Ronin Network, with technical support provided by the Philippine crypto exchange Coins.ph.

ChainCatcher news, the Central Bank of the Philippines has approved a stablecoin called PHPC, which is pegged to the Philippine peso. This move aims to facilitate cost-effective remittances, supported by cash and cash equivalents from Philippine banks, and will initially be launched on the Coins.ph platform, with plans to expand to other platforms.It is understood that PHPC will be the first retail-focused stablecoin backed by the peso, offering real-time trading around the clock.