Microsoft canceled investments in data centers in the United States and Europe due to concerns about oversupply of AI computing power, causing the stock prices of several cryptocurrency mining companies to drop by 4%-12% on the same day, including Bitfarms, CleanSpark, Marathon, and others. Analysts believe that this move exacerbates the dependence of mining companies on AI business, and the decrease in profits after the halving of Bitcoin has already put pressure on the industry. Microsoft plans to shift towards upgrading existing center equipment, with further expansion expected to slow down in the second half of 2025.