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Microsoft Ditches New AI Data Centers, Bitcoin Mining Stocks Tumble

In a shocking move, Microsoft has announced that it is abandoning its plans to build new data centers dedicated to artificial intelligence (AI) research. The decision comes as a major blow to the cryptocurrency market, with bitcoin mining stocks taking a significant hit as a result.

According to reports, Microsoft had been planning to build a new data center in Arizona, specifically designed to house its AI research efforts. However, the company has now decided to scrap those plans, citing a lack of demand for the technology.

The news sent shockwaves through the financial markets, with bitcoin mining stocks plummeting in value. Companies such as Riot Blockchain and Marathon Patent Group saw their stock prices fall by as much as 10% in the wake of the announcement.

The decision is seen as a major setback for the cryptocurrency market, which had been counting on Microsoft's AI research efforts to drive innovation and growth. The company's decision to abandon its AI data center plans is a stark reminder of the challenges facing the industry, and the need for more investment and innovation.

In a statement, Microsoft said that it would instead focus on developing its AI technology in-house, rather than building new data centers. The company said that it would continue to invest in AI research and development, but would do so in a more cost-effective and efficient manner.

The news has sent a chill through the cryptocurrency market, with many investors questioning the future of the industry. The decision by Microsoft to abandon its AI data center plans is a major blow, and could have significant implications for the industry as a whole.