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Bitcoin mining breathes new life into chip stocks

Some investors skeptical of cryptocurrency's impact on the sector

Bitcoin mining computers at China-based Bitmain's "farm" near Keflavik, Iceland.   © Reuters

TOKYO -- The growth of cryptocurrency mining has brightened the prospects for the chip industry, lifting sector shares, but the volatile nature of digital currencies is keeping some investors on the sidelines.

Chips are susceptible to wild price swings. Now the increasing demand for their use in machines for mining -- the work of verifying digital currency transactions for rewards of bitcoin and other cryptocurrencies -- has made it even trickier to predict the outlook for chip prices.

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