Bitcoin miners that pivoted to AI just got hit harder than Bitcoin itself.
Thursday's moves (Tech Times, crypto.news):
• Bitdeer and Keel Infrastructure: about -20% each
• American Bitcoin: -17%, even after a $126M quarterly profit
• IREN: -17% as mining revenue dropped 58%
$BTC slipped below $76K at the same time. The "AI hosting" story gave miners a second narrative, but in a Nasdaq rout they now trade like high-beta tech, with Bitcoin's volatility on top.
Watch whether hash-rate holders keep selling or miners start to lean back on BTC treasuries.
Do miners deserve a tech multiple or a commodity one now?
Not financial advice.
#Bitcoin #BTC #BitcoinMining #Nasdaq
Thursday's moves (Tech Times, crypto.news):
• Bitdeer and Keel Infrastructure: about -20% each
• American Bitcoin: -17%, even after a $126M quarterly profit
• IREN: -17% as mining revenue dropped 58%
$BTC slipped below $76K at the same time. The "AI hosting" story gave miners a second narrative, but in a Nasdaq rout they now trade like high-beta tech, with Bitcoin's volatility on top.
Watch whether hash-rate holders keep selling or miners start to lean back on BTC treasuries.
Do miners deserve a tech multiple or a commodity one now?
Not financial advice.
#Bitcoin #BTC #BitcoinMining #Nasdaq