Cipher Mining (CIFR) tumbled 9% and TeraWulf (WULF) sank 7% as the 10-year yield hit 4.7%, squeezing valuations on multi-year AI data center projects.
HIVE Digital erased Monday's gains, falling 7% despite a fresh $350 million GPU cloud deal, while WGMI's 6% decline confirms the selloff is sector-wide.
Act now: the ****** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Cipher Mining didn't make the cut. Grab the names FREE today.
Shares of Bitcoin (CRYPTO:BTC) miners pivoting to AI infrastructure are moving lower together Tuesday morning, with Cipher Mining (NASDAQ:CIFR) stock down 9% to $16.77 and TeraWulf (NASDAQ:WULF) shares down 7% to $16.45. Rising Treasury yields sit at the center of the move.
The 10-year yield is trading near the upper end of its 52-week range, pressuring long-duration cash flow valuations across a group financing multi-year data center construction against contracted revenue arriving later. HIVE Digital Technologies (NASDAQ:HIVE) shares are down 7% to $2.87, giving back most of Monday's surge. MARA Holdings stock is down 5% to $9.24, and Riot Platforms shares are down 4% to $19.23.
#down
HIVE Digital erased Monday's gains, falling 7% despite a fresh $350 million GPU cloud deal, while WGMI's 6% decline confirms the selloff is sector-wide.
Act now: the ****** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Cipher Mining didn't make the cut. Grab the names FREE today.
Shares of Bitcoin (CRYPTO:BTC) miners pivoting to AI infrastructure are moving lower together Tuesday morning, with Cipher Mining (NASDAQ:CIFR) stock down 9% to $16.77 and TeraWulf (NASDAQ:WULF) shares down 7% to $16.45. Rising Treasury yields sit at the center of the move.
The 10-year yield is trading near the upper end of its 52-week range, pressuring long-duration cash flow valuations across a group financing multi-year data center construction against contracted revenue arriving later. HIVE Digital Technologies (NASDAQ:HIVE) shares are down 7% to $2.87, giving back most of Monday's surge. MARA Holdings stock is down 5% to $9.24, and Riot Platforms shares are down 4% to $19.23.
#down
2 months ago
