Bitcoin mining stocks plunge more than 10% in AI debt reckoning

Miners that pivoted to AI fell far harder than Bitcoin as Gartner forecast that more than 80% of neoclouds will not stay independent by 2030 Bitcoin mining stocks plunged on Wednesday, October 14, and fell far harder than Bitcoin itself, according to Alpaca market data. The CoinShares Bitcoin Mining and Digital Power ETF (WGMI) dropped 10.7%. Bitcoin fell roughly 2%. Miners with the deepest AI infrastructure exposure took some of the steepest losses. IREN declined 12.2%, according to Alpaca market data. Cipher Digital dropped 12.3%. Hut 8 lost 10.5%. Nvidia -backed AI cloud provider CoreWeave plunged 15.5%.

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