Bitcoin miners plunge up to 13% in Wall Street’s worst selloff since July
TeraWulf, Core Scientific, Cipher Mining and IREN each lost more than 12% as hotter inflation hit AI infrastructure companies.
AI summary
Bitcoin mining stocks fell sharply on Wall Street, with TeraWulf, Core Scientific, Cipher Mining and IREN each dropping more than 12% and losses reaching 13% in the sector's worst selloff since July. The decline was driven by hotter-than-expected inflation data that hit AI infrastructure companies, which many miners have pivoted toward. Traders care because mining equities are a high-beta proxy for bitcoin sentiment and the selloff signals risk-off pressure on crypto-linked infrastructure.
