cnbc_topnews

Crypto stocks rally thanks to rotation from AI infrastructure; bitcoin miners lag

📰 source: cnbc_topnews · 💼 business

crypto stocks rallied monday as capital rotated away from ai infrastructure names amid sell-offs in chips and memory stocks. bitmine immersion surged 11% after adding 10,000 ether worth $19.4 million. sharplink gaming jumped 6%, strategy rose 7% after adding cash instead of buying bitcoin. coinbase, bitgo, and figure technology all gained 4-6%. circle internet group climbed 2% after acquiring ibm's blockchain patents portfolio.

ai-exposed bitcoin miners lagged sharply. cipher mining dropped 8%, hut 8 fell 6%, terawulf lost 4%. pure-play miners like riot platforms and mara holdings also declined. core scientific, which pivoted away from mining, sank 9%. the rotation was driven by concerns over rising capital costs and credit appetite for ai projects, according to analyst donovan. nvidia reportedly discussed providing financial support for openai's ai data center lease, underscoring credit's role in ai investment. bitcoin was little changed below $65,000, while ether rose 1% to $1,900.

why it matters: rotation from ai infrastructure into crypto stocks signals shifting investor sentiment as capital costs rise for ai miners, a key theme for portfolio allocation.

source: cnbc_topnews
sentiment: +0.50 · impact: 0.50

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'I lost $14,000 in a month': Investors hit by Korean stock market's wild swings

These charts show why stocks keep rallying. Profit margins are the highest on record

Workday shares post best day in 10 years on Silver Lake takeover report

Trade court upholds Trump's closure of 'de minimis' loophole