Bitcoin mining stocks fall from 2026 peaks as AI narrative dominates
- —BTC hashrate stood near 987 EH/s in October, with difficulty trending down through most of 2026
- —Miner reserves fell from 1.9M BTC to roughly 1.19M coins
- —Foundry USA sold its last 236 BTC and now holds near-zero reserves
- —IREN dropped 6.27% to $38.69; TeraWulf is down 50% from its peak to $14.40
Why it matters: Miners selling reserves and pivoting to AI eases BTC supply pressure but weakens mining stocks as a bitcoin proxy.
Source: Cryptopolitan