Bitcoin mining stocks plunge over 10% in AI debt reckoning
- —WGMI ETF fell 10.7% while Bitcoin slipped only about 2%
- —IREN -12.2%, Cipher Digital -12.3%, Hut 8 -10.5%, CoreWeave -15.5%
- —Gartner: over 80% of neoclouds won't stay independent by 2030
- —Yield on CoreWeave's 2032 bonds approached 15%
Why it matters: Miners that pivoted to AI now hinge on borrowing costs and customer credit, not just the price of Bitcoin.
Source: Crypto Briefing