Every Zipp story tagged #MiningStocks, newest first.
Mining equities posted a median return of just 1.8% while BTC climbed 22% since Aug. 17, with Core Scientific and Terawulf the worst laggards as the AI-pivot thesis loses its shine.
Mining stocks are becoming less direct Bitcoin proxies as stressed operators sell BTC and stronger miners pursue debt-funded AI pivots.
The transfer itself is small; the read underneath is that even healthy miners are flipping treasury coins to fund the build-out of data-centre capacity the AI trade has made unavoidable.
Bitdeer, CleanSpark and peers are diverting capital and infrastructure toward AI workloads, creating a structural tension between hashrate growth and the treasury models miners built during the last…
VanEck estimates bitcoin miners pivoting into AI infrastructure face a roughly $50 billion near-term funding gap and up…
The revenue print is the headline, but the $1.5B in bitcoin sold to retire debt and the halt to large-scale ASIC buys show where management is placing its bets this cycle.
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