Bitcoin miners that have spent the past year repositioning their power and data center assets toward AI computing sold off broadly on Monday, with Bitdeer and Keel Infrastructure, formerly Bitfarms, leading the decline after quarterly results. Separately, Bitcoin's 20-day rolling correlation with the software index IGV has turned negative for the first time since May 2024, with IGV down about 1% this year against Bitcoin's 29% decline.
August 10, 2026
The AI Pivot Isn't Protecting Miners From Bad Earnings
Original reporting: CoinDesk ↗