Bitcoin miner stocks pivoting to AI infrastruct...

Shares of Bitcoin miners pivoting to AI infrastructure—including Cipher Mining, TeraWulf, and HIVE Digital—fell significantly as 10-year Treasury yields approached 4.7%, which increases borrowing costs and reduces the present value of future cash flows. Cipher Mining saw the steepest decline at 9.54%, partly due to analyst downgrades, while TeraWulf and Riot Platforms also posted notable losses despite strong contracted revenue backlogs and power capacity. The Valkyrie Bitcoin Miners ETF fell 6%, signaling broad selling pressure as these companies remain in heavy investment phases with revenue expected only in 2027-2028.