Core Scientific and Terawulf, two bitcoin mining companies involved in AI business, saw their share prices fall by nearly 30% on Monday

avatar
ODAILY
01-28
This article is machine translated
Show original
Odaily reported that after DeepSeek launched a new cost-effective AI model, the stock prices of several Bitcoin mining companies that have ventured into the AI business plummeted on Monday. Among them, Core Scientific (CORZ) and Terawulf (WULF) fell nearly 30%, while Cipher Mining, Hut 8, , and saw their stock prices drop between 20% and 25%. Marcin Kazmierczak, Chief Operating Officer of Redstone, stated that "the blockchain and artificial intelligence fields are fundamentally different, each driven by unique use cases and long-term innovation. It's only a matter of time before the DeepSeek model starts to be utilized in projects alongside the agent recently announced by ." In the cryptocurrency sector, stock fell 10%, and stock fell about 8.5%. Earlier on Monday, MicroStrategy announced that it will issue 2.5 million shares of its MSTR series of perpetual convertible preferred stock to fund future Bitcoin purchases. Additionally, as of the time of writing, the relatively less volatile spot ETFs have fallen around 5-6%. ()

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments