On October 14, 2026, Bitcoin mining stocks experienced a significant decline, outperforming the drop in Bitcoin itself. The CoinShares Bitcoin Mining and Digital Power ETF (WGMI) fell by 10.7%, while Bitcoin decreased by approximately 2%.
Companies with significant exposure to AI infrastructure faced the steepest losses. IREN shares dropped 12.2%, Cipher Digital fell 12.3%, Hut 8 declined 10.5%, and the Nvidia-backed cloud provider CoreWeave saw a 15.5% decrease.
The market downturn coincided with a forecast from Gartner, which predicts that over 80% of specialized AI cloud providers, known as neoclouds, will lose their independence by 2030 due to cost pressures.
The sell-off followed a US inflation report showing consumer prices rose 3.7% in September, up from 3.4% in August. This data pushed Treasury yields higher and increased expectations for further Federal Reserve tightening, causing Bitcoin to fall below $82,000.
While mining companies have invested billions to convert sites for AI to secure steadier revenue, the sector faces high capital requirements for GPUs and cooling. ASML, however, raised its annual revenue outlook to between €44 billion and €45 billion.
