Bitcoin Mining Stocks Slip but Remain Ahead of BTC's Performance

Bitcoin mining stocks experienced a significant decline on Friday, May 15, 2026, with all major traded mining stocks dropping between 2.52% and 9.59%. However, their year-to-date gains still outpaced Bitcoin's performance by a wide margin.

The top ten publicly listed miners have been rapidly pivoting away from pure bitcoin mining in favor of high-performance computing (HPC) workloads and artificial intelligence (AI). This shift has driven revenue growth, with AI and HPC contracts now exceeding $70 billion across the sector. The sector's focus on longer-term contracts and more stable revenue per megawatt is expected to continue.

Hut 8 Corp., Terawulf, Inc., and Core Scientific, Inc. are among the top performers in the sector, with year-to-date gains of 123.16%, 95.56%, and 66.82% respectively. These companies have invested heavily in AI infrastructure and have secured significant contracts with major partners.