Mining Stocks Plummet 20%, Leaving Bitcoin Unscathed

Bitcoin mining stocks have taken a hit, plummeting roughly 20% according to a July 7 report from 10x Research. This downturn is largely due to investors losing enthusiasm for AI and semiconductors, causing chip supply chains and compute demand to dictate miner share prices rather than crypto market signals.

The research firm notes that miners have decoupled from Bitcoin after a sharp rally and reversal. For instance, Riot Platforms (RIOT) stock price has moved in sync with the semiconductor SOX ETF since April 2026, both retreating from their highs together.

10x Research warns that this sensitivity cuts both ways for crypto investors. Miners are now intertwined with the AI theme, and Bitcoin investors need to monitor changing narratives on that side of the market as well.

The report identifies a potential correction course by which the current trend could run its course, citing Samsung's 6% drop despite forecasting a 19-fold profit jump as an example of how quickly chip sentiment can turn.