Bitcoin Mining Stocks Plummet 20% Amid Cooling Semiconductor Enthusiasm

Bitcoin mining stocks have taken a significant hit in recent weeks, plummeting by about 20% as investor enthusiasm for AI and semiconductors cools. This decline is largely attributed to the fact that miners now trade like AI infrastructure companies, rather than Bitcoin proxies.

According to a report from 10x Research, mining equities have decoupled from Bitcoin after a sharp rally and reversal. The firm's data shows that Riot Platforms (RIOT) has moved in step with the semiconductor SOX ETF since April 2026, and both recently retreated from their highs together.

The research firm warns that this new sensitivity cuts both ways for crypto investors, as miners are now deeply intertwined with the AI theme. 'Bitcoin investors need to closely monitor the changing narratives on that side of the market,' the note reads.