Bitcoin miners plunge up to 13% in Wall Street’s worst selloff since July
TeraWulf, Core Scientific, Cipher Mining and IREN each lost more than 12% as hotter inflation hit AI infrastructure companies.
US stocks suffered their sharpest selloff since July on Wednesday as hotter-than-expected inflation data weighed on technology and AI infrastructure companies, with Bitcoin miners among those hit.
The S&P 500 fell 1.1%, its biggest one-day decline since July 29; the Nasdaq Composite fell 1.9%, its biggest one-day drop since July 23, while the Dow Jones Industrial Average fell 0.1% over the day.
Leading decliners among major tech companies included data center operator CoreWeave, which fell 16%, AI infrastructure provider Nebius, which fell 11%, and Oracle, which fell 9%.
Of the 23 AI infrastructure stocks tracked by PRISM’s AI Data Center and Infrastructure Index, 21 declined Wednesday, with an average loss of 7.46%.