MARA Holdings, a major Bitcoin miner with a large 35,577 BTC treasury, saw its stock drop 5% due to rising 10-year Treasury yields hitting near 4.7%, which pressures valuations of rate-sensitive infrastructure stocks. Despite MARA's strategic assets like data centers, land, and AI cloud services, higher borrowing costs weigh on its stock price. Other miners like Cipher Mining, HIVE Digital, and Riot Platforms also faced declines. The market now values these miners more as data center developers than just Bitcoin proxies, with future contracted AI capacity and power costs driving stock performance rather than Bitcoin price alone. Investors should watch Treasury yields and MARA's progress on converting Texas site capacity into contracted revenue.
Shares of Bitcoin miners shifting focus to AI infrastructure, including Cipher Mining, TeraWulf, and HIVE Digital, dropped significantly due to rising 10-year Treasury yields nearing 4.7%. Higher yields increase borrowing costs and reduce the present...
Strategy's shares dropped 36% year-to-date, underperforming the iShares Bitcoin Trust ETF, as the company paused bitcoin purchases and sold some holdings to fund preferred dividends and build a $4.8 billion dollar reserve. The company holds 840,447 B...
