AI concept stocks sold off; Bitcoin mining companies transit
On November 13, 2026, amid an AI concept stock sell-off, some Bitcoin miners that had pivoted to data centers refocused on their mining business. VanEck data shows that related companies' share prices fell 35% on average in October. Companies such as MARA Holdings and Bitdeer emphasized core operations, while AI platforms continued to expand.
Event Timeline
- [11-13 03:12] AI concept stocks sell off, Bitcoin miners that pivoted to data centers re-emphasize mining business (Wushuo)
- [11-13 03:15] As AI concept stocks sell off, Bitcoin miners that pivoted to data centers re-emphasize core mining business (PANews)
Background and Impact
The 2024 Bitcoin halving led to declining profit margins, and combined with surging AI computing demand, this prompted multiple miners to shift to the data center business. This transition brought some companies market attention, but the November 2026 AI sector correction put pressure on related companies' share prices. According to Bloomberg, Bitcoin miners transitioning to AI infrastructure fell about 35% on average in October, reflecting market concerns about AI investment prospects. Some companies tried to ease valuation pressure by re-emphasizing their mining business, but specific adjustment strategies differ. MARA Holdings CEO Fred Thiel explicitly stated in a letter to shareholders that Bitcoin mining remains the core business, while Bitdeer Chief Strategy Officer Haris Basit noted that the company does not want to rely on a single market cycle, and its AI platform is still expanding. It is worth noting that Bitdeer disclosed in its third-quarter financial report that Bitcoin mining will still contribute the main revenue in the short term, but the pace of AI business development differs from market expectations.
FAQ
### Which Bitcoin miners faced share price declines due to transitioning to AI data centers?
According to VanEck data, miners transitioning to AI data centers fell 35% on average in October 2026, but the specific list of companies was not disclosed in the reports.
### When might the market restore confidence in AI-related businesses?
The current AI sector correction has no clear timetable, but some companies say AI platforms are still expanding; it is necessary to observe whether actual revenue matches capital expenditure.
### Will the Bitcoin mining business be affected by AI sector volatility?
Some companies emphasize that mining remains the core business, but changes in AI demand may indirectly affect power resource allocation and the computing power market landscape.