Bitcoin mining stock prices were in free fall with the wider market on Thursday, with many marquee names down double digits as the market reckons with the Federal Reserve’s decisions to keep rates unchanged on Wednesday.
In the hours after market open, bitcoin mining stocks that have been expanding into AI and pure-play bitcoin miners alike fell precipitously. Among the hardest hit were Cipher Mining (-9%), CleanSpark (-7.6%), TeraWulf (-7.3%), HIVE (-7.1%), Cango (-6.4%), IREN (-6.3%), Riot (-6.6%), and Hut 8 (-5.8%), but still others fared poorly, including Bitfarms (-5%), Bitdeer (-5%), and American Bitcoin (-4%).
Bitcoin suffered during the sell off, as well, retracing 5.2% to $84,500, a level last seen in November 2025. And gold and silver weren’t spared, either, with gold shedding roughly bitcoin’s market cap in a matter of minutes and with either respectively down 0.43% and 0.88% over the last 24 hours.
Incredibly, some Magnificent 7 tech stocks were the hardest hit during the market culling. Microsoft plummeted 11.8% in early trading hours and Oracle fell 4.7%, while others like Tesla (-2.4%), Amazon (-1.9%), Nvidia (-1.9%), and Google (-1.4%) saw more modest losses. Bucking the trend, Meta was up 8.5%.
The downturn in commodities and equities comes as the Federal Reserve voted to keep rates steady on Wednesday, spurring fears of tightening liquidity among investors and traders.
Header image by unknown author via public domain.
