Core Scientific and Terawulf, two bitcoin mining companies involved in AI business, saw their share prices fall by nearly 30% on Monday

Odaily News After DeepSeek launched a new cost-effective AI model, the share prices of several Bitcoin mining companies involved in the AI business plummeted on Monday. Among them, Core Scientific (CORZ) and Terawulf (WULF) fell by nearly 30%, while other mining companies such as Cipher Mining, Hut 8, IREN and Bitdeer fell by 20% to 25%.
“The blockchain and AI fields are fundamentally different, each driven by unique use cases and long-term innovation,” said Redstone COO Marcin Kazmierczak. “It’s only a matter of time before the DeepSeek model begins to be leveraged in Crypto AI projects alongside OpenAI’s recently announced Operator-AI agents.”
In the cryptocurrency space, Coinbase shares fell 10%, while MicroStrategy shares fell about 8.5%. Earlier on Monday, MicroStrategy announced that it would issue 2.5 million shares of MSTR Series Perpetual Preferred Stock to facilitate future bitcoin purchases.
In addition, as of press time, less volatile spot Bitcoin ETFs have fallen by about 5-6%. (The Block)