Crypto Mining Stocks Drop For A Second Day Amid China DeepSeek Valuation Concerns
Crypto mining stocks dropped for the second day in a row after China’s DeepSeek AI model sparked worries that the US AI market might be overvalued. Riot Platforms (RIOT) led losses among miners yesterday with a 4.3% loss, while Cleanspark (CLSK) fell almost 2.5% and MARA Holdings (MARA) a fraction of a percent, according to Google Finance. Losses for the miners came even as the broader market recovered after Monday’s steep selloff that was triggered by the DeepSeek news. Leading AI chip maker Nvidia (NVDA) surged 8.8% on Tuesday after plummeting 17% a day earlier, losing almost $600 billion of its market cap at one point. The continued drop in crypto mining stocks came as many crypto miners shifted their computing power to run and train AI models amid increasing mining difficulty and growing competition. Ai Tokens & Mining Continue Bleeding While Big Tech Recovers Crypto mining stocks are getting wrecked for the second day straight while big tech dusts itself...