Odaily Planet Daily News: After DeepSeek launched a new cost-effective AI model, the stock prices of several Bitcoin mining companies involved in the AI business plummeted on Monday. Among them, Core Scientific (CORZ) and Terawulf (WULF) fell nearly 30%, and other mining companies such as Cipher Mining, Hut 8, IREN and Bitdeer fell between 20% and 25%.
Redstone Chief Operating Officer Marcin Kazmierczak said: "The blockchain and artificial intelligence fields are fundamentally different, each driven by unique use cases and long-term innovation. It is only a matter of time before the DeepSeek model begins to be used in Crypto AI projects with OpenAI's recently announced Operator-AI agent."
In the cryptocurrency field, Coinbase's stock price fell 10% and MicroStrategy's stock price fell about 8.5%. Earlier on Monday, MicroStrategy announced that it would issue 2.5 million shares of MSTR series perpetual exercise preferred stock to promote future Bitcoin purchases.
In addition, as of press time, less volatile spot Bitcoin ETFs are down about 5-6%. (The Block)