Riot Platforms

Crypto-linked equities sold off Tuesday after the U.S. Senate failed to advance the Digital Asset Market Clarity Act. Coinbase, Circle and Galaxy each dropped more than 8% as investors reassessed the path toward federal crypto market rules.

Bitcoin remained under pressure after four straight days of losses, with BTC/USD trading at 63,400 after retreating from this month’s high of 65,330. ETF outflows, Strategy sales and a bearish chart structure have kept market participants focused on 60,000 as the next key downside level.

Bitcoin traded near 63,400 after four straight days of losses, pressured by ETF outflows, Strategy sales and fading expectations around the CLARITY Act. Technical traders are watching 60,000 as the next downside target, while a move above 66,000 would soften the bearish setup.

Bitcoin remained under pressure after four straight daily declines, with BTC/USD trading at 63,515 as traders awaited the latest US consumer price index report. Softer futures activity, weaker ETF momentum and coin sales by Strategy and miners have kept attention fixed on the 60,000 and 67,000 range.

Riot Platforms shares jumped more than 20% in pre-market trading after the bitcoin miner secured a 20-year artificial intelligence infrastructure agreement tied to Anthropic. The deal underscores how power-rich mining firms are repositioning data center assets toward AI workloads and longer-term contracted revenue.

Hut 8 and IREN led a sharp Monday rebound in bitcoin mining stocks after announcing major AI infrastructure contracts. The deals helped ease investor concerns that demand for new data center capacity could be cooling.

Compass Point analysts argue that investors are giving limited credit to signed AI data center leases at several companies that once traded primarily as bitcoin miners. The firm says Applied Digital, TeraWulf and Cipher Mining show the biggest valuation gaps as the sector shifts toward recurring infrastructure income.

JPMorgan upgrades MARA Holdings to overweight with a $22 target amid rising bitcoin prices. IREN and Riot downgraded to neutral as miner profitability outlook shifts.

The company's loss per share doubled to $0.32.