MarketPR
Rising long-term Treasury yields reversed Monday's gains for Bitcoin mining stocks Tuesday morning, with IREN Limited shares slipping 4% to $35.58.
The 10-year Treasury note yield climbed to 4.8%, a move that raised the cost of debt financing for capital-intensive infrastructure projects.
This rate pressure hit buildout-heavy miners harder than the broader data-center sector, as seen in the CoinShares Bitcoin Mining and Digital Power ETF falling 4% to $41.14, while the Global X Data Center & Digital Infrastructure ETF retreated just 1% to $27.50.
Other mining names followed suit in the morning session. TeraWulf shares slipped 4% to $14.46, and Cipher Mining stock fell 6% to $14.56, marking the steepest same-day decline in the group at that time.
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