BTC mining stocks down 20%, future hinges on AI sentiment: 10x Research

According to 10x Research, the future direction of Bitcoin (BTC) mining stocks will depend on investor sentiment in artificial intelligence (AI), following a recent 20% correction that saw them decouple from the price of BTC. The research firm explained in a report that BTC mining companies are now closely linked to the AI theme, and BTC investors should also monitor shifts in AI market sentiment. It noted that global supply chains and international technological competition are key variables in the AI market, with stocks related to China's large language models (LLMs) and the outlook for South Korea's semiconductor supply chain directly impacting mining stocks. Therefore, the future trend of the AI industry will be a key factor in determining the price of mining stocks, the report concluded.