Strategy, BitMine Immersion Technologies and SharpLink Gaming posted gains Monday as Bitcoin pushed toward $65,000, in what appears to be a capital rotation out of AI infrastructure stocks and into digital asset proxies. Miners signing AI data center contracts have blurred the line between the two sectors.
Crypto-related equities posted gains Monday while the broader market nursed losses, benefiting from what appears to be a meaningful capital rotation out of AI infrastructure stocks and into digital asset proxies. Strategy climbed roughly 3% to $94.43, while BitMine surged nearly 7% to $17 and SharpLink advanced about 5% to $6.07.
Miners blur the line between crypto and AI stocks
Money has flowed from AI-themed equities into crypto plays before this year, and the pattern has recurred throughout 2026, with capital sloshing back and forth between the two sectors. Bitcoin miners have been pivoting toward AI data center contracts to diversify their revenue streams, blurring what counts as a "crypto stock" and what counts as an "AI stock."
Hut 8 announced a 15-year, $9.8 billion lease for its Beacon Point AI data center campus in Texas on July 20. IREN disclosed $2.8 billion in new multi-year AI cloud contracts and raised its 2026 AI Cloud annual run-rate revenue target to over $4 billion.
Treasury holdings turn these stocks into coin derivatives
Strategy now holds 843,775 BTC at an average cost of $75,476 per coin, and the company also sits on $3.75 billion in cash reserves. With Bitcoin approaching $65,000, that treasury position is still underwater on average cost basis.
BitMine holds over 3.73 million ETH while SharpLink holds 872,984 ETH, making their stock prices functionally derivatives of Ethereum’s price action. Coinbase, MARA Holdings, CleanSpark and Cipher Digital have all been associated with crypto stock rallies tied to the AI-crypto rotation narrative this year.
Why the rotation lands in crypto equities
When sentiment shifts in AI, the capital has to go somewhere, and crypto stocks have emerged as a favored parking spot for several reasons. Bitcoin has been consolidating near $65,000, and the mining-to-AI pivot means these companies have diversified revenue stories.
Crypto equities trade on regulated exchanges during normal market hours, which makes them more accessible than spot crypto for institutional allocators with compliance constraints. Hut 8’s $9.8 billion lease and IREN’s $2.8 billion in contracts represent real, contracted revenue that does not depend on Bitcoin’s price.
Source: Crypto Briefing
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