Publicly traded miners are riding the AI infrastructure boom as investors bet excess capacity can fuel high-performance computing.

Cohort selling and long-term holder distribution add to ongoing pressure.

While bitcoin and the S&P 500 often trend together, they periodically diverge during bull cycles.

Seasonal weakness persists as crypto markets cool, while gold and AI stocks capture attention.

Company lifts AI Cloud ARR target to more than $500 million by Q1 2026 after $674 million GPU expansion.

The relatively small purchase was mostly funded through common stock sales.

Safe-haven flows pushed gold to new records while bitcoin stumbled, highlighting shifting investor dynamics.

Company overtakes Bullish with $632 million purchase as both Metaplanet and Capital B shares trade lower.

Gold has done well of late, but hasn't made a new high relative to broad money supply since 2011.

Even with the pullback, bitcoin continues to make higher lows, a positive technical development.