NVIDIA’s $465B Loss Over DeepSeek Jolts Mining Stocks by 30%

The debut of AI-based startup DeepSeek caused an unexpected shock to tech giants, with NVIDIA shedding $465B in market cap in a single session, and the Nasdaq dropping 3%. This plunge intensified Bitcoin’s correlation with tech shares, driving mining firms’ stocks down by about 30% on average. Core Scientific, TeraWulf, and Bitdeer were particularly hard-hit, while Marathon lost 16% and Riot Platforms slid 8.7%.

CoinGlass data shows nearly $1B in leveraged crypto positions were liquidated in 24 hours. Many observers blame the sell-off on shifting investor priorities, given heightened AI-driven HPC concerns. Meanwhile, Standard Chartered analysts warn that Bitcoin’s tight linkage with the tech sector could amplify future volatility.

Experts note that alongside NVIDIA’s collapse and the mining sell-off, various crypto tokens also saw double-digit losses. Render (RNDR) and Filecoin (FIL) slid over 10%, while Solana (SOL) sank 12%. The upcoming Fed rate decision and big tech earnings may spark further dramatic market moves in the days ahead.