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AI mining stocks Hut 8 fell 11%, TeraWulf fell 5%, and IREN fell 3%, with analysis pointing to profit-taking as the cause.
Hut 8 (NASDAQ:HUT) shares fell 11% to $78.54 in early Friday trading, despite the company having a $19.6 billion contracted backlog for AI data centers. TeraWulf (NASDAQ:WULF) fell 5% to $15.58, and IREN (NASDAQ:IREN) fell 3% to $41.20. Analysts believe these declines are due to investors engaging in profit-taking after significant gains in these stocks in 2026, rather than a re-evaluation of the companies' contracts or economic conditions. The Global X Data Center & Digital Infrastructure ETF (NASDAQ:DTCR) fell only 0.6%, indicating that the market is not re-evaluating the overall demand for AI data center capacity, but rather that funds are being withdrawn from high-risk AI infrastructure stocks.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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