MoneyVision.
  • S&P 5007,377.46down −4.05%
  • Nasdaq24,400.69down −5.19%
  • Euro Stoxx 506,231.54down −0.55%closed
  • Nikkei 22561,077.90down −1.79%closed
  • Brent oil$97.91up +3.48%
  • Gold$4,111.70up +0.95%
  • Euro in dollars1.1225down −0.09%
  • Bitcoin$75,968down −5.33%
  • Ethereum$2,248.84down −7.25%
  • Solana$89.29down −6.43%

Illustration: a warehouse of mining machines with half of the racks being swapped for tall server cabinets as a pile of gold coins is carted out

CryptoGlobal

Keel sells 2,520 bitcoin as miner stocks drop 35%

Keel sold its whole Bitcoin treasury for $192 million as it moves toward AI data centers. Bitcoin mining stocks with AI plans fell an average of 35% in October.

Scroll to read
Illustration

Crypto ·

In the third quarter, Keel sold 2,520 bitcoin for $192 million, which left its treasury close to empty. As it shifts toward AI data centers, the company said it will sell the coins it mines in Quebec daily.

Crypto

Bitfarms, listed on the Nasdaq, has also sold all its BTC.

In numbers

  • $192 millionKeel treasury sale
  • 2,520Bitcoin sold by Keel
  • 35%Average miner stock drop

Bitcoin, the past month

$75,851down −11.57%

$85,771$75,8516 Oct5 Nov

Crypto

Bitcoin mining stocks expanding into AI data center infrastructure fell an average of 35% in October. Concerns about rising borrowing costs at AI computing companies spread to miners, with no reported cancellations of signed deals.

The rest of the story

VanEck believes the selloff was excessive. It argues that fear has pushed valuations below what existing business fundamentals would justify.

MoneyVision newsroom · Published

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Illustration

More news

Close-up of a Bitcoin physical coin in a womans hand and a laptop on her lapCrypto risingBitcoin falls below $77,000 as tech selloff spills into cryptoBitcoin dropped to a seven-week low as US stocks gave back election gains. Hourly liquidations of leveraged bets neared $600 million.Bitcoindown −11.57%1 monthEccles Building (26088200676)CryptoFed and OCC check U.S. banks after $6.3 billion Binance hackU.S. bank supervisors reached out to lenders this week after a $6.3 billion hack at Binance. A crime-fighting unit backed by Tether and Tron had wound down two months earlier.Illustration: a paper stock certificate turning into a chain of glowing glass beads laid across a sunlit wooden deskCryptoTokenized stock trading hits $1.11 billion as new Solana platforms launchJTX and Solana Labs launched new ways to trade tokenized stocks on Solana. Trading volume in these stocks reached $1.11 billion during a tech stock decline.Solanadown −26.03%1 monthIllustration: a heavy brass key snapped in half lying in front of a closed steel vault door in dim lightCryptoBinance and Deribit revoke SignalPlus API keys over possible security issueBinance and Deribit cut off API keys tied to the SignalPlus trading platform after a potential security concern. Binance asked users to check their positions and orders.Young kid pointing light at the Bitcoin physical coinCryptoBitcoin hovers near $80,000 after post-election rise and Bank of England hikeBitcoin traded near $79,600 on Thursday as oil rebounded and the Bank of England raised rates. The price keeps stalling at the $80,000 level.Bitcoindown −11.57%1 monthSeoul, South Korea skyline with Building 63, 2001CryptoCrypto tax rules shift in South Korea, Greece and Hong KongSouth Korea plans to delay its 22% crypto gains tax to 2029, Greece taxes crypto gains at 10%, and Hong Kong passed a law on crypto tax reporting. Rules for crypto holders are changing in three places.