Bitcoin Holds Above $62,000 as Mining Stocks Slide 20% and Investors Eye AI Pivot

Bitcoin remained above the $62,000 level in early July 2026, trading around $61,600‑$63,000 and staying above the key support threshold of $58,115 despite broader market turbulence. Investor Dave Portnoy, who previously suffered large losses after timing Bitcoin trades poorly, acknowledged his heavy losses but said he intends to continue holding the cryptocurrency.

At the same time, shares of Bitcoin mining companies fell sharply, with Riot Platforms down 7.5% and Marathon Digital Holdings down 6%, reflecting a roughly 20% decline in mining‑related stocks. The drop was driven by a cooling sentiment in the AI infrastructure and semiconductor sectors, prompting miners to sell about 32,000 BTC in the first quarter of 2026 to fund a transition toward AI‑adjacent GPU farms. This aggressive pivot highlights the growing convergence of cryptocurrency mining and high‑performance computing investments.