Digital-asset treasury companies have seen their stock prices plunge by an average of 43% this year as crypto premiums evaporate, prompting many to pivot toward artificial intelligence ventures in hopes of recovery.
K Wave Media’s shares dropped 71% since its May shift to data center development, illustrating the tough road ahead for firms chasing AI gains. Similarly, Lixte Biotechnology and Alphaton Capital each slid about 33% after diversifying away from crypto holdings.
The traditional model of treasury firms leveraging crypto reserves for premium stock valuations faltered as bitcoin and ether prices tumbled 49% and 62% from their recent peaks, forcing companies to explore other sectors like space tech and even small nuclear reactors.
Meanwhile, former bitcoin miners appear better positioned to capitalize on the AI wave. Coreweave, which transitioned from mining to cloud computing, now commands a market value near $40 billion and has seen its stock rise 80% since its public debut in early 2025.
This contrast highlights how miners' infrastructure assets such as power contracts and data centers can adapt more effectively for AI workloads compared to digital-asset treasury firms struggling to regain investor trust after steep losses.
