US-Listed Bitcoin Miners Outperform as Stocks Decouple From BTC

Bitcoin mining stocks have traditionally tracked fluctuations in Bitcoin prices and mining revenue. But US-listed operators are redirecting power, data-center capacity and high-performance computing resources toward AI infrastructure. TeraWulf (WULF), Cipher Digital (CIFR) and Hut 8 own power and data-center assets, making their valuations increasingly less dependent on BTC alone.

As of July 2026, the three US-listed mining stocks had risen even as Bitcoin's spot price fell nearly 17% during the month. Markets are factoring demand for AI computing capacity and data centers into their 2026 outlooks, driving the sector's decoupling from BTC. The shift also gives traders exposure to AI infrastructure growth through mining companies rather than crypto assets alone.