Published: Tuesday, November 4, 2025 · 7:54 PM | Updated: Tuesday, November 4, 2025 · 7:54 PM
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Bitcoin fell below $100,000 for the first time since June, marking a continued downtrend since October 10’s flash crash event which wiped out an estimated $19 billion from the larger crypto ecosystem.
Bitcoin dropped as low as $99,908 during market hours before recovering to $101,400.
Bitcoin miner valuations have taken a hit with the market slide, with numerous tickers taking high single digit slides despite strong earnings for most firms.
Of note, Bitcoin miner-turned-AI-factory IREN remains green on the day, up nearly 1% after announcing a key tenant agreement with Microsoft at a West Texas data center Monday.
Overall, Bitcoin miners turning to AI infrastructure plays have enjoyed a massive re-rating over 2025. Van Eck’s ‘NODE’ ETF–which tracks a composite of firms in the AI infrastructure space–is up 74% since inception in May 2025. Coinshares ‘WGMI’ ETF–which similarly tracks a basket of Bitcoin mining stocks–is up 166%.
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