Shares of Bitcoin miner Core Scientific (CORZ) dropped 18% on March 6 after Microsoft reduced its commitment to CoreWeave.
CoreWeave missed deadlines and had issues delivering materials needed to scale AI models, resulting in Microsoft scaling back its contracts.
Core Scientific, one of the largest publicly listed Bitcoin miners, signed a $100 million deal with CoreWeave in 2024 to provide data center services.
Shares of other Bitcoin mining companies fell as the US stock market faced struggles, with Cipher Mining, CleanSpark, and Bitfarms experiencing declines.