Crypto stocks rally as capital rotates away from AI infrastructure plays

While the broader market spent Monday licking its wounds, crypto-related equities were having a quietly excellent day. Strategy, BitMine Immersion Technologies, and SharpLink Gaming all posted significant gains as Bitcoin pushed toward $65,000, benefiting from what appears to be a meaningful capital rotation out of AI infrastructure stocks and into digital asset proxies. Strategy shares climbed roughly 3% to $94.43. BitMine surged nearly 7% to $17. SharpLink advanced about 5% to $6.07. The great rotation of 2026 This isn’t the first time this year that money has flowed from AI-themed equities into crypto plays. The pattern has been recurring throughout 2026, with capital sloshing back and forth between the two sectors. Bitcoin miners have been aggressively pivoting toward AI data center contracts to diversify their revenue streams, blurring the line between what counts as a “crypto stock” and what counts as an “AI stock.” Hut 8 announced a 15-year, $9.8 billion lease for its Beacon Point AI data center campus in Texas on July 20. IREN disclosed $2.8 billion in new multi-year AI cloud contracts and raised its 2026 AI Cloud annual run-rate revenue target to over $4 billion. The lever...